VMBSX vs. VMBS
Compare and contrast key facts about Vanguard Mortgage-Backed Securities Index Fund Admiral Shares (VMBSX) and Vanguard Mortgage-Backed Securities ETF (VMBS).
VMBSX is managed by Vanguard. It was launched on Dec 3, 2009. VMBS is a passively managed fund by Vanguard that tracks the performance of the Barclays Capital U.S. MBS Index. It was launched on Nov 19, 2009.
Performance
VMBSX vs. VMBS - Performance Comparison
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VMBSX vs. VMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMBSX Vanguard Mortgage-Backed Securities Index Fund Admiral Shares | 0.20% | 8.43% | 1.76% | 4.99% | -11.56% | -1.35% | 3.74% | 11.47% | 0.87% | 2.32% |
VMBS Vanguard Mortgage-Backed Securities ETF | 0.41% | 8.36% | 1.70% | 5.34% | -11.90% | -1.28% | 3.76% | 6.19% | 0.91% | 2.47% |
Returns By Period
In the year-to-date period, VMBSX achieves a 0.20% return, which is significantly lower than VMBS's 0.41% return. Over the past 10 years, VMBSX has outperformed VMBS with an annualized return of 1.86%, while VMBS has yielded a comparatively lower 1.41% annualized return.
VMBSX
- 1D
- 0.48%
- 1M
- -1.81%
- YTD
- 0.20%
- 6M
- 1.79%
- 1Y
- 5.42%
- 3Y*
- 4.25%
- 5Y*
- 0.48%
- 10Y*
- 1.86%
VMBS
- 1D
- 0.21%
- 1M
- -1.57%
- YTD
- 0.41%
- 6M
- 2.06%
- 1Y
- 5.79%
- 3Y*
- 4.29%
- 5Y*
- 0.49%
- 10Y*
- 1.41%
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VMBSX vs. VMBS - Expense Ratio Comparison
VMBSX has a 0.07% expense ratio, which is higher than VMBS's 0.04% 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%.
Return for Risk
VMBSX vs. VMBS — Risk / Return Rank
VMBSX
VMBS
VMBSX vs. VMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mortgage-Backed Securities Index Fund Admiral Shares (VMBSX) and Vanguard Mortgage-Backed Securities ETF (VMBS). 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.
| VMBSX | VMBS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.31 | 1.16 | +0.14 |
Sortino ratioReturn per unit of downside risk | 1.87 | 1.67 | +0.21 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.21 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 2.39 | 1.95 | +0.44 |
Martin ratioReturn relative to average drawdown | 6.79 | 6.10 | +0.69 |
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
| VMBSX | VMBS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.31 | 1.16 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.07 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.26 | +0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.46 | +0.12 |
Correlation
The correlation between VMBSX and VMBS is 0.83, 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
VMBSX vs. VMBS - Dividend Comparison
VMBSX's dividend yield for the trailing twelve months is around 3.87%, less than VMBS's 4.23% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMBSX Vanguard Mortgage-Backed Securities Index Fund Admiral Shares | 3.87% | 4.18% | 4.24% | 3.28% | 2.31% | 0.99% | 2.00% | 7.48% | 2.72% | 2.16% | 1.98% | 2.01% |
VMBS Vanguard Mortgage-Backed Securities ETF | 4.23% | 4.20% | 3.94% | 3.31% | 2.35% | 1.02% | 2.01% | 2.77% | 2.72% | 2.16% | 2.10% | 2.12% |
Drawdowns
VMBSX vs. VMBS - Drawdown Comparison
The maximum VMBSX drawdown since its inception was -17.44%, roughly equal to the maximum VMBS drawdown of -17.47%. Use the drawdown chart below to compare losses from any high point for VMBSX and VMBS.
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Drawdown Indicators
| VMBSX | VMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.44% | -17.47% | +0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -3.00% | +0.41% |
Max Drawdown (5Y)Largest decline over 5 years | -17.12% | -17.12% | 0.00% |
Max Drawdown (10Y)Largest decline over 10 years | -17.44% | -17.47% | +0.03% |
Current DrawdownCurrent decline from peak | -1.81% | -1.57% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -2.49% | -2.51% | +0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 0.96% | -0.05% |
Volatility
VMBSX vs. VMBS - Volatility Comparison
The current volatility for Vanguard Mortgage-Backed Securities Index Fund Admiral Shares (VMBSX) is 1.68%, while Vanguard Mortgage-Backed Securities ETF (VMBS) has a volatility of 1.90%. This indicates that VMBSX experiences smaller price fluctuations and is considered to be less risky than VMBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMBSX | VMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.68% | 1.90% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 2.50% | 2.89% | -0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.33% | 5.00% | -0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.36% | 6.71% | -0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.83% | 5.37% | -0.54% |