VFITX vs. VFIIX
VFITX (Vanguard Intermediate-Term Treasury Fund Investor Shares) and VFIIX (Vanguard GNMA Fund Investor Shares) are both mutual funds - VFITX is a Government Bonds fund managed by Vanguard, while VFIIX is a Total Bond Market fund managed by Vanguard. Over the past 10 years, VFITX returned 1.17%/yr vs 1.29%/yr for VFIIX. Their correlation of 0.83 suggests significant overlap in exposure. VFITX charges 0.20%/yr vs 0.21%/yr for VFIIX.
Performance
VFITX vs. VFIIX - Performance Comparison
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Returns By Period
In the year-to-date period, VFITX achieves a -0.81% return, which is significantly lower than VFIIX's 0.68% return. Over the past 10 years, VFITX has underperformed VFIIX with an annualized return of 1.17%, while VFIIX has yielded a comparatively higher 1.29% annualized return.
VFITX
- 1D
- -0.30%
- 1M
- 0.33%
- YTD
- -0.81%
- 6M
- -0.39%
- 1Y
- 2.70%
- 3Y*
- 3.51%
- 5Y*
- 0.04%
- 10Y*
- 1.17%
VFIIX
- 1D
- -0.21%
- 1M
- 0.63%
- YTD
- 0.68%
- 6M
- 1.10%
- 1Y
- 5.32%
- 3Y*
- 4.14%
- 5Y*
- 0.47%
- 10Y*
- 1.29%
VFITX vs. VFIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFITX Vanguard Intermediate-Term Treasury Fund Investor Shares | -0.81% | 7.54% | 1.39% | 4.08% | -10.43% | -2.38% | 8.20% | 6.29% | 1.01% | 1.57% |
VFIIX Vanguard GNMA Fund Investor Shares | 0.68% | 7.73% | 1.07% | 5.17% | -10.81% | -1.24% | 3.73% | 5.84% | 0.89% | 1.88% |
Correlation
The correlation between VFITX and VFIIX is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 1991 | 0.83 |
The correlation between VFITX and VFIIX shifts across timeframes, from 0.83 (all time) to 0.94 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VFITX vs. VFIIX — Risk / Return Rank
VFITX
VFIIX
VFITX vs. VFIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Treasury Fund Investor Shares (VFITX) and Vanguard GNMA Fund Investor Shares (VFIIX). 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.
| VFITX | VFIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.25 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.94 | 1.97 | -1.03 |
| Martin ratioReturn relative to average drawdown | 2.49 | 6.10 | -3.61 |
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Drawdowns
VFITX vs. VFIIX - Drawdown Comparison
The maximum VFITX drawdown since its inception was -15.58%, smaller than the maximum VFIIX drawdown of -25.80%. Use the drawdown chart below to compare losses from any high point for VFITX and VFIIX.
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Drawdown Indicators
| VFITX | VFIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.58% | -25.80% | +10.22% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -2.83% | -0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -4.75% | -6.97% | +2.22% |
Max Drawdown (5Y)Largest decline over 5 years | -14.98% | -15.79% | +0.81% |
Max Drawdown (10Y)Largest decline over 10 years | -15.58% | -16.20% | +0.62% |
Current DrawdownCurrent decline from peak | -2.49% | -1.48% | -1.01% |
Average DrawdownAverage peak-to-trough decline | -2.64% | -2.98% | +0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 0.91% | +0.30% |
Volatility
VFITX vs. VFIIX - Volatility Comparison
Vanguard Intermediate-Term Treasury Fund Investor Shares (VFITX) and Vanguard GNMA Fund Investor Shares (VFIIX) have volatilities of 1.26% and 1.21%, 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
| VFITX | VFIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 1.21% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.88% | 3.01% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.88% | 3.98% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.64% | 6.22% | -0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.67% | 4.71% | -0.04% |
VFITX vs. VFIIX - Expense Ratio Comparison
VFITX has a 0.20% expense ratio, which is lower than VFIIX's 0.21% 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
VFITX vs. VFIIX - Dividend Comparison
VFITX's dividend yield for the trailing twelve months is around 3.94%, more than VFIIX's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VFITX Vanguard Intermediate-Term Treasury Fund Investor Shares | 3.94% | 3.90% | 4.05% | 3.45% | 1.97% | 0.99% | 4.84% | 2.30% | 2.34% | 1.75% | 2.77% | 2.50% |
Frequently Asked Questions
With a correlation of 0.92, VFITX and VFIIX 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.
VFITX has higher volatility (1.26%) compared to VFIIX (1.21%). In terms of maximum drawdown, VFITX dropped -15.58% vs VFIIX's -25.80%.
VFIIX currently has the higher Sharpe Ratio (1.40 vs 0.78), 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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