VIITX vs. VISTX
VIITX (Vanguard Institutional Intermediate-Term Bond Fund) and VISTX (Vanguard Institutional Short-Term Bond Fund) are both Short-Term Bond funds from Vanguard. Over the past 10 years, VIITX returned 2.13%/yr vs 2.45%/yr for VISTX. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.02% expense ratio.
Performance
VIITX vs. VISTX - Performance Comparison
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Returns By Period
In the year-to-date period, VIITX achieves a 0.56% return, which is significantly lower than VISTX's 0.81% return. Over the past 10 years, VIITX has underperformed VISTX with an annualized return of 2.13%, while VISTX has yielded a comparatively higher 2.45% annualized return.
VIITX
- 1D
- 0.05%
- 1M
- 0.29%
- YTD
- 0.56%
- 6M
- 0.76%
- 1Y
- 5.12%
- 3Y*
- 4.93%
- 5Y*
- 1.50%
- 10Y*
- 2.13%
VISTX
- 1D
- 0.00%
- 1M
- 0.22%
- YTD
- 0.81%
- 6M
- 1.12%
- 1Y
- 4.28%
- 3Y*
- 5.14%
- 5Y*
- 2.50%
- 10Y*
- 2.45%
VIITX vs. VISTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIITX Vanguard Institutional Intermediate-Term Bond Fund | 0.56% | 7.23% | 3.67% | 5.31% | -7.99% | -1.02% | 6.17% | 6.44% | 0.87% | 2.00% |
VISTX Vanguard Institutional Short-Term Bond Fund | 0.81% | 5.68% | 5.56% | 4.98% | -3.73% | -0.04% | 3.92% | 4.20% | 1.83% | 1.42% |
Correlation
The correlation between VIITX and VISTX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016 | 0.78 |
The correlation between VIITX and VISTX has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.
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Return for Risk
VIITX vs. VISTX — Risk / Return Rank
VIITX
VISTX
VIITX vs. VISTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Institutional Intermediate-Term Bond Fund (VIITX) and Vanguard Institutional Short-Term Bond Fund (VISTX). 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.
| VIITX | VISTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -2.29 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.75 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 5.00 | -2.28 |
| Martin ratioReturn relative to average drawdown | 8.89 | 20.81 | -11.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VIITX | VISTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | 3.25 | -1.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 1.35 | -0.96 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | 1.67 | -0.97 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 1.71 | -0.95 |
Drawdowns
VIITX vs. VISTX - Drawdown Comparison
The maximum VIITX drawdown since its inception was -11.86%, which is greater than VISTX's maximum drawdown of -5.64%. Use the drawdown chart below to compare losses from any high point for VIITX and VISTX.
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Drawdown Indicators
| VIITX | VISTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.86% | -5.64% | -6.22% |
Max Drawdown (1Y)Largest decline over 1 year | -1.89% | -0.86% | -1.03% |
Max Drawdown (3Y)Largest decline over 3 years | -3.32% | -0.86% | -2.46% |
Max Drawdown (5Y)Largest decline over 5 years | -11.86% | -5.64% | -6.22% |
Max Drawdown (10Y)Largest decline over 10 years | -11.86% | -5.64% | -6.22% |
Current DrawdownCurrent decline from peak | -0.87% | -0.08% | -0.79% |
Average DrawdownAverage peak-to-trough decline | -2.13% | -0.69% | -1.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.21% | +0.37% |
Volatility
VIITX vs. VISTX - Volatility Comparison
Vanguard Institutional Intermediate-Term Bond Fund (VIITX) has a higher volatility of 0.87% compared to Vanguard Institutional Short-Term Bond Fund (VISTX) at 0.39%. This indicates that VIITX's price experiences larger fluctuations and is considered to be riskier than VISTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIITX | VISTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 0.39% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 1.84% | 0.87% | +0.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.49% | 1.33% | +1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.84% | 1.87% | +1.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.06% | 1.47% | +1.59% |
VIITX vs. VISTX - Expense Ratio Comparison
Both VIITX and VISTX have an expense ratio of 0.02%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VIITX vs. VISTX - Dividend Comparison
VIITX's dividend yield for the trailing twelve months is around 4.57%, more than VISTX's 4.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIITX Vanguard Institutional Intermediate-Term Bond Fund | 4.57% | 4.51% | 4.71% | 3.61% | 2.14% | 2.20% | 2.87% | 2.69% | 2.62% | 2.04% | 2.95% | 0.57% |
VISTX Vanguard Institutional Short-Term Bond Fund | 4.46% | 4.53% | 5.03% | 3.91% | 1.76% | 1.85% | 2.33% | 2.72% | 2.32% | 1.78% | 1.51% | 0.00% |
Frequently Asked Questions
VIITX and VISTX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIITX has higher volatility (0.87%) compared to VISTX (0.39%). In terms of maximum drawdown, VIITX dropped -11.86% vs VISTX's -5.64%.
VISTX currently has the higher Sharpe Ratio (3.25 vs 2.07), 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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