VSBIX vs. BND
Compare and contrast key facts about Vanguard Short-Term Treasury Index Fund Institutional Shares (VSBIX) and Vanguard Total Bond Market ETF (BND).
VSBIX is managed by Vanguard. It was launched on Aug 23, 2010. BND is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Aggregate Float Adjusted Index. It was launched on Apr 3, 2007.
Performance
VSBIX vs. BND - Performance Comparison
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VSBIX vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSBIX Vanguard Short-Term Treasury Index Fund Institutional Shares | 0.28% | 5.11% | 4.37% | 4.28% | -3.87% | -0.67% | 3.11% | 3.53% | 1.52% | 0.40% |
BND Vanguard Total Bond Market ETF | 0.09% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Returns By Period
In the year-to-date period, VSBIX achieves a 0.28% return, which is significantly higher than BND's 0.09% return. Both investments have delivered pretty close results over the past 10 years, with VSBIX having a 1.76% annualized return and BND not far behind at 1.68%.
VSBIX
- 1D
- 0.04%
- 1M
- -0.33%
- YTD
- 0.28%
- 6M
- 1.24%
- 1Y
- 3.69%
- 3Y*
- 4.12%
- 5Y*
- 1.86%
- 10Y*
- 1.76%
BND
- 1D
- 0.04%
- 1M
- -1.30%
- YTD
- 0.09%
- 6M
- 0.74%
- 1Y
- 3.96%
- 3Y*
- 3.60%
- 5Y*
- 0.25%
- 10Y*
- 1.68%
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VSBIX vs. BND - Expense Ratio Comparison
VSBIX has a 0.05% expense ratio, which is higher than BND's 0.03% 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%.
Return for Risk
VSBIX vs. BND — Risk / Return Rank
VSBIX
BND
VSBIX vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Treasury Index Fund Institutional Shares (VSBIX) and Vanguard Total Bond Market ETF (BND). 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.
| VSBIX | BND | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.65 | 0.93 | +1.72 |
Sortino ratioReturn per unit of downside risk | 4.33 | 1.32 | +3.01 |
Omega ratioGain probability vs. loss probability | 1.58 | 1.16 | +0.41 |
Calmar ratioReturn relative to maximum drawdown | 4.70 | 1.75 | +2.95 |
Martin ratioReturn relative to average drawdown | 18.02 | 4.78 | +13.24 |
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
| VSBIX | BND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.65 | 0.93 | +1.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.96 | 0.04 | +0.92 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.16 | 0.30 | +0.85 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.09 | 0.59 | +0.50 |
Correlation
The correlation between VSBIX and BND is 0.72, 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
VSBIX vs. BND - Dividend Comparison
VSBIX's dividend yield for the trailing twelve months is around 3.59%, less than BND's 3.93% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSBIX Vanguard Short-Term Treasury Index Fund Institutional Shares | 3.59% | 3.99% | 4.52% | 3.31% | 1.14% | 0.65% | 1.74% | 2.28% | 1.81% | 1.11% | 0.80% | 0.74% |
BND Vanguard Total Bond Market ETF | 3.93% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
Drawdowns
VSBIX vs. BND - Drawdown Comparison
The maximum VSBIX drawdown since its inception was -5.74%, smaller than the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for VSBIX and BND.
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Drawdown Indicators
| VSBIX | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.74% | -18.58% | +12.84% |
Max Drawdown (1Y)Largest decline over 1 year | -0.81% | -2.44% | +1.63% |
Max Drawdown (5Y)Largest decline over 5 years | -5.74% | -17.91% | +12.17% |
Max Drawdown (10Y)Largest decline over 10 years | -5.74% | -18.58% | +12.84% |
Current DrawdownCurrent decline from peak | -0.44% | -2.54% | +2.10% |
Average DrawdownAverage peak-to-trough decline | -0.59% | -3.07% | +2.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.90% | -0.69% |
Volatility
VSBIX vs. BND - Volatility Comparison
The current volatility for Vanguard Short-Term Treasury Index Fund Institutional Shares (VSBIX) is 0.51%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.63%. This indicates that VSBIX experiences smaller price fluctuations and is considered to be less risky than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSBIX | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.51% | 1.63% | -1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 0.82% | 2.52% | -1.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.42% | 4.30% | -2.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.94% | 6.00% | -4.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.53% | 5.52% | -3.99% |