VMCTX vs. VBTLX
VMCTX (Vanguard Mega Cap Index Fund Institutional Shares) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both mutual funds - VMCTX is a Large Cap Blend Equities fund managed by Vanguard, while VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, VMCTX returned 16.46%/yr vs 1.58%/yr for VBTLX. At a correlation of -0.19, they often move in opposite directions. VMCTX charges 0.06%/yr vs 0.04%/yr for VBTLX.
Performance
VMCTX vs. VBTLX - Performance Comparison
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Returns By Period
In the year-to-date period, VMCTX achieves a 11.68% return, which is significantly higher than VBTLX's 0.42% return. Over the past 10 years, VMCTX has outperformed VBTLX with an annualized return of 16.46%, while VBTLX has yielded a comparatively lower 1.58% annualized return.
VMCTX
- 1D
- 0.04%
- 1M
- 6.43%
- YTD
- 11.68%
- 6M
- 11.63%
- 1Y
- 30.69%
- 3Y*
- 24.20%
- 5Y*
- 15.10%
- 10Y*
- 16.46%
VBTLX
- 1D
- 0.00%
- 1M
- 0.55%
- YTD
- 0.42%
- 6M
- 0.35%
- 1Y
- 5.34%
- 3Y*
- 4.05%
- 5Y*
- 0.21%
- 10Y*
- 1.58%
VMCTX vs. VBTLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMCTX Vanguard Mega Cap Index Fund Institutional Shares | 11.68% | 19.35% | 27.18% | 29.67% | -19.91% | 27.57% | 21.47% | 31.42% | -3.47% | 22.57% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 0.42% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Correlation
The correlation between VMCTX and VBTLX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 2007 | -0.19 |
The correlation between VMCTX and VBTLX shifts across timeframes, from -0.19 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VMCTX vs. VBTLX — Risk / Return Rank
VMCTX
VBTLX
VMCTX vs. VBTLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap Index Fund Institutional Shares (VMCTX) 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.
| VMCTX | VBTLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.20 | ||
| Sortino ratioReturn per unit of downside risk | +1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.24 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.19 | 1.86 | +1.34 |
| Martin ratioReturn relative to average drawdown | 14.39 | 5.58 | +8.81 |
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
| VMCTX | VBTLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.56 | 1.36 | +1.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | 0.04 | +0.84 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.90 | 0.32 | +0.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.76 | -0.17 |
Drawdowns
VMCTX vs. VBTLX - Drawdown Comparison
The maximum VMCTX drawdown since its inception was -52.00%, which is greater than VBTLX's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for VMCTX and VBTLX.
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Drawdown Indicators
| VMCTX | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.00% | -18.81% | -33.19% |
Max Drawdown (1Y)Largest decline over 1 year | -9.87% | -2.89% | -6.98% |
Max Drawdown (3Y)Largest decline over 3 years | -19.36% | -6.00% | -13.36% |
Max Drawdown (5Y)Largest decline over 5 years | -25.77% | -18.14% | -7.63% |
Max Drawdown (10Y)Largest decline over 10 years | -32.96% | -18.81% | -14.15% |
Current DrawdownCurrent decline from peak | 0.00% | -2.18% | +2.18% |
Average DrawdownAverage peak-to-trough decline | -7.09% | -2.67% | -4.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.19% | 0.96% | +1.23% |
Volatility
VMCTX vs. VBTLX - Volatility Comparison
Vanguard Mega Cap Index Fund Institutional Shares (VMCTX) has a higher volatility of 2.93% compared to Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) at 1.38%. This indicates that VMCTX'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
| VMCTX | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.93% | 1.38% | +1.55% |
Volatility (6M)Calculated over the trailing 6-month period | 9.29% | 2.80% | +6.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.32% | 3.97% | +8.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.34% | 6.01% | +11.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.28% | 4.98% | +13.30% |
VMCTX vs. VBTLX - Expense Ratio Comparison
VMCTX has a 0.06% expense ratio, which is higher than VBTLX'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%.
Dividends
VMCTX vs. VBTLX - Dividend Comparison
VMCTX's dividend yield for the trailing twelve months is around 0.87%, less than VBTLX's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.98% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
VMCTX Vanguard Mega Cap Index Fund Institutional Shares | 0.87% | 0.94% | 1.16% | 1.36% | 1.66% | 1.18% | 1.46% | 1.82% | 2.11% | 1.84% | 2.13% | 2.13% |
Frequently Asked Questions
VMCTX and VBTLX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VMCTX has higher volatility (2.93%) compared to VBTLX (1.38%). In terms of maximum drawdown, VMCTX dropped -52.00% vs VBTLX's -18.81%.
VMCTX currently has the higher Sharpe Ratio (2.56 vs 1.36), 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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