VPLS vs. VCPIX
VPLS (Vanguard Core-Plus Bond ETF) and VCPIX (Vanguard Core-Plus Bond Fund Investor Shares) are both funds - VPLS is a Intermediate Core-Plus Bond fund actively managed by Vanguard, while VCPIX is a Total Bond Market fund managed by Vanguard. Over the past year, VPLS returned 5.14% vs 4.93% for VCPIX. Their correlation of 0.95 suggests significant overlap in exposure. VPLS charges 0.20%/yr vs 0.30%/yr for VCPIX.
Performance
VPLS vs. VCPIX - Performance Comparison
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Returns By Period
In the year-to-date period, VPLS achieves a 0.90% return, which is significantly higher than VCPIX's 0.62% return.
VPLS
- 1D
- 0.10%
- 1M
- 0.72%
- YTD
- 0.90%
- 6M
- 1.01%
- 1Y
- 5.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VCPIX
- 1D
- -0.23%
- 1M
- 0.63%
- YTD
- 0.62%
- 6M
- 0.85%
- 1Y
- 4.93%
- 3Y*
- 5.18%
- 5Y*
- —
- 10Y*
- —
VPLS vs. VCPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VPLS Vanguard Core-Plus Bond ETF | 0.90% | 7.86% | 2.72% | 2.83% |
VCPIX Vanguard Core-Plus Bond Fund Investor Shares | 0.62% | 8.01% | 2.83% | 2.35% |
Correlation
The correlation between VPLS and VCPIX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2023 | 0.95 |
The correlation between VPLS and VCPIX has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.
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Return for Risk
VPLS vs. VCPIX — Risk / Return Rank
VPLS
VCPIX
VPLS vs. VCPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Core-Plus Bond ETF (VPLS) and Vanguard Core-Plus Bond Fund Investor Shares (VCPIX). 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.
| VPLS | VCPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.27 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 1.91 | -0.01 |
| Martin ratioReturn relative to average drawdown | 5.92 | 5.93 | -0.01 |
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Drawdowns
VPLS vs. VCPIX - Drawdown Comparison
The maximum VPLS drawdown since its inception was -4.17%, smaller than the maximum VCPIX drawdown of -17.33%. Use the drawdown chart below to compare losses from any high point for VPLS and VCPIX.
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Drawdown Indicators
| VPLS | VCPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.17% | -17.33% | +13.16% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -2.72% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.68% | — |
Current DrawdownCurrent decline from peak | -0.96% | -1.12% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -1.01% | -6.53% | +5.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 0.87% | 0.00% |
Volatility
VPLS vs. VCPIX - Volatility Comparison
Vanguard Core-Plus Bond ETF (VPLS) and Vanguard Core-Plus Bond Fund Investor Shares (VCPIX) have volatilities of 0.96% and 1.01%, 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.
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Volatility by Period
| VPLS | VCPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 1.01% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 2.68% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.60% | 3.51% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.59% | 5.67% | -1.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.59% | 5.67% | -1.08% |
VPLS vs. VCPIX - Expense Ratio Comparison
VPLS has a 0.20% expense ratio, which is lower than VCPIX's 0.30% expense ratio.
Dividends
VPLS vs. VCPIX - Dividend Comparison
VPLS's dividend yield for the trailing twelve months is around 4.75%, which matches VCPIX's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
VCPIX Vanguard Core-Plus Bond Fund Investor Shares | 4.74% | 4.76% | 5.08% | 4.46% | 3.15% | 0.25% |
VPLS Vanguard Core-Plus Bond ETF | 4.75% | 4.78% | 4.52% | 0.18% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, VPLS and VCPIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VCPIX has higher volatility (1.01%) compared to VPLS (0.96%). In terms of maximum drawdown, VPLS dropped -4.17% vs VCPIX's -17.33%.
VCPIX currently has the higher Sharpe Ratio (1.48 vs 1.44), 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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