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VFICX vs. VEIPX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VFICX vs. VEIPX

Last updated Jun 4, 2026

VFICX (Vanguard Intermediate-Term Investment-Grade Fund Investor Shares) and VEIPX (Vanguard Equity Income Fund Investor Shares) are both mutual funds - VFICX is a Total Bond Market fund managed by Vanguard, while VEIPX is a Large Cap Value Equities fund managed by Vanguard. Over the past 10 years, VFICX returned 2.69%/yr vs 11.85%/yr for VEIPX. At a correlation of -0.06, they often move in opposite directions. VFICX charges 0.20%/yr vs 0.28%/yr for VEIPX.

Performance

VFICX vs. VEIPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Intermediate-Term Investment-Grade Fund Investor Shares (VFICX) and Vanguard Equity Income Fund Investor Shares (VEIPX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VFICX achieves a 0.38% return, which is significantly lower than VEIPX's 9.70% return. Over the past 10 years, VFICX has underperformed VEIPX with an annualized return of 2.69%, while VEIPX has yielded a comparatively higher 11.85% annualized return.

VFICX

1D
0.11%
1M
0.65%
YTD
0.38%
6M
0.45%
1Y
6.52%
3Y*
6.06%
5Y*
1.33%
10Y*
2.69%

VEIPX

1D
0.79%
1M
2.94%
YTD
9.70%
6M
9.81%
1Y
23.43%
3Y*
17.52%
5Y*
11.01%
10Y*
11.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VFICX vs. VEIPX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VFICX
Vanguard Intermediate-Term Investment-Grade Fund Investor Shares		0.38%9.55%3.21%8.53%-13.86%-1.59%10.33%10.39%-0.56%4.17%
VEIPX
Vanguard Equity Income Fund Investor Shares		9.70%17.14%14.80%7.66%-0.16%25.41%2.97%25.21%-5.75%17.60%

Correlation

The correlation between VFICX and VEIPX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.32

Correlation (3Y)
Calculated over the trailing 3-year period

0.25

Correlation (5Y)
Calculated over the trailing 5-year period

0.17

Correlation (10Y)
Calculated over the trailing 10-year period

0.02

Correlation (All Time)
Calculated using the full available price history since Nov 1, 1993

-0.06

The correlation between VFICX and VEIPX shifts across timeframes, from -0.06 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.

VFICX vs. VEIPX - Sectors Allocation Comparison

Sectors
VFICX
VEIPX

Communication Services

100.0%
2.9%

Financial Services

0.4%
20.5%

Real Estate

0.0%
1.9%

Basic Materials

-

3.4%

Consumer Cyclical

-

6.0%

Consumer Defensive

-

9.4%

Healthcare

-

14.8%

Industrials

-

10.6%

Technology

-

13.0%

Utilities

-

7.0%

Energy

-0.0%
8.3%

Communication Services

VFICX
100.0%
VEIPX
2.9%

Financial Services

VFICX
0.4%
VEIPX
20.5%

Real Estate

VFICX
0.0%
VEIPX
1.9%

Basic Materials

VFICX

-

VEIPX
3.4%

Consumer Cyclical

VFICX

-

VEIPX
6.0%

Consumer Defensive

VFICX

-

VEIPX
9.4%

Healthcare

VFICX

-

VEIPX
14.8%

Industrials

VFICX

-

VEIPX
10.6%

Technology

VFICX

-

VEIPX
13.0%

Utilities

VFICX

-

VEIPX
7.0%

Energy

VFICX
-0.0%
VEIPX
8.3%

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Vanguard Intermediate-Term Investment-Grade Fund Investor Shares

Vanguard Equity Income Fund Investor Shares

Often compared with VFICX:
VFICX vs. VCITVFICX vs. BIVVFICX vs. VICSXVFICX vs. VFSTXVFICX vs. TRBCXVFICX vs. BNDWVFICX vs. VWESX
Often compared with VEIPX:
VEIPX vs. VYMVEIPX vs. SCHDVEIPX vs. VHYAXVEIPX vs. VDIGXVEIPX vs. VWENXVEIPX vs. VWINXVEIPX vs. VFIAX

