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| | {{Possible article|edit=yes}} | | {{Possible article|edit=yes}} |
| | =Introduction= | | =Introduction= |
| − | In investing, we make personal choices about how much [[Risk and return: an introduction|risk]] we are willing to take if we think we can get higher return in exchange. An important element of risk is volatility, which is often measured in terms of standard deviation (σ). It is not, however, directly relevant to questions like "how much risk I am taking if I put money I will need for a near into a bond fund instead of a [[money market]] fund?" | + | In investing, we make personal choices about how much [[Risk and return: an introduction|risk]] we are willing to take if we think we can get higher return in exchange. An important element of risk is volatility, which is often measured in terms of standard deviation (σ). It is not, however, directly relevant to questions like "how much risk I am taking if I put money I will need for a near term objective into a bond fund instead of a [[money market]] fund?"<ref group="Note"> John Bogle, in his 1994 classic, ''Bogle on Mutual Funds'', suggested using a low-cost short-term treasury bond fund, with its government backed credit rating, as a prudent substitute for a money market fund for investment reserves distinct from savings and transaction account balances. (p.132 in the text)</ref> |
| | | | |
| − | Here, we calculate some other measures of risk by calculating what would have happened to an investment of $10,000, held for short periods of time, in a [[mutual fund]] or [[exchange-traded fund]] (ETF). You might do this in hope of making more than you would have made in a money market mutual fund, and accepting the possibility of sometimes making less. The possibility of making less is depicted in two ways: | + | Here, we calculate some other measures of risk by calculating what would have happened to an investment of $10,000, held for short periods of time, in a [[mutual fund]] or [[exchange-traded fund]] (ETF). You might do this in hope of making more than you would have made in a money market mutual fund, and accepting the possibility of sometimes making less.<ref group="Note"> For funds and ETFs, calculations are based on data made publicly available free of charge from [https://www.morningstar.com/ Morningstar]. Data for the CPI is CPI-U, "CPI for All Urban Consumers," not seasonally adjusted, obtained from the [https://www.bls.gov/ Bureau of Labor Statistics].</ref> The possibility of making less is depicted in two ways: |
| | | | |
| | 1) What ''percentage'' of the time would you have made less than in a money market fund? We chose VMMXX, the Vanguard Prime Money Market Fund, because it is one of the oldest money market fund and gave us a long period of comparison. We also show what percentage of the time you would have actually lost money--ended up with less than $10,000 at the end of the time period--and what percentage of time you would have failed to keep up with inflation. | | 1) What ''percentage'' of the time would you have made less than in a money market fund? We chose VMMXX, the Vanguard Prime Money Market Fund, because it is one of the oldest money market fund and gave us a long period of comparison. We also show what percentage of the time you would have actually lost money--ended up with less than $10,000 at the end of the time period--and what percentage of time you would have failed to keep up with inflation. |
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| | ==Notes== | | ==Notes== |
| − | For funds and ETFs, calculations are based on data made publicly available free of charge from [https://www.morningstar.com/ Morningstar]. Data for the CPI is CPI-U, "CPI for All Urban Consumers," not seasonally adjusted, obtained from the [https://www.bls.gov/ Bureau of Labor Statistics].
| + | <references group="Note"/> |
| | | | |
| | ==Notes for editors== | | ==Notes for editors== |
Revision as of 13:54, 5 November 2019
| This user subpage is a work in progress article and currently isn't part of the Bogleheads wiki. It may or may not be incorporated into an article in the future. It should not necessarily be considered factual nor accurate. Please feel free to edit this page, or leave comments on its talk page. |
Introduction
In investing, we make personal choices about how much risk we are willing to take if we think we can get higher return in exchange. An important element of risk is volatility, which is often measured in terms of standard deviation (σ). It is not, however, directly relevant to questions like "how much risk I am taking if I put money I will need for a near term objective into a bond fund instead of a money market fund?"[Note 1]
Here, we calculate some other measures of risk by calculating what would have happened to an investment of $10,000, held for short periods of time, in a mutual fund or exchange-traded fund (ETF). You might do this in hope of making more than you would have made in a money market mutual fund, and accepting the possibility of sometimes making less.[Note 2] The possibility of making less is depicted in two ways:
1) What percentage of the time would you have made less than in a money market fund? We chose VMMXX, the Vanguard Prime Money Market Fund, because it is one of the oldest money market fund and gave us a long period of comparison. We also show what percentage of the time you would have actually lost money--ended up with less than $10,000 at the end of the time period--and what percentage of time you would have failed to keep up with inflation.
