VTBNX vs. VFSIX
Compare and contrast key facts about Vanguard Total Bond Market II Index Fund (VTBNX) and Vanguard Short-Term Investment-Grade Fund Institutional Shares (VFSIX).
VTBNX is managed by Vanguard. VFSIX is managed by Vanguard. It was launched on Sep 30, 1997.
Performance
VTBNX vs. VFSIX - Performance Comparison
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VTBNX vs. VFSIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTBNX Vanguard Total Bond Market II Index Fund | -0.60% | 7.18% | 1.32% | 5.68% | -13.12% | -1.82% | 7.39% | 8.71% | -0.27% | 3.62% |
VFSIX Vanguard Short-Term Investment-Grade Fund Institutional Shares | -0.38% | 6.89% | 5.12% | 5.88% | -5.72% | -0.59% | 5.28% | 5.88% | 1.00% | 2.15% |
Returns By Period
In the year-to-date period, VTBNX achieves a -0.60% return, which is significantly lower than VFSIX's -0.38% return. Over the past 10 years, VTBNX has underperformed VFSIX with an annualized return of 1.56%, while VFSIX has yielded a comparatively higher 2.59% annualized return.
VTBNX
- 1D
- 0.42%
- 1M
- -2.26%
- YTD
- -0.60%
- 6M
- 0.40%
- 1Y
- 3.62%
- 3Y*
- 3.40%
- 5Y*
- 0.22%
- 10Y*
- 1.56%
VFSIX
- 1D
- 0.19%
- 1M
- -1.42%
- YTD
- -0.38%
- 6M
- 0.78%
- 1Y
- 4.38%
- 3Y*
- 5.16%
- 5Y*
- 2.28%
- 10Y*
- 2.59%
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VTBNX vs. VFSIX - Expense Ratio Comparison
VTBNX has a 0.02% expense ratio, which is lower than VFSIX's 0.07% 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%.
Return for Risk
VTBNX vs. VFSIX — Risk / Return Rank
VTBNX
VFSIX
VTBNX vs. VFSIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market II Index Fund (VTBNX) and Vanguard Short-Term Investment-Grade Fund Institutional Shares (VFSIX). 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.
| VTBNX | VFSIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.98 | 1.94 | -0.96 |
Sortino ratioReturn per unit of downside risk | 1.41 | 3.20 | -1.79 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.43 | -0.26 |
Calmar ratioReturn relative to maximum drawdown | 1.77 | 2.98 | -1.20 |
Martin ratioReturn relative to average drawdown | 5.02 | 12.10 | -7.08 |
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
| VTBNX | VFSIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.98 | 1.94 | -0.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.77 | -0.74 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | 1.05 | -0.73 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 1.53 | -1.16 |
Correlation
The correlation between VTBNX and VFSIX is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VTBNX vs. VFSIX - Dividend Comparison
VTBNX's dividend yield for the trailing twelve months is around 3.68%, less than VFSIX's 4.32% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VTBNX Vanguard Total Bond Market II Index Fund | 3.68% | 3.95% | 3.77% | 3.13% | 2.54% | 1.82% | 3.12% | 2.79% | 2.56% | 2.52% | 2.55% | 0.00% |
VFSIX Vanguard Short-Term Investment-Grade Fund Institutional Shares | 4.32% | 4.61% | 4.19% | 2.88% | 2.06% | 1.81% | 2.35% | 2.95% | 2.80% | 2.13% | 2.17% | 2.12% |
Drawdowns
VTBNX vs. VFSIX - Drawdown Comparison
The maximum VTBNX drawdown since its inception was -18.71%, which is greater than VFSIX's maximum drawdown of -9.21%. Use the drawdown chart below to compare losses from any high point for VTBNX and VFSIX.
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Drawdown Indicators
| VTBNX | VFSIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.71% | -9.21% | -9.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -1.71% | -0.96% |
Max Drawdown (5Y)Largest decline over 5 years | -18.05% | -9.21% | -8.84% |
Max Drawdown (10Y)Largest decline over 10 years | -18.71% | -9.21% | -9.50% |
Current DrawdownCurrent decline from peak | -3.11% | -1.42% | -1.69% |
Average DrawdownAverage peak-to-trough decline | -4.91% | -0.79% | -4.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.42% | +0.52% |
Volatility
VTBNX vs. VFSIX - Volatility Comparison
Vanguard Total Bond Market II Index Fund (VTBNX) has a higher volatility of 1.52% compared to Vanguard Short-Term Investment-Grade Fund Institutional Shares (VFSIX) at 0.75%. This indicates that VTBNX's price experiences larger fluctuations and is considered to be riskier than VFSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTBNX | VFSIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.52% | 0.75% | +0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 1.50% | +1.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.32% | 2.53% | +1.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 2.95% | +2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.91% | 2.47% | +2.44% |