VUSB vs. VBTLX

Last updated Jun 5, 2026

VUSB (Vanguard Ultra-Short Bond ETF) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both funds - VUSB is a Ultrashort Bond fund actively managed by Vanguard, while VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. VUSB is actively managed, while VBTLX is passively managed. Over the past 5 years, VUSB returned 3.44%/yr vs 0.10%/yr for VBTLX. A 0.60 correlation means they provide meaningful diversification when combined. VUSB charges 0.10%/yr vs 0.04%/yr for VBTLX.

Performance

VUSB vs. VBTLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Ultra-Short Bond ETF (VUSB) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VUSB achieves a 1.42% return, which is significantly higher than VBTLX's 0.21% return.

VUSB

• 1D: 0.02%
• 1M: 0.34%
• YTD: 1.42%
• 6M: 1.80%
• 1Y: 4.52%
• 3Y*: 5.36%
• 5Y*: 3.44%
• 10Y*: —

VBTLX

• 1D: -0.21%
• 1M: 0.13%
• YTD: 0.21%
• 6M: 0.34%
• 1Y: 4.47%
• 3Y*: 3.97%
• 5Y*: 0.10%
• 10Y*: 1.56%

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

VUSB vs. VBTLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VUSB Vanguard Ultra-Short Bond ETF	1.42%	5.20%	5.68%	5.52%	-0.36%	0.00%
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares	0.21%	7.17%	1.26%	5.74%	-13.16%	1.58%

Correlation

The correlation between VUSB and VBTLX is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Apr 8, 2021	0.60

The correlation between VUSB and VBTLX has been stable across timeframes, ranging from 0.60 to 0.66 - a consistent structural relationship.

Return for Risk

VUSB vs. VBTLX — Risk / Return Rank

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

VUSB

VUSB Risk / Return Rank: 98
VUSB Sharpe Ratio Rank: 99
VUSB Sortino Ratio Rank: 99
VUSB Omega Ratio Rank: 99
VUSB Calmar Ratio Rank: 97
VUSB Martin Ratio Rank: 98

VBTLX

VBTLX Risk / Return Rank: 21
VBTLX Sharpe Ratio Rank: 20
VBTLX Sortino Ratio Rank: 21
VBTLX Omega Ratio Rank: 19
VBTLX Calmar Ratio Rank: 23
VBTLX Martin Ratio Rank: 20

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.

VUSB vs. VBTLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Ultra-Short Bond ETF (VUSB) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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.

	VUSB	VBTLX	Difference
Sharpe ratio: Return per unit of total volatility	7.04	1.30	+5.74
Sortino ratio: Return per unit of downside risk	12.99	1.96	+11.03
Omega ratio: Gain probability vs. loss probability	3.40	1.23	+2.17
Calmar ratio: Return relative to maximum drawdown	12.26	1.78	+10.48
Martin ratio: Return relative to average drawdown	71.22	5.33	+65.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VUSB vs. VBTLX - Sharpe Ratio Comparison

The current VUSB Sharpe Ratio is 7.04, which is higher than the VBTLX Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of VUSB and VBTLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VUSB	VBTLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.04	1.30	+5.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	4.15	0.02	+4.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.31	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.10	0.76	+3.34

Drawdowns

VUSB vs. VBTLX - Drawdown Comparison

The maximum VUSB drawdown since its inception was -1.79%, smaller than the maximum VBTLX drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for VUSB and VBTLX.

Drawdown Indicators

	VUSB	VBTLX	Difference
Max Drawdown Largest peak-to-trough decline	-1.79%	-18.81%	+17.02%
Max Drawdown (1Y) Largest decline over 1 year	-0.37%	-2.89%	+2.52%
Max Drawdown (3Y) Largest decline over 3 years	-0.46%	-6.00%	+5.54%
Max Drawdown (5Y) Largest decline over 5 years	-1.79%	-18.14%	+16.35%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.81%	—
Current Drawdown Current decline from peak	0.00%	-2.38%	+2.38%
Average Drawdown Average peak-to-trough decline	-0.27%	-2.67%	+2.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	0.96%	-0.90%

Volatility

VUSB vs. VBTLX - Volatility Comparison

The current volatility for Vanguard Ultra-Short Bond ETF (VUSB) is 0.17%, while Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) has a volatility of 1.33%. This indicates that VUSB experiences smaller price fluctuations and is considered to be less risky than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VUSB	VBTLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.17%	1.33%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	0.52%	2.78%	-2.26%
Volatility (1Y) Calculated over the trailing 1-year period	0.65%	3.96%	-3.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.83%	6.01%	-5.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.82%	4.98%	-4.16%

VUSB vs. VBTLX - Expense Ratio Comparison

VUSB has a 0.10% expense ratio, which is higher than VBTLX's 0.04% 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

VUSB vs. VBTLX - Dividend Comparison

VUSB's dividend yield for the trailing twelve months is around 4.39%, more than VBTLX's 3.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares	3.99%	3.87%	3.69%	3.10%	2.59%	1.96%	2.39%	2.74%	2.57%	2.56%	2.53%	2.82%
VUSB Vanguard Ultra-Short Bond ETF	4.39%	4.63%	5.16%	4.45%	1.56%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VUSB and VBTLX in my portfolio?

VUSB and VBTLX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VUSB or VBTLX?

VBTLX has higher volatility (1.33%) compared to VUSB (0.17%). In terms of maximum drawdown, VUSB dropped -1.79% vs VBTLX's -18.81%.

Which has better risk-adjusted returns?

VUSB currently has the higher Sharpe Ratio (7.04 vs 1.30), 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.