VGIVX vs. VTIAX

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Emerging Markets Government Bond Index Fund Institutional Shares (VGIVX) and Vanguard Total International Stock Index Fund Admiral Shares (VTIAX).

VGIVX is managed by Vanguard. It was launched on Feb 11, 2015. VTIAX is managed by Vanguard. It was launched on Nov 29, 2010.

Performance

VGIVX vs. VTIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Emerging Markets Government Bond Index Fund Institutional Shares (VGIVX) and Vanguard Total International Stock Index Fund Admiral Shares (VTIAX). The values are adjusted to include any dividend payments, if applicable.

VGIVX vs. VTIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VGIVX Vanguard Emerging Markets Government Bond Index Fund Institutional Shares	-2.20%	13.05%	6.31%	10.48%	-16.72%	-2.41%	5.83%	14.03%	-2.72%	8.47%
VTIAX Vanguard Total International Stock Index Fund Admiral Shares	-1.02%	32.18%	5.34%	15.28%	-16.02%	8.59%	11.27%	21.52%	-14.46%	27.54%

Returns By Period

In the year-to-date period, VGIVX achieves a -2.20% return, which is significantly lower than VTIAX's -1.02% return. Over the past 10 years, VGIVX has underperformed VTIAX with an annualized return of 3.50%, while VTIAX has yielded a comparatively higher 8.51% annualized return.

VGIVX

• 1D: 0.04%
• 1M: -3.76%
• YTD: -2.20%
• 6M: 0.55%
• 1Y: 8.13%
• 3Y*: 8.28%
• 5Y*: 2.22%
• 10Y*: 3.50%

VTIAX

• 1D: -0.17%
• 1M: -11.11%
• YTD: -1.02%
• 6M: 3.45%
• 1Y: 24.00%
• 3Y*: 14.20%
• 5Y*: 6.87%
• 10Y*: 8.51%

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

VGIVX vs. VTIAX - Expense Ratio Comparison

VGIVX has a 0.18% expense ratio, which is higher than VTIAX's 0.11% 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%.

VGIVX

Vanguard Emerging Markets Government Bond Index Fund Institutional Shares

VTIAX

Vanguard Total International Stock Index Fund Admiral Shares

Return for Risk

VGIVX vs. VTIAX — Risk / Return Rank

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

VGIVX

VGIVX Risk / Return Rank: 88
VGIVX Sharpe Ratio Rank: 90
VGIVX Sortino Ratio Rank: 91
VGIVX Omega Ratio Rank: 88
VGIVX Calmar Ratio Rank: 85
VGIVX Martin Ratio Rank: 85

VTIAX

VTIAX Risk / Return Rank: 80
VTIAX Sharpe Ratio Rank: 81
VTIAX Sortino Ratio Rank: 80
VTIAX Omega Ratio Rank: 78
VTIAX Calmar Ratio Rank: 81
VTIAX Martin Ratio Rank: 78

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.

VGIVX vs. VTIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Government Bond Index Fund Institutional Shares (VGIVX) and Vanguard Total International Stock Index Fund Admiral Shares (VTIAX). 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.

	VGIVX	VTIAX	Difference
Sharpe ratio Return per unit of total volatility	1.86	1.50	+0.37
Sortino ratio Return per unit of downside risk	2.65	1.99	+0.66
Omega ratio Gain probability vs. loss probability	1.38	1.30	+0.08
Calmar ratio Return relative to maximum drawdown	2.13	1.92	+0.21
Martin ratio Return relative to average drawdown	8.84	7.64	+1.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGIVX vs. VTIAX - Sharpe Ratio Comparison

The current VGIVX Sharpe Ratio is 1.86, which is comparable to the VTIAX Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of VGIVX and VTIAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VGIVX	VTIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	1.50	+0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.47	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.54	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.38	+0.26

Correlation

The correlation between VGIVX and VTIAX is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

VGIVX vs. VTIAX - Dividend Comparison

VGIVX's dividend yield for the trailing twelve months is around 5.51%, more than VTIAX's 3.03% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VGIVX Vanguard Emerging Markets Government Bond Index Fund Institutional Shares	5.51%	5.95%	6.58%	5.53%	5.32%	3.53%	4.21%	4.62%	4.62%	4.67%	4.76%	4.55%
VTIAX Vanguard Total International Stock Index Fund Admiral Shares	3.03%	3.15%	3.33%	3.22%	3.04%	3.05%	2.10%	3.04%	3.16%	2.73%	2.93%	2.84%

Drawdowns

VGIVX vs. VTIAX - Drawdown Comparison

The maximum VGIVX drawdown since its inception was -26.79%, smaller than the maximum VTIAX drawdown of -35.83%. Use the drawdown chart below to compare losses from any high point for VGIVX and VTIAX.

Drawdown Indicators

	VGIVX	VTIAX	Difference
Max Drawdown Largest peak-to-trough decline	-26.79%	-35.83%	+9.04%
Max Drawdown (1Y) Largest decline over 1 year	-3.93%	-11.28%	+7.35%
Max Drawdown (5Y) Largest decline over 5 years	-26.79%	-29.56%	+2.77%
Max Drawdown (10Y) Largest decline over 10 years	-26.79%	-35.83%	+9.04%
Current Drawdown Current decline from peak	-3.90%	-11.28%	+7.38%
Average Drawdown Average peak-to-trough decline	-4.75%	-8.15%	+3.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	2.84%	-1.89%

Volatility

VGIVX vs. VTIAX - Volatility Comparison

The current volatility for Vanguard Emerging Markets Government Bond Index Fund Institutional Shares (VGIVX) is 1.87%, while Vanguard Total International Stock Index Fund Admiral Shares (VTIAX) has a volatility of 6.80%. This indicates that VGIVX experiences smaller price fluctuations and is considered to be less risky than VTIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGIVX	VTIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.87%	6.80%	-4.93%
Volatility (6M) Calculated over the trailing 6-month period	2.70%	10.50%	-7.80%
Volatility (1Y) Calculated over the trailing 1-year period	4.48%	15.53%	-11.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.25%	14.80%	-8.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.33%	15.83%	-9.50%