VFSTX vs. VFICX
VFSTX (Vanguard Short-Term Investment-Grade Fund Investor Shares) and VFICX (Vanguard Intermediate-Term Investment-Grade Fund Investor Shares) are both Total Bond Market funds from Vanguard. Over the past 10 years, VFSTX returned 2.50%/yr vs 2.66%/yr for VFICX. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.
Performance
VFSTX vs. VFICX - Performance Comparison
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Returns By Period
In the year-to-date period, VFSTX achieves a 0.48% return, which is significantly higher than VFICX's 0.15% return. Over the past 10 years, VFSTX has underperformed VFICX with an annualized return of 2.50%, while VFICX has yielded a comparatively higher 2.66% annualized return.
VFSTX
- 1D
- 0.10%
- 1M
- 0.30%
- YTD
- 0.48%
- 6M
- 0.86%
- 1Y
- 4.28%
- 3Y*
- 5.52%
- 5Y*
- 2.28%
- 10Y*
- 2.50%
VFICX
- 1D
- 0.23%
- 1M
- 0.77%
- YTD
- 0.15%
- 6M
- 0.67%
- 1Y
- 5.67%
- 3Y*
- 6.11%
- 5Y*
- 1.13%
- 10Y*
- 2.66%
VFSTX vs. VFICX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFSTX Vanguard Short-Term Investment-Grade Fund Investor Shares | 0.48% | 6.75% | 4.98% | 6.06% | -5.84% | -0.70% | 5.16% | 5.75% | 0.87% | 2.02% |
VFICX Vanguard Intermediate-Term Investment-Grade Fund Investor Shares | 0.15% | 9.55% | 3.21% | 8.53% | -13.86% | -1.59% | 10.33% | 10.39% | -0.56% | 4.17% |
Correlation
The correlation between VFSTX and VFICX is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 1993 | 0.85 |
The correlation between VFSTX and VFICX has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.
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Return for Risk
VFSTX vs. VFICX — Risk / Return Rank
VFSTX
VFICX
VFSTX vs. VFICX - 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 Vanguard Intermediate-Term Investment-Grade Fund Investor Shares (VFICX). 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 | VFICX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.25 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 1.74 | +0.78 |
| Martin ratioReturn relative to average drawdown | 9.67 | 5.69 | +3.98 |
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Drawdowns
VFSTX vs. VFICX - Drawdown Comparison
The maximum VFSTX drawdown since its inception was -9.35%, smaller than the maximum VFICX drawdown of -20.24%. Use the drawdown chart below to compare losses from any high point for VFSTX and VFICX.
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Drawdown Indicators
| VFSTX | VFICX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.35% | -20.24% | +10.89% |
Max Drawdown (1Y)Largest decline over 1 year | -1.71% | -3.34% | +1.63% |
Max Drawdown (3Y)Largest decline over 3 years | -1.71% | -6.10% | +4.39% |
Max Drawdown (5Y)Largest decline over 5 years | -9.35% | -20.24% | +10.89% |
Max Drawdown (10Y)Largest decline over 10 years | -9.35% | -20.24% | +10.89% |
Current DrawdownCurrent decline from peak | -0.55% | -1.32% | +0.77% |
Average DrawdownAverage peak-to-trough decline | -1.12% | -2.49% | +1.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 1.02% | -0.58% |
Volatility
VFSTX vs. VFICX - Volatility Comparison
The current volatility for Vanguard Short-Term Investment-Grade Fund Investor Shares (VFSTX) is 0.79%, while Vanguard Intermediate-Term Investment-Grade Fund Investor Shares (VFICX) has a volatility of 1.38%. This indicates that VFSTX experiences smaller price fluctuations and is considered to be less risky than VFICX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFSTX | VFICX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 1.38% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 1.71% | 3.22% | -1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.31% | 4.24% | -1.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.98% | 6.39% | -3.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.48% | 5.19% | -2.71% |
VFSTX vs. VFICX - Expense Ratio Comparison
Both VFSTX and VFICX have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VFSTX vs. VFICX - Dividend Comparison
VFSTX's dividend yield for the trailing twelve months is around 4.62%, less than VFICX's 4.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VFICX Vanguard Intermediate-Term Investment-Grade Fund Investor Shares | 4.99% | 4.81% | 4.57% | 3.81% | 3.09% | 3.53% | 5.70% | 3.03% | 3.20% | 2.96% | 3.84% | 3.54% |
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 VFICX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VFICX has higher volatility (1.38%) compared to VFSTX (0.79%). In terms of maximum drawdown, VFSTX dropped -9.35% vs VFICX's -20.24%.
VFSTX currently has the higher Sharpe Ratio (1.86 vs 1.37), 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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