VICBX vs. CBFSX
VICBX (Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares) and CBFSX (JPMorgan Corporate Bond Fund) are both Corporate Bonds funds. Over the past 10 years, VICBX returned 3.11%/yr vs 2.80%/yr for CBFSX. Their correlation of 0.93 suggests significant overlap in exposure. VICBX charges 0.05%/yr vs 0.50%/yr for CBFSX.
Performance
VICBX vs. CBFSX - Performance Comparison
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Returns By Period
In the year-to-date period, VICBX achieves a 0.17% return, which is significantly higher than CBFSX's 0.05% return. Over the past 10 years, VICBX has outperformed CBFSX with an annualized return of 3.11%, while CBFSX has yielded a comparatively lower 2.80% annualized return.
VICBX
- 1D
- -0.25%
- 1M
- 0.45%
- YTD
- 0.17%
- 6M
- 0.35%
- 1Y
- 5.08%
- 3Y*
- 6.20%
- 5Y*
- 1.20%
- 10Y*
- 3.11%
CBFSX
- 1D
- -0.36%
- 1M
- 0.53%
- YTD
- 0.05%
- 6M
- 0.13%
- 1Y
- 4.58%
- 3Y*
- 5.19%
- 5Y*
- 0.42%
- 10Y*
- 2.80%
VICBX vs. CBFSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VICBX Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares | 0.17% | 9.37% | 3.67% | 8.87% | -14.06% | -1.50% | 9.57% | 15.96% | -1.72% | 5.50% |
CBFSX JPMorgan Corporate Bond Fund | 0.05% | 7.45% | 2.71% | 9.20% | -16.06% | -0.77% | 10.23% | 15.05% | -2.31% | 6.89% |
Correlation
The correlation between VICBX and CBFSX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2013 | 0.93 |
The correlation between VICBX and CBFSX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
VICBX vs. CBFSX — Risk / Return Rank
VICBX
CBFSX
VICBX vs. CBFSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares (VICBX) and JPMorgan Corporate Bond Fund (CBFSX). 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.
| VICBX | CBFSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.20 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 1.39 | +0.45 |
| Martin ratioReturn relative to average drawdown | 5.82 | 3.97 | +1.85 |
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Drawdowns
VICBX vs. CBFSX - Drawdown Comparison
The maximum VICBX drawdown since its inception was -20.55%, smaller than the maximum CBFSX drawdown of -22.42%. Use the drawdown chart below to compare losses from any high point for VICBX and CBFSX.
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Drawdown Indicators
| VICBX | CBFSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.55% | -22.42% | +1.87% |
Max Drawdown (1Y)Largest decline over 1 year | -2.95% | -3.49% | +0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -5.98% | -6.62% | +0.64% |
Max Drawdown (5Y)Largest decline over 5 years | -20.55% | -22.42% | +1.87% |
Max Drawdown (10Y)Largest decline over 10 years | -20.55% | -22.42% | +1.87% |
Current DrawdownCurrent decline from peak | -1.35% | -1.73% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -4.35% | +1.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 1.22% | -0.29% |
Volatility
VICBX vs. CBFSX - Volatility Comparison
Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares (VICBX) has a higher volatility of 1.17% compared to JPMorgan Corporate Bond Fund (CBFSX) at 1.09%. This indicates that VICBX's price experiences larger fluctuations and is considered to be riskier than CBFSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VICBX | CBFSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.09% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.98% | 3.17% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.89% | 4.22% | -0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.17% | 6.64% | -0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.35% | 6.01% | -0.66% |
VICBX vs. CBFSX - Expense Ratio Comparison
VICBX has a 0.05% expense ratio, which is lower than CBFSX's 0.50% expense ratio.
Dividends
VICBX vs. CBFSX - Dividend Comparison
VICBX's dividend yield for the trailing twelve months is around 4.80%, more than CBFSX's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBFSX JPMorgan Corporate Bond Fund | 4.54% | 4.54% | 4.99% | 4.18% | 4.06% | 7.96% | 3.74% | 3.14% | 4.55% | 6.78% | 3.11% | 3.11% |
VICBX Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares | 4.80% | 4.61% | 4.79% | 3.72% | 3.02% | 2.82% | 2.79% | 5.01% | 3.64% | 3.23% | 3.32% | 3.39% |
Frequently Asked Questions
With a correlation of 0.96, VICBX and CBFSX 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.
VICBX has higher volatility (1.17%) compared to CBFSX (1.09%). In terms of maximum drawdown, VICBX dropped -20.55% vs CBFSX's -22.42%.
VICBX currently has the higher Sharpe Ratio (1.39 vs 1.15), 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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