VFICX vs. VBTLX
VFICX (Vanguard Intermediate-Term Investment-Grade Fund Investor Shares) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both Total Bond Market funds from Vanguard. Over the past 10 years, VFICX returned 2.59%/yr vs 1.50%/yr for VBTLX. Their correlation of 0.94 suggests significant overlap in exposure. VFICX charges 0.20%/yr vs 0.04%/yr for VBTLX.
Performance
VFICX vs. VBTLX - 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 VBTLX's 0.11% return. Over the past 10 years, VFICX has outperformed VBTLX with an annualized return of 2.59%, while VBTLX 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%
VBTLX
- 1D
- -0.31%
- 1M
- 0.66%
- YTD
- 0.11%
- 6M
- 0.45%
- 1Y
- 4.14%
- 3Y*
- 3.94%
- 5Y*
- 0.02%
- 10Y*
- 1.50%
VFICX vs. VBTLX - 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% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 0.11% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Correlation
The correlation between VFICX and VBTLX 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 Nov 12, 2001 | 0.94 |
The correlation between VFICX and VBTLX 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. VBTLX — Risk / Return Rank
VFICX
VBTLX
VFICX vs. VBTLX - 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 Admiral Shares (VBTLX). 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 | VBTLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.20 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 1.51 | +0.08 |
| Martin ratioReturn relative to average drawdown | 5.18 | 4.28 | +0.90 |
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Drawdowns
VFICX vs. VBTLX - Drawdown Comparison
The maximum VFICX drawdown since its inception was -20.24%, which is greater than VBTLX's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for VFICX and VBTLX.
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Drawdown Indicators
| VFICX | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.24% | -18.81% | -1.43% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -2.89% | -0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -6.10% | -6.00% | -0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -20.24% | -18.14% | -2.10% |
Max Drawdown (10Y)Largest decline over 10 years | -20.24% | -18.81% | -1.43% |
Current DrawdownCurrent decline from peak | -1.66% | -2.48% | +0.82% |
Average DrawdownAverage peak-to-trough decline | -2.49% | -2.67% | +0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 1.02% | +0.01% |
Volatility
VFICX vs. VBTLX - 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 Admiral Shares (VBTLX) at 1.17%. This indicates that VFICX's price experiences larger fluctuations and is considered to be riskier than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFICX | VBTLX | 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% | 6.01% | +0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.20% | 4.99% | +0.21% |
VFICX vs. VBTLX - Expense Ratio Comparison
VFICX has a 0.20% expense ratio, which is higher than VBTLX's 0.04% 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. VBTLX - Dividend Comparison
VFICX's dividend yield for the trailing twelve months is around 5.01%, more than VBTLX's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.99% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
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 VBTLX 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 VBTLX (1.17%). In terms of maximum drawdown, VFICX dropped -20.24% vs VBTLX's -18.81%.
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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