VSTBX vs. VBTLX
VSTBX (Vanguard Short-Term Corporate Bond Index Fund Institutional Shares) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both mutual funds - VSTBX is a Corporate Bonds fund managed by Vanguard, while VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, VSTBX returned 2.99%/yr vs 1.57%/yr for VBTLX. Their correlation of 0.82 suggests significant overlap in exposure. VSTBX charges 0.05%/yr vs 0.04%/yr for VBTLX.
Performance
VSTBX vs. VBTLX - Performance Comparison
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Returns By Period
In the year-to-date period, VSTBX achieves a 0.73% return, which is significantly higher than VBTLX's 0.42% return. Over the past 10 years, VSTBX has outperformed VBTLX with an annualized return of 2.99%, while VBTLX has yielded a comparatively lower 1.57% annualized return.
VSTBX
- 1D
- 0.15%
- 1M
- 0.34%
- YTD
- 0.73%
- 6M
- 0.88%
- 1Y
- 4.27%
- 3Y*
- 5.73%
- 5Y*
- 2.45%
- 10Y*
- 2.99%
VBTLX
- 1D
- 0.31%
- 1M
- 0.97%
- YTD
- 0.42%
- 6M
- 0.76%
- 1Y
- 4.68%
- 3Y*
- 4.08%
- 5Y*
- 0.02%
- 10Y*
- 1.57%
VSTBX vs. VBTLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSTBX Vanguard Short-Term Corporate Bond Index Fund Institutional Shares | 0.73% | 6.75% | 5.37% | 6.17% | -5.73% | -0.41% | 5.07% | 9.68% | 0.92% | 2.48% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 0.42% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Correlation
The correlation between VSTBX and VBTLX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2009 | 0.82 |
The correlation between VSTBX and VBTLX has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.
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Return for Risk
VSTBX vs. VBTLX — Risk / Return Rank
VSTBX
VBTLX
VSTBX vs. VBTLX - 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 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.
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.
| VSTBX | VBTLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.27 | ||
| Sortino ratioReturn per unit of downside risk | +1.98 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.21 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | 1.63 | +1.72 |
| Martin ratioReturn relative to average drawdown | 13.18 | 4.63 | +8.56 |
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Drawdowns
VSTBX vs. VBTLX - Drawdown Comparison
The maximum VSTBX drawdown since its inception was -9.34%, smaller than the maximum VBTLX drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for VSTBX and VBTLX.
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Drawdown Indicators
| VSTBX | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.34% | -18.81% | +9.47% |
Max Drawdown (1Y)Largest decline over 1 year | -1.31% | -2.89% | +1.58% |
Max Drawdown (3Y)Largest decline over 3 years | -1.31% | -6.00% | +4.69% |
Max Drawdown (5Y)Largest decline over 5 years | -9.34% | -18.14% | +8.80% |
Max Drawdown (10Y)Largest decline over 10 years | -9.34% | -18.81% | +9.47% |
Current DrawdownCurrent decline from peak | -0.24% | -2.18% | +1.94% |
Average DrawdownAverage peak-to-trough decline | -0.95% | -2.67% | +1.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.33% | 1.01% | -0.68% |
Volatility
VSTBX vs. VBTLX - Volatility Comparison
The current volatility for Vanguard Short-Term Corporate Bond Index Fund Institutional Shares (VSTBX) is 0.66%, while Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) has a volatility of 1.21%. This indicates that VSTBX experiences smaller price fluctuations and is considered to be less risky than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSTBX | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 1.21% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 1.34% | 2.86% | -1.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.78% | 3.90% | -2.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.72% | 6.01% | -3.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.38% | 4.99% | -2.61% |
VSTBX vs. VBTLX - Expense Ratio Comparison
VSTBX has a 0.05% expense ratio, which is higher than VBTLX'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
VSTBX vs. VBTLX - Dividend Comparison
VSTBX's dividend yield for the trailing twelve months is around 4.44%, more than VBTLX's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.98% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
VSTBX Vanguard Short-Term Corporate Bond Index Fund Institutional Shares | 4.44% | 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 VBTLX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBTLX has higher volatility (1.21%) compared to VSTBX (0.66%). In terms of maximum drawdown, VSTBX dropped -9.34% vs VBTLX's -18.81%.
VSTBX currently has the higher Sharpe Ratio (2.48 vs 1.21), 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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