VUBFX vs. VUSFX

Last updated Jun 24, 2026

VUBFX (Vanguard Ultra-Short-Term Bond Fund Investor Shares) and VUSFX (Vanguard Ultra-Short-Term Bond Fund Admiral Shares) are both Total Bond Market funds from Vanguard. Over the past 10 years, VUBFX returned 2.61%/yr vs 2.71%/yr for VUSFX. A 0.54 correlation means they provide meaningful diversification when combined. VUBFX charges 0.20%/yr vs 0.10%/yr for VUSFX.

Performance

VUBFX vs. VUSFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX) and Vanguard Ultra-Short-Term Bond Fund Admiral Shares (VUSFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VUBFX having a 1.47% return and VUSFX slightly higher at 1.52%. Both investments have delivered pretty close results over the past 10 years, with VUBFX having a 2.61% annualized return and VUSFX not far ahead at 2.71%.

VUBFX

• 1D: 0.10%
• 1M: 0.25%
• YTD: 1.47%
• 6M: 1.58%
• 1Y: 4.19%
• 3Y*: 5.29%
• 5Y*: 3.42%
• 10Y*: 2.61%

VUSFX

• 1D: 0.05%
• 1M: 0.26%
• YTD: 1.52%
• 6M: 1.62%
• 1Y: 4.31%
• 3Y*: 5.41%
• 5Y*: 3.52%
• 10Y*: 2.71%

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

VUBFX vs. VUSFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VUBFX Vanguard Ultra-Short-Term Bond Fund Investor Shares	1.47%	5.04%	5.99%	5.43%	-0.53%	0.03%	1.95%	3.34%	1.94%	1.23%
VUSFX Vanguard Ultra-Short-Term Bond Fund Admiral Shares	1.52%	5.11%	6.11%	5.53%	-0.38%	0.08%	2.10%	3.39%	2.10%	1.37%

Correlation

The correlation between VUBFX and VUSFX is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.54

The correlation between VUBFX and VUSFX shifts across timeframes, from 0.54 (all time) to 0.67 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

VUBFX vs. VUSFX — Risk / Return Rank

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

VUBFX

VUBFX Risk / Return Rank: 100
VUBFX Sharpe Ratio Rank: 100
VUBFX Sortino Ratio Rank: 100
VUBFX Omega Ratio Rank: 99
VUBFX Calmar Ratio Rank: 99
VUBFX Martin Ratio Rank: 100

VUSFX

VUSFX Risk / Return Rank: 100
VUSFX Sharpe Ratio Rank: 100
VUSFX Sortino Ratio Rank: 100
VUSFX Omega Ratio Rank: 99
VUSFX Calmar Ratio Rank: 99
VUSFX Martin Ratio Rank: 100

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.

VUBFX vs. VUSFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX) and Vanguard Ultra-Short-Term Bond Fund Admiral Shares (VUSFX). 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.

	VUBFX	VUSFX	Difference
Sharpe ratio: Return per unit of total volatility	5.51	7.24	-1.73
Sortino ratio: Return per unit of downside risk	12.01	14.04	-2.03
Omega ratio: Gain probability vs. loss probability	4.18	4.29	-0.11
Calmar ratio: Return relative to maximum drawdown	14.44	17.57	-3.14
Martin ratio: Return relative to average drawdown	81.08	102.22	-21.15

VUBFX vs. VUSFX - Sharpe Ratio Comparison

The current VUBFX Sharpe Ratio is 5.51, which is comparable to the VUSFX Sharpe Ratio of 7.24. The chart below compares the historical Sharpe Ratios of VUBFX and VUSFX, 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

VUBFX vs. VUSFX - Drawdown Comparison

The maximum VUBFX drawdown since its inception was -1.86%, which is greater than VUSFX's maximum drawdown of -1.71%. Use the drawdown chart below to compare losses from any high point for VUBFX and VUSFX.

Drawdown Indicators

	VUBFX	VUSFX	Difference
Max Drawdown Largest peak-to-trough decline	-1.86%	-1.71%	-0.15%
Max Drawdown (1Y) Largest decline over 1 year	-0.30%	-0.25%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-0.30%	-0.35%	+0.05%
Max Drawdown (5Y) Largest decline over 5 years	-1.86%	-1.71%	-0.15%
Max Drawdown (10Y) Largest decline over 10 years	-1.86%	-1.71%	-0.15%
Current Drawdown Current decline from peak	-0.00%	-0.05%	+0.05%
Average Drawdown Average peak-to-trough decline	-0.17%	-0.15%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.05%	0.04%	+0.01%

Volatility

VUBFX vs. VUSFX - Volatility Comparison

Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX) has a higher volatility of 0.25% compared to Vanguard Ultra-Short-Term Bond Fund Admiral Shares (VUSFX) at 0.19%. This indicates that VUBFX's price experiences larger fluctuations and is considered to be riskier than VUSFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VUBFX	VUSFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.25%	0.19%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	0.57%	0.43%	+0.14%
Volatility (1Y) Calculated over the trailing 1-year period	0.78%	0.61%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.99%	0.81%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.84%	0.68%	+0.16%

VUBFX vs. VUSFX - Expense Ratio Comparison

VUBFX has a 0.20% expense ratio, which is higher than VUSFX's 0.10% 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

VUBFX vs. VUSFX - Dividend Comparison

VUBFX's dividend yield for the trailing twelve months is around 4.42%, less than VUSFX's 4.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
VUBFX Vanguard Ultra-Short-Term Bond Fund Investor Shares	4.42%	4.62%	5.42%	4.06%	1.28%	0.43%	1.52%	2.58%	2.13%	1.43%	0.98%
VUSFX Vanguard Ultra-Short-Term Bond Fund Admiral Shares	4.53%	4.73%	5.52%	4.15%	1.38%	0.53%	1.62%	2.68%	2.23%	1.52%	1.07%

Frequently Asked Questions

Can I hold both VUBFX and VUSFX in my portfolio?

VUBFX and VUSFX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VUBFX or VUSFX?

VUBFX has higher volatility (0.25%) compared to VUSFX (0.19%). In terms of maximum drawdown, VUBFX dropped -1.86% vs VUSFX's -1.71%.

Which has better risk-adjusted returns?

VUSFX currently has the higher Sharpe Ratio (7.24 vs 5.51), 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.