VSTBX vs. BSBIX
VSTBX (Vanguard Short-Term Corporate Bond Index Fund Institutional Shares) and BSBIX (Baird Short-Term Bond Fund Institutional Class) are both mutual funds - VSTBX is a Corporate Bonds fund managed by Vanguard, while BSBIX is a Short-Term Bond fund tracking the Bloomberg Barclays 1-3 Year U.S. Government/Credit Bond Index. Over the past 10 years, VSTBX returned 3.00%/yr vs 2.48%/yr for BSBIX. A 0.75 correlation means they provide meaningful diversification when combined. VSTBX charges 0.05%/yr vs 0.30%/yr for BSBIX.
Performance
VSTBX vs. BSBIX - Performance Comparison
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Returns By Period
In the year-to-date period, VSTBX achieves a 0.66% return, which is significantly lower than BSBIX's 0.73% return. Over the past 10 years, VSTBX has outperformed BSBIX with an annualized return of 3.00%, while BSBIX has yielded a comparatively lower 2.48% annualized return.
VSTBX
- 1D
- -0.08%
- 1M
- 0.15%
- YTD
- 0.66%
- 6M
- 1.00%
- 1Y
- 4.31%
- 3Y*
- 5.65%
- 5Y*
- 2.39%
- 10Y*
- 3.00%
BSBIX
- 1D
- -0.11%
- 1M
- 0.15%
- YTD
- 0.73%
- 6M
- 1.06%
- 1Y
- 3.89%
- 3Y*
- 5.10%
- 5Y*
- 2.49%
- 10Y*
- 2.48%
VSTBX vs. BSBIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSTBX Vanguard Short-Term Corporate Bond Index Fund Institutional Shares | 0.66% | 6.75% | 5.37% | 6.17% | -5.73% | -0.41% | 5.07% | 9.68% | 0.92% | 2.48% |
BSBIX Baird Short-Term Bond Fund Institutional Class | 0.73% | 5.67% | 4.99% | 5.65% | -3.64% | -0.42% | 4.23% | 4.68% | 1.49% | 1.53% |
Correlation
The correlation between VSTBX and BSBIX 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 | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2009 | 0.75 |
The correlation between VSTBX and BSBIX shifts across timeframes, from 0.75 (all time) to 0.85 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VSTBX vs. BSBIX — Risk / Return Rank
VSTBX
BSBIX
VSTBX vs. BSBIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Corporate Bond Index Fund Institutional Shares (VSTBX) and Baird Short-Term Bond Fund Institutional Class (BSBIX). 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.
| VSTBX | BSBIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.82 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 4.28 | -0.78 |
| Martin ratioReturn relative to average drawdown | 13.97 | 18.62 | -4.65 |
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
| VSTBX | BSBIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.62 | 3.07 | -0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.89 | 1.29 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.27 | 1.49 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.46 | 1.64 | -0.18 |
Drawdowns
VSTBX vs. BSBIX - Drawdown Comparison
The maximum VSTBX drawdown since its inception was -9.34%, which is greater than BSBIX's maximum drawdown of -5.95%. Use the drawdown chart below to compare losses from any high point for VSTBX and BSBIX.
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Drawdown Indicators
| VSTBX | BSBIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.34% | -5.95% | -3.39% |
Max Drawdown (1Y)Largest decline over 1 year | -1.31% | -0.94% | -0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -1.31% | -0.94% | -0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -9.34% | -5.95% | -3.39% |
Max Drawdown (10Y)Largest decline over 10 years | -9.34% | -5.95% | -3.39% |
Current DrawdownCurrent decline from peak | -0.32% | -0.13% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -0.96% | -0.55% | -0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.33% | 0.22% | +0.11% |
Volatility
VSTBX vs. BSBIX - Volatility Comparison
Vanguard Short-Term Corporate Bond Index Fund Institutional Shares (VSTBX) has a higher volatility of 0.56% compared to Baird Short-Term Bond Fund Institutional Class (BSBIX) at 0.42%. This indicates that VSTBX's price experiences larger fluctuations and is considered to be riskier than BSBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSTBX | BSBIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.56% | 0.42% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 1.26% | 0.98% | +0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.76% | 1.31% | +0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.71% | 1.94% | +0.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.38% | 1.67% | +0.71% |
VSTBX vs. BSBIX - Expense Ratio Comparison
VSTBX has a 0.05% expense ratio, which is lower than BSBIX's 0.30% expense ratio.
Dividends
VSTBX vs. BSBIX - Dividend Comparison
VSTBX's dividend yield for the trailing twelve months is around 4.45%, more than BSBIX's 4.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSBIX Baird Short-Term Bond Fund Institutional Class | 4.27% | 4.35% | 4.34% | 3.41% | 1.79% | 1.42% | 2.61% | 2.49% | 2.20% | 1.73% | 1.60% | 1.62% |
VSTBX Vanguard Short-Term Corporate Bond Index Fund Institutional Shares | 4.45% | 4.34% | 4.29% | 3.09% | 2.00% | 1.80% | 2.27% | 5.40% | 2.67% | 2.27% | 1.96% | 2.25% |
Frequently Asked Questions
VSTBX and BSBIX 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.
VSTBX has higher volatility (0.56%) compared to BSBIX (0.42%). In terms of maximum drawdown, VSTBX dropped -9.34% vs BSBIX's -5.95%.
BSBIX currently has the higher Sharpe Ratio (3.07 vs 2.62), 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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