VGAVX vs. VEGBX
VGAVX (Vanguard Emerging Markets Government Bond Index Fund Admiral Shares) and VEGBX (Vanguard Emerging Markets Bond Fund Admiral Shares) are both mutual funds - VGAVX is a Government Bonds fund managed by Vanguard, while VEGBX is a Emerging Markets Bonds fund actively managed by Vanguard. Over the past 5 years, VGAVX returned 1.83%/yr vs 4.15%/yr for VEGBX. Their correlation of 0.95 means they have usually moved in the same direction. VGAVX charges 0.20%/yr vs 0.35%/yr for VEGBX.
Performance
VGAVX vs. VEGBX - Performance Comparison
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Returns By Period
In the year-to-date period, VGAVX achieves a 0.37% return, which is significantly lower than VEGBX's 2.18% return.
VGAVX
- 1D
- -0.18%
- 1M
- -1.60%
- 6M
- 0.19%
- YTD
- 0.37%
- 1Y
- 6.24%
- 3Y*
- 8.05%
- 5Y*
- 1.83%
- 10Y*
- 3.15%
- ALL TIME*
- 3.94%
VEGBX
- 1D
- -0.16%
- 1M
- -1.12%
- 6M
- 1.65%
- YTD
- 2.18%
- 1Y
- 8.90%
- 3Y*
- 9.99%
- 5Y*
- 4.15%
- 10Y*
- —
- ALL TIME*
- 6.69%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VGAVX vs. VEGBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGAVX Vanguard Emerging Markets Government Bond Index Fund Admiral Shares | 0.37% | 12.98% | 6.27% | 10.44% | -16.68% | -1.74% | 5.82% | 14.01% | -2.77% | 7.02% |
VEGBX Vanguard Emerging Markets Bond Fund Admiral Shares | 2.18% | 14.46% | 7.60% | 13.81% | -13.02% | -1.44% | 15.18% | 17.87% | -0.66% | 11.65% |
Correlation
The correlation between VGAVX and VEGBX is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.97 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.95 |
The correlation between VGAVX and VEGBX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
VGAVX vs. VEGBX — Risk / Return Rank
VGAVX
VEGBX
VGAVX vs. VEGBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Government Bond Index Fund Admiral Shares (VGAVX) and Vanguard Emerging Markets Bond Fund Admiral Shares (VEGBX). 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.
| VGAVX | VEGBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.42 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.64 | 2.46 | -0.82 |
| Martin ratioReturn relative to average drawdown | 6.24 | 10.42 | -4.18 |
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Drawdowns
VGAVX vs. VEGBX - Drawdown Comparison
The maximum VGAVX drawdown since its inception was -26.77%, which is greater than VEGBX's maximum drawdown of -24.27%. Use the drawdown chart below to compare losses from any high point for VGAVX and VEGBX.
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Drawdown Indicators
| VGAVX | VEGBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.77% | -24.27% | -2.50% |
Max Drawdown (1Y)Largest decline over 1 year | -3.97% | -3.79% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -6.21% | -4.96% | -1.25% |
Max Drawdown (5Y)Largest decline over 5 years | -26.77% | -24.27% | -2.50% |
Max Drawdown (10Y)Largest decline over 10 years | -26.77% | — | — |
Current DrawdownCurrent decline from peak | -1.91% | -1.41% | -0.50% |
Average DrawdownAverage peak-to-trough decline | -4.63% | -3.79% | -0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.89% | +0.15% |
Volatility
VGAVX vs. VEGBX - Volatility Comparison
Vanguard Emerging Markets Government Bond Index Fund Admiral Shares (VGAVX) and Vanguard Emerging Markets Bond Fund Admiral Shares (VEGBX) have volatilities of 1.01% and 0.98%, 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
| VGAVX | VEGBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 0.98% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.50% | 3.70% | -0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.19% | 4.36% | -0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.34% | 6.37% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.37% | 6.33% | +0.04% |
VGAVX vs. VEGBX - Expense Ratio Comparison
VGAVX has a 0.20% expense ratio, which is lower than VEGBX's 0.35% expense ratio.
Dividends
VGAVX vs. VEGBX - Dividend Comparison
VGAVX's dividend yield for the trailing twelve months is around 5.30%, less than VEGBX's 5.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VEGBX Vanguard Emerging Markets Bond Fund Admiral Shares | 5.63% | 6.34% | 7.02% | 7.20% | 5.61% | 5.14% | 4.62% | 6.42% | 5.00% | 0.39% | 0.00% | 0.00% |
VGAVX Vanguard Emerging Markets Government Bond Index Fund Admiral Shares | 5.30% | 5.88% | 6.56% | 5.50% | 5.29% | 4.27% | 4.20% | 4.60% | 4.54% | 4.62% | 4.73% | 4.94% |
Frequently Asked Questions
With a correlation of 0.97, VGAVX and VEGBX 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.
VGAVX has higher volatility (1.01%) compared to VEGBX (0.98%). In terms of maximum drawdown, VGAVX dropped -26.77% vs VEGBX's -24.27%.
VEGBX currently has the higher Sharpe Ratio (2.14 vs 1.55), 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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