VWESX vs. VBTIX
VWESX (Vanguard Long-Term Investment-Grade Fund Investor Shares) and VBTIX (Vanguard Total Bond Market Index Fund Institutional Shares) are both Total Bond Market funds from Vanguard. Over the past 10 years, VWESX returned 1.59%/yr vs 1.56%/yr for VBTIX. Their correlation of 0.91 suggests significant overlap in exposure. VWESX charges 0.22%/yr vs 0.04%/yr for VBTIX.
Performance
VWESX vs. VBTIX - Performance Comparison
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Returns By Period
In the year-to-date period, VWESX achieves a 0.41% return, which is significantly higher than VBTIX's 0.22% return. Both investments have delivered pretty close results over the past 10 years, with VWESX having a 1.59% annualized return and VBTIX not far behind at 1.56%.
VWESX
- 1D
- -0.40%
- 1M
- 0.70%
- YTD
- 0.41%
- 6M
- -0.21%
- 1Y
- 5.98%
- 3Y*
- 3.36%
- 5Y*
- -2.37%
- 10Y*
- 1.59%
VBTIX
- 1D
- -0.21%
- 1M
- 0.14%
- YTD
- 0.22%
- 6M
- 0.35%
- 1Y
- 4.48%
- 3Y*
- 3.99%
- 5Y*
- 0.11%
- 10Y*
- 1.56%
VWESX vs. VBTIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWESX Vanguard Long-Term Investment-Grade Fund Investor Shares | 0.41% | 7.20% | -2.75% | 9.30% | -25.62% | -3.14% | 15.39% | 20.44% | -6.26% | 11.96% |
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | 0.22% | 7.18% | 1.27% | 5.75% | -13.15% | -1.95% | 7.75% | 8.74% | -0.24% | 3.56% |
Correlation
The correlation between VWESX and VBTIX is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 1995 | 0.91 |
The correlation between VWESX and VBTIX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
VWESX vs. VBTIX — Risk / Return Rank
VWESX
VBTIX
VWESX vs. VBTIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Investment-Grade Fund Investor Shares (VWESX) and Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX). 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.
| VWESX | VBTIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.23 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.42 | 1.79 | -0.36 |
| Martin ratioReturn relative to average drawdown | 3.61 | 5.35 | -1.74 |
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
| VWESX | VBTIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 1.30 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.20 | 0.02 | -0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.15 | 0.31 | -0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.94 | -0.39 |
Drawdowns
VWESX vs. VBTIX - Drawdown Comparison
The maximum VWESX drawdown since its inception was -36.34%, which is greater than VBTIX's maximum drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for VWESX and VBTIX.
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Drawdown Indicators
| VWESX | VBTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.34% | -18.90% | -17.44% |
Max Drawdown (1Y)Largest decline over 1 year | -5.12% | -2.89% | -2.23% |
Max Drawdown (3Y)Largest decline over 3 years | -13.36% | -5.99% | -7.37% |
Max Drawdown (5Y)Largest decline over 5 years | -34.48% | -18.13% | -16.35% |
Max Drawdown (10Y)Largest decline over 10 years | -36.34% | -18.90% | -17.44% |
Current DrawdownCurrent decline from peak | -19.16% | -2.45% | -16.71% |
Average DrawdownAverage peak-to-trough decline | -6.74% | -2.32% | -4.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 0.96% | +1.06% |
Volatility
VWESX vs. VBTIX - Volatility Comparison
Vanguard Long-Term Investment-Grade Fund Investor Shares (VWESX) has a higher volatility of 2.50% compared to Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) at 1.33%. This indicates that VWESX's price experiences larger fluctuations and is considered to be riskier than VBTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWESX | VBTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 1.33% | +1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 5.54% | 2.78% | +2.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.86% | 3.96% | +3.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.10% | 6.02% | +6.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.85% | 4.98% | +5.87% |
VWESX vs. VBTIX - Expense Ratio Comparison
VWESX has a 0.22% expense ratio, which is higher than VBTIX'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
VWESX vs. VBTIX - Dividend Comparison
VWESX's dividend yield for the trailing twelve months is around 5.07%, more than VBTIX's 4.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | 4.00% | 3.88% | 3.69% | 3.12% | 2.61% | 1.81% | 2.41% | 2.75% | 2.58% | 2.56% | 2.54% | 2.84% |
VWESX Vanguard Long-Term Investment-Grade Fund Investor Shares | 5.07% | 4.95% | 5.06% | 4.55% | 4.43% | 4.51% | 6.89% | 5.01% | 4.31% | 5.50% | 6.14% | 7.38% |
Frequently Asked Questions
With a correlation of 0.92, VWESX and VBTIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VWESX has higher volatility (2.50%) compared to VBTIX (1.33%). In terms of maximum drawdown, VWESX dropped -36.34% vs VBTIX's -18.90%.
VBTIX currently has the higher Sharpe Ratio (1.30 vs 0.93), 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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