VLMIX vs. RPLCX
VLMIX (Vanguard Long-Term Investment-Grade Fund Investor Shares) and RPLCX (T. Rowe Price Institutional Long Duration Credit Fund) are both Long-Term Bond funds. Over the past 5 years, VLMIX returned 5.26%/yr vs -4.14%/yr for RPLCX. Their 0.12 correlation means their historical movements had little consistent relationship. VLMIX charges 0.20%/yr vs 0.45%/yr for RPLCX.
Performance
VLMIX vs. RPLCX - Performance Comparison
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Returns By Period
In the year-to-date period, VLMIX achieves a -0.50% return, which is significantly higher than RPLCX's -3.01% return.
VLMIX
- 1D
- -1.27%
- 1M
- -2.57%
- 6M
- -1.76%
- YTD
- -0.50%
- 1Y
- -1.54%
- 3Y*
- 5.56%
- 5Y*
- 5.26%
- 10Y*
- —
- ALL TIME*
- 11.53%
RPLCX
- 1D
- 0.00%
- 1M
- -3.49%
- 6M
- -3.19%
- YTD
- -3.01%
- 1Y
- 0.08%
- 3Y*
- 2.38%
- 5Y*
- -4.14%
- 10Y*
- 1.39%
- ALL TIME*
- 3.23%
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 |
VLMIX vs. RPLCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VLMIX Vanguard Long-Term Investment-Grade Fund Investor Shares | -0.50% | 1.01% | 7.83% | 22.39% | -9.40% | 20.12% | 20.25% | 35.69% | 4.91% | 7.31% |
RPLCX T. Rowe Price Institutional Long Duration Credit Fund | -3.01% | 7.65% | -1.84% | 9.05% | -27.00% | -0.19% | 16.73% | 23.72% | -6.27% | 3.50% |
Correlation
The correlation between VLMIX and RPLCX is 0.36, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.36 |
Correlation (3Y) Balances recent behavior with more history. | 0.31 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.26 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2017 | 0.12 |
Over the past year, VLMIX and RPLCX have become more correlated (0.36) than their long-term average of 0.12, meaning their price movements have been converging.
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Return for Risk
VLMIX vs. RPLCX — Risk / Return Rank
VLMIX
RPLCX
VLMIX vs. RPLCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Investment-Grade Fund Investor Shares (VLMIX) and T. Rowe Price Institutional Long Duration Credit Fund (RPLCX). 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.
| VLMIX | RPLCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.03 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | 0.22 | -0.48 |
| Martin ratioReturn relative to average drawdown | -0.69 | 0.53 | -1.22 |
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Drawdowns
VLMIX vs. RPLCX - Drawdown Comparison
The maximum VLMIX drawdown since its inception was -35.47%, roughly equal to the maximum RPLCX drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for VLMIX and RPLCX.
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Drawdown Indicators
| VLMIX | RPLCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.47% | -35.21% | -0.26% |
Max Drawdown (1Y)Largest decline over 1 year | -11.77% | -5.21% | -6.56% |
Max Drawdown (3Y)Largest decline over 3 years | -17.59% | -10.43% | -7.16% |
Max Drawdown (5Y)Largest decline over 5 years | -21.85% | -35.21% | +13.36% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.21% | — |
Current DrawdownCurrent decline from peak | -7.70% | -19.99% | +12.29% |
Average DrawdownAverage peak-to-trough decline | -4.84% | -10.22% | +5.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.30% | 2.18% | +2.12% |
Volatility
VLMIX vs. RPLCX - Volatility Comparison
Vanguard Long-Term Investment-Grade Fund Investor Shares (VLMIX) has a higher volatility of 3.86% compared to T. Rowe Price Institutional Long Duration Credit Fund (RPLCX) at 1.96%. This indicates that VLMIX's price experiences larger fluctuations and is considered to be riskier than RPLCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VLMIX | RPLCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.86% | 1.96% | +1.90% |
Volatility (6M)Calculated over the trailing 6-month period | 10.31% | 5.80% | +4.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.71% | 7.73% | +5.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.91% | 11.61% | +5.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.61% | 10.58% | +8.03% |
VLMIX vs. RPLCX - Expense Ratio Comparison
VLMIX has a 0.20% expense ratio, which is lower than RPLCX's 0.45% expense ratio.
Dividends
VLMIX vs. RPLCX - Dividend Comparison
VLMIX's dividend yield for the trailing twelve months is around 2.15%, less than RPLCX's 4.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RPLCX T. Rowe Price Institutional Long Duration Credit Fund | 4.65% | 5.32% | 5.17% | 4.15% | 3.54% | 6.09% | 7.16% | 13.58% | 4.33% | 4.07% | 3.79% | 4.70% |
VLMIX Vanguard Long-Term Investment-Grade Fund Investor Shares | 2.15% | 2.14% | 1.21% | 0.22% | 7.46% | 8.18% | 8.10% | 1.63% | 5.11% | 1.61% | 0.00% | 0.00% |
Frequently Asked Questions
VLMIX and RPLCX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VLMIX has higher volatility (3.86%) compared to RPLCX (1.96%). In terms of maximum drawdown, VLMIX dropped -35.47% vs RPLCX's -35.21%.
RPLCX currently has the higher Sharpe Ratio (0.15 vs -0.22), 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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