2) It's important to know not just when a fund or ETF underperformed a money market mutual fund, but by how much. In the case of short-term funds, the losses, when they did occur, were so small that some might call them negligible To quantify this, we present two numbers. One is the average loss that occurred in those periods in which losses did occur; and the other is the largest loss that ever occurred within the body of data that was used.
Notice that a high probability of underperforming may not be important at all. If two investments have the same return and volatility, but just fluctuate randomly with respect to each other, you would expect each of them to underperform the other about 50% of the time.
We have chosen to present data going back for as far as Morningstar has data. As a result, there are two caveats. First, the data range shown for each fund is different and results for different funds cannot be directly compared. For example, the Vanguard Short-Term Treasury Fund, VFISX, beat VMMXX by an average of $117.10 while the Vanguard Short-Term Treasury Index fund, VGSH, only beat it by $33.17. But this is almost entirely due to VGSH's inception in 2009 versus VFISX's inception in 1991. If we restrict our view of VFISX to the same years as VGSH, the benefit for VFISX was only $44.05. Second, this underlines the problem with all historical data, which is that the present time--and thus the short-term future--may be quite different from the historical averages.
Data
Testbed
This is an example listing for a single fund. Please use this section to make changes to illustrate your ideas for improvement.
VARIX: Vanguard Total Gastropod Index
VARIX: Vanguard Total Gastropod Index
6/1992 - 6/2019; 325 months total
(limited by range of available data for VARIX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
314
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$1094.91
|
| Average CAGR (annualized rate of return) of those 314 12-month periods
|
10.95%
|
| Standard deviation (σ) of single-month returns, annualized)
|
14.53%
|
Vanguard's risk potential classification
Risk level 4
(moderate to aggressive)
|
Vanguard funds classified as moderate to aggressive are broadly diversified but are subject to wide fluctuations in share prices because they hold virtually all of their assets in common stocks. These funds may be appropriate for investors who have a long-term investment horizon (10 years or longer).
|
VARIX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VARIX made less than VMMXX
|
71/314 = 22.6%
|
| Average underperformance versus VMMXX over those 71 periods
|
-$1613.55
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4551.13
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$832.52
|
| Link to Morningstar chart of worst period
|
VARIX vs VMMXX, 3/2008 - 2/2009
|
VARIX Dollars
| Number of periods in which VARIX lost money
|
61/314 = 19.4%
|
| Average loss over those 61 periods
|
-$1540.89
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4317.88
|
| Average return, averaged over 12-month periods
|
+$1094.91
|
| Link to Morningstar chart of worst period
|
VARIX 3/2008 - 2/2009
|
VARIX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VARIX failed to keep up with inflation (had negative real return)
|
71/314 = 22.6%
|
| Average real loss over those 71 periods
|
-$1515.22
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4341.50
|
| Average real return, averaged over 12-month periods
|
+$870.14
|
| Link to Morningstar chart of worst period
|
VARIX 3/2008 - 2/2009
|
Money market
VMFXX: Vanguard Federal Money Market
VMFXX: Vanguard Federal Money Market
9/1981 - 6/2019; 454 months total
(limited by range of available data for VMFXX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
443
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$406.68
|
| Average CAGR (annualized rate of return) of those 443 12-month periods
|
4.07%
|
| Standard deviation (σ) of single-month returns, annualized)
|
0.94%
|
Vanguard's risk potential classification
Risk level 1
(conservative)
|
Vanguard funds are classified as conservative if their share prices are expected to remain stable or to fluctuate only slightly. Such funds may be appropriate for the short-term reserves portion of a long-term investment portfolio or for investors with short-term investment horizons (3 years or less).
