VSMPX vs. VBMPX

Last updated Jun 3, 2026

VSMPX (Vanguard Total Stock Market Index Fund Institutional Plus Shares) and VBMPX (Vanguard Total Bond Market Index Fund Institutional Plus Shares) are both mutual funds - VSMPX is a Large Cap Blend Equities fund managed by Vanguard, while VBMPX is a Total Bond Market fund managed by Vanguard. Over the past 10 years, VSMPX returned 15.11%/yr vs 1.58%/yr for VBMPX. At a correlation of -0.03, they often move in opposite directions. VSMPX charges 0.02%/yr vs 0.03%/yr for VBMPX.

Performance

VSMPX vs. VBMPX - 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 Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSMPX achieves a 11.72% return, which is significantly higher than VBMPX's 0.43% return. Over the past 10 years, VSMPX has outperformed VBMPX with an annualized return of 15.11%, while VBMPX has yielded a comparatively lower 1.58% annualized return.

VSMPX

• 1D: 0.25%
• 1M: 5.10%
• YTD: 11.72%
• 6M: 12.08%
• 1Y: 29.67%
• 3Y*: 22.27%
• 5Y*: 12.90%
• 10Y*: 15.11%

VBMPX

• 1D: -0.10%
• 1M: 0.14%
• YTD: 0.43%
• 6M: 0.46%
• 1Y: 5.36%
• 3Y*: 4.06%
• 5Y*: 0.19%
• 10Y*: 1.58%

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

VSMPX vs. VBMPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSMPX Vanguard Total Stock Market Index Fund Institutional Plus Shares	11.72%	17.15%	23.26%	26.53%	-19.50%	25.74%	21.01%	30.79%	-5.16%	21.19%
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares	0.43%	7.18%	1.27%	5.75%	-13.14%	-1.95%	7.75%	8.74%	-0.24%	3.58%

Correlation

The correlation between VSMPX and VBMPX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.21
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 Jan 5, 2016	-0.03

The correlation between VSMPX and VBMPX shifts across timeframes, from -0.03 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VSMPX vs. VBMPX — Risk / Return Rank

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

VSMPX

VSMPX Risk / Return Rank: 72
VSMPX Sharpe Ratio Rank: 73
VSMPX Sortino Ratio Rank: 65
VSMPX Omega Ratio Rank: 64
VSMPX Calmar Ratio Rank: 74
VSMPX Martin Ratio Rank: 83

VBMPX

VBMPX Risk / Return Rank: 21
VBMPX Sharpe Ratio Rank: 18
VBMPX Sortino Ratio Rank: 19
VBMPX Omega Ratio Rank: 17
VBMPX Calmar Ratio Rank: 26
VBMPX Martin Ratio Rank: 22

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.

VSMPX vs. VBMPX - 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 Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX). 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.

	VSMPX	VBMPX	Difference
Sharpe ratio Return per unit of total volatility	2.49	1.27	+1.21
Sortino ratio Return per unit of downside risk	3.38	1.91	+1.47
Omega ratio Gain probability vs. loss probability	1.45	1.23	+0.22
Calmar ratio Return relative to maximum drawdown	3.38	1.94	+1.44
Martin ratio Return relative to average drawdown	15.64	5.87	+9.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSMPX vs. VBMPX - Sharpe Ratio Comparison

The current VSMPX Sharpe Ratio is 2.49, which is higher than the VBMPX Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of VSMPX and VBMPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VSMPX	VBMPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	1.27	+1.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.03	+0.72
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.32	+0.51
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.52	+0.31

Drawdowns

VSMPX vs. VBMPX - Drawdown Comparison

The maximum VSMPX drawdown since its inception was -34.97%, which is greater than VBMPX's maximum drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for VSMPX and VBMPX.

Drawdown Indicators

	VSMPX	VBMPX	Difference
Max Drawdown Largest peak-to-trough decline	-34.97%	-18.90%	-16.07%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-2.89%	-6.03%
Max Drawdown (3Y) Largest decline over 3 years	-19.36%	-5.99%	-13.37%
Max Drawdown (5Y) Largest decline over 5 years	-25.35%	-18.12%	-7.23%
Max Drawdown (10Y) Largest decline over 10 years	-34.97%	-18.90%	-16.07%
Current Drawdown Current decline from peak	0.00%	-2.23%	+2.23%
Average Drawdown Average peak-to-trough decline	-4.59%	-3.53%	-1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	0.96%	+0.97%

Volatility

VSMPX vs. VBMPX - Volatility Comparison

Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX) has a higher volatility of 2.95% compared to Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX) at 1.38%. This indicates that VSMPX's price experiences larger fluctuations and is considered to be riskier than VBMPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSMPX	VBMPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.95%	1.38%	+1.57%
Volatility (6M) Calculated over the trailing 6-month period	9.20%	2.80%	+6.40%
Volatility (1Y) Calculated over the trailing 1-year period	12.21%	3.98%	+8.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.36%	6.02%	+11.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.41%	4.99%	+13.42%

VSMPX vs. VBMPX - Expense Ratio Comparison

VSMPX has a 0.02% expense ratio, which is lower than VBMPX's 0.03% 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

VSMPX vs. VBMPX - Dividend Comparison

VSMPX's dividend yield for the trailing twelve months is around 1.02%, less than VBMPX's 4.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares	4.00%	3.88%	3.69%	3.11%	2.61%	1.81%	2.41%	2.75%	2.58%	2.58%	2.55%	2.85%
VSMPX Vanguard Total Stock Market Index Fund Institutional Plus Shares	1.02%	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 VBMPX in my portfolio?

VSMPX and VBMPX have a correlation of 0.24, 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 VBMPX?

VSMPX has higher volatility (2.95%) compared to VBMPX (1.38%). In terms of maximum drawdown, VSMPX dropped -34.97% vs VBMPX's -18.90%.

Which has better risk-adjusted returns?

VSMPX currently has the higher Sharpe Ratio (2.49 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.