VSBSX vs. VBMFX
VSBSX (Vanguard Short-Term Treasury Index Fund Admiral Shares) and VBMFX (Vanguard Total Bond Market Index Fund) are both mutual funds - VSBSX is a Government Bonds fund managed by Vanguard, while VBMFX is a Intermediate Core Bond fund managed by Vanguard. Over the past 10 years, VSBSX returned 1.75%/yr vs 1.44%/yr for VBMFX. A 0.72 correlation means they provide meaningful diversification when combined. VSBSX charges 0.07%/yr vs 0.15%/yr for VBMFX.
Performance
VSBSX vs. VBMFX - Performance Comparison
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Returns By Period
In the year-to-date period, VSBSX achieves a 0.45% return, which is significantly higher than VBMFX's 0.17% return. Over the past 10 years, VSBSX has outperformed VBMFX with an annualized return of 1.75%, while VBMFX has yielded a comparatively lower 1.44% annualized return.
VSBSX
- 1D
- -0.05%
- 1M
- 0.06%
- YTD
- 0.45%
- 6M
- 0.78%
- 1Y
- 3.25%
- 3Y*
- 4.26%
- 5Y*
- 1.86%
- 10Y*
- 1.75%
VBMFX
- 1D
- -0.21%
- 1M
- 0.12%
- YTD
- 0.17%
- 6M
- 0.29%
- 1Y
- 4.35%
- 3Y*
- 3.86%
- 5Y*
- -0.01%
- 10Y*
- 1.44%
VSBSX vs. VBMFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSBSX Vanguard Short-Term Treasury Index Fund Admiral Shares | 0.45% | 5.08% | 4.39% | 4.23% | -3.87% | -0.69% | 3.09% | 3.51% | 1.52% | 0.35% |
VBMFX Vanguard Total Bond Market Index Fund | 0.17% | 7.05% | 1.15% | 5.62% | -13.25% | -2.04% | 7.63% | 8.61% | -0.34% | 3.45% |
Correlation
The correlation between VSBSX and VBMFX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | 0.72 |
The correlation between VSBSX and VBMFX has been stable across timeframes, ranging from 0.72 to 0.77 - a consistent structural relationship.
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Return for Risk
VSBSX vs. VBMFX — Risk / Return Rank
VSBSX
VBMFX
VSBSX vs. VBMFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX) and Vanguard Total Bond Market Index Fund (VBMFX). 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.
| VSBSX | VBMFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.41 | ||
| Sortino ratioReturn per unit of downside risk | +2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.23 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 4.09 | 1.73 | +2.36 |
| Martin ratioReturn relative to average drawdown | 16.83 | 5.18 | +11.66 |
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
| VSBSX | VBMFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.68 | 1.27 | +1.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.96 | -0.00 | +0.96 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.14 | 0.29 | +0.85 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.07 | 0.96 | +0.11 |
Drawdowns
VSBSX vs. VBMFX - Drawdown Comparison
The maximum VSBSX drawdown since its inception was -5.77%, smaller than the maximum VBMFX drawdown of -19.08%. Use the drawdown chart below to compare losses from any high point for VSBSX and VBMFX.
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Drawdown Indicators
| VSBSX | VBMFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.77% | -19.08% | +13.31% |
Max Drawdown (1Y)Largest decline over 1 year | -0.84% | -2.91% | +2.07% |
Max Drawdown (3Y)Largest decline over 3 years | -0.84% | -6.02% | +5.18% |
Max Drawdown (5Y)Largest decline over 5 years | -5.77% | -18.24% | +12.47% |
Max Drawdown (10Y)Largest decline over 10 years | -5.77% | -19.08% | +13.31% |
Current DrawdownCurrent decline from peak | -0.27% | -3.11% | +2.84% |
Average DrawdownAverage peak-to-trough decline | -0.59% | -2.70% | +2.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 0.97% | -0.77% |
Volatility
VSBSX vs. VBMFX - Volatility Comparison
The current volatility for Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX) is 0.36%, while Vanguard Total Bond Market Index Fund (VBMFX) has a volatility of 1.32%. This indicates that VSBSX experiences smaller price fluctuations and is considered to be less risky than VBMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSBSX | VBMFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 1.32% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 0.87% | 2.77% | -1.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.28% | 3.95% | -2.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.95% | 6.01% | -4.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.54% | 4.98% | -3.44% |
VSBSX vs. VBMFX - Expense Ratio Comparison
VSBSX has a 0.07% expense ratio, which is lower than VBMFX's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VSBSX vs. VBMFX - Dividend Comparison
VSBSX's dividend yield for the trailing twelve months is around 3.85%, which matches VBMFX's 3.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBMFX Vanguard Total Bond Market Index Fund | 3.88% | 3.76% | 3.57% | 2.99% | 2.49% | 1.72% | 2.31% | 2.63% | 2.47% | 2.45% | 2.43% | 2.71% |
VSBSX Vanguard Short-Term Treasury Index Fund Admiral Shares | 3.85% | 3.98% | 4.50% | 3.29% | 1.12% | 0.63% | 1.72% | 2.26% | 1.80% | 1.10% | 0.76% | 0.71% |
Frequently Asked Questions
VSBSX and VBMFX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBMFX has higher volatility (1.32%) compared to VSBSX (0.36%). In terms of maximum drawdown, VSBSX dropped -5.77% vs VBMFX's -19.08%.
VSBSX currently has the higher Sharpe Ratio (2.68 vs 1.27), 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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