VTBIX vs. VBIPX
VTBIX (Vanguard Total Bond Market II Index Fund Investor Shares) and VBIPX (Vanguard Short-Term Bond Index Fund Institutional Plus) are both Total Bond Market funds from Vanguard. Over the past 10 years, VTBIX returned 1.42%/yr vs 1.89%/yr for VBIPX. Their correlation of 0.81 suggests significant overlap in exposure. VTBIX charges 0.09%/yr vs 0.04%/yr for VBIPX.
Performance
VTBIX vs. VBIPX - Performance Comparison
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Returns By Period
In the year-to-date period, VTBIX achieves a 0.09% return, which is significantly lower than VBIPX's 0.22% return. Over the past 10 years, VTBIX has underperformed VBIPX with an annualized return of 1.42%, while VBIPX has yielded a comparatively higher 1.89% annualized return.
VTBIX
- 1D
- -0.21%
- 1M
- 0.13%
- YTD
- 0.09%
- 6M
- 0.21%
- 1Y
- 4.37%
- 3Y*
- 3.76%
- 5Y*
- -0.09%
- 10Y*
- 1.42%
VBIPX
- 1D
- -0.10%
- 1M
- -0.04%
- YTD
- 0.22%
- 6M
- 0.56%
- 1Y
- 3.46%
- 3Y*
- 4.33%
- 5Y*
- 1.51%
- 10Y*
- 1.89%
VTBIX vs. VBIPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTBIX Vanguard Total Bond Market II Index Fund Investor Shares | 0.09% | 7.11% | 1.25% | 5.03% | -13.18% | -1.88% | 7.47% | 8.62% | -0.32% | 3.53% |
VBIPX Vanguard Short-Term Bond Index Fund Institutional Plus | 0.22% | 6.12% | 3.78% | 4.45% | -5.68% | -1.17% | 4.73% | 4.89% | 1.38% | 1.21% |
Correlation
The correlation between VTBIX and VBIPX is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Aug 6, 2012 | 0.81 |
The correlation between VTBIX and VBIPX has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.
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Return for Risk
VTBIX vs. VBIPX — Risk / Return Rank
VTBIX
VBIPX
VTBIX vs. VBIPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market II Index Fund Investor Shares (VTBIX) and Vanguard Short-Term Bond Index Fund Institutional Plus (VBIPX). 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.
| VTBIX | VBIPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.32 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 2.39 | -0.65 |
| Martin ratioReturn relative to average drawdown | 5.17 | 7.79 | -2.62 |
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
| VTBIX | VBIPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 1.63 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | 0.51 | -0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | 0.79 | -0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.79 | -0.52 |
Drawdowns
VTBIX vs. VBIPX - Drawdown Comparison
The maximum VTBIX drawdown since its inception was -18.72%, which is greater than VBIPX's maximum drawdown of -8.72%. Use the drawdown chart below to compare losses from any high point for VTBIX and VBIPX.
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Drawdown Indicators
| VTBIX | VBIPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.72% | -8.72% | -10.00% |
Max Drawdown (1Y)Largest decline over 1 year | -2.84% | -1.54% | -1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -5.98% | -1.54% | -4.44% |
Max Drawdown (5Y)Largest decline over 5 years | -18.11% | -8.69% | -9.42% |
Max Drawdown (10Y)Largest decline over 10 years | -18.72% | -8.72% | -10.00% |
Current DrawdownCurrent decline from peak | -3.20% | -0.72% | -2.48% |
Average DrawdownAverage peak-to-trough decline | -4.42% | -1.19% | -3.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.47% | +0.48% |
Volatility
VTBIX vs. VBIPX - Volatility Comparison
Vanguard Total Bond Market II Index Fund Investor Shares (VTBIX) has a higher volatility of 1.31% compared to Vanguard Short-Term Bond Index Fund Institutional Plus (VBIPX) at 0.68%. This indicates that VTBIX's price experiences larger fluctuations and is considered to be riskier than VBIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTBIX | VBIPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 0.68% | +0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 1.60% | +1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.91% | 2.26% | +1.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.95% | 2.96% | +2.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.92% | 2.40% | +2.52% |
VTBIX vs. VBIPX - Expense Ratio Comparison
VTBIX has a 0.09% expense ratio, which is higher than VBIPX'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
VTBIX vs. VBIPX - Dividend Comparison
VTBIX's dividend yield for the trailing twelve months is around 3.99%, which matches VBIPX's 4.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBIPX Vanguard Short-Term Bond Index Fund Institutional Plus | 4.03% | 3.86% | 3.40% | 2.01% | 1.40% | 1.26% | 1.82% | 2.27% | 2.04% | 1.69% | 1.53% | 1.46% |
VTBIX Vanguard Total Bond Market II Index Fund Investor Shares | 3.99% | 3.88% | 3.70% | 2.53% | 2.47% | 1.75% | 3.20% | 2.72% | 2.51% | 2.43% | 2.48% | 2.64% |
Frequently Asked Questions
VTBIX and VBIPX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTBIX has higher volatility (1.31%) compared to VBIPX (0.68%). In terms of maximum drawdown, VTBIX dropped -18.72% vs VBIPX's -8.72%.
VBIPX currently has the higher Sharpe Ratio (1.63 vs 1.26), 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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