VLMIX vs. VITAX

Last updated Jun 24, 2026

VLMIX (Vanguard Long-Term Investment-Grade Fund Investor Shares) and VITAX (Vanguard Information Technology Index Fund Admiral Shares) are both mutual funds - VLMIX is a Long-Term Bond fund managed by Vanguard, while VITAX is a Technology Equities fund tracking the MSCI US Investable Market Information Technology 25/50 Index. Over the past 5 years, VLMIX returned 6.09%/yr vs 20.58%/yr for VITAX. A 0.74 correlation means they provide meaningful diversification when combined. VLMIX charges 0.20%/yr vs 0.09%/yr for VITAX.

Performance

VLMIX vs. VITAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Long-Term Investment-Grade Fund Investor Shares (VLMIX) and Vanguard Information Technology Index Fund Admiral Shares (VITAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VLMIX achieves a -0.73% return, which is significantly lower than VITAX's 28.08% return.

VLMIX

• 1D: -0.50%
• 1M: 0.77%
• YTD: -0.73%
• 6M: -2.27%
• 1Y: -1.96%
• 3Y*: 6.92%
• 5Y*: 6.09%
• 10Y*: —

VITAX

• 1D: 0.31%
• 1M: 4.14%
• YTD: 28.08%
• 6M: 26.17%
• 1Y: 52.48%
• 3Y*: 31.76%
• 5Y*: 20.58%
• 10Y*: 25.96%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VLMIX vs. VITAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VLMIX Vanguard Long-Term Investment-Grade Fund Investor Shares	-0.73%	1.01%	7.83%	22.39%	-9.40%	20.12%	20.25%	35.69%	4.91%	7.31%
VITAX Vanguard Information Technology Index Fund Admiral Shares	28.08%	21.78%	29.26%	52.69%	-29.67%	30.36%	45.93%	48.72%	2.51%	11.75%

Correlation

The correlation between VLMIX and VITAX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Aug 23, 2017	0.74

Over the past year, the correlation between VLMIX and VITAX has dropped to 0.45 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

Return for Risk

VLMIX vs. VITAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VLMIX

VLMIX Risk / Return Rank: 3
VLMIX Sharpe Ratio Rank: 3
VLMIX Sortino Ratio Rank: 3
VLMIX Omega Ratio Rank: 3
VLMIX Calmar Ratio Rank: 3
VLMIX Martin Ratio Rank: 3

VITAX

VITAX Risk / Return Rank: 66
VITAX Sharpe Ratio Rank: 80
VITAX Sortino Ratio Rank: 60
VITAX Omega Ratio Rank: 62
VITAX Calmar Ratio Rank: 77
VITAX Martin Ratio Rank: 53

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VLMIX vs. VITAX - 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 Vanguard Information Technology Index Fund Admiral Shares (VITAX). 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	VITAX	Difference
Sharpe ratio: Return per unit of total volatility	-0.05	2.41	-2.46
Sortino ratio: Return per unit of downside risk	0.03	2.98	-2.95
Omega ratio: Gain probability vs. loss probability	1.00	1.40	-0.39
Calmar ratio: Return relative to maximum drawdown	-0.05	3.31	-3.37
Martin ratio: Return relative to average drawdown	-0.15	10.14	-10.29

VLMIX vs. VITAX - Sharpe Ratio Comparison

The current VLMIX Sharpe Ratio is -0.05, which is lower than the VITAX Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of VLMIX and VITAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VLMIX vs. VITAX - Drawdown Comparison

The maximum VLMIX drawdown since its inception was -35.47%, smaller than the maximum VITAX drawdown of -54.81%. Use the drawdown chart below to compare losses from any high point for VLMIX and VITAX.

Drawdown Indicators

	VLMIX	VITAX	Difference
Max Drawdown Largest peak-to-trough decline	-35.47%	-54.81%	+19.34%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-16.38%	+4.61%
Max Drawdown (3Y) Largest decline over 3 years	-17.59%	-27.38%	+9.79%
Max Drawdown (5Y) Largest decline over 5 years	-21.85%	-35.10%	+13.25%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.10%	—
Current Drawdown Current decline from peak	-7.92%	-4.17%	-3.75%
Average Drawdown Average peak-to-trough decline	-4.82%	-8.01%	+3.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.25%	5.34%	-1.09%

Volatility

VLMIX vs. VITAX - Volatility Comparison

The current volatility for Vanguard Long-Term Investment-Grade Fund Investor Shares (VLMIX) is 3.59%, while Vanguard Information Technology Index Fund Admiral Shares (VITAX) has a volatility of 10.67%. This indicates that VLMIX experiences smaller price fluctuations and is considered to be less risky than VITAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLMIX	VITAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	10.67%	-7.08%
Volatility (6M) Calculated over the trailing 6-month period	10.22%	18.29%	-8.07%
Volatility (1Y) Calculated over the trailing 1-year period	13.61%	22.54%	-8.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.89%	25.71%	-8.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.67%	25.02%	-6.35%

VLMIX vs. VITAX - Expense Ratio Comparison

VLMIX has a 0.20% expense ratio, which is higher than VITAX's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VLMIX vs. VITAX - Dividend Comparison

VLMIX's dividend yield for the trailing twelve months is around 2.15%, more than VITAX's 0.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VITAX Vanguard Information Technology Index Fund Admiral Shares	0.32%	0.40%	0.60%	0.65%	0.91%	0.63%	0.82%	1.11%	1.29%	0.99%	1.31%	1.28%
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

Can I hold both VLMIX and VITAX in my portfolio?

VLMIX and VITAX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VLMIX or VITAX?

VITAX has higher volatility (10.67%) compared to VLMIX (3.59%). In terms of maximum drawdown, VLMIX dropped -35.47% vs VITAX's -54.81%.

Which has better risk-adjusted returns?

VITAX currently has the higher Sharpe Ratio (2.41 vs -0.05), 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.