VUSFX vs. VESIX
VUSFX (Vanguard Ultra-Short-Term Bond Fund Admiral Shares) and VESIX (Vanguard European Stock Index Fund Institutional Shares) are both mutual funds - VUSFX is a Total Bond Market fund managed by Vanguard, while VESIX is a Europe Equities fund managed by Vanguard. Over the past 10 years, VUSFX returned 2.71%/yr vs 9.03%/yr for VESIX. At a 0.12 correlation, their price movements are largely independent. VUSFX charges 0.10%/yr vs 0.08%/yr for VESIX.
Performance
VUSFX vs. VESIX - Performance Comparison
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Returns By Period
In the year-to-date period, VUSFX achieves a 1.37% return, which is significantly lower than VESIX's 4.82% return. Over the past 10 years, VUSFX has underperformed VESIX with an annualized return of 2.71%, while VESIX has yielded a comparatively higher 9.03% annualized return.
VUSFX
- 1D
- -0.05%
- 1M
- 0.21%
- YTD
- 1.37%
- 6M
- 1.71%
- 1Y
- 4.46%
- 3Y*
- 5.41%
- 5Y*
- 3.49%
- 10Y*
- 2.71%
VESIX
- 1D
- -2.04%
- 1M
- -1.00%
- YTD
- 4.82%
- 6M
- 8.07%
- 1Y
- 15.81%
- 3Y*
- 16.13%
- 5Y*
- 8.06%
- 10Y*
- 9.03%
VUSFX vs. VESIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VUSFX Vanguard Ultra-Short-Term Bond Fund Admiral Shares | 1.37% | 5.11% | 6.11% | 5.53% | -0.38% | 0.08% | 2.10% | 3.39% | 2.10% | 1.37% |
VESIX Vanguard European Stock Index Fund Institutional Shares | 4.82% | 35.43% | 2.02% | 20.03% | -16.07% | 16.31% | 6.46% | 24.24% | -14.78% | 27.05% |
Correlation
The correlation between VUSFX and VESIX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016 | 0.12 |
Over the past year, VUSFX and VESIX have become more correlated (0.33) than their long-term average of 0.12, meaning their price movements have been converging.
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Return for Risk
VUSFX vs. VESIX — Risk / Return Rank
VUSFX
VESIX
VUSFX vs. VESIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Ultra-Short-Term Bond Fund Admiral Shares (VUSFX) and Vanguard European Stock Index Fund Institutional Shares (VESIX). 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.
| VUSFX | VESIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.42 | ||
| Sortino ratioReturn per unit of downside risk | +13.26 | ||
| Omega ratioGain probability vs. loss probability | 4.47 | 1.19 | +3.27 |
| Calmar ratioReturn relative to maximum drawdown | 17.78 | 1.36 | +16.42 |
| Martin ratioReturn relative to average drawdown | 106.06 | 5.01 | +101.04 |
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
| VUSFX | VESIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 7.47 | 1.06 | +6.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 4.33 | 0.46 | +3.86 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 3.99 | 0.50 | +3.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.99 | 0.26 | +3.73 |
Drawdowns
VUSFX vs. VESIX - Drawdown Comparison
The maximum VUSFX drawdown since its inception was -1.71%, smaller than the maximum VESIX drawdown of -63.25%. Use the drawdown chart below to compare losses from any high point for VUSFX and VESIX.
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Drawdown Indicators
| VUSFX | VESIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.71% | -63.25% | +61.54% |
Max Drawdown (1Y)Largest decline over 1 year | -0.25% | -11.96% | +11.71% |
Max Drawdown (3Y)Largest decline over 3 years | -0.35% | -13.94% | +13.59% |
Max Drawdown (5Y)Largest decline over 5 years | -1.71% | -32.68% | +30.97% |
Max Drawdown (10Y)Largest decline over 10 years | -1.71% | -36.85% | +35.14% |
Current DrawdownCurrent decline from peak | -0.05% | -3.24% | +3.19% |
Average DrawdownAverage peak-to-trough decline | -0.15% | -15.22% | +15.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 3.24% | -3.20% |
Volatility
VUSFX vs. VESIX - Volatility Comparison
The current volatility for Vanguard Ultra-Short-Term Bond Fund Admiral Shares (VUSFX) is 0.14%, while Vanguard European Stock Index Fund Institutional Shares (VESIX) has a volatility of 5.11%. This indicates that VUSFX experiences smaller price fluctuations and is considered to be less risky than VESIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VUSFX | VESIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.14% | 5.11% | -4.97% |
Volatility (6M)Calculated over the trailing 6-month period | 0.41% | 12.78% | -12.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.59% | 15.39% | -14.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.81% | 17.41% | -16.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.68% | 18.25% | -17.57% |
VUSFX vs. VESIX - Expense Ratio Comparison
VUSFX has a 0.10% expense ratio, which is higher than VESIX's 0.08% 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
VUSFX vs. VESIX - Dividend Comparison
VUSFX's dividend yield for the trailing twelve months is around 4.54%, more than VESIX's 2.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VESIX Vanguard European Stock Index Fund Institutional Shares | 2.84% | 2.86% | 3.60% | 3.15% | 3.25% | 3.04% | 2.10% | 3.28% | 3.95% | 2.72% | 3.54% | 3.27% |
VUSFX Vanguard Ultra-Short-Term Bond Fund Admiral Shares | 4.54% | 4.73% | 5.52% | 4.15% | 1.38% | 0.53% | 1.62% | 2.68% | 2.23% | 1.52% | 1.07% | 0.00% |
Frequently Asked Questions
VUSFX and VESIX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VESIX has higher volatility (5.11%) compared to VUSFX (0.14%). In terms of maximum drawdown, VUSFX dropped -1.71% vs VESIX's -63.25%.
VUSFX currently has the higher Sharpe Ratio (7.47 vs 1.06), 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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