VFICX vs. PBBBX
VFICX (Vanguard Intermediate-Term Investment-Grade Fund Investor Shares) and PBBBX (PIA BBB Bond Fund) are both mutual funds - VFICX is a Intermediate-Term Bonds fund actively managed by Vanguard, while PBBBX is a Corporate Bonds fund managed by PIA Mutual Funds. Over the past 10 years, VFICX returned 2.42%/yr vs 2.48%/yr for PBBBX. Their correlation of 0.86 means they have usually moved in the same direction. VFICX charges 0.20%/yr vs 0.15%/yr for PBBBX.
Performance
VFICX vs. PBBBX - Performance Comparison
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Returns By Period
In the year-to-date period, VFICX achieves a -0.92% return, which is significantly higher than PBBBX's -1.11% return. Both investments have delivered pretty close results over the past 10 years, with VFICX having a 2.42% annualized return and PBBBX not far ahead at 2.48%.
VFICX
- 1D
- 0.23%
- 1M
- -1.37%
- 6M
- -0.99%
- YTD
- -0.92%
- 1Y
- 1.92%
- 3Y*
- 5.70%
- 5Y*
- 0.56%
- 10Y*
- 2.42%
- ALL TIME*
- 4.85%
PBBBX
- 1D
- 0.48%
- 1M
- -1.24%
- 6M
- -1.29%
- YTD
- -1.11%
- 1Y
- 1.56%
- 3Y*
- 5.18%
- 5Y*
- -0.29%
- 10Y*
- 2.48%
- ALL TIME*
- 4.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
PBBBX PIA BBB Bond Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
VFICX vs. PBBBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFICX Vanguard Intermediate-Term Investment-Grade Fund Investor Shares | -0.92% | 9.55% | 3.21% | 8.53% | -13.86% | -1.59% | 10.33% | 10.39% | -0.56% | 4.17% |
PBBBX PIA BBB Bond Fund | -1.11% | 8.14% | 2.41% | 9.19% | -16.35% | -1.20% | 9.37% | 16.49% | -3.02% | 7.16% |
Correlation
The correlation between VFICX and PBBBX is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.89 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2003 | 0.86 |
The correlation between VFICX and PBBBX has been stable across timeframes, ranging from 0.84 to 0.91 - a consistent structural relationship.
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Return for Risk
VFICX vs. PBBBX — Risk / Return Rank
VFICX
PBBBX
VFICX vs. PBBBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Investment-Grade Fund Investor Shares (VFICX) and PIA BBB Bond Fund (PBBBX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VFICX | PBBBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.07 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.61 | 0.51 | +0.10 |
| Martin ratioReturn relative to average drawdown | 1.72 | 1.29 | +0.44 |
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Drawdowns
VFICX vs. PBBBX - Drawdown Comparison
The maximum VFICX drawdown since its inception was -20.24%, smaller than the maximum PBBBX drawdown of -23.00%. Use the drawdown chart below to compare losses from any high point for VFICX and PBBBX.
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Drawdown Indicators
| VFICX | PBBBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.24% | -23.00% | +2.76% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -3.30% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -5.41% | -5.26% | -0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -19.92% | -22.94% | +3.02% |
Max Drawdown (10Y)Largest decline over 10 years | -20.24% | -23.00% | +2.76% |
Current DrawdownCurrent decline from peak | -2.37% | -2.70% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -2.48% | -3.47% | +0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 1.30% | -0.12% |
Volatility
VFICX vs. PBBBX - Volatility Comparison
The current volatility for Vanguard Intermediate-Term Investment-Grade Fund Investor Shares (VFICX) is 1.06%, while PIA BBB Bond Fund (PBBBX) has a volatility of 1.14%. This indicates that VFICX experiences smaller price fluctuations and is considered to be less risky than PBBBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFICX | PBBBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 1.14% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.33% | 3.24% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.06% | 4.05% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 6.67% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.20% | 6.03% | -0.83% |
VFICX vs. PBBBX - Expense Ratio Comparison
VFICX has a 0.20% expense ratio, which is higher than PBBBX's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VFICX vs. PBBBX - Dividend Comparison
VFICX's dividend yield for the trailing twelve months is around 4.65%, more than PBBBX's 3.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBBBX PIA BBB Bond Fund | 3.51% | 4.02% | 3.82% | 3.57% | 3.24% | 2.85% | 3.16% | 3.78% | 4.20% | 3.75% | 3.95% | 4.12% |
VFICX Vanguard Intermediate-Term Investment-Grade Fund Investor Shares | 4.65% | 4.81% | 4.57% | 3.81% | 3.09% | 3.53% | 5.70% | 3.03% | 3.20% | 2.96% | 3.84% | 3.54% |
Frequently Asked Questions
VFICX and PBBBX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBBBX has higher volatility (1.14%) compared to VFICX (1.06%). In terms of maximum drawdown, VFICX dropped -20.24% vs PBBBX's -23.00%.
VFICX currently has the higher Sharpe Ratio (0.50 vs 0.42), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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