VFIJX vs. VMBS
VFIJX (Vanguard GNMA Fund Admiral Shares) and VMBS (Vanguard Mortgage-Backed Securities ETF) are both funds - VFIJX is a Government Bonds fund managed by Vanguard, while VMBS is a Mortgage Backed Securities fund tracking the Barclays Capital U.S. MBS Index. Over the past 10 years, VFIJX returned 1.44%/yr vs 1.39%/yr for VMBS. A 0.80 correlation means they provide meaningful diversification when combined. VFIJX charges 0.11%/yr vs 0.04%/yr for VMBS.
Performance
VFIJX vs. VMBS - Performance Comparison
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Returns By Period
In the year-to-date period, VFIJX achieves a 1.26% return, which is significantly lower than VMBS's 1.48% return. Both investments have delivered pretty close results over the past 10 years, with VFIJX having a 1.44% annualized return and VMBS not far behind at 1.39%.
VFIJX
- 1D
- 0.43%
- 1M
- 0.74%
- YTD
- 1.26%
- 6M
- 1.48%
- 1Y
- 5.53%
- 3Y*
- 4.42%
- 5Y*
- 0.70%
- 10Y*
- 1.44%
VMBS
- 1D
- 0.09%
- 1M
- 0.84%
- YTD
- 1.48%
- 6M
- 1.35%
- 1Y
- 6.10%
- 3Y*
- 4.65%
- 5Y*
- 0.70%
- 10Y*
- 1.39%
VFIJX vs. VMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFIJX Vanguard GNMA Fund Admiral Shares | 1.26% | 7.84% | 1.17% | 5.28% | -10.72% | -1.15% | 3.84% | 5.94% | 0.99% | 1.98% |
VMBS Vanguard Mortgage-Backed Securities ETF | 1.48% | 8.36% | 1.70% | 5.34% | -11.90% | -1.28% | 3.76% | 6.19% | 0.91% | 2.47% |
Correlation
The correlation between VFIJX and VMBS is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.80 |
The correlation between VFIJX and VMBS shifts across timeframes, from 0.80 (all time) to 0.94 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VFIJX vs. VMBS — Risk / Return Rank
VFIJX
VMBS
VFIJX vs. VMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard GNMA Fund Admiral Shares (VFIJX) and Vanguard Mortgage-Backed Securities ETF (VMBS). 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.
| VFIJX | VMBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.26 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 2.28 | -0.19 |
| Martin ratioReturn relative to average drawdown | 6.19 | 7.23 | -1.04 |
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Drawdowns
VFIJX vs. VMBS - Drawdown Comparison
The maximum VFIJX drawdown since its inception was -16.06%, smaller than the maximum VMBS drawdown of -17.47%. Use the drawdown chart below to compare losses from any high point for VFIJX and VMBS.
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Drawdown Indicators
| VFIJX | VMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.06% | -17.47% | +1.41% |
Max Drawdown (1Y)Largest decline over 1 year | -2.71% | -2.68% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -6.95% | -7.65% | +0.70% |
Max Drawdown (5Y)Largest decline over 5 years | -15.68% | -17.12% | +1.44% |
Max Drawdown (10Y)Largest decline over 10 years | -16.06% | -17.47% | +1.41% |
Current DrawdownCurrent decline from peak | -0.93% | -0.52% | -0.41% |
Average DrawdownAverage peak-to-trough decline | -1.74% | -2.49% | +0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 0.85% | +0.06% |
Volatility
VFIJX vs. VMBS - Volatility Comparison
Vanguard GNMA Fund Admiral Shares (VFIJX) and Vanguard Mortgage-Backed Securities ETF (VMBS) have volatilities of 1.28% and 1.23%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFIJX | VMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 1.23% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 3.31% | -0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.96% | 4.31% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.23% | 6.79% | -0.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.71% | 5.41% | -0.70% |
VFIJX vs. VMBS - Expense Ratio Comparison
VFIJX has a 0.11% expense ratio, which is higher than VMBS'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
VFIJX vs. VMBS - Dividend Comparison
VFIJX's dividend yield for the trailing twelve months is around 3.77%, less than VMBS's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VFIJX Vanguard GNMA Fund Admiral Shares | 3.77% | 3.72% | 3.67% | 3.34% | 2.45% | 0.73% | 1.98% | 2.86% | 3.00% | 2.73% | 3.11% | 2.94% |
VMBS Vanguard Mortgage-Backed Securities ETF | 4.15% | 4.20% | 3.94% | 3.31% | 2.35% | 1.02% | 2.01% | 2.77% | 2.72% | 2.16% | 2.10% | 2.12% |
Frequently Asked Questions
VFIJX and VMBS have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VFIJX has higher volatility (1.28%) compared to VMBS (1.23%). In terms of maximum drawdown, VFIJX dropped -16.06% vs VMBS's -17.47%.
VFIJX currently has the higher Sharpe Ratio (1.44 vs 1.42), 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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