VTBIX vs. VBMPX
VTBIX (Vanguard Total Bond Market II Index Fund Investor Shares) and VBMPX (Vanguard Total Bond Market Index Fund Institutional Plus Shares) are both Total Bond Market funds from Vanguard. Over the past 10 years, VTBIX returned 1.44%/yr vs 1.58%/yr for VBMPX. With a 0.97 correlation, they move nearly in lockstep. VTBIX charges 0.09%/yr vs 0.03%/yr for VBMPX.
Performance
VTBIX vs. VBMPX - Performance Comparison
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Returns By Period
In the year-to-date period, VTBIX achieves a 0.30% return, which is significantly lower than VBMPX's 0.43% return. Over the past 10 years, VTBIX has underperformed VBMPX with an annualized return of 1.44%, while VBMPX has yielded a comparatively higher 1.58% annualized return.
VTBIX
- 1D
- 0.00%
- 1M
- 0.45%
- YTD
- 0.30%
- 6M
- 0.22%
- 1Y
- 5.14%
- 3Y*
- 3.84%
- 5Y*
- 0.03%
- 10Y*
- 1.44%
VBMPX
- 1D
- 0.00%
- 1M
- 0.55%
- YTD
- 0.43%
- 6M
- 0.36%
- 1Y
- 5.36%
- 3Y*
- 4.06%
- 5Y*
- 0.23%
- 10Y*
- 1.58%
VTBIX vs. VBMPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTBIX Vanguard Total Bond Market II Index Fund Investor Shares | 0.30% | 7.11% | 1.25% | 5.03% | -13.18% | -1.88% | 7.47% | 8.62% | -0.32% | 3.53% |
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 VTBIX and VBMPX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Aug 6, 2012 | 0.97 |
The correlation between VTBIX and VBMPX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
VTBIX vs. VBMPX — Risk / Return Rank
VTBIX
VBMPX
VTBIX vs. VBMPX - 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 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.
| VTBIX | VBMPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.24 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 1.86 | -0.05 |
| Martin ratioReturn relative to average drawdown | 5.43 | 5.61 | -0.17 |
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 | VBMPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 1.36 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.00 | 0.04 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | 0.32 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.52 | -0.25 |
Drawdowns
VTBIX vs. VBMPX - Drawdown Comparison
The maximum VTBIX drawdown since its inception was -18.72%, roughly equal to the maximum VBMPX drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for VTBIX and VBMPX.
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Drawdown Indicators
| VTBIX | VBMPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.72% | -18.90% | +0.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.84% | -2.89% | +0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -5.98% | -5.99% | +0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -18.11% | -18.12% | +0.01% |
Max Drawdown (10Y)Largest decline over 10 years | -18.72% | -18.90% | +0.18% |
Current DrawdownCurrent decline from peak | -3.00% | -2.23% | -0.77% |
Average DrawdownAverage peak-to-trough decline | -4.42% | -3.53% | -0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.96% | -0.01% |
Volatility
VTBIX vs. VBMPX - Volatility Comparison
Vanguard Total Bond Market II Index Fund Investor Shares (VTBIX) and Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX) have volatilities of 1.33% and 1.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTBIX | VBMPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 1.38% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.80% | 2.80% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.91% | 3.97% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.95% | 6.02% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.92% | 4.98% | -0.06% |
VTBIX vs. VBMPX - Expense Ratio Comparison
VTBIX has a 0.09% expense ratio, which is higher than VBMPX's 0.03% 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. VBMPX - Dividend Comparison
VTBIX's dividend yield for the trailing twelve months is around 3.99%, which matches 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% |
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
With a correlation of 0.96, VTBIX and VBMPX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VBMPX has higher volatility (1.38%) compared to VTBIX (1.33%). In terms of maximum drawdown, VTBIX dropped -18.72% vs VBMPX's -18.90%.
VBMPX currently has the higher Sharpe Ratio (1.36 vs 1.32), 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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