VTIBX vs. VTIIX

Last updated Jun 24, 2026

VTIBX (Vanguard Total International Bond Index Fund) and VTIIX (Vanguard Total International Bond II Index Fund Investor Class) are both Global Bonds funds from Vanguard. Over the past 5 years, VTIBX returned 0.43%/yr vs 0.37%/yr for VTIIX. With a 0.96 correlation, they move nearly in lockstep. VTIBX charges 0.13%/yr vs 0.11%/yr for VTIIX.

Performance

VTIBX vs. VTIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total International Bond Index Fund (VTIBX) and Vanguard Total International Bond II Index Fund Investor Class (VTIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with VTIBX having a 0.91% return and VTIIX slightly lower at 0.90%.

VTIBX

• 1D: -0.10%
• 1M: 0.96%
• YTD: 0.91%
• 6M: 1.12%
• 1Y: 2.14%
• 3Y*: 4.23%
• 5Y*: 0.43%
• 10Y*: 1.67%

VTIIX

• 1D: -0.23%
• 1M: 0.81%
• YTD: 0.90%
• 6M: 1.01%
• 1Y: 2.12%
• 3Y*: 4.19%
• 5Y*: 0.37%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VTIBX vs. VTIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VTIBX Vanguard Total International Bond Index Fund	0.91%	2.98%	3.84%	8.86%	-12.97%	-0.37%
VTIIX Vanguard Total International Bond II Index Fund Investor Class	0.90%	2.95%	3.82%	8.72%	-13.03%	-0.52%

Correlation

The correlation between VTIBX and VTIIX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Mar 2, 2021	0.96

The correlation between VTIBX and VTIIX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

Return for Risk

VTIBX vs. VTIIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VTIBX

VTIBX Risk / Return Rank: 8
VTIBX Sharpe Ratio Rank: 9
VTIBX Sortino Ratio Rank: 8
VTIBX Omega Ratio Rank: 8
VTIBX Calmar Ratio Rank: 8
VTIBX Martin Ratio Rank: 8

VTIIX

VTIIX Risk / Return Rank: 8
VTIIX Sharpe Ratio Rank: 9
VTIIX Sortino Ratio Rank: 8
VTIIX Omega Ratio Rank: 8
VTIIX Calmar Ratio Rank: 8
VTIIX Martin Ratio Rank: 8

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VTIBX vs. VTIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Bond Index Fund (VTIBX) and Vanguard Total International Bond II Index Fund Investor Class (VTIIX). 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.

	VTIBX	VTIIX	Difference
Sharpe ratio: Return per unit of total volatility	0.71	0.67	+0.04
Sortino ratio: Return per unit of downside risk	1.03	0.98	+0.05
Omega ratio: Gain probability vs. loss probability	1.13	1.12	+0.01
Calmar ratio: Return relative to maximum drawdown	0.76	0.72	+0.04
Martin ratio: Return relative to average drawdown	2.05	1.96	+0.09

VTIBX vs. VTIIX - Sharpe Ratio Comparison

The current VTIBX Sharpe Ratio is 0.71, which is comparable to the VTIIX Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of VTIBX and VTIIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VTIBX vs. VTIIX - Drawdown Comparison

The maximum VTIBX drawdown since its inception was -16.15%, roughly equal to the maximum VTIIX drawdown of -15.95%. Use the drawdown chart below to compare losses from any high point for VTIBX and VTIIX.

Drawdown Indicators

	VTIBX	VTIIX	Difference
Max Drawdown Largest peak-to-trough decline	-16.15%	-15.95%	-0.20%
Max Drawdown (1Y) Largest decline over 1 year	-2.95%	-2.94%	-0.01%
Max Drawdown (3Y) Largest decline over 3 years	-2.95%	-2.94%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	-15.81%	-15.95%	+0.14%
Max Drawdown (10Y) Largest decline over 10 years	-16.15%	—	—
Current Drawdown Current decline from peak	-0.95%	-1.02%	+0.07%
Average Drawdown Average peak-to-trough decline	-3.07%	-6.00%	+2.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	1.08%	+0.01%

Volatility

VTIBX vs. VTIIX - Volatility Comparison

Vanguard Total International Bond Index Fund (VTIBX) and Vanguard Total International Bond II Index Fund Investor Class (VTIIX) have volatilities of 0.95% and 0.95%, 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.

Volatility by Period

	VTIBX	VTIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.95%	0.95%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	2.70%	2.73%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	3.19%	3.20%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.50%	4.54%	-0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.66%	4.43%	-0.77%

VTIBX vs. VTIIX - Expense Ratio Comparison

VTIBX has a 0.13% expense ratio, which is higher than VTIIX's 0.11% 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

VTIBX vs. VTIIX - Dividend Comparison

VTIBX's dividend yield for the trailing twelve months is around 4.41%, more than VTIIX's 4.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VTIBX Vanguard Total International Bond Index Fund	4.41%	4.33%	4.31%	4.37%	1.41%	3.68%	1.06%	3.36%	2.98%	2.21%	1.76%	1.61%
VTIIX Vanguard Total International Bond II Index Fund Investor Class	4.29%	4.21%	4.46%	4.16%	0.89%	0.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VTIBX and VTIIX in my portfolio?

With a correlation of 0.93, VTIBX and VTIIX 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.

Which is riskier, VTIBX or VTIIX?

VTIIX has higher volatility (0.95%) compared to VTIBX (0.95%). In terms of maximum drawdown, VTIBX dropped -16.15% vs VTIIX's -15.95%.

Which has better risk-adjusted returns?

VTIBX currently has the higher Sharpe Ratio (0.71 vs 0.67), 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.