VMSIX vs. VGMS
VMSIX (Vanguard Multi-Sector Income Bond Inv) and VGMS (Vanguard Multi-Sector Income Bond ETF) are both Multisector Bonds funds from Vanguard. Both are actively managed. Over the past year, VMSIX returned 5.79% vs 6.37% for VGMS. Their correlation of 0.82 suggests significant overlap in exposure. VMSIX charges 0.45%/yr vs 0.30%/yr for VGMS.
Performance
VMSIX vs. VGMS - Performance Comparison
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Returns By Period
In the year-to-date period, VMSIX achieves a 1.14% return, which is significantly lower than VGMS's 1.67% return.
VMSIX
- 1D
- 0.00%
- 1M
- 0.57%
- YTD
- 1.14%
- 6M
- 1.36%
- 1Y
- 5.79%
- 3Y*
- 7.77%
- 5Y*
- —
- 10Y*
- —
VGMS
- 1D
- 0.20%
- 1M
- 0.93%
- YTD
- 1.67%
- 6M
- 1.67%
- 1Y
- 6.37%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VMSIX vs. VGMS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VMSIX Vanguard Multi-Sector Income Bond Inv | 1.14% | 5.52% |
VGMS Vanguard Multi-Sector Income Bond ETF | 1.67% | 5.51% |
Correlation
The correlation between VMSIX and VGMS is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2025 | 0.82 |
The correlation between VMSIX and VGMS has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.
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Return for Risk
VMSIX vs. VGMS — Risk / Return Rank
VMSIX
VGMS
VMSIX vs. VGMS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Multi-Sector Income Bond Inv (VMSIX) and Vanguard Multi-Sector Income Bond ETF (VGMS). 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.
| VMSIX | VGMS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.38 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 2.60 | +0.20 |
| Martin ratioReturn relative to average drawdown | 12.81 | 11.76 | +1.04 |
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Drawdowns
VMSIX vs. VGMS - Drawdown Comparison
The maximum VMSIX drawdown since its inception was -13.11%, which is greater than VGMS's maximum drawdown of -2.46%. Use the drawdown chart below to compare losses from any high point for VMSIX and VGMS.
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Drawdown Indicators
| VMSIX | VGMS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.11% | -2.46% | -10.65% |
Max Drawdown (1Y)Largest decline over 1 year | -2.20% | -2.46% | +0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -3.82% | — | — |
Current DrawdownCurrent decline from peak | -0.22% | 0.00% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -3.04% | -0.30% | -2.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 0.54% | -0.06% |
Volatility
VMSIX vs. VGMS - Volatility Comparison
The current volatility for Vanguard Multi-Sector Income Bond Inv (VMSIX) is 0.74%, while Vanguard Multi-Sector Income Bond ETF (VGMS) has a volatility of 1.07%. This indicates that VMSIX experiences smaller price fluctuations and is considered to be less risky than VGMS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMSIX | VGMS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 1.07% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 2.04% | 2.64% | -0.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.51% | 3.26% | -0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.67% | 3.24% | +1.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.67% | 3.24% | +1.43% |
VMSIX vs. VGMS - Expense Ratio Comparison
VMSIX has a 0.45% expense ratio, which is higher than VGMS's 0.30% expense ratio.
Dividends
VMSIX vs. VGMS - Dividend Comparison
VMSIX's dividend yield for the trailing twelve months is around 5.44%, more than VGMS's 5.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
VGMS Vanguard Multi-Sector Income Bond ETF | 5.13% | 2.94% | 0.00% | 0.00% | 0.00% |
VMSIX Vanguard Multi-Sector Income Bond Inv | 5.44% | 5.56% | 6.37% | 5.43% | 3.66% |
Frequently Asked Questions
VMSIX and VGMS have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGMS has higher volatility (1.07%) compared to VMSIX (0.74%). In terms of maximum drawdown, VMSIX dropped -13.11% vs VGMS's -2.46%.
VMSIX currently has the higher Sharpe Ratio (2.47 vs 1.97), 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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