VGCIX vs. VFIAX

Last updated Jun 5, 2026

VGCIX (Vanguard Global Credit Bond Fund Investor Shares) and VFIAX (Vanguard 500 Index Fund Admiral Shares) are both mutual funds - VGCIX is a Total Bond Market fund managed by Vanguard, while VFIAX is a S&P 500 fund tracking the S&P 500 Index. Over the past 5 years, VGCIX returned 1.30%/yr vs 13.87%/yr for VFIAX. At a 0.13 correlation, their price movements are largely independent. VGCIX charges 0.35%/yr vs 0.04%/yr for VFIAX.

Performance

VGCIX vs. VFIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Global Credit Bond Fund Investor Shares (VGCIX) and Vanguard 500 Index Fund Admiral Shares (VFIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VGCIX achieves a 0.76% return, which is significantly lower than VFIAX's 10.87% return.

VGCIX

• 1D: -0.21%
• 1M: 0.52%
• YTD: 0.76%
• 6M: 0.83%
• 1Y: 5.07%
• 3Y*: 6.05%
• 5Y*: 1.30%
• 10Y*: —

VFIAX

• 1D: -0.73%
• 1M: 4.17%
• YTD: 10.87%
• 6M: 10.78%
• 1Y: 27.99%
• 3Y*: 22.42%
• 5Y*: 13.87%
• 10Y*: 15.54%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VGCIX vs. VFIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VGCIX Vanguard Global Credit Bond Fund Investor Shares	0.76%	7.26%	3.82%	9.17%	-13.61%	-0.70%	10.70%	12.93%	0.95%
VFIAX Vanguard 500 Index Fund Admiral Shares	10.87%	17.83%	24.97%	26.24%	-18.16%	28.65%	18.32%	31.46%	-7.96%

Correlation

The correlation between VGCIX and VFIAX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (All Time) Calculated using the full available price history since Nov 16, 2018	0.13

Over the past year, VGCIX and VFIAX have become more correlated (0.39) than their long-term average of 0.13, meaning their price movements have been converging.

VGCIX vs. VFIAX - Sectors Allocation Comparison

Sectors	VGCIX	VFIAX
Energy	0.0%	3.5%
Real Estate	0.0%	1.9%
Financial Services	0.0%	11.6%
Basic Materials	-	1.8%
Communication Services	-	11.3%
Consumer Cyclical	-	10.2%
Consumer Defensive	-	4.9%
Healthcare	-	8.5%
Industrials	-	8.3%
Technology	-	35.7%
Utilities	-	2.4%

Return for Risk

VGCIX vs. VFIAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VGCIX

VGCIX Risk / Return Rank: 30
VGCIX Sharpe Ratio Rank: 32
VGCIX Sortino Ratio Rank: 33
VGCIX Omega Ratio Rank: 31
VGCIX Calmar Ratio Rank: 26
VGCIX Martin Ratio Rank: 26

VFIAX

VFIAX Risk / Return Rank: 66
VFIAX Sharpe Ratio Rank: 64
VFIAX Sortino Ratio Rank: 59
VFIAX Omega Ratio Rank: 59
VFIAX Calmar Ratio Rank: 67
VFIAX Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VGCIX vs. VFIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Credit Bond Fund Investor Shares (VGCIX) and Vanguard 500 Index Fund Admiral Shares (VFIAX). 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.

	VGCIX	VFIAX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.37	-0.76
Sortino ratio: Return per unit of downside risk	2.37	3.24	-0.87
Omega ratio: Gain probability vs. loss probability	1.29	1.43	-0.14
Calmar ratio: Return relative to maximum drawdown	1.87	3.16	-1.29
Martin ratio: Return relative to average drawdown	6.32	14.76	-8.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGCIX vs. VFIAX - Sharpe Ratio Comparison

The current VGCIX Sharpe Ratio is 1.61, which is lower than the VFIAX Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of VGCIX and VFIAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VGCIX	VFIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	2.37	-0.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.83	-0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.86	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.47	+0.31

Drawdowns

VGCIX vs. VFIAX - Drawdown Comparison

The maximum VGCIX drawdown since its inception was -18.69%, smaller than the maximum VFIAX drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for VGCIX and VFIAX.

Drawdown Indicators

	VGCIX	VFIAX	Difference
Max Drawdown Largest peak-to-trough decline	-18.69%	-55.20%	+36.51%
Max Drawdown (1Y) Largest decline over 1 year	-2.95%	-8.90%	+5.95%
Max Drawdown (3Y) Largest decline over 3 years	-4.13%	-18.75%	+14.62%
Max Drawdown (5Y) Largest decline over 5 years	-18.69%	-24.53%	+5.84%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.83%	—
Current Drawdown Current decline from peak	-0.98%	-0.73%	-0.25%
Average Drawdown Average peak-to-trough decline	-4.45%	-9.40%	+4.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	1.90%	-1.03%

Volatility

VGCIX vs. VFIAX - Volatility Comparison

The current volatility for Vanguard Global Credit Bond Fund Investor Shares (VGCIX) is 1.32%, while Vanguard 500 Index Fund Admiral Shares (VFIAX) has a volatility of 2.92%. This indicates that VGCIX experiences smaller price fluctuations and is considered to be less risky than VFIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGCIX	VFIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.32%	2.92%	-1.60%
Volatility (6M) Calculated over the trailing 6-month period	2.63%	8.99%	-6.36%
Volatility (1Y) Calculated over the trailing 1-year period	3.43%	11.88%	-8.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.14%	16.90%	-11.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.91%	18.07%	-13.16%

VGCIX vs. VFIAX - Expense Ratio Comparison

VGCIX has a 0.35% expense ratio, which is higher than VFIAX's 0.04% expense ratio.

Dividends

VGCIX vs. VFIAX - Dividend Comparison

VGCIX's dividend yield for the trailing twelve months is around 4.86%, more than VFIAX's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VFIAX Vanguard 500 Index Fund Admiral Shares	1.02%	1.12%	1.24%	1.45%	1.68%	1.24%	1.53%	1.87%	2.05%	1.78%	2.02%	2.10%
VGCIX Vanguard Global Credit Bond Fund Investor Shares	4.86%	4.82%	4.54%	4.38%	2.61%	3.05%	4.55%	6.77%	0.35%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VGCIX and VFIAX in my portfolio?

VGCIX and VFIAX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VGCIX or VFIAX?

VFIAX has higher volatility (2.92%) compared to VGCIX (1.32%). In terms of maximum drawdown, VGCIX dropped -18.69% vs VFIAX's -55.20%.

Which has better risk-adjusted returns?

VFIAX currently has the higher Sharpe Ratio (2.37 vs 1.61), 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.