|
VMFXX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VMFXX made less than VMMXX
|
420/443 = 94.8%
|
| Average underperformance versus VMMXX over those 420 periods
|
-$14.83
|
| Worst single 12-month performance, 9/1981 - 8/1982
|
-$120.91
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
-$13.91
|
| Link to Morningstar chart of worst period
|
VMFXX vs VMMXX, 9/1981 - 8/1982
|
VMFXX Dollars
| Number of periods in which VMFXX lost money
|
0/443 = 0.0%
|
| Worst single 12-month performance, 11/2011 - 10/2012
|
+$0.93
|
| Average return, averaged over 12-month periods
|
+$406.68
|
| Link to Morningstar chart of worst period
|
VMFXX 11/2011 - 10/2012
|
VMFXX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VMFXX failed to keep up with inflation (had negative real return)
|
153/443 = 34.5%
|
| Average real loss over those 153 periods
|
-$150.62
|
| Worst single 12-month performance, 10/2010 - 9/2011
|
-$385.48
|
| Average real return, averaged over 12-month periods
|
+$135.44
|
| Link to Morningstar chart of worst period
|
VMFXX 10/2010 - 9/2011
|
BTFXX: BlackRock Liquidity
BTFXX: BlackRock Liquidity
7/1989 - 6/2019; 360 months total
(limited by range of available data for BTFXX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
349
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$214.36
|
| Average CAGR (annualized rate of return) of those 349 12-month periods
|
2.14%
|
| Standard deviation (σ) of single-month returns, annualized)
|
0.73%
|
BTFXX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which BTFXX made less than VMMXX
|
326/349 = 93.4%
|
| Average underperformance versus VMMXX over those 326 periods
|
-$91.21
|
| Worst single 12-month performance, 9/2006 - 8/2007
|
-$523.01
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
-$84.14
|
| Link to Morningstar chart of worst period
|
BTFXX vs VMMXX, 9/2006 - 8/2007
|
BTFXX Dollars
| Number of periods in which BTFXX lost money
|
143/349 = 41.0%
|
| Average loss over those 143 periods
|
$0.00
|
| Worst single 12-month performance, 12/2014 - 11/2015
|
$0.00
|
| Average return, averaged over 12-month periods
|
+$214.36
|
| Link to Morningstar chart of worst period
|
BTFXX 12/2014 - 11/2015
|
BTFXX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which BTFXX failed to keep up with inflation (had negative real return)
|
190/349 = 54.4%
|
| Average real loss over those 190 periods
|
-$209.51
|
| Worst single 12-month performance, 8/2007 - 7/2008
|
-$560.01
|
| Average real return, averaged over 12-month periods
|
-$28.02
|
| Link to Morningstar chart of worst period
|
BTFXX 8/2007 - 7/2008
|
VUSXX: Vanguard Treasury Money Market
VUSXX: Vanguard Treasury Money Market
2/1993 - 6/2019; 317 months total
(limited by range of available data for VUSXX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
306
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$248.30
|
| Average CAGR (annualized rate of return) of those 306 12-month periods
|
2.48%
|
| Standard deviation (σ) of single-month returns, annualized)
|
0.61%
|
Vanguard's risk potential classification
Risk level 1
(conservative)
|
Vanguard funds are classified as conservative if their share prices are expected to remain stable or to fluctuate only slightly. Such funds may be appropriate for the short-term reserves portion of a long-term investment portfolio or for investors with short-term investment horizons (3 years or less).
|
VUSXX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VUSXX made less than VMMXX
|
254/306 = 83.0%
|
| Average underperformance versus VMMXX over those 254 periods
|
-$16.58
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$70.89
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
-$12.86
|
| Link to Morningstar chart of worst period
|
VUSXX vs VMMXX, 3/2008 - 2/2009
|
VUSXX Dollars
| Number of periods in which VUSXX lost money
|
0/306 = 0.0%
|
| Worst single 12-month performance, 9/2014 - 8/2015
|
+$0.93
|
| Average return, averaged over 12-month periods
|
+$248.30
|
| Link to Morningstar chart of worst period
|
VUSXX 9/2014 - 8/2015
|
VUSXX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VUSXX failed to keep up with inflation (had negative real return)
|
154/306 = 50.3%
|
| Average real loss over those 154 periods
|
-$150.49
|
| Worst single 12-month performance, 10/2010 - 9/2011
|
-$385.31
|
| Average real return, averaged over 12-month periods
|
+$25.05
|
| Link to Morningstar chart of worst period
|
VUSXX 10/2010 - 9/2011
|
VMMXX: Vanguard Prime Money Market
VMMXX: Vanguard Prime Money Market
8/1975 - 6/2019; 527 months total
(limited by range of available data for VMMXX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
516
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$500.56
|
| Average CAGR (annualized rate of return) of those 516 12-month periods
|
5.01%
|
| Standard deviation (σ) of single-month returns, annualized)
|
1.11%
|
Vanguard's risk potential classification
Risk level 1
(conservative)
|
Vanguard funds are classified as conservative if their share prices are expected to remain stable or to fluctuate only slightly. Such funds may be appropriate for the short-term reserves portion of a long-term investment portfolio or for investors with short-term investment horizons (3 years or less).
