VFICX vs. VBTIX
VFICX (Vanguard Intermediate-Term Investment-Grade Fund Investor Shares) and VBTIX (Vanguard Total Bond Market Index Fund Institutional Shares) are both Total Bond Market funds from Vanguard. Over the past 10 years, VFICX returned 2.59%/yr vs 1.50%/yr for VBTIX. Their correlation of 0.94 suggests significant overlap in exposure. VFICX charges 0.20%/yr vs 0.03%/yr for VBTIX.
Performance
VFICX vs. VBTIX - Performance Comparison
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Returns By Period
In the year-to-date period, VFICX achieves a -0.19% return, which is significantly lower than VBTIX's 0.12% return. Over the past 10 years, VFICX has outperformed VBTIX with an annualized return of 2.59%, while VBTIX has yielded a comparatively lower 1.50% annualized return.
VFICX
- 1D
- -0.34%
- 1M
- 0.42%
- YTD
- -0.19%
- 6M
- 0.33%
- 1Y
- 5.07%
- 3Y*
- 5.98%
- 5Y*
- 1.10%
- 10Y*
- 2.59%
VBTIX
- 1D
- -0.31%
- 1M
- 0.66%
- YTD
- 0.12%
- 6M
- 0.45%
- 1Y
- 4.16%
- 3Y*
- 3.95%
- 5Y*
- 0.04%
- 10Y*
- 1.50%
VFICX vs. VBTIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFICX Vanguard Intermediate-Term Investment-Grade Fund Investor Shares | -0.19% | 9.55% | 3.21% | 8.53% | -13.86% | -1.59% | 10.33% | 10.39% | -0.56% | 4.17% |
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | 0.12% | 7.18% | 1.27% | 5.75% | -13.15% | -1.95% | 7.75% | 8.74% | -0.24% | 3.56% |
Correlation
The correlation between VFICX and VBTIX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 1995 | 0.94 |
The correlation between VFICX and VBTIX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
VFICX vs. VBTIX — Risk / Return Rank
VFICX
VBTIX
VFICX vs. VBTIX - 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 Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX). 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 | VBTIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.20 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 1.52 | +0.08 |
| Martin ratioReturn relative to average drawdown | 5.18 | 4.30 | +0.88 |
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Drawdowns
VFICX vs. VBTIX - Drawdown Comparison
The maximum VFICX drawdown since its inception was -20.24%, which is greater than VBTIX's maximum drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for VFICX and VBTIX.
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Drawdown Indicators
| VFICX | VBTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.24% | -18.90% | -1.34% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -2.89% | -0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -6.10% | -5.99% | -0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -20.24% | -18.13% | -2.11% |
Max Drawdown (10Y)Largest decline over 10 years | -20.24% | -18.90% | -1.34% |
Current DrawdownCurrent decline from peak | -1.66% | -2.55% | +0.89% |
Average DrawdownAverage peak-to-trough decline | -2.49% | -2.32% | -0.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 1.02% | +0.01% |
Volatility
VFICX vs. VBTIX - Volatility Comparison
Vanguard Intermediate-Term Investment-Grade Fund Investor Shares (VFICX) has a higher volatility of 1.33% compared to Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) at 1.17%. This indicates that VFICX's price experiences larger fluctuations and is considered to be riskier than VBTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFICX | VBTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 1.17% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 3.24% | 2.88% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.26% | 3.92% | +0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 6.02% | +0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.20% | 4.99% | +0.21% |
VFICX vs. VBTIX - Expense Ratio Comparison
VFICX has a 0.20% expense ratio, which is higher than VBTIX's 0.03% 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. VBTIX - Dividend Comparison
VFICX's dividend yield for the trailing twelve months is around 5.01%, more than VBTIX's 4.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | 4.01% | 3.88% | 3.69% | 3.12% | 2.61% | 1.81% | 2.41% | 2.75% | 2.58% | 2.56% | 2.54% | 2.84% |
VFICX Vanguard Intermediate-Term Investment-Grade Fund Investor Shares | 5.01% | 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
With a correlation of 0.94, VFICX and VBTIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VFICX has higher volatility (1.33%) compared to VBTIX (1.17%). In terms of maximum drawdown, VFICX dropped -20.24% vs VBTIX's -18.90%.
VFICX currently has the higher Sharpe Ratio (1.25 vs 1.12), 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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