VSMAX vs. VTABX

Last updated Jun 13, 2026

VSMAX (Vanguard Small-Cap Index Fund Admiral Shares) and VTABX (Vanguard Total International Bond Index Fund Admiral Shares) are both mutual funds - VSMAX is a Small Cap Blend Equities fund tracking the CRSP US Small Cap Index, while VTABX is a Global Bonds fund tracking the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index Hedged. Both are passively managed. Over the past 10 years, VSMAX returned 11.48%/yr vs 1.77%/yr for VTABX. At a correlation of -0.01, they often move in opposite directions. VSMAX charges 0.05%/yr vs 0.10%/yr for VTABX.

Performance

VSMAX vs. VTABX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap Index Fund Admiral Shares (VSMAX) and Vanguard Total International Bond Index Fund Admiral Shares (VTABX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSMAX achieves a 14.59% return, which is significantly higher than VTABX's 0.56% return. Over the past 10 years, VSMAX has outperformed VTABX with an annualized return of 11.48%, while VTABX has yielded a comparatively lower 1.77% annualized return.

VSMAX

• 1D: 2.58%
• 1M: 2.57%
• YTD: 14.59%
• 6M: 12.93%
• 1Y: 30.00%
• 3Y*: 16.37%
• 5Y*: 6.83%
• 10Y*: 11.48%

VTABX

• 1D: 0.42%
• 1M: 0.76%
• YTD: 0.56%
• 6M: 0.91%
• 1Y: 1.74%
• 3Y*: 4.15%
• 5Y*: 0.30%
• 10Y*: 1.77%

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

VSMAX vs. VTABX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSMAX Vanguard Small-Cap Index Fund Admiral Shares	14.59%	8.83%	14.23%	18.17%	-17.61%	17.74%	19.06%	27.36%	-9.33%	16.24%
VTABX Vanguard Total International Bond Index Fund Admiral Shares	0.56%	2.96%	3.92%	8.77%	-12.92%	-2.22%	4.54%	8.83%	2.97%	2.39%

Correlation

The correlation between VSMAX and VTABX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (10Y) Calculated over the trailing 10-year period	0.02
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013	-0.01

The correlation between VSMAX and VTABX shifts across timeframes, from -0.01 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.

VSMAX vs. VTABX - Sectors Allocation Comparison

Sectors	VSMAX	VTABX
Industrials	20.8%	0.0%
Technology	17.2%	100.0%
Financial Services	12.6%	0.0%
Consumer Cyclical	11.3%	-
Healthcare	11.1%	0.0%
Real Estate	7.6%	0.0%
Basic Materials	4.8%	-
Energy	4.7%	0.0%
Consumer Defensive	3.4%	-
Utilities	3.3%	0.0%
Communication Services	3.1%	0.0%

Return for Risk

VSMAX vs. VTABX — Risk / Return Rank

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

VSMAX

VSMAX Risk / Return Rank: 62
VSMAX Sharpe Ratio Rank: 52
VSMAX Sortino Ratio Rank: 54
VSMAX Omega Ratio Rank: 46
VSMAX Calmar Ratio Rank: 81
VSMAX Martin Ratio Rank: 78

VTABX

VTABX Risk / Return Rank: 11
VTABX Sharpe Ratio Rank: 11
VTABX Sortino Ratio Rank: 11
VTABX Omega Ratio Rank: 11
VTABX Calmar Ratio Rank: 10
VTABX Martin Ratio Rank: 10

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.

VSMAX vs. VTABX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Index Fund Admiral Shares (VSMAX) and Vanguard Total International Bond Index Fund Admiral Shares (VTABX). 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.

	VSMAX	VTABX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	0.64	+1.04
Sortino ratio: Return per unit of downside risk	2.39	0.92	+1.47
Omega ratio: Gain probability vs. loss probability	1.29	1.11	+0.18
Calmar ratio: Return relative to maximum drawdown	3.11	0.67	+2.43
Martin ratio: Return relative to average drawdown	11.42	1.84	+9.58

VSMAX vs. VTABX - Sharpe Ratio Comparison

The current VSMAX Sharpe Ratio is 1.67, which is higher than the VTABX Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of VSMAX and VTABX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VSMAX vs. VTABX - Drawdown Comparison

The maximum VSMAX drawdown since its inception was -59.68%, which is greater than VTABX's maximum drawdown of -16.16%. Use the drawdown chart below to compare losses from any high point for VSMAX and VTABX.

Drawdown Indicators

	VSMAX	VTABX	Difference
Max Drawdown Largest peak-to-trough decline	-59.68%	-16.16%	-43.52%
Max Drawdown (1Y) Largest decline over 1 year	-8.97%	-2.90%	-6.07%
Max Drawdown (3Y) Largest decline over 3 years	-25.25%	-2.90%	-22.35%
Max Drawdown (5Y) Largest decline over 5 years	-28.14%	-15.81%	-12.33%
Max Drawdown (10Y) Largest decline over 10 years	-41.82%	-16.16%	-25.66%
Current Drawdown Current decline from peak	-0.32%	-1.30%	+0.98%
Average Drawdown Average peak-to-trough decline	-9.68%	-3.04%	-6.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.44%	1.06%	+1.38%

Volatility

VSMAX vs. VTABX - Volatility Comparison

Vanguard Small-Cap Index Fund Admiral Shares (VSMAX) has a higher volatility of 5.47% compared to Vanguard Total International Bond Index Fund Admiral Shares (VTABX) at 1.27%. This indicates that VSMAX's price experiences larger fluctuations and is considered to be riskier than VTABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSMAX	VTABX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.47%	1.27%	+4.20%
Volatility (6M) Calculated over the trailing 6-month period	12.32%	2.61%	+9.71%
Volatility (1Y) Calculated over the trailing 1-year period	16.69%	3.08%	+13.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.77%	4.45%	+16.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.59%	3.62%	+17.97%

VSMAX vs. VTABX - Expense Ratio Comparison

VSMAX has a 0.05% expense ratio, which is lower than VTABX's 0.10% 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

VSMAX vs. VTABX - Dividend Comparison

VSMAX's dividend yield for the trailing twelve months is around 1.19%, less than VTABX's 4.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VSMAX Vanguard Small-Cap Index Fund Admiral Shares	1.19%	1.33%	1.30%	1.56%	1.54%	1.24%	1.14%	1.39%	1.67%	1.35%	1.49%	1.48%
VTABX Vanguard Total International Bond Index Fund Admiral Shares	4.46%	4.36%	4.33%	4.39%	1.48%	3.70%	1.08%	4.28%	3.00%	2.23%	1.80%	1.64%

Frequently Asked Questions

Can I hold both VSMAX and VTABX in my portfolio?

VSMAX and VTABX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSMAX or VTABX?

VSMAX has higher volatility (5.47%) compared to VTABX (1.27%). In terms of maximum drawdown, VSMAX dropped -59.68% vs VTABX's -16.16%.

Which has better risk-adjusted returns?

VSMAX currently has the higher Sharpe Ratio (1.67 vs 0.64), 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.