VFIIX vs. VBMPX
VFIIX (Vanguard GNMA Fund Investor Shares) and VBMPX (Vanguard Total Bond Market Index Fund Institutional Plus Shares) are both Total Bond Market funds from Vanguard. Over the past 10 years, VFIIX returned 1.31%/yr vs 1.58%/yr for VBMPX. Their correlation of 0.85 suggests significant overlap in exposure. VFIIX charges 0.21%/yr vs 0.03%/yr for VBMPX.
Performance
VFIIX vs. VBMPX - Performance Comparison
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Returns By Period
In the year-to-date period, VFIIX achieves a 0.79% return, which is significantly higher than VBMPX's 0.43% return. Over the past 10 years, VFIIX has underperformed VBMPX with an annualized return of 1.31%, while VBMPX has yielded a comparatively higher 1.58% annualized return.
VFIIX
- 1D
- 0.00%
- 1M
- 0.31%
- YTD
- 0.79%
- 6M
- 0.89%
- 1Y
- 6.35%
- 3Y*
- 4.25%
- 5Y*
- 0.47%
- 10Y*
- 1.31%
VBMPX
- 1D
- 0.00%
- 1M
- 0.55%
- YTD
- 0.43%
- 6M
- 0.36%
- 1Y
- 5.36%
- 3Y*
- 4.06%
- 5Y*
- 0.23%
- 10Y*
- 1.58%
VFIIX vs. VBMPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFIIX Vanguard GNMA Fund Investor Shares | 0.79% | 7.73% | 1.07% | 5.17% | -10.81% | -1.24% | 3.73% | 5.84% | 0.89% | 1.88% |
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares | 0.43% | 7.18% | 1.27% | 5.75% | -13.14% | -1.95% | 7.75% | 8.74% | -0.24% | 3.58% |
Correlation
The correlation between VFIIX and VBMPX is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2010 | 0.85 |
The correlation between VFIIX and VBMPX shifts across timeframes, from 0.85 (all time) to 0.96 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VFIIX vs. VBMPX — Risk / Return Rank
VFIIX
VBMPX
VFIIX vs. VBMPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard GNMA Fund Investor Shares (VFIIX) and Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX). 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.
| VFIIX | VBMPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.24 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 1.86 | +0.39 |
| Martin ratioReturn relative to average drawdown | 7.47 | 5.61 | +1.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VFIIX | VBMPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.60 | 1.36 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.04 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.32 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.52 | +0.12 |
Drawdowns
VFIIX vs. VBMPX - Drawdown Comparison
The maximum VFIIX drawdown since its inception was -25.80%, which is greater than VBMPX's maximum drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for VFIIX and VBMPX.
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Drawdown Indicators
| VFIIX | VBMPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.80% | -18.90% | -6.90% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -2.89% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -6.97% | -5.99% | -0.98% |
Max Drawdown (5Y)Largest decline over 5 years | -15.79% | -18.12% | +2.33% |
Max Drawdown (10Y)Largest decline over 10 years | -16.20% | -18.90% | +2.70% |
Current DrawdownCurrent decline from peak | -1.38% | -2.23% | +0.85% |
Average DrawdownAverage peak-to-trough decline | -2.98% | -3.53% | +0.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 0.96% | -0.11% |
Volatility
VFIIX vs. VBMPX - Volatility Comparison
Vanguard GNMA Fund Investor Shares (VFIIX) has a higher volatility of 1.54% compared to Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX) at 1.38%. This indicates that VFIIX's price experiences larger fluctuations and is considered to be riskier than VBMPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFIIX | VBMPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 1.38% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.94% | 2.80% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.01% | 3.97% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.21% | 6.02% | +0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.70% | 4.98% | -0.28% |
VFIIX vs. VBMPX - Expense Ratio Comparison
VFIIX has a 0.21% expense ratio, which is higher than VBMPX'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
VFIIX vs. VBMPX - Dividend Comparison
VFIIX's dividend yield for the trailing twelve months is around 3.69%, less than VBMPX's 4.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares | 4.00% | 3.88% | 3.69% | 3.11% | 2.61% | 1.81% | 2.41% | 2.75% | 2.58% | 2.58% | 2.55% | 2.85% |
VFIIX Vanguard GNMA Fund Investor Shares | 3.69% | 3.62% | 3.58% | 3.23% | 2.34% | 0.63% | 1.87% | 2.76% | 2.90% | 2.64% | 3.01% | 2.84% |
Frequently Asked Questions
With a correlation of 0.93, VFIIX and VBMPX 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.
VFIIX has higher volatility (1.54%) compared to VBMPX (1.38%). In terms of maximum drawdown, VFIIX dropped -25.80% vs VBMPX's -18.90%.
VFIIX currently has the higher Sharpe Ratio (1.60 vs 1.36), 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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