VISTX vs. VBTLX
VISTX (Vanguard Institutional Short-Term Bond Fund) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both mutual funds - VISTX is a Short-Term Bond fund managed by Vanguard, while VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, VISTX returned 2.45%/yr vs 1.58%/yr for VBTLX. A 0.69 correlation means they provide meaningful diversification when combined. VISTX charges 0.02%/yr vs 0.04%/yr for VBTLX.
Performance
VISTX vs. VBTLX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VISTX achieves a 0.81% return, which is significantly higher than VBTLX's 0.42% return. Over the past 10 years, VISTX has outperformed VBTLX with an annualized return of 2.45%, while VBTLX has yielded a comparatively lower 1.58% annualized return.
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%
VBTLX
- 1D
- 0.00%
- 1M
- 0.55%
- YTD
- 0.42%
- 6M
- 0.35%
- 1Y
- 5.34%
- 3Y*
- 4.05%
- 5Y*
- 0.21%
- 10Y*
- 1.58%
VISTX vs. VBTLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 0.42% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Correlation
The correlation between VISTX and VBTLX 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 | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016 | 0.69 |
The correlation between VISTX and VBTLX has been stable across timeframes, ranging from 0.69 to 0.78 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VISTX vs. VBTLX — Risk / Return Rank
VISTX
VBTLX
VISTX vs. VBTLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Institutional Short-Term Bond Fund (VISTX) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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.
| VISTX | VBTLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.90 | ||
| Sortino ratioReturn per unit of downside risk | +3.36 | ||
| Omega ratioGain probability vs. loss probability | 1.75 | 1.24 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 5.00 | 1.86 | +3.14 |
| Martin ratioReturn relative to average drawdown | 20.81 | 5.58 | +15.23 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| VISTX | VBTLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.25 | 1.36 | +1.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.35 | 0.04 | +1.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.67 | 0.32 | +1.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.71 | 0.76 | +0.95 |
Drawdowns
VISTX vs. VBTLX - Drawdown Comparison
The maximum VISTX drawdown since its inception was -5.64%, smaller than the maximum VBTLX drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for VISTX and VBTLX.
Loading charts...
Drawdown Indicators
| VISTX | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.64% | -18.81% | +13.17% |
Max Drawdown (1Y)Largest decline over 1 year | -0.86% | -2.89% | +2.03% |
Max Drawdown (3Y)Largest decline over 3 years | -0.86% | -6.00% | +5.14% |
Max Drawdown (5Y)Largest decline over 5 years | -5.64% | -18.14% | +12.50% |
Max Drawdown (10Y)Largest decline over 10 years | -5.64% | -18.81% | +13.17% |
Current DrawdownCurrent decline from peak | -0.08% | -2.18% | +2.10% |
Average DrawdownAverage peak-to-trough decline | -0.69% | -2.67% | +1.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.96% | -0.75% |
Volatility
VISTX vs. VBTLX - Volatility Comparison
The current volatility for Vanguard Institutional Short-Term Bond Fund (VISTX) is 0.39%, while Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) has a volatility of 1.38%. This indicates that VISTX experiences smaller price fluctuations and is considered to be less risky than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VISTX | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.39% | 1.38% | -0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 0.87% | 2.80% | -1.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.33% | 3.97% | -2.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.87% | 6.01% | -4.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.47% | 4.98% | -3.51% |
VISTX vs. VBTLX - Expense Ratio Comparison
VISTX has a 0.02% expense ratio, which is lower than VBTLX's 0.04% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VISTX vs. VBTLX - Dividend Comparison
VISTX's dividend yield for the trailing twelve months is around 4.46%, more than VBTLX's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.98% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
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
VISTX and VBTLX 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.
VBTLX has higher volatility (1.38%) compared to VISTX (0.39%). In terms of maximum drawdown, VISTX dropped -5.64% vs VBTLX's -18.81%.
VISTX currently has the higher Sharpe Ratio (3.25 vs 1.36), 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.
Find the right allocation for VISTX and VBTLX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer