VMSIX vs. VMSAX

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Multi-Sector Income Bond Inv (VMSIX) and Vanguard Multi-Sector Income Bond Fund Admiral Shares (VMSAX).

VMSIX is an actively managed fund by Vanguard. It was launched on Oct 14, 2021. VMSAX is an actively managed fund by Vanguard. It was launched on Oct 12, 2021.

Performance

VMSIX vs. VMSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Multi-Sector Income Bond Inv (VMSIX) and Vanguard Multi-Sector Income Bond Fund Admiral Shares (VMSAX). The values are adjusted to include any dividend payments, if applicable.

VMSIX vs. VMSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
VMSIX Vanguard Multi-Sector Income Bond Inv	-1.00%	9.09%	6.68%	10.43%	-8.50%
VMSAX Vanguard Multi-Sector Income Bond Fund Admiral Shares	-0.99%	9.08%	6.86%	10.53%	-8.42%

Returns By Period

The year-to-date returns for both investments are quite close, with VMSIX having a -1.00% return and VMSAX slightly higher at -0.99%.

VMSIX

• 1D: 0.22%
• 1M: -1.88%
• YTD: -1.00%
• 6M: 0.67%
• 1Y: 5.96%
• 3Y*: 7.10%
• 5Y*: —
• 10Y*: —

VMSAX

• 1D: 0.22%
• 1M: -1.98%
• YTD: -0.99%
• 6M: 0.66%
• 1Y: 6.00%
• 3Y*: 7.21%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VMSIX vs. VMSAX - Expense Ratio Comparison

VMSIX has a 0.45% expense ratio, which is higher than VMSAX's 0.30% expense ratio.

VMSIX

Vanguard Multi-Sector Income Bond Inv

VMSAX

Vanguard Multi-Sector Income Bond Fund Admiral Shares

Return for Risk

VMSIX vs. VMSAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VMSIX

VMSIX Risk / Return Rank: 92
VMSIX Sharpe Ratio Rank: 94
VMSIX Sortino Ratio Rank: 94
VMSIX Omega Ratio Rank: 93
VMSIX Calmar Ratio Rank: 87
VMSIX Martin Ratio Rank: 90

VMSAX

VMSAX Risk / Return Rank: 35
VMSAX Sharpe Ratio Rank: 6
VMSAX Sortino Ratio Rank: 44
VMSAX Omega Ratio Rank: 98
VMSAX Calmar Ratio Rank: 8
VMSAX Martin Ratio Rank: 17

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VMSIX vs. VMSAX - 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 Fund Admiral Shares (VMSAX). 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.

	VMSIX	VMSAX	Difference
Sharpe ratio Return per unit of total volatility	2.08	0.05	+2.04
Sortino ratio Return per unit of downside risk	2.93	1.32	+1.61
Omega ratio Gain probability vs. loss probability	1.47	2.07	-0.61
Calmar ratio Return relative to maximum drawdown	2.27	0.11	+2.16
Martin ratio Return relative to average drawdown	10.30	1.75	+8.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VMSIX vs. VMSAX - Sharpe Ratio Comparison

The current VMSIX Sharpe Ratio is 2.08, which is higher than the VMSAX Sharpe Ratio of 0.05. The chart below compares the historical Sharpe Ratios of VMSIX and VMSAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VMSIX	VMSAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	0.05	+2.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.06	+0.73

Correlation

The correlation between VMSIX and VMSAX is 0.97, 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

VMSIX vs. VMSAX - Dividend Comparison

VMSIX's dividend yield for the trailing twelve months is around 5.07%, less than VMSAX's 5.17% yield.

	TTM	2025	2024	2023	2022
VMSIX Vanguard Multi-Sector Income Bond Inv	5.07%	5.56%	6.37%	5.43%	3.66%
VMSAX Vanguard Multi-Sector Income Bond Fund Admiral Shares	5.17%	5.66%	6.48%	5.52%	3.76%

Drawdowns

VMSIX vs. VMSAX - Drawdown Comparison

The maximum VMSIX drawdown since its inception was -13.11%, smaller than the maximum VMSAX drawdown of -54.84%. Use the drawdown chart below to compare losses from any high point for VMSIX and VMSAX.

Drawdown Indicators

	VMSIX	VMSAX	Difference
Max Drawdown Largest peak-to-trough decline	-13.11%	-54.84%	+41.73%
Max Drawdown (1Y) Largest decline over 1 year	-2.65%	-54.84%	+52.19%
Current Drawdown Current decline from peak	-1.99%	-2.03%	+0.04%
Average Drawdown Average peak-to-trough decline	-3.19%	-3.21%	+0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	3.50%	-2.92%

Volatility

VMSIX vs. VMSAX - Volatility Comparison

Vanguard Multi-Sector Income Bond Inv (VMSIX) and Vanguard Multi-Sector Income Bond Fund Admiral Shares (VMSAX) have volatilities of 1.23% and 1.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VMSIX	VMSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	1.19%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	1.67%	112.83%	-111.16%
Volatility (1Y) Calculated over the trailing 1-year period	2.91%	133.59%	-130.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.75%	65.65%	-60.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.75%	65.65%	-60.90%