VFIJX vs. VGIVX
VFIJX (Vanguard GNMA Fund Admiral Shares) and VGIVX (Vanguard Emerging Markets Government Bond Index Fund Institutional Shares) are both Government Bonds funds from Vanguard. Over the past 10 years, VFIJX returned 1.41%/yr vs 3.65%/yr for VGIVX. At a 0.43 correlation, their price movements are largely independent. VFIJX charges 0.11%/yr vs 0.18%/yr for VGIVX.
Performance
VFIJX vs. VGIVX - Performance Comparison
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Returns By Period
In the year-to-date period, VFIJX achieves a 0.83% return, which is significantly lower than VGIVX's 1.70% return. Over the past 10 years, VFIJX has underperformed VGIVX with an annualized return of 1.41%, while VGIVX has yielded a comparatively higher 3.65% annualized return.
VFIJX
- 1D
- 0.00%
- 1M
- 0.32%
- YTD
- 0.83%
- 6M
- 0.94%
- 1Y
- 6.46%
- 3Y*
- 4.35%
- 5Y*
- 0.58%
- 10Y*
- 1.41%
VGIVX
- 1D
- 0.22%
- 1M
- 1.04%
- YTD
- 1.70%
- 6M
- 1.99%
- 1Y
- 11.36%
- 3Y*
- 9.79%
- 5Y*
- 2.38%
- 10Y*
- 3.65%
VFIJX vs. VGIVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFIJX Vanguard GNMA Fund Admiral Shares | 0.83% | 7.84% | 1.17% | 5.28% | -10.72% | -1.15% | 3.84% | 5.94% | 0.99% | 1.98% |
VGIVX Vanguard Emerging Markets Government Bond Index Fund Institutional Shares | 1.70% | 13.05% | 6.31% | 10.48% | -16.72% | -2.41% | 5.83% | 14.03% | -2.72% | 8.47% |
Correlation
The correlation between VFIJX and VGIVX is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014 | 0.43 |
The correlation between VFIJX and VGIVX shifts across timeframes, from 0.43 (all time) to 0.67 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VFIJX vs. VGIVX — Risk / Return Rank
VFIJX
VGIVX
VFIJX vs. VGIVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard GNMA Fund Admiral Shares (VFIJX) and Vanguard Emerging Markets Government Bond Index Fund Institutional Shares (VGIVX). 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.
| VFIJX | VGIVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -2.07 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.58 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 2.98 | -0.59 |
| Martin ratioReturn relative to average drawdown | 7.61 | 11.93 | -4.32 |
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
| VFIJX | VGIVX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.63 | 2.85 | -1.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | 0.38 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.58 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.69 | +0.12 |
Drawdowns
VFIJX vs. VGIVX - Drawdown Comparison
The maximum VFIJX drawdown since its inception was -16.06%, smaller than the maximum VGIVX drawdown of -26.79%. Use the drawdown chart below to compare losses from any high point for VFIJX and VGIVX.
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Drawdown Indicators
| VFIJX | VGIVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.06% | -26.79% | +10.73% |
Max Drawdown (1Y)Largest decline over 1 year | -2.71% | -3.93% | +1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -6.95% | -7.14% | +0.19% |
Max Drawdown (5Y)Largest decline over 5 years | -15.68% | -26.79% | +11.11% |
Max Drawdown (10Y)Largest decline over 10 years | -16.06% | -26.79% | +10.73% |
Current DrawdownCurrent decline from peak | -1.35% | -0.07% | -1.28% |
Average DrawdownAverage peak-to-trough decline | -1.74% | -4.70% | +2.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 0.98% | -0.13% |
Volatility
VFIJX vs. VGIVX - Volatility Comparison
The current volatility for Vanguard GNMA Fund Admiral Shares (VFIJX) is 1.38%, while Vanguard Emerging Markets Government Bond Index Fund Institutional Shares (VGIVX) has a volatility of 1.56%. This indicates that VFIJX experiences smaller price fluctuations and is considered to be less risky than VGIVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFIJX | VGIVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 1.56% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.84% | 3.35% | -0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.98% | 4.12% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.21% | 6.30% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.70% | 6.36% | -1.66% |
VFIJX vs. VGIVX - Expense Ratio Comparison
VFIJX has a 0.11% expense ratio, which is lower than VGIVX's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VFIJX vs. VGIVX - Dividend Comparison
VFIJX's dividend yield for the trailing twelve months is around 3.78%, less than VGIVX's 5.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VFIJX Vanguard GNMA Fund Admiral Shares | 3.78% | 3.72% | 3.67% | 3.34% | 2.45% | 0.73% | 1.98% | 2.86% | 3.00% | 2.73% | 3.11% | 2.94% |
VGIVX Vanguard Emerging Markets Government Bond Index Fund Institutional Shares | 5.88% | 5.95% | 6.58% | 5.53% | 5.32% | 3.53% | 4.21% | 4.62% | 4.62% | 4.67% | 4.76% | 4.55% |
Frequently Asked Questions
VFIJX and VGIVX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGIVX has higher volatility (1.56%) compared to VFIJX (1.38%). In terms of maximum drawdown, VFIJX dropped -16.06% vs VGIVX's -26.79%.
VGIVX currently has the higher Sharpe Ratio (2.85 vs 1.63), 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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