VSMIX vs. VBTLX
Compare and contrast key facts about Vanguard Short-Term Investment-Grade Fund Investor Shares (VSMIX) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX).
VSMIX is managed by Vanguard. It was launched on Oct 29, 1982. VBTLX is managed by Vanguard. It was launched on Nov 12, 2001.
Performance
VSMIX vs. VBTLX - Performance Comparison
Loading graphics...
VSMIX vs. VBTLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSMIX Vanguard Short-Term Investment-Grade Fund Investor Shares | 6.62% | 18.01% | 24.82% | 23.14% | 4.58% | 36.67% | 11.14% | 32.32% | -25.45% | 18.47% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | -0.28% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Returns By Period
In the year-to-date period, VSMIX achieves a 6.62% return, which is significantly higher than VBTLX's -0.28% return. Over the past 10 years, VSMIX has outperformed VBTLX with an annualized return of 15.58%, while VBTLX has yielded a comparatively lower 1.62% annualized return.
VSMIX
- 1D
- -1.87%
- 1M
- -11.39%
- YTD
- 6.62%
- 6M
- 12.90%
- 1Y
- 33.79%
- 3Y*
- 24.68%
- 5Y*
- 17.55%
- 10Y*
- 15.58%
VBTLX
- 1D
- 0.21%
- 1M
- -1.63%
- YTD
- -0.28%
- 6M
- 0.40%
- 1Y
- 3.66%
- 3Y*
- 3.51%
- 5Y*
- 0.19%
- 10Y*
- 1.62%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
VSMIX vs. VBTLX - Expense Ratio Comparison
VSMIX has a 0.20% expense ratio, which is higher than VBTLX's 0.05% 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
VSMIX vs. VBTLX — Risk / Return Rank
VSMIX
VBTLX
VSMIX vs. VBTLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Investment-Grade Fund Investor Shares (VSMIX) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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.
| VSMIX | VBTLX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.29 | 0.92 | +0.37 |
Sortino ratioReturn per unit of downside risk | 1.80 | 1.33 | +0.47 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.16 | +0.10 |
Calmar ratioReturn relative to maximum drawdown | 1.66 | 1.66 | 0.00 |
Martin ratioReturn relative to average drawdown | 6.43 | 4.70 | +1.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| VSMIX | VBTLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.29 | 0.92 | +0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.76 | 0.03 | +0.73 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.33 | +0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.76 | -0.31 |
Correlation
The correlation between VSMIX and VBTLX is -0.24. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
VSMIX vs. VBTLX - Dividend Comparison
VSMIX's dividend yield for the trailing twelve months is around 8.00%, more than VBTLX's 3.61% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSMIX Vanguard Short-Term Investment-Grade Fund Investor Shares | 8.00% | 8.53% | 7.40% | 4.71% | 9.53% | 15.84% | 0.40% | 2.37% | 26.83% | 15.94% | 1.65% | 10.91% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.61% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
Drawdowns
VSMIX vs. VBTLX - Drawdown Comparison
The maximum VSMIX drawdown since its inception was -57.53%, which is greater than VBTLX's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for VSMIX and VBTLX.
Loading graphics...
Drawdown Indicators
| VSMIX | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.53% | -18.81% | -38.72% |
Max Drawdown (1Y)Largest decline over 1 year | -16.58% | -2.73% | -13.85% |
Max Drawdown (5Y)Largest decline over 5 years | -25.26% | -18.14% | -7.12% |
Max Drawdown (10Y)Largest decline over 10 years | -57.53% | -18.81% | -38.72% |
Current DrawdownCurrent decline from peak | -11.39% | -2.86% | -8.53% |
Average DrawdownAverage peak-to-trough decline | -9.58% | -2.67% | -6.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.49% | 0.97% | +3.52% |
Volatility
VSMIX vs. VBTLX - Volatility Comparison
Vanguard Short-Term Investment-Grade Fund Investor Shares (VSMIX) has a higher volatility of 8.30% compared to Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) at 1.55%. This indicates that VSMIX's price experiences larger fluctuations and is considered to be riskier than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| VSMIX | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.30% | 1.55% | +6.75% |
Volatility (6M)Calculated over the trailing 6-month period | 16.62% | 2.59% | +14.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.78% | 4.36% | +21.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.13% | 5.98% | +17.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.69% | 4.97% | +21.72% |