VMBS vs. VFIJX
VMBS (Vanguard Mortgage-Backed Securities ETF) and VFIJX (Vanguard GNMA Fund Admiral Shares) are both funds - VMBS is a Mortgage Backed Securities fund tracking the Bloomberg U.S. MBS Float Adjusted Index, while VFIJX is a Government Bonds fund managed by Vanguard. Over the past 10 years, VMBS returned 1.21%/yr vs 1.27%/yr for VFIJX. Their correlation of 0.80 means they have usually moved in the same direction. VMBS charges 0.04%/yr vs 0.11%/yr for VFIJX.
Performance
VMBS vs. VFIJX - Performance Comparison
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Returns By Period
In the year-to-date period, VMBS achieves a -0.12% return, which is significantly lower than VFIJX's 0.18% return. Both investments have delivered pretty close results over the past 10 years, with VMBS having a 1.21% annualized return and VFIJX not far ahead at 1.27%.
VMBS
- 1D
- -0.41%
- 1M
- -1.18%
- 6M
- -0.45%
- YTD
- -0.12%
- 1Y
- 3.32%
- 3Y*
- 4.53%
- 5Y*
- 0.25%
- 10Y*
- 1.21%
- ALL TIME*
- 2.03%
VFIJX
- 1D
- 0.00%
- 1M
- -0.85%
- 6M
- -0.35%
- YTD
- 0.18%
- 1Y
- 3.29%
- 3Y*
- 4.15%
- 5Y*
- 0.39%
- 10Y*
- 1.27%
- ALL TIME*
- 3.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $62.70M | $62.14M | $62.59M |
VMBS vs. VFIJX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMBS Vanguard Mortgage-Backed Securities ETF | -0.12% | 8.36% | 1.70% | 5.34% | -11.90% | -1.28% | 3.76% | 6.19% | 0.91% | 2.47% |
VFIJX Vanguard GNMA Fund Admiral Shares | 0.18% | 7.84% | 1.17% | 5.28% | -10.72% | -1.15% | 3.84% | 5.94% | 0.99% | 1.98% |
Correlation
The correlation between VMBS and VFIJX is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.89 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.94 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.80 |
The correlation between VMBS and VFIJX shifts across timeframes, from 0.80 (all time) to 0.94 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VMBS vs. VFIJX — Risk / Return Rank
VMBS
VFIJX
VMBS vs. VFIJX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mortgage-Backed Securities ETF (VMBS) and Vanguard GNMA Fund Admiral Shares (VFIJX). 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.
| VMBS | VFIJX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.20 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | 1.63 | -0.02 |
| Martin ratioReturn relative to average drawdown | 4.60 | 4.38 | +0.22 |
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Drawdowns
VMBS vs. VFIJX - Drawdown Comparison
The maximum VMBS drawdown since its inception was -17.47%, which is greater than VFIJX's maximum drawdown of -16.06%. Use the drawdown chart below to compare losses from any high point for VMBS and VFIJX.
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Drawdown Indicators
| VMBS | VFIJX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.47% | -16.06% | -1.41% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | -2.71% | +0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -6.41% | -6.01% | -0.40% |
Max Drawdown (5Y)Largest decline over 5 years | -17.09% | -15.68% | -1.41% |
Max Drawdown (10Y)Largest decline over 10 years | -17.47% | -16.06% | -1.41% |
Current DrawdownCurrent decline from peak | -2.09% | -1.99% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -2.48% | -1.74% | -0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 1.01% | -0.07% |
Volatility
VMBS vs. VFIJX - Volatility Comparison
Vanguard Mortgage-Backed Securities ETF (VMBS) has a higher volatility of 1.17% compared to Vanguard GNMA Fund Admiral Shares (VFIJX) at 1.08%. This indicates that VMBS's price experiences larger fluctuations and is considered to be riskier than VFIJX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMBS | VFIJX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.08% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 3.42% | 3.05% | +0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.29% | 3.88% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.80% | 6.24% | +0.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.42% | 4.72% | +0.70% |
VMBS vs. VFIJX - Expense Ratio Comparison
VMBS has a 0.04% expense ratio, which is lower than VFIJX's 0.11% 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
VMBS vs. VFIJX - Dividend Comparison
VMBS's dividend yield for the trailing twelve months is around 4.24%, more than VFIJX's 3.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VFIJX Vanguard GNMA Fund Admiral Shares | 3.50% | 3.72% | 3.67% | 3.34% | 2.45% | 0.73% | 1.98% | 2.86% | 3.00% | 2.73% | 3.11% | 2.94% |
VMBS Vanguard Mortgage-Backed Securities ETF | 3.88% | 4.20% | 3.94% | 3.31% | 2.35% | 1.02% | 2.01% | 2.77% | 2.72% | 2.16% | 2.10% | 2.12% |
Frequently Asked Questions
VMBS and VFIJX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VMBS has higher volatility (1.17%) compared to VFIJX (1.08%). In terms of maximum drawdown, VMBS dropped -17.47% vs VFIJX's -16.06%.
VFIJX currently has the higher Sharpe Ratio (1.14 vs 1.01), 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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