VTIFX vs. VFSIX
VTIFX (Vanguard Total International Bond Index Fund Institutional Shares) and VFSIX (Vanguard Short-Term Investment-Grade Fund Institutional Shares) are both Total Bond Market funds from Vanguard. Over the past 10 years, VTIFX returned 1.75%/yr vs 2.59%/yr for VFSIX. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 0.07% expense ratio.
Performance
VTIFX vs. VFSIX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with VTIFX having a 0.43% return and VFSIX slightly higher at 0.44%. Over the past 10 years, VTIFX has underperformed VFSIX with an annualized return of 1.75%, while VFSIX has yielded a comparatively higher 2.59% annualized return.
VTIFX
- 1D
- -0.03%
- 1M
- 0.07%
- YTD
- 0.43%
- 6M
- 0.78%
- 1Y
- 2.17%
- 3Y*
- 4.22%
- 5Y*
- 0.43%
- 10Y*
- 1.75%
VFSIX
- 1D
- -0.29%
- 1M
- -0.27%
- YTD
- 0.44%
- 6M
- 0.92%
- 1Y
- 4.72%
- 3Y*
- 5.45%
- 5Y*
- 2.28%
- 10Y*
- 2.59%
VTIFX vs. VFSIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTIFX Vanguard Total International Bond Index Fund Institutional Shares | 0.43% | 3.02% | 3.91% | 9.04% | -12.89% | -2.20% | 4.59% | 7.89% | 2.99% | 2.43% |
VFSIX Vanguard Short-Term Investment-Grade Fund Institutional Shares | 0.44% | 6.89% | 5.12% | 5.88% | -5.72% | -0.59% | 5.28% | 5.88% | 1.00% | 2.15% |
Correlation
The correlation between VTIFX and VFSIX is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2013 | 0.57 |
The correlation between VTIFX and VFSIX shifts across timeframes, from 0.56 (1 year) to 0.66 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VTIFX vs. VFSIX — Risk / Return Rank
VTIFX
VFSIX
VTIFX vs. VFSIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Bond Index Fund Institutional Shares (VTIFX) 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.
| VTIFX | VFSIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -2.33 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.43 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | 2.60 | -1.86 |
| Martin ratioReturn relative to average drawdown | 2.08 | 10.30 | -8.22 |
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
| VTIFX | VFSIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | 1.90 | -1.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | 0.76 | -0.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 1.04 | -0.56 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 1.53 | -0.79 |
Drawdowns
VTIFX vs. VFSIX - Drawdown Comparison
The maximum VTIFX drawdown since its inception was -16.07%, which is greater than VFSIX's maximum drawdown of -9.21%. Use the drawdown chart below to compare losses from any high point for VTIFX and VFSIX.
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Drawdown Indicators
| VTIFX | VFSIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.07% | -9.21% | -6.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -1.71% | -1.17% |
Max Drawdown (3Y)Largest decline over 3 years | -2.88% | -1.71% | -1.17% |
Max Drawdown (5Y)Largest decline over 5 years | -15.75% | -9.21% | -6.54% |
Max Drawdown (10Y)Largest decline over 10 years | -16.07% | -9.21% | -6.86% |
Current DrawdownCurrent decline from peak | -1.43% | -0.61% | -0.82% |
Average DrawdownAverage peak-to-trough decline | -2.97% | -0.79% | -2.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 0.43% | +0.60% |
Volatility
VTIFX vs. VFSIX - Volatility Comparison
Vanguard Total International Bond Index Fund Institutional Shares (VTIFX) has a higher volatility of 1.24% compared to Vanguard Short-Term Investment-Grade Fund Institutional Shares (VFSIX) at 0.78%. This indicates that VTIFX'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
| VTIFX | VFSIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 0.78% | +0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 2.56% | 1.69% | +0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 2.34% | +0.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.44% | 2.99% | +1.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.60% | 2.49% | +1.11% |
VTIFX vs. VFSIX - Expense Ratio Comparison
Both VTIFX and VFSIX have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VTIFX vs. VFSIX - Dividend Comparison
VTIFX's dividend yield for the trailing twelve months is around 4.52%, less than VFSIX's 4.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VFSIX Vanguard Short-Term Investment-Grade Fund Institutional Shares | 4.76% | 4.61% | 4.19% | 2.88% | 2.06% | 1.81% | 2.35% | 2.95% | 2.80% | 2.13% | 2.17% | 2.12% |
VTIFX Vanguard Total International Bond Index Fund Institutional Shares | 4.52% | 4.40% | 4.38% | 4.60% | 1.52% | 3.73% | 1.12% | 3.42% | 3.03% | 2.29% | 1.84% | 1.68% |
Frequently Asked Questions
VTIFX and VFSIX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTIFX has higher volatility (1.24%) compared to VFSIX (0.78%). In terms of maximum drawdown, VTIFX dropped -16.07% vs VFSIX's -9.21%.
VFSIX currently has the higher Sharpe Ratio (1.90 vs 0.71), 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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