VMVAX vs. VBIRX
VMVAX (Vanguard Mid-Cap Value Index Fund Admiral Shares) and VBIRX (Vanguard Short-Term Bond Index Fund Admiral Shares) are both mutual funds - VMVAX is a Mid Cap Value Equities fund tracking the CRSP US Mid Cap Value Index, while VBIRX is a Short-Term Bond fund tracking the Bloomberg U.S. 1-5 Year Government/Credit Float Adjusted Index. Both are passively managed. Over the past 10 years, VMVAX returned 10.77%/yr vs 1.85%/yr for VBIRX. Their -0.09 correlation means they have often moved in opposite directions in the past. VMVAX charges 0.07%/yr vs 0.06%/yr for VBIRX.
Performance
VMVAX vs. VBIRX - Performance Comparison
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Returns By Period
In the year-to-date period, VMVAX achieves a 16.91% return, which is significantly higher than VBIRX's 0.14% return. Over the past 10 years, VMVAX has outperformed VBIRX with an annualized return of 10.77%, while VBIRX has yielded a comparatively lower 1.85% annualized return.
VMVAX
- 1D
- -0.33%
- 1M
- 2.54%
- 6M
- 12.16%
- YTD
- 16.91%
- 1Y
- 26.28%
- 3Y*
- 15.18%
- 5Y*
- 10.18%
- 10Y*
- 10.77%
- ALL TIME*
- 12.53%
VBIRX
- 1D
- 0.00%
- 1M
- -0.29%
- 6M
- 0.00%
- YTD
- 0.14%
- 1Y
- 2.10%
- 3Y*
- 4.40%
- 5Y*
- 1.54%
- 10Y*
- 1.85%
- ALL TIME*
- 2.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VMVAX vs. VBIRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMVAX Vanguard Mid-Cap Value Index Fund Admiral Shares | 16.91% | 12.06% | 13.63% | 10.12% | -7.89% | 28.77% | 2.45% | 28.03% | -12.44% | 17.04% |
VBIRX Vanguard Short-Term Bond Index Fund Admiral Shares | 0.14% | 6.09% | 3.75% | 4.87% | -5.63% | -1.20% | 4.69% | 4.86% | 1.37% | 1.18% |
Correlation
The correlation between VMVAX and VBIRX is 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.16 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.03 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2011 | -0.09 |
The correlation between VMVAX and VBIRX shifts across timeframes, from -0.09 (all time) to 0.17 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VMVAX vs. VBIRX — Risk / Return Rank
VMVAX
VBIRX
VMVAX vs. VBIRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX) and Vanguard Short-Term Bond Index Fund Admiral Shares (VBIRX). 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.
| VMVAX | VBIRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.27 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | 1.98 | +1.60 |
| Martin ratioReturn relative to average drawdown | 13.96 | 5.56 | +8.39 |
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Drawdowns
VMVAX vs. VBIRX - Drawdown Comparison
The maximum VMVAX drawdown since its inception was -43.07%, which is greater than VBIRX's maximum drawdown of -8.69%. Use the drawdown chart below to compare losses from any high point for VMVAX and VBIRX.
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Drawdown Indicators
| VMVAX | VBIRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.07% | -8.69% | -34.38% |
Max Drawdown (1Y)Largest decline over 1 year | -6.95% | -1.54% | -5.41% |
Max Drawdown (3Y)Largest decline over 3 years | -18.40% | -1.55% | -16.85% |
Max Drawdown (5Y)Largest decline over 5 years | -19.75% | -8.55% | -11.20% |
Max Drawdown (10Y)Largest decline over 10 years | -43.07% | -8.69% | -34.38% |
Current DrawdownCurrent decline from peak | -1.07% | -0.79% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -4.33% | -0.98% | -3.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 0.55% | +1.23% |
Volatility
VMVAX vs. VBIRX - Volatility Comparison
Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX) has a higher volatility of 2.69% compared to Vanguard Short-Term Bond Index Fund Admiral Shares (VBIRX) at 0.46%. This indicates that VMVAX's price experiences larger fluctuations and is considered to be riskier than VBIRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMVAX | VBIRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.69% | 0.46% | +2.23% |
Volatility (6M)Calculated over the trailing 6-month period | 8.12% | 1.68% | +6.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.39% | 2.24% | +9.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.88% | 2.98% | +12.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.69% | 2.40% | +16.29% |
VMVAX vs. VBIRX - Expense Ratio Comparison
VMVAX has a 0.07% expense ratio, which is higher than VBIRX's 0.06% 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
VMVAX vs. VBIRX - Dividend Comparison
VMVAX's dividend yield for the trailing twelve months is around 1.81%, less than VBIRX's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBIRX Vanguard Short-Term Bond Index Fund Admiral Shares | 3.69% | 3.83% | 3.37% | 2.41% | 1.46% | 1.22% | 1.77% | 2.24% | 2.03% | 1.66% | 1.50% | 1.41% |
VMVAX Vanguard Mid-Cap Value Index Fund Admiral Shares | 1.81% | 2.10% | 2.11% | 2.26% | 2.27% | 1.78% | 2.36% | 2.08% | 2.75% | 1.86% | 1.91% | 2.04% |
Frequently Asked Questions
VMVAX and VBIRX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VMVAX has higher volatility (2.69%) compared to VBIRX (0.46%). In terms of maximum drawdown, VMVAX dropped -43.07% vs VBIRX's -8.69%.
VMVAX currently has the higher Sharpe Ratio (2.19 vs 1.37), 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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