Return for Risk

VFICX vs. VEIPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VFICX
VFICX Risk / Return Rank: 3030
Overall Rank
VFICX Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
VFICX Sortino Ratio Rank: 3232
Sortino Ratio Rank
VFICX Omega Ratio Rank: 3030
Omega Ratio Rank
VFICX Calmar Ratio Rank: 2929
Calmar Ratio Rank
VFICX Martin Ratio Rank: 2929
Martin Ratio Rank
VEIPX
VEIPX Risk / Return Rank: 6767
Overall Rank
VEIPX Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
VEIPX Sortino Ratio Rank: 6565
Sortino Ratio Rank
VEIPX Omega Ratio Rank: 6060
Omega Ratio Rank
VEIPX Calmar Ratio Rank: 7575
Calmar Ratio Rank
VEIPX Martin Ratio Rank: 6666
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VFICX vs. VEIPX - 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 Equity Income Fund Investor Shares (VEIPX). 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.

VFICXVEIPXDifference
Sharpe ratioReturn per unit of total volatility
1.57
2.38

-0.82

Sortino ratioReturn per unit of downside risk
2.36
3.38

-1.02

Omega ratioGain probability vs. loss probability

1.29

1.43

-0.15

Calmar ratioReturn relative to maximum drawdown

2.00

3.42

-1.42

Martin ratioReturn relative to average drawdown

6.85

12.78

-5.93

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VFICX vs. VEIPX - Sharpe Ratio Comparison

The current VFICX Sharpe Ratio is 1.57, which is lower than the VEIPX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of VFICX and VEIPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

VFICXVEIPXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.57

2.38

-0.82

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.21

0.80

-0.59

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.52

0.73

-0.21

Sharpe Ratio (All Time)

Calculated using the full available price history

0.97

0.66

+0.32

Drawdowns

VFICX vs. VEIPX - Drawdown Comparison

The maximum VFICX drawdown since its inception was -20.24%, smaller than the maximum VEIPX drawdown of -54.12%. Use the drawdown chart below to compare losses from any high point for VFICX and VEIPX.

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Drawdown Indicators

VFICXVEIPXDifference

Max Drawdown

Largest peak-to-trough decline

-20.24%

-54.12%

+33.88%

Max Drawdown (1Y)

Largest decline over 1 year

-3.34%

-7.15%

+3.81%

Max Drawdown (3Y)

Largest decline over 3 years

-6.10%

-13.39%

+7.29%

Max Drawdown (5Y)

Largest decline over 5 years

-20.24%

-15.16%

-5.08%

Max Drawdown (10Y)

Largest decline over 10 years

-20.24%

-35.26%

+15.02%

Current Drawdown

Current decline from peak

-1.09%

0.00%

-1.09%

Average Drawdown

Average peak-to-trough decline

-2.49%

-5.50%

+3.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.97%

1.91%

-0.94%

Volatility

VFICX vs. VEIPX - Volatility Comparison

The current volatility for Vanguard Intermediate-Term Investment-Grade Fund Investor Shares (VFICX) is 1.55%, while Vanguard Equity Income Fund Investor Shares (VEIPX) has a volatility of 2.83%. This indicates that VFICX experiences smaller price fluctuations and is considered to be less risky than VEIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VFICXVEIPXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.55%

2.83%

-1.28%

Volatility (6M)

Calculated over the trailing 6-month period

3.11%

7.65%

-4.54%

Volatility (1Y)

Calculated over the trailing 1-year period

4.28%

10.25%

-5.97%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.39%

13.92%

-7.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.19%

16.30%

-11.11%

VFICX vs. VEIPX - Expense Ratio Comparison

VFICX has a 0.20% expense ratio, which is lower than VEIPX's 0.28% expense ratio.

Dividends

VFICX vs. VEIPX - Dividend Comparison

VFICX's dividend yield for the trailing twelve months is around 4.98%, less than VEIPX's 10.03% yield.

PositionTTM20252024202320222021202020192018201720162015
VEIPX
Vanguard Equity Income Fund Investor Shares		10.03%10.94%9.74%7.87%8.69%7.62%2.77%4.36%10.87%2.98%3.78%6.39%
VFICX
Vanguard Intermediate-Term Investment-Grade Fund Investor Shares		4.98%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 VEIPX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VEIPX has higher volatility (2.83%) compared to VFICX (1.55%). In terms of maximum drawdown, VFICX dropped -20.24% vs VEIPX's -54.12%.

VEIPX currently has the higher Sharpe Ratio (2.38 vs 1.57), 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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