VFIDX vs. BCOIX

Last updated Jun 4, 2026

VFIDX (Vanguard Intermediate-Term Investment-Grade Fund Admiral Shares) and BCOIX (Baird Core Plus Bond Fund) are both mutual funds - VFIDX is a Total Bond Market fund managed by Vanguard, while BCOIX is a Intermediate Core-Plus Bond fund managed by Baird. Over the past 10 years, VFIDX returned 2.79%/yr vs 2.43%/yr for BCOIX. Their correlation of 0.89 suggests significant overlap in exposure. VFIDX charges 0.10%/yr vs 0.30%/yr for BCOIX.

Performance

VFIDX vs. BCOIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Intermediate-Term Investment-Grade Fund Admiral Shares (VFIDX) and Baird Core Plus Bond Fund (BCOIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VFIDX having a 0.42% return and BCOIX slightly higher at 0.44%. Over the past 10 years, VFIDX has outperformed BCOIX with an annualized return of 2.79%, while BCOIX has yielded a comparatively lower 2.43% annualized return.

VFIDX

• 1D: 0.11%
• 1M: 0.66%
• YTD: 0.42%
• 6M: 0.50%
• 1Y: 6.64%
• 3Y*: 6.17%
• 5Y*: 1.43%
• 10Y*: 2.79%

BCOIX

• 1D: 0.00%
• 1M: 0.48%
• YTD: 0.44%
• 6M: 0.47%
• 1Y: 5.65%
• 3Y*: 4.90%
• 5Y*: 0.82%
• 10Y*: 2.43%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VFIDX vs. BCOIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VFIDX Vanguard Intermediate-Term Investment-Grade Fund Admiral Shares	0.42%	9.67%	3.29%	8.63%	-13.77%	-1.51%	10.44%	10.50%	-0.44%	4.28%
BCOIX Baird Core Plus Bond Fund	0.44%	7.47%	2.54%	6.89%	-12.86%	-1.02%	8.80%	10.11%	-0.52%	4.65%

Correlation

The correlation between VFIDX and BCOIX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Feb 13, 2001	0.89

The correlation between VFIDX and BCOIX has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.

Return for Risk

VFIDX vs. BCOIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VFIDX

VFIDX Risk / Return Rank: 31
VFIDX Sharpe Ratio Rank: 31
VFIDX Sortino Ratio Rank: 33
VFIDX Omega Ratio Rank: 31
VFIDX Calmar Ratio Rank: 29
VFIDX Martin Ratio Rank: 30

BCOIX

BCOIX Risk / Return Rank: 30
BCOIX Sharpe Ratio Rank: 29
BCOIX Sortino Ratio Rank: 31
BCOIX Omega Ratio Rank: 29
BCOIX Calmar Ratio Rank: 34
BCOIX Martin Ratio Rank: 27

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.

VFIDX vs. BCOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Investment-Grade Fund Admiral Shares (VFIDX) and Baird Core Plus Bond Fund (BCOIX). 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.

	VFIDX	BCOIX	Difference
Sharpe ratio: Return per unit of total volatility	1.59	1.53	+0.06
Sortino ratio: Return per unit of downside risk	2.40	2.30	+0.10
Omega ratio: Gain probability vs. loss probability	1.29	1.28	+0.01
Calmar ratio: Return relative to maximum drawdown	2.04	2.20	-0.16
Martin ratio: Return relative to average drawdown	7.00	6.53	+0.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VFIDX vs. BCOIX - Sharpe Ratio Comparison

The current VFIDX Sharpe Ratio is 1.59, which is comparable to the BCOIX Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of VFIDX and BCOIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VFIDX	BCOIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	1.53	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.15	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.52	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	1.07	-0.19

Drawdowns

VFIDX vs. BCOIX - Drawdown Comparison

The maximum VFIDX drawdown since its inception was -20.14%, which is greater than BCOIX's maximum drawdown of -18.13%. Use the drawdown chart below to compare losses from any high point for VFIDX and BCOIX.

Drawdown Indicators

	VFIDX	BCOIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.14%	-18.13%	-2.01%
Max Drawdown (1Y) Largest decline over 1 year	-3.34%	-2.58%	-0.76%
Max Drawdown (3Y) Largest decline over 3 years	-6.08%	-5.61%	-0.47%
Max Drawdown (5Y) Largest decline over 5 years	-20.14%	-18.13%	-2.01%
Max Drawdown (10Y) Largest decline over 10 years	-20.14%	-18.13%	-2.01%
Current Drawdown Current decline from peak	-1.06%	-1.24%	+0.18%
Average Drawdown Average peak-to-trough decline	-2.60%	-2.19%	-0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	0.87%	+0.10%

Volatility

VFIDX vs. BCOIX - Volatility Comparison

Vanguard Intermediate-Term Investment-Grade Fund Admiral Shares (VFIDX) has a higher volatility of 1.56% compared to Baird Core Plus Bond Fund (BCOIX) at 1.30%. This indicates that VFIDX's price experiences larger fluctuations and is considered to be riskier than BCOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VFIDX	BCOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.56%	1.30%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	3.12%	2.69%	+0.43%
Volatility (1Y) Calculated over the trailing 1-year period	4.29%	3.72%	+0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.39%	5.64%	+0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.20%	4.67%	+0.53%

VFIDX vs. BCOIX - Expense Ratio Comparison

VFIDX has a 0.10% expense ratio, which is lower than BCOIX's 0.30% expense ratio.

Dividends

VFIDX vs. BCOIX - Dividend Comparison

VFIDX's dividend yield for the trailing twelve months is around 5.09%, more than BCOIX's 4.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCOIX Baird Core Plus Bond Fund	4.35%	4.21%	4.13%	3.58%	3.10%	2.96%	3.51%	2.96%	3.13%	2.83%	3.01%	2.84%
VFIDX Vanguard Intermediate-Term Investment-Grade Fund Admiral Shares	5.09%	4.91%	4.65%	3.90%	3.20%	3.61%	5.80%	3.13%	3.32%	3.06%	3.94%	3.64%

Frequently Asked Questions

Can I hold both VFIDX and BCOIX in my portfolio?

VFIDX and BCOIX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VFIDX or BCOIX?

VFIDX has higher volatility (1.56%) compared to BCOIX (1.30%). In terms of maximum drawdown, VFIDX dropped -20.14% vs BCOIX's -18.13%.

Which has better risk-adjusted returns?

VFIDX currently has the higher Sharpe Ratio (1.59 vs 1.53), 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.