VVIAX vs. VSBSX
VVIAX (Vanguard Value Index Fund Admiral Shares) and VSBSX (Vanguard Short-Term Treasury Index Fund Admiral Shares) are both mutual funds - VVIAX is a Large Cap Value Equities fund tracking the CRSP US Large Cap Value Index, while VSBSX is a Government Bonds fund managed by Vanguard. Over the past 10 years, VVIAX returned 12.48%/yr vs 1.75%/yr for VSBSX. At a correlation of -0.17, they often move in opposite directions. VVIAX charges 0.05%/yr vs 0.07%/yr for VSBSX.
Performance
VVIAX vs. VSBSX - Performance Comparison
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Returns By Period
In the year-to-date period, VVIAX achieves a 13.13% return, which is significantly higher than VSBSX's 0.51% return. Over the past 10 years, VVIAX has outperformed VSBSX with an annualized return of 12.48%, while VSBSX has yielded a comparatively lower 1.75% annualized return.
VVIAX
- 1D
- 0.82%
- 1M
- 3.30%
- YTD
- 13.13%
- 6M
- 14.08%
- 1Y
- 28.07%
- 3Y*
- 18.67%
- 5Y*
- 11.39%
- 10Y*
- 12.48%
VSBSX
- 1D
- 0.05%
- 1M
- -0.05%
- YTD
- 0.51%
- 6M
- 0.88%
- 1Y
- 3.35%
- 3Y*
- 4.25%
- 5Y*
- 1.87%
- 10Y*
- 1.75%
VVIAX vs. VSBSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VVIAX Vanguard Value Index Fund Admiral Shares | 13.13% | 15.27% | 16.00% | 9.22% | -2.07% | 26.51% | 2.29% | 25.81% | -5.45% | 17.13% |
VSBSX Vanguard Short-Term Treasury Index Fund Admiral Shares | 0.51% | 5.08% | 4.39% | 4.23% | -3.87% | -0.69% | 3.09% | 3.51% | 1.52% | 0.35% |
Correlation
The correlation between VVIAX and VSBSX is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | -0.17 |
The correlation between VVIAX and VSBSX shifts across timeframes, from -0.17 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VVIAX vs. VSBSX — Risk / Return Rank
VVIAX
VSBSX
VVIAX vs. VSBSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Value Index Fund Admiral Shares (VVIAX) and Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX). 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.
| VVIAX | VSBSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.55 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 4.39 | 3.96 | +0.43 |
| Martin ratioReturn relative to average drawdown | 16.56 | 16.32 | +0.25 |
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
| VVIAX | VSBSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.77 | 2.61 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 0.96 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 1.14 | -0.40 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 1.07 | -0.65 |
Drawdowns
VVIAX vs. VSBSX - Drawdown Comparison
The maximum VVIAX drawdown since its inception was -59.32%, which is greater than VSBSX's maximum drawdown of -5.77%. Use the drawdown chart below to compare losses from any high point for VVIAX and VSBSX.
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Drawdown Indicators
| VVIAX | VSBSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.32% | -5.77% | -53.55% |
Max Drawdown (1Y)Largest decline over 1 year | -6.36% | -0.84% | -5.52% |
Max Drawdown (3Y)Largest decline over 3 years | -14.39% | -0.84% | -13.55% |
Max Drawdown (5Y)Largest decline over 5 years | -17.14% | -5.77% | -11.37% |
Max Drawdown (10Y)Largest decline over 10 years | -36.80% | -5.77% | -31.03% |
Current DrawdownCurrent decline from peak | 0.00% | -0.21% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -9.61% | -0.59% | -9.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 0.20% | +1.48% |
Volatility
VVIAX vs. VSBSX - Volatility Comparison
Vanguard Value Index Fund Admiral Shares (VVIAX) has a higher volatility of 2.54% compared to Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX) at 0.36%. This indicates that VVIAX's price experiences larger fluctuations and is considered to be riskier than VSBSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VVIAX | VSBSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.54% | 0.36% | +2.18% |
Volatility (6M)Calculated over the trailing 6-month period | 7.62% | 0.87% | +6.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.10% | 1.28% | +8.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.91% | 1.95% | +11.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.74% | 1.54% | +15.20% |
VVIAX vs. VSBSX - Expense Ratio Comparison
VVIAX has a 0.05% expense ratio, which is lower than VSBSX's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VVIAX vs. VSBSX - Dividend Comparison
VVIAX's dividend yield for the trailing twelve months is around 1.84%, less than VSBSX's 3.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSBSX Vanguard Short-Term Treasury Index Fund Admiral Shares | 3.84% | 3.98% | 4.50% | 3.29% | 1.12% | 0.63% | 1.72% | 2.26% | 1.80% | 1.10% | 0.76% | 0.71% |
VVIAX Vanguard Value Index Fund Admiral Shares | 1.84% | 2.04% | 2.30% | 2.45% | 2.51% | 2.14% | 2.55% | 2.49% | 2.72% | 2.29% | 2.45% | 2.60% |
Frequently Asked Questions
VVIAX and VSBSX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VVIAX has higher volatility (2.54%) compared to VSBSX (0.36%). In terms of maximum drawdown, VVIAX dropped -59.32% vs VSBSX's -5.77%.
VVIAX currently has the higher Sharpe Ratio (2.77 vs 2.61), 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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