VMBIX vs. VBTLX
Compare and contrast key facts about Vanguard Mortgage-Backed Securities Index Fund Institutional Shares (VMBIX) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX).
VMBIX is managed by Vanguard. It was launched on Oct 31, 2013. VBTLX is managed by Vanguard. It was launched on Nov 12, 2001.
Performance
VMBIX vs. VBTLX - Performance Comparison
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VMBIX vs. VBTLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMBIX Vanguard Mortgage-Backed Securities Index Fund Institutional Shares | 0.25% | 8.44% | 1.78% | 4.97% | -11.56% | -1.30% | 3.77% | 6.19% | 0.88% | 2.38% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | -0.28% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Returns By Period
In the year-to-date period, VMBIX achieves a 0.25% return, which is significantly higher than VBTLX's -0.28% return. Over the past 10 years, VMBIX has underperformed VBTLX with an annualized return of 1.39%, while VBTLX has yielded a comparatively higher 1.62% annualized return.
VMBIX
- 1D
- 0.52%
- 1M
- -1.75%
- YTD
- 0.25%
- 6M
- 1.83%
- 1Y
- 5.47%
- 3Y*
- 4.28%
- 5Y*
- 0.50%
- 10Y*
- 1.39%
VBTLX
- 1D
- 0.21%
- 1M
- -1.63%
- YTD
- -0.28%
- 6M
- 0.40%
- 1Y
- 3.66%
- 3Y*
- 3.51%
- 5Y*
- 0.19%
- 10Y*
- 1.62%
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VMBIX vs. VBTLX - Expense Ratio Comparison
Both VMBIX and VBTLX 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%.
Return for Risk
VMBIX vs. VBTLX — Risk / Return Rank
VMBIX
VBTLX
VMBIX vs. VBTLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mortgage-Backed Securities Index Fund Institutional Shares (VMBIX) 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.
| VMBIX | VBTLX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.32 | 0.92 | +0.40 |
Sortino ratioReturn per unit of downside risk | 1.90 | 1.33 | +0.57 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.16 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 2.42 | 1.66 | +0.76 |
Martin ratioReturn relative to average drawdown | 6.87 | 4.70 | +2.17 |
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
| VMBIX | VBTLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 0.92 | +0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.03 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | 0.33 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.76 | -0.25 |
Correlation
The correlation between VMBIX and VBTLX is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VMBIX vs. VBTLX - Dividend Comparison
VMBIX's dividend yield for the trailing twelve months is around 3.89%, more than VBTLX's 3.61% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMBIX Vanguard Mortgage-Backed Securities Index Fund Institutional Shares | 3.89% | 4.20% | 4.27% | 3.29% | 2.33% | 1.01% | 2.02% | 2.76% | 2.74% | 2.18% | 2.13% | 2.04% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.61% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
Drawdowns
VMBIX vs. VBTLX - Drawdown Comparison
The maximum VMBIX drawdown since its inception was -17.44%, smaller than the maximum VBTLX drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for VMBIX and VBTLX.
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Drawdown Indicators
| VMBIX | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.44% | -18.81% | +1.37% |
Max Drawdown (1Y)Largest decline over 1 year | -2.58% | -2.73% | +0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -17.11% | -18.14% | +1.03% |
Max Drawdown (10Y)Largest decline over 10 years | -17.44% | -18.81% | +1.37% |
Current DrawdownCurrent decline from peak | -1.75% | -2.86% | +1.11% |
Average DrawdownAverage peak-to-trough decline | -2.52% | -2.67% | +0.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 0.97% | -0.06% |
Volatility
VMBIX vs. VBTLX - Volatility Comparison
Vanguard Mortgage-Backed Securities Index Fund Institutional Shares (VMBIX) has a higher volatility of 1.69% compared to Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) at 1.55%. This indicates that VMBIX's price experiences larger fluctuations and is considered to be riskier than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMBIX | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.69% | 1.55% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.47% | 2.59% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.29% | 4.36% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.33% | 5.98% | +0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.76% | 4.97% | -0.21% |