VSMIX vs. VTSAX
VSMIX (Vanguard Short-Term Investment-Grade Fund Investor Shares) and VTSAX (Vanguard Total Stock Market Index Fund Admiral Shares) are both mutual funds - VSMIX is a Short-Term Bond fund managed by Vanguard, while VTSAX is a Large Cap Blend Equities fund managed by Vanguard. Over the past 10 years, VSMIX returned 18.06%/yr vs 15.12%/yr for VTSAX. Their correlation of 0.85 suggests significant overlap in exposure. VSMIX charges 0.20%/yr vs 0.04%/yr for VTSAX.
Performance
VSMIX vs. VTSAX - Performance Comparison
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Returns By Period
In the year-to-date period, VSMIX achieves a 31.47% return, which is significantly higher than VTSAX's 11.98% return. Over the past 10 years, VSMIX has outperformed VTSAX with an annualized return of 18.06%, while VTSAX has yielded a comparatively lower 15.12% annualized return.
VSMIX
- 1D
- 3.56%
- 1M
- 7.76%
- YTD
- 31.47%
- 6M
- 33.25%
- 1Y
- 62.50%
- 3Y*
- 33.02%
- 5Y*
- 19.87%
- 10Y*
- 18.06%
VTSAX
- 1D
- 0.24%
- 1M
- 5.76%
- YTD
- 11.98%
- 6M
- 11.87%
- 1Y
- 29.09%
- 3Y*
- 22.34%
- 5Y*
- 13.04%
- 10Y*
- 15.12%
VSMIX vs. VTSAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSMIX Vanguard Short-Term Investment-Grade Fund Investor Shares | 31.47% | 18.01% | 24.82% | 23.14% | 4.58% | 36.67% | 11.14% | 32.32% | -25.45% | 18.47% |
VTSAX Vanguard Total Stock Market Index Fund Admiral Shares | 11.98% | 17.12% | 23.23% | 26.51% | -19.52% | 25.72% | 20.98% | 30.79% | -5.18% | 21.16% |
Correlation
The correlation between VSMIX and VTSAX 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 | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2005 | 0.86 |
The correlation between VSMIX and VTSAX has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.
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Return for Risk
VSMIX vs. VTSAX — Risk / Return Rank
VSMIX
VTSAX
VSMIX vs. VTSAX - 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 Stock Market Index Fund Admiral Shares (VTSAX). 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 | VTSAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.44 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 5.82 | 3.37 | +2.44 |
| Martin ratioReturn relative to average drawdown | 20.62 | 15.56 | +5.05 |
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
| VSMIX | VTSAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.21 | 2.47 | +0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.86 | 0.76 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 0.82 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.47 | +0.02 |
Drawdowns
VSMIX vs. VTSAX - Drawdown Comparison
The maximum VSMIX drawdown since its inception was -57.53%, roughly equal to the maximum VTSAX drawdown of -55.33%. Use the drawdown chart below to compare losses from any high point for VSMIX and VTSAX.
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Drawdown Indicators
| VSMIX | VTSAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.53% | -55.33% | -2.20% |
Max Drawdown (1Y)Largest decline over 1 year | -11.39% | -8.92% | -2.47% |
Max Drawdown (3Y)Largest decline over 3 years | -25.26% | -19.36% | -5.90% |
Max Drawdown (5Y)Largest decline over 5 years | -25.26% | -25.36% | +0.10% |
Max Drawdown (10Y)Largest decline over 10 years | -57.53% | -34.97% | -22.56% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -9.52% | -9.01% | -0.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 1.93% | +1.27% |
Volatility
VSMIX vs. VTSAX - Volatility Comparison
Vanguard Short-Term Investment-Grade Fund Investor Shares (VSMIX) has a higher volatility of 6.33% compared to Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) at 2.95%. This indicates that VSMIX's price experiences larger fluctuations and is considered to be riskier than VTSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSMIX | VTSAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.33% | 2.95% | +3.38% |
Volatility (6M)Calculated over the trailing 6-month period | 15.87% | 9.19% | +6.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.66% | 12.19% | +8.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.18% | 17.36% | +5.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.72% | 18.41% | +8.31% |
VSMIX vs. VTSAX - Expense Ratio Comparison
VSMIX has a 0.20% expense ratio, which is higher than VTSAX's 0.04% 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%.
Dividends
VSMIX vs. VTSAX - Dividend Comparison
VSMIX's dividend yield for the trailing twelve months is around 6.49%, more than VTSAX's 1.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSMIX Vanguard Short-Term Investment-Grade Fund Investor Shares | 6.49% | 8.53% | 7.40% | 4.71% | 9.53% | 15.84% | 0.40% | 2.37% | 26.83% | 15.94% | 1.65% | 10.91% |
VTSAX Vanguard Total Stock Market Index Fund Admiral Shares | 1.00% | 1.11% | 1.26% | 1.42% | 1.65% | 1.20% | 1.41% | 1.76% | 2.03% | 1.71% | 1.92% | 1.98% |
Frequently Asked Questions
VSMIX and VTSAX 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.
VSMIX has higher volatility (6.33%) compared to VTSAX (2.95%). In terms of maximum drawdown, VSMIX dropped -57.53% vs VTSAX's -55.33%.
VSMIX currently has the higher Sharpe Ratio (3.21 vs 2.47), 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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