VGSBX vs. UTBPX
VGSBX (VY BrandywineGLOBAL - Bond Portfolio) and UTBPX (UBS Multi Income Bond Fund) are both Intermediate Core-Plus Bond funds. Over the past 10 years, VGSBX returned 2.83%/yr vs 2.03%/yr for UTBPX. A 0.79 correlation means they provide meaningful diversification when combined. VGSBX charges 0.55%/yr vs 1.72%/yr for UTBPX.
Performance
VGSBX vs. UTBPX - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with VGSBX at 1.38% and UTBPX at 1.38%. Over the past 10 years, VGSBX has outperformed UTBPX with an annualized return of 2.83%, while UTBPX has yielded a comparatively lower 2.03% annualized return.
VGSBX
- 1D
- 0.32%
- 1M
- 0.63%
- YTD
- 1.38%
- 6M
- 1.27%
- 1Y
- 4.64%
- 3Y*
- 3.46%
- 5Y*
- 0.15%
- 10Y*
- 2.83%
UTBPX
- 1D
- 0.45%
- 1M
- 0.60%
- YTD
- 1.38%
- 6M
- 1.46%
- 1Y
- 5.65%
- 3Y*
- 4.56%
- 5Y*
- 0.69%
- 10Y*
- 2.03%
VGSBX vs. UTBPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGSBX VY BrandywineGLOBAL - Bond Portfolio | 1.38% | 6.12% | 0.68% | 5.65% | -11.86% | 1.15% | 17.48% | 10.01% | -1.55% | 2.93% |
UTBPX UBS Multi Income Bond Fund | 1.38% | 6.60% | 1.67% | 6.67% | -11.74% | -1.49% | 6.51% | 10.62% | -2.08% | 4.81% |
Correlation
The correlation between VGSBX and UTBPX is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since May 23, 2016 | 0.79 |
The correlation between VGSBX and UTBPX shifts across timeframes, from 0.73 (1 year) to 0.84 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VGSBX vs. UTBPX — Risk / Return Rank
VGSBX
UTBPX
VGSBX vs. UTBPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VY BrandywineGLOBAL - Bond Portfolio (VGSBX) and UBS Multi Income Bond Fund (UTBPX). 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.
| VGSBX | UTBPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.27 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 1.93 | +0.93 |
| Martin ratioReturn relative to average drawdown | 9.09 | 7.18 | +1.91 |
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Drawdowns
VGSBX vs. UTBPX - Drawdown Comparison
The maximum VGSBX drawdown since its inception was -18.20%, which is greater than UTBPX's maximum drawdown of -16.84%. Use the drawdown chart below to compare losses from any high point for VGSBX and UTBPX.
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Drawdown Indicators
| VGSBX | UTBPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.20% | -16.84% | -1.36% |
Max Drawdown (1Y)Largest decline over 1 year | -1.79% | -2.98% | +1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -10.28% | -5.33% | -4.95% |
Max Drawdown (5Y)Largest decline over 5 years | -18.20% | -16.84% | -1.36% |
Max Drawdown (10Y)Largest decline over 10 years | -18.20% | -16.84% | -1.36% |
Current DrawdownCurrent decline from peak | 0.00% | -0.37% | +0.37% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -4.01% | +0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 0.80% | -0.25% |
Volatility
VGSBX vs. UTBPX - Volatility Comparison
The current volatility for VY BrandywineGLOBAL - Bond Portfolio (VGSBX) is 0.71%, while UBS Multi Income Bond Fund (UTBPX) has a volatility of 1.25%. This indicates that VGSBX experiences smaller price fluctuations and is considered to be less risky than UTBPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGSBX | UTBPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 1.25% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 2.73% | 3.17% | -0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.60% | 3.98% | +0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.94% | 4.89% | +3.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.24% | 4.37% | +1.87% |
VGSBX vs. UTBPX - Expense Ratio Comparison
VGSBX has a 0.55% expense ratio, which is lower than UTBPX's 1.72% expense ratio.
Dividends
VGSBX vs. UTBPX - Dividend Comparison
VGSBX's dividend yield for the trailing twelve months is around 3.88%, less than UTBPX's 4.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
UTBPX UBS Multi Income Bond Fund | 4.23% | 4.18% | 4.53% | 3.54% | 2.84% | 1.89% | 2.11% | 2.80% | 3.05% | 2.46% | 1.68% |
VGSBX VY BrandywineGLOBAL - Bond Portfolio | 3.88% | 3.93% | 4.56% | 2.18% | 6.85% | 8.48% | 2.48% | 1.89% | 2.29% | 2.31% | 2.34% |
Frequently Asked Questions
VGSBX and UTBPX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UTBPX has higher volatility (1.25%) compared to VGSBX (0.71%). In terms of maximum drawdown, VGSBX dropped -18.20% vs UTBPX's -16.84%.
UTBPX currently has the higher Sharpe Ratio (1.45 vs 1.12), 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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