VWOB vs. VBILX

Last updated Jun 14, 2026

VWOB (Vanguard Emerging Markets Government Bond ETF) and VBILX (Vanguard Intermediate-Term Bond Index Fund Admiral Shares) are both funds - VWOB is a Emerging Markets Bonds fund tracking the Bloomberg USD Emerging Markets Government RIC Capped Index, while VBILX is a Intermediate Core Bond fund tracking the Bloomberg U.S. 5-10 Year Government/Credit Float Adjusted Index. Both are passively managed. Over the past 10 years, VWOB returned 3.62%/yr vs 1.85%/yr for VBILX. At a 0.47 correlation, their price movements are largely independent. VWOB charges 0.15%/yr vs 0.06%/yr for VBILX.

Performance

VWOB vs. VBILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Emerging Markets Government Bond ETF (VWOB) and Vanguard Intermediate-Term Bond Index Fund Admiral Shares (VBILX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VWOB achieves a 2.08% return, which is significantly higher than VBILX's -0.14% return. Over the past 10 years, VWOB has outperformed VBILX with an annualized return of 3.62%, while VBILX has yielded a comparatively lower 1.85% annualized return.

VWOB

• 1D: 0.16%
• 1M: 1.34%
• YTD: 2.08%
• 6M: 2.45%
• 1Y: 10.76%
• 3Y*: 9.31%
• 5Y*: 2.01%
• 10Y*: 3.62%

VBILX

• 1D: 0.58%
• 1M: 0.37%
• YTD: -0.14%
• 6M: 0.40%
• 1Y: 4.66%
• 3Y*: 4.44%
• 5Y*: 0.07%
• 10Y*: 1.85%

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

VWOB vs. VBILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VWOB Vanguard Emerging Markets Government Bond ETF	2.08%	13.49%	5.20%	10.68%	-17.39%	-1.80%	5.65%	14.46%	-2.92%	8.41%
VBILX Vanguard Intermediate-Term Bond Index Fund Admiral Shares	-0.14%	8.57%	1.54%	6.09%	-13.59%	-2.36%	9.82%	10.20%	-0.15%	3.86%

Correlation

The correlation between VWOB and VBILX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013	0.47

Over the past year, VWOB and VBILX have become more correlated (0.73) than their long-term average of 0.47, meaning their price movements have been converging.

Return for Risk

VWOB vs. VBILX — Risk / Return Rank

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

VWOB

VWOB Risk / Return Rank: 66
VWOB Sharpe Ratio Rank: 69
VWOB Sortino Ratio Rank: 74
VWOB Omega Ratio Rank: 74
VWOB Calmar Ratio Rank: 52
VWOB Martin Ratio Rank: 62

VBILX

VBILX Risk / Return Rank: 24
VBILX Sharpe Ratio Rank: 26
VBILX Sortino Ratio Rank: 28
VBILX Omega Ratio Rank: 23
VBILX Calmar Ratio Rank: 22
VBILX Martin Ratio Rank: 19

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.

VWOB vs. VBILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Government Bond ETF (VWOB) and Vanguard Intermediate-Term Bond Index Fund Admiral Shares (VBILX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	VWOB	VBILX	Difference
Sharpe ratio: Return per unit of total volatility	1.96	1.14	+0.82
Sortino ratio: Return per unit of downside risk	2.85	1.73	+1.12
Omega ratio: Gain probability vs. loss probability	1.38	1.20	+0.18
Calmar ratio: Return relative to maximum drawdown	2.29	1.37	+0.93
Martin ratio: Return relative to average drawdown	9.66	3.93	+5.73

VWOB vs. VBILX - Sharpe Ratio Comparison

The current VWOB Sharpe Ratio is 1.96, which is higher than the VBILX Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of VWOB and VBILX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VWOB vs. VBILX - Drawdown Comparison

The maximum VWOB drawdown since its inception was -26.98%, which is greater than VBILX's maximum drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for VWOB and VBILX.

Drawdown Indicators

	VWOB	VBILX	Difference
Max Drawdown Largest peak-to-trough decline	-26.98%	-19.26%	-7.72%
Max Drawdown (1Y) Largest decline over 1 year	-4.48%	-3.43%	-1.05%
Max Drawdown (3Y) Largest decline over 3 years	-7.71%	-6.05%	-1.66%
Max Drawdown (5Y) Largest decline over 5 years	-26.98%	-19.15%	-7.83%
Max Drawdown (10Y) Largest decline over 10 years	-26.98%	-19.26%	-7.72%
Current Drawdown Current decline from peak	0.00%	-1.93%	+1.93%
Average Drawdown Average peak-to-trough decline	-4.79%	-3.16%	-1.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.06%	1.19%	-0.13%

Volatility

VWOB vs. VBILX - Volatility Comparison

Vanguard Emerging Markets Government Bond ETF (VWOB) has a higher volatility of 1.90% compared to Vanguard Intermediate-Term Bond Index Fund Admiral Shares (VBILX) at 1.49%. This indicates that VWOB's price experiences larger fluctuations and is considered to be riskier than VBILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWOB	VBILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.90%	1.49%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	4.31%	3.07%	+1.24%
Volatility (1Y) Calculated over the trailing 1-year period	5.25%	4.12%	+1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.19%	6.39%	+2.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.35%	5.37%	+3.98%

VWOB vs. VBILX - Expense Ratio Comparison

VWOB has a 0.15% expense ratio, which is higher than VBILX's 0.06% 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

VWOB vs. VBILX - Dividend Comparison

VWOB's dividend yield for the trailing twelve months is around 5.82%, more than VBILX's 4.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VBILX Vanguard Intermediate-Term Bond Index Fund Admiral Shares	4.22%	4.01%	3.80%	3.09%	1.99%	3.39%	2.94%	2.73%	2.87%	2.73%	3.06%	3.09%
VWOB Vanguard Emerging Markets Government Bond ETF	5.82%	5.92%	6.08%	5.50%	5.30%	4.04%	4.18%	4.58%	4.52%	4.61%	4.71%	4.93%

Frequently Asked Questions

Can I hold both VWOB and VBILX in my portfolio?

VWOB and VBILX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VWOB or VBILX?

VWOB has higher volatility (1.90%) compared to VBILX (1.49%). In terms of maximum drawdown, VWOB dropped -26.98% vs VBILX's -19.26%.

Which has better risk-adjusted returns?

VWOB currently has the higher Sharpe Ratio (1.96 vs 1.14), 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.