VLGIX vs. VBLLX
VLGIX (Vanguard Long-Term Treasury Index Fund Institutional Shares) and VBLLX (Vanguard Long-Term Bond Index Fund Institutional Shares) are both mutual funds - VLGIX is a Government Bonds fund managed by Vanguard, while VBLLX is a Total Bond Market fund managed by Vanguard. Over the past 10 years, VLGIX returned -1.74%/yr vs 0.08%/yr for VBLLX. Their 0.98 correlation means they have historically moved very closely together. Both charge a 0.05% expense ratio.
Performance
VLGIX vs. VBLLX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with VLGIX having a -3.45% return and VBLLX slightly higher at -3.40%. Over the past 10 years, VLGIX has underperformed VBLLX with an annualized return of -1.74%, while VBLLX has yielded a comparatively higher 0.08% annualized return.
VLGIX
- 1D
- -0.62%
- 1M
- -3.35%
- 6M
- -2.88%
- YTD
- -3.45%
- 1Y
- -1.65%
- 3Y*
- -0.50%
- 5Y*
- -7.01%
- 10Y*
- -1.74%
- ALL TIME*
- 2.32%
VBLLX
- 1D
- -0.50%
- 1M
- -3.76%
- 6M
- -3.24%
- YTD
- -3.40%
- 1Y
- -1.14%
- 3Y*
- 1.12%
- 5Y*
- -5.26%
- 10Y*
- 0.08%
- ALL TIME*
- 3.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VLGIX vs. VBLLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VLGIX Vanguard Long-Term Treasury Index Fund Institutional Shares | -3.45% | 5.46% | -6.11% | 3.67% | -29.45% | -5.06% | 17.72% | 14.31% | -1.59% | 8.64% |
VBLLX Vanguard Long-Term Bond Index Fund Institutional Shares | -3.40% | 6.60% | -4.12% | 7.13% | -27.20% | -3.08% | 16.27% | 19.15% | -4.71% | 10.89% |
Correlation
The correlation between VLGIX and VBLLX is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.97 |
Correlation (3Y) Balances recent behavior with more history. | 0.98 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.98 |
The correlation between VLGIX and VBLLX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
VLGIX vs. VBLLX — Risk / Return Rank
VLGIX
VBLLX
VLGIX vs. VBLLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Treasury Index Fund Institutional Shares (VLGIX) and Vanguard Long-Term Bond Index Fund Institutional Shares (VBLLX). 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.
| VLGIX | VBLLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.00 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | -0.02 | -0.04 |
| Martin ratioReturn relative to average drawdown | -0.11 | -0.04 | -0.07 |
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Drawdowns
VLGIX vs. VBLLX - Drawdown Comparison
The maximum VLGIX drawdown since its inception was -46.23%, which is greater than VBLLX's maximum drawdown of -38.42%. Use the drawdown chart below to compare losses from any high point for VLGIX and VBLLX.
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Drawdown Indicators
| VLGIX | VBLLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.23% | -38.42% | -7.81% |
Max Drawdown (1Y)Largest decline over 1 year | -7.02% | -6.35% | -0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -13.35% | -11.55% | -1.80% |
Max Drawdown (5Y)Largest decline over 5 years | -41.00% | -36.29% | -4.71% |
Max Drawdown (10Y)Largest decline over 10 years | -46.23% | -38.42% | -7.81% |
Current DrawdownCurrent decline from peak | -38.47% | -27.42% | -11.05% |
Average DrawdownAverage peak-to-trough decline | -15.24% | -9.33% | -5.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 2.71% | +0.48% |
Volatility
VLGIX vs. VBLLX - Volatility Comparison
Vanguard Long-Term Treasury Index Fund Institutional Shares (VLGIX) has a higher volatility of 2.22% compared to Vanguard Long-Term Bond Index Fund Institutional Shares (VBLLX) at 2.07%. This indicates that VLGIX's price experiences larger fluctuations and is considered to be riskier than VBLLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VLGIX | VBLLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.22% | 2.07% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 6.36% | 6.06% | +0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.52% | 7.89% | +0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.44% | 12.82% | +1.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.65% | 11.55% | +2.10% |
VLGIX vs. VBLLX - Expense Ratio Comparison
Both VLGIX and VBLLX have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VLGIX vs. VBLLX - Dividend Comparison
VLGIX's dividend yield for the trailing twelve months is around 4.37%, less than VBLLX's 4.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBLLX Vanguard Long-Term Bond Index Fund Institutional Shares | 4.57% | 4.66% | 4.64% | 3.75% | 4.16% | 2.89% | 5.84% | 3.62% | 3.82% | 3.69% | 4.19% | 4.98% |
VLGIX Vanguard Long-Term Treasury Index Fund Institutional Shares | 4.37% | 4.43% | 4.67% | 3.31% | 2.83% | 1.78% | 2.15% | 2.46% | 2.73% | 2.57% | 2.70% | 2.82% |
Frequently Asked Questions
With a correlation of 0.97, VLGIX and VBLLX 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.
VLGIX has higher volatility (2.22%) compared to VBLLX (2.07%). In terms of maximum drawdown, VLGIX dropped -46.23% vs VBLLX's -38.42%.
VBLLX currently has the higher Sharpe Ratio (-0.01 vs -0.04), 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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