VFSIX vs. VBTIX
VFSIX (Vanguard Short-Term Investment-Grade Fund Institutional Shares) and VBTIX (Vanguard Total Bond Market Index Fund Institutional Shares) are both Total Bond Market funds from Vanguard. Over the past 10 years, VFSIX returned 2.63%/yr vs 1.58%/yr for VBTIX. Their correlation of 0.81 suggests significant overlap in exposure. VFSIX charges 0.07%/yr vs 0.04%/yr for VBTIX.
Performance
VFSIX vs. VBTIX - Performance Comparison
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Returns By Period
In the year-to-date period, VFSIX achieves a 0.83% return, which is significantly higher than VBTIX's 0.43% return. Over the past 10 years, VFSIX has outperformed VBTIX with an annualized return of 2.63%, while VBTIX has yielded a comparatively lower 1.58% annualized return.
VFSIX
- 1D
- 0.00%
- 1M
- 0.31%
- YTD
- 0.83%
- 6M
- 1.12%
- 1Y
- 4.82%
- 3Y*
- 5.55%
- 5Y*
- 2.37%
- 10Y*
- 2.63%
VBTIX
- 1D
- 0.00%
- 1M
- 0.55%
- YTD
- 0.43%
- 6M
- 0.35%
- 1Y
- 5.36%
- 3Y*
- 4.06%
- 5Y*
- 0.22%
- 10Y*
- 1.58%
VFSIX vs. VBTIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFSIX Vanguard Short-Term Investment-Grade Fund Institutional Shares | 0.83% | 6.89% | 5.12% | 5.88% | -5.72% | -0.59% | 5.28% | 5.88% | 1.00% | 2.15% |
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | 0.43% | 7.18% | 1.27% | 5.75% | -13.15% | -1.95% | 7.75% | 8.74% | -0.24% | 3.56% |
Correlation
The correlation between VFSIX and VBTIX is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 1997 | 0.81 |
The correlation between VFSIX and VBTIX has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.
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Return for Risk
VFSIX vs. VBTIX — Risk / Return Rank
VFSIX
VBTIX
VFSIX vs. VBTIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Investment-Grade Fund Institutional Shares (VFSIX) and Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX). 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.
| VFSIX | VBTIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.24 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 1.86 | +0.98 |
| Martin ratioReturn relative to average drawdown | 11.24 | 5.60 | +5.64 |
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
| VFSIX | VBTIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 1.36 | +0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | 0.04 | +0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.06 | 0.32 | +0.74 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.53 | 0.95 | +0.59 |
Drawdowns
VFSIX vs. VBTIX - Drawdown Comparison
The maximum VFSIX drawdown since its inception was -9.21%, smaller than the maximum VBTIX drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for VFSIX and VBTIX.
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Drawdown Indicators
| VFSIX | VBTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.21% | -18.90% | +9.69% |
Max Drawdown (1Y)Largest decline over 1 year | -1.71% | -2.89% | +1.18% |
Max Drawdown (3Y)Largest decline over 3 years | -1.71% | -5.99% | +4.28% |
Max Drawdown (5Y)Largest decline over 5 years | -9.21% | -18.13% | +8.92% |
Max Drawdown (10Y)Largest decline over 10 years | -9.21% | -18.90% | +9.69% |
Current DrawdownCurrent decline from peak | -0.23% | -2.25% | +2.02% |
Average DrawdownAverage peak-to-trough decline | -0.79% | -2.32% | +1.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.96% | -0.53% |
Volatility
VFSIX vs. VBTIX - Volatility Comparison
The current volatility for Vanguard Short-Term Investment-Grade Fund Institutional Shares (VFSIX) is 0.75%, while Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) has a volatility of 1.38%. This indicates that VFSIX experiences smaller price fluctuations and is considered to be less risky than VBTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFSIX | VBTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 1.38% | -0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 1.67% | 2.80% | -1.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.33% | 3.97% | -1.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.99% | 6.02% | -3.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.49% | 4.98% | -2.49% |
VFSIX vs. VBTIX - Expense Ratio Comparison
VFSIX has a 0.07% expense ratio, which is higher than VBTIX'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
VFSIX vs. VBTIX - Dividend Comparison
VFSIX's dividend yield for the trailing twelve months is around 4.74%, more than VBTIX's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | 3.99% | 3.88% | 3.69% | 3.12% | 2.61% | 1.81% | 2.41% | 2.75% | 2.58% | 2.56% | 2.54% | 2.84% |
VFSIX Vanguard Short-Term Investment-Grade Fund Institutional Shares | 4.74% | 4.61% | 4.19% | 2.88% | 2.06% | 1.81% | 2.35% | 2.95% | 2.80% | 2.13% | 2.17% | 2.12% |
Frequently Asked Questions
VFSIX and VBTIX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBTIX has higher volatility (1.38%) compared to VFSIX (0.75%). In terms of maximum drawdown, VFSIX dropped -9.21% vs VBTIX's -18.90%.
VFSIX currently has the higher Sharpe Ratio (2.08 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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