VSMPX vs. TCBIX

Last updated Aug 4, 2026

VSMPX (Vanguard Total Stock Market Index Fund Institutional Plus Shares) and TCBIX (The Covered Bridge Fund) are both mutual funds - VSMPX is a Large Cap Blend Equities fund tracking the CRSP US Total Market Index, while TCBIX is a Derivative Income fund managed by Covered Bridge. Over the past 10 years, VSMPX returned 14.64%/yr vs 7.57%/yr for TCBIX. Their 0.74 correlation means they have sometimes moved together and sometimes differently. VSMPX charges 0.02%/yr vs 1.40%/yr for TCBIX.

Performance

VSMPX vs. TCBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX) and The Covered Bridge Fund (TCBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VSMPX having a 10.51% return and TCBIX slightly higher at 10.92%. Over the past 10 years, VSMPX has outperformed TCBIX with an annualized return of 14.64%, while TCBIX has yielded a comparatively lower 7.57% annualized return.

VSMPX

• 1D: 0.57%
• 1M: -0.21%
• 6M: 8.18%
• YTD: 10.51%
• 1Y: 21.82%
• 3Y*: 18.94%
• 5Y*: 11.76%
• 10Y*: 14.64%
• ALL TIME*: 14.68%

TCBIX

• 1D: -0.10%
• 1M: 1.59%
• 6M: 7.01%
• YTD: 10.92%
• 1Y: 19.02%
• 3Y*: 9.71%
• 5Y*: 6.94%
• 10Y*: 7.57%
• ALL TIME*: 7.25%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TCBIX The Covered Bridge Fund	$0.00	$0.00	$0.00
VSMPX Vanguard Total Stock Market Index Fund Institutional Plus Shares	$0.00	$0.00	$0.00

VSMPX vs. TCBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSMPX Vanguard Total Stock Market Index Fund Institutional Plus Shares	10.51%	17.15%	23.26%	26.53%	-19.50%	25.74%	21.01%	30.79%	-5.16%	21.19%
TCBIX The Covered Bridge Fund	10.92%	12.61%	4.09%	4.09%	0.05%	18.21%	-1.71%	18.73%	-3.93%	9.66%

Correlation

The correlation between VSMPX and TCBIX is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.51
Correlation (3Y) Balances recent behavior with more history.	0.58
Correlation (5Y) Shows whether the relationship held over a longer period.	0.71
Correlation (10Y) Provides a long-term view across more market conditions.	0.73
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.74

Over the past year, the correlation between VSMPX and TCBIX has dropped to 0.51 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

Return for Risk

VSMPX vs. TCBIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VSMPX

VSMPX Risk / Return Rank: 59
VSMPX Sharpe Ratio Rank: 55
VSMPX Sortino Ratio Rank: 52
VSMPX Omega Ratio Rank: 51
VSMPX Calmar Ratio Rank: 62
VSMPX Martin Ratio Rank: 76

TCBIX

TCBIX Risk / Return Rank: 86
TCBIX Sharpe Ratio Rank: 86
TCBIX Sortino Ratio Rank: 87
TCBIX Omega Ratio Rank: 80
TCBIX Calmar Ratio Rank: 90
TCBIX Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VSMPX vs. TCBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX) and The Covered Bridge Fund (TCBIX). 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.

	VSMPX	TCBIX	Difference
Sharpe ratio: Return per unit of total volatility	1.52	2.14	-0.63
Sortino ratio: Return per unit of downside risk	2.11	3.21	-1.10
Omega ratio: Gain probability vs. loss probability	1.27	1.38	-0.11
Calmar ratio: Return relative to maximum drawdown	2.23	3.53	-1.30
Martin ratio: Return relative to average drawdown	9.64	11.58	-1.94

VSMPX vs. TCBIX - Sharpe Ratio Comparison

The current VSMPX Sharpe Ratio is 1.52, which is comparable to the TCBIX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of VSMPX and TCBIX, 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

VSMPX vs. TCBIX - Drawdown Comparison

The maximum VSMPX drawdown since its inception was -34.97%, which is greater than TCBIX's maximum drawdown of -28.94%. Use the drawdown chart below to compare losses from any high point for VSMPX and TCBIX.

Drawdown Indicators

	VSMPX	TCBIX	Difference
Max Drawdown Largest peak-to-trough decline	-34.97%	-28.94%	-6.03%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-5.26%	-3.66%
Max Drawdown (3Y) Largest decline over 3 years	-19.36%	-12.73%	-6.63%
Max Drawdown (5Y) Largest decline over 5 years	-25.35%	-17.07%	-8.28%
Max Drawdown (10Y) Largest decline over 10 years	-34.97%	-28.94%	-6.03%
Current Drawdown Current decline from peak	-1.32%	-0.31%	-1.01%
Average Drawdown Average peak-to-trough decline	-4.54%	-3.45%	-1.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	1.60%	+0.46%

Volatility

VSMPX vs. TCBIX - Volatility Comparison

Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX) has a higher volatility of 3.45% compared to The Covered Bridge Fund (TCBIX) at 2.90%. This indicates that VSMPX's price experiences larger fluctuations and is considered to be riskier than TCBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSMPX	TCBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	2.90%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	10.28%	6.45%	+3.83%
Volatility (1Y) Calculated over the trailing 1-year period	13.14%	8.77%	+4.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.46%	12.20%	+5.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.41%	13.51%	+4.90%

VSMPX vs. TCBIX - Expense Ratio Comparison

VSMPX has a 0.02% expense ratio, which is lower than TCBIX's 1.40% expense ratio.

Dividends

VSMPX vs. TCBIX - Dividend Comparison

VSMPX's dividend yield for the trailing twelve months is around 1.07%, less than TCBIX's 8.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TCBIX The Covered Bridge Fund	8.34%	8.24%	7.47%	7.34%	8.09%	6.00%	4.70%	6.77%	11.55%	7.32%	7.32%	5.36%
VSMPX Vanguard Total Stock Market Index Fund Institutional Plus Shares	1.07%	1.13%	1.27%	1.43%	1.67%	1.22%	1.43%	1.78%	2.05%	1.73%	1.95%	0.00%

Frequently Asked Questions

Can I hold both VSMPX and TCBIX in my portfolio?

VSMPX and TCBIX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSMPX or TCBIX?

VSMPX has higher volatility (3.45%) compared to TCBIX (2.90%). In terms of maximum drawdown, VSMPX dropped -34.97% vs TCBIX's -28.94%.

Which has better risk-adjusted returns?

TCBIX currently has the higher Sharpe Ratio (2.14 vs 1.52), 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.