VFSTX vs. OSTIX
VFSTX (Vanguard Short-Term Investment-Grade Fund Investor Shares) and OSTIX (Osterweis Strategic Income Fund) are both mutual funds - VFSTX is a Total Bond Market fund managed by Vanguard, while OSTIX is a High Yield Bonds fund managed by Osterweis. Over the past 10 years, VFSTX returned 2.48%/yr vs 5.11%/yr for OSTIX. At a 0.14 correlation, their price movements are largely independent. VFSTX charges 0.20%/yr vs 0.84%/yr for OSTIX.
Performance
VFSTX vs. OSTIX - Performance Comparison
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Returns By Period
In the year-to-date period, VFSTX achieves a 0.38% return, which is significantly lower than OSTIX's 1.67% return. Over the past 10 years, VFSTX has underperformed OSTIX with an annualized return of 2.48%, while OSTIX has yielded a comparatively higher 5.11% annualized return.
VFSTX
- 1D
- -0.10%
- 1M
- 0.20%
- YTD
- 0.38%
- 6M
- 0.86%
- 1Y
- 3.98%
- 3Y*
- 5.52%
- 5Y*
- 2.26%
- 10Y*
- 2.48%
OSTIX
- 1D
- -0.09%
- 1M
- 0.47%
- YTD
- 1.67%
- 6M
- 1.82%
- 1Y
- 4.47%
- 3Y*
- 7.01%
- 5Y*
- 4.20%
- 10Y*
- 5.11%
VFSTX vs. OSTIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFSTX Vanguard Short-Term Investment-Grade Fund Investor Shares | 0.38% | 6.75% | 4.98% | 6.06% | -5.84% | -0.70% | 5.16% | 5.75% | 0.87% | 2.02% |
OSTIX Osterweis Strategic Income Fund | 1.67% | 4.04% | 8.03% | 12.29% | -5.94% | 5.48% | 9.01% | 5.36% | -0.66% | 6.00% |
Correlation
The correlation between VFSTX and OSTIX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2002 | 0.14 |
Over the past year, VFSTX and OSTIX have become more correlated (0.36) than their long-term average of 0.14, meaning their price movements have been converging.
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Return for Risk
VFSTX vs. OSTIX — Risk / Return Rank
VFSTX
OSTIX
VFSTX vs. OSTIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Investment-Grade Fund Investor Shares (VFSTX) and Osterweis Strategic Income Fund (OSTIX). 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.
| VFSTX | OSTIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.65 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 3.30 | -0.84 |
| Martin ratioReturn relative to average drawdown | 9.40 | 14.90 | -5.50 |
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Drawdowns
VFSTX vs. OSTIX - Drawdown Comparison
The maximum VFSTX drawdown since its inception was -9.35%, smaller than the maximum OSTIX drawdown of -10.06%. Use the drawdown chart below to compare losses from any high point for VFSTX and OSTIX.
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Drawdown Indicators
| VFSTX | OSTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.35% | -10.06% | +0.71% |
Max Drawdown (1Y)Largest decline over 1 year | -1.71% | -1.42% | -0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -1.71% | -3.27% | +1.56% |
Max Drawdown (5Y)Largest decline over 5 years | -9.35% | -9.75% | +0.40% |
Max Drawdown (10Y)Largest decline over 10 years | -9.35% | -10.06% | +0.71% |
Current DrawdownCurrent decline from peak | -0.64% | -0.18% | -0.46% |
Average DrawdownAverage peak-to-trough decline | -1.12% | -0.94% | -0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.31% | +0.14% |
Volatility
VFSTX vs. OSTIX - Volatility Comparison
Vanguard Short-Term Investment-Grade Fund Investor Shares (VFSTX) has a higher volatility of 0.78% compared to Osterweis Strategic Income Fund (OSTIX) at 0.42%. This indicates that VFSTX's price experiences larger fluctuations and is considered to be riskier than OSTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFSTX | OSTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 0.42% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 1.71% | 1.36% | +0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.32% | 1.70% | +0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.98% | 3.01% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.48% | 2.96% | -0.48% |
VFSTX vs. OSTIX - Expense Ratio Comparison
VFSTX has a 0.20% expense ratio, which is lower than OSTIX's 0.84% expense ratio.
Dividends
VFSTX vs. OSTIX - Dividend Comparison
VFSTX's dividend yield for the trailing twelve months is around 4.62%, less than OSTIX's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OSTIX Osterweis Strategic Income Fund | 4.75% | 3.96% | 5.25% | 5.72% | 4.72% | 4.03% | 3.85% | 4.74% | 4.66% | 4.58% | 5.23% | 5.98% |
VFSTX Vanguard Short-Term Investment-Grade Fund Investor Shares | 4.62% | 4.48% | 4.06% | 3.05% | 1.93% | 1.70% | 2.24% | 2.83% | 2.68% | 2.00% | 2.04% | 1.99% |
Frequently Asked Questions
VFSTX and OSTIX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VFSTX has higher volatility (0.78%) compared to OSTIX (0.42%). In terms of maximum drawdown, VFSTX dropped -9.35% vs OSTIX's -10.06%.
OSTIX currently has the higher Sharpe Ratio (2.75 vs 1.81), 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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