VUSTX vs. VBIIX
VUSTX (Vanguard Long-Term Treasury Fund Investor Shares) and VBIIX (Vanguard Intermediate-Term Bond Index Fund) are both mutual funds - VUSTX is a Government Bonds fund managed by Vanguard, while VBIIX is a Intermediate Core Bond fund managed by Vanguard. Over the past 10 years, VUSTX returned -1.05%/yr vs 1.77%/yr for VBIIX. Their correlation of 0.89 suggests significant overlap in exposure. VUSTX charges 0.20%/yr vs 0.15%/yr for VBIIX.
Performance
VUSTX vs. VBIIX - Performance Comparison
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Returns By Period
In the year-to-date period, VUSTX achieves a -0.31% return, which is significantly lower than VBIIX's -0.28% return. Over the past 10 years, VUSTX has underperformed VBIIX with an annualized return of -1.05%, while VBIIX has yielded a comparatively higher 1.77% annualized return.
VUSTX
- 1D
- 0.13%
- 1M
- 0.14%
- YTD
- -0.31%
- 6M
- -0.44%
- 1Y
- 5.43%
- 3Y*
- -0.52%
- 5Y*
- -5.32%
- 10Y*
- -1.05%
VBIIX
- 1D
- 0.10%
- 1M
- -0.22%
- YTD
- -0.28%
- 6M
- -0.03%
- 1Y
- 5.18%
- 3Y*
- 3.99%
- 5Y*
- 0.02%
- 10Y*
- 1.77%
VUSTX vs. VBIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VUSTX Vanguard Long-Term Treasury Fund Investor Shares | -0.31% | 5.55% | -6.41% | 3.33% | -29.58% | -4.93% | 18.20% | 14.14% | -1.89% | 8.60% |
VBIIX Vanguard Intermediate-Term Bond Index Fund | -0.28% | 8.12% | 1.44% | 5.67% | -13.34% | -2.73% | 9.72% | 10.11% | -0.24% | 3.78% |
Correlation
The correlation between VUSTX and VBIIX is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 1994 | 0.89 |
The correlation between VUSTX and VBIIX has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.
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Return for Risk
VUSTX vs. VBIIX — Risk / Return Rank
VUSTX
VBIIX
VUSTX vs. VBIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Treasury Fund Investor Shares (VUSTX) and Vanguard Intermediate-Term Bond Index Fund (VBIIX). 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.
| VUSTX | VBIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.17 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.57 | 1.21 | -0.64 |
| Martin ratioReturn relative to average drawdown | 1.49 | 3.63 | -2.14 |
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
| VUSTX | VBIIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | 1.01 | -0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.37 | 0.00 | -0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.08 | 0.33 | -0.41 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.83 | -0.39 |
Drawdowns
VUSTX vs. VBIIX - Drawdown Comparison
The maximum VUSTX drawdown since its inception was -46.37%, which is greater than VBIIX's maximum drawdown of -19.32%. Use the drawdown chart below to compare losses from any high point for VUSTX and VBIIX.
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Drawdown Indicators
| VUSTX | VBIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.37% | -19.32% | -27.05% |
Max Drawdown (1Y)Largest decline over 1 year | -7.19% | -3.44% | -3.75% |
Max Drawdown (3Y)Largest decline over 3 years | -17.70% | -6.07% | -11.63% |
Max Drawdown (5Y)Largest decline over 5 years | -41.45% | -18.93% | -22.52% |
Max Drawdown (10Y)Largest decline over 10 years | -46.37% | -19.32% | -27.05% |
Current DrawdownCurrent decline from peak | -36.62% | -2.58% | -34.04% |
Average DrawdownAverage peak-to-trough decline | -9.35% | -2.98% | -6.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 1.15% | +1.60% |
Volatility
VUSTX vs. VBIIX - Volatility Comparison
Vanguard Long-Term Treasury Fund Investor Shares (VUSTX) has a higher volatility of 2.59% compared to Vanguard Intermediate-Term Bond Index Fund (VBIIX) at 1.40%. This indicates that VUSTX's price experiences larger fluctuations and is considered to be riskier than VBIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VUSTX | VBIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.59% | 1.40% | +1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 6.06% | 3.00% | +3.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.06% | 4.19% | +4.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.60% | 6.38% | +8.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.76% | 5.36% | +8.40% |
VUSTX vs. VBIIX - Expense Ratio Comparison
VUSTX has a 0.20% expense ratio, which is higher than VBIIX's 0.15% 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
VUSTX vs. VBIIX - Dividend Comparison
VUSTX's dividend yield for the trailing twelve months is around 4.47%, more than VBIIX's 4.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBIIX Vanguard Intermediate-Term Bond Index Fund | 4.13% | 3.61% | 3.71% | 2.72% | 2.30% | 2.99% | 2.85% | 2.66% | 2.78% | 2.66% | 2.98% | 3.02% |
VUSTX Vanguard Long-Term Treasury Fund Investor Shares | 4.47% | 4.29% | 4.03% | 3.33% | 2.93% | 4.21% | 10.38% | 2.82% | 2.82% | 2.64% | 5.27% | 5.52% |
Frequently Asked Questions
VUSTX and VBIIX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VUSTX has higher volatility (2.59%) compared to VBIIX (1.40%). In terms of maximum drawdown, VUSTX dropped -46.37% vs VBIIX's -19.32%.
VBIIX currently has the higher Sharpe Ratio (1.01 vs 0.46), 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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