|
VMMXX Dollars
| Number of periods in which VMMXX lost money
|
0/516 = 0.0%
|
| Worst single 12-month performance, 4/2014 - 3/2015
|
+$0.96
|
| Average return, averaged over 12-month periods
|
+$500.56
|
| Link to Morningstar chart of worst period
|
VMMXX 4/2014 - 3/2015
|
VMMXX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VMMXX failed to keep up with inflation (had negative real return)
|
195/516 = 37.8%
|
| Average real loss over those 195 periods
|
-$153.96
|
| Worst single 12-month performance, 10/2010 - 9/2011
|
-$381.34
|
| Average real return, averaged over 12-month periods
|
+$137.38
|
| Link to Morningstar chart of worst period
|
VMMXX 10/2010 - 9/2011
|
TSCXX: T. Rowe Price Cash Reserves
TSCXX: T. Rowe Price Cash Reserves
12/1993 - 6/2019; 307 months total
(limited by range of available data for TSCXX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
296
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$247.65
|
| Average CAGR (annualized rate of return) of those 296 12-month periods
|
2.48%
|
| Standard deviation (σ) of single-month returns, annualized)
|
0.64%
|
TSCXX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which TSCXX made less than VMMXX
|
275/296 = 92.9%
|
| Average underperformance versus VMMXX over those 275 periods
|
-$12.49
|
| Worst single 12-month performance, 3/2016 - 2/2017
|
-$37.36
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
-$11.44
|
| Link to Morningstar chart of worst period
|
TSCXX vs VMMXX, 3/2016 - 2/2017
|
TSCXX Dollars
| Number of periods in which TSCXX lost money
|
0/296 = 0.0%
|
| Worst single 12-month performance, 10/2009 - 9/2010
|
+$0.83
|
| Average return, averaged over 12-month periods
|
+$247.65
|
| Link to Morningstar chart of worst period
|
TSCXX 10/2009 - 9/2010
|
TSCXX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which TSCXX failed to keep up with inflation (had negative real return)
|
155/296 = 52.4%
|
| Average real loss over those 155 periods
|
-$154.59
|
| Worst single 12-month performance, 10/2010 - 9/2011
|
-$385.84
|
| Average real return, averaged over 12-month periods
|
+$25.62
|
| Link to Morningstar chart of worst period
|
TSCXX 10/2010 - 9/2011
|
SWVXX: Schwab Value Advantage Money
SWVXX: Schwab Value Advantage Money
6/1992 - 6/2019; 325 months total
(limited by range of available data for SWVXX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
314
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$254.53
|
| Average CAGR (annualized rate of return) of those 314 12-month periods
|
2.55%
|
| Standard deviation (σ) of single-month returns, annualized)
|
0.63%
|
SWVXX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which SWVXX made less than VMMXX
|
260/314 = 82.8%
|
| Average underperformance versus VMMXX over those 260 periods
|
-$9.76
|
| Worst single 12-month performance, 10/2008 - 9/2009
|
-$47.27
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
-$7.85
|
| Link to Morningstar chart of worst period
|
SWVXX vs VMMXX, 10/2008 - 9/2009
|
SWVXX Dollars
| Number of periods in which SWVXX lost money
|
1/314 = 0.3%
|
| Average loss over those 1 periods
|
$0.00
|
| Worst single 12-month performance, 8/2009 - 7/2010
|
-$0.05
|
| Average return, averaged over 12-month periods
|
+$254.53
|
| Link to Morningstar chart of worst period
|
SWVXX 8/2009 - 7/2010
|
SWVXX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which SWVXX failed to keep up with inflation (had negative real return)
|
155/314 = 49.4%
|
| Average real loss over those 155 periods
|
-$151.71
|
| Worst single 12-month performance, 10/2010 - 9/2011
|
-$385.83
|
| Average real return, averaged over 12-month periods
|
+$29.76
|
| Link to Morningstar chart of worst period
|
SWVXX 10/2010 - 9/2011
|
SWRXX: Schwab Investor Money
SWRXX: Schwab Investor Money
5/1994 - 6/2019; 302 months total
(limited by range of available data for SWRXX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
291
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$230.21
|
| Average CAGR (annualized rate of return) of those 291 12-month periods
|
2.30%
|
| Standard deviation (σ) of single-month returns, annualized)
|
0.62%
|
SWRXX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which SWRXX made less than VMMXX
|
283/291 = 97.3%
|
| Average underperformance versus VMMXX over those 283 periods
|
-$26.65
|
| Worst single 12-month performance, 10/2008 - 9/2009
|
-$59.07
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
-$25.92
|
| Link to Morningstar chart of worst period
|
SWRXX vs VMMXX, 10/2008 - 9/2009
|
SWRXX Dollars
| Number of periods in which SWRXX lost money
|
0/291 = 0.0%
|
| Worst single 12-month performance, 4/2015 - 3/2016
|
+$0.99
|
| Average return, averaged over 12-month periods
|
+$230.21
|
| Link to Morningstar chart of worst period
|
SWRXX 4/2015 - 3/2016
|
SWRXX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which SWRXX failed to keep up with inflation (had negative real return)
|
155/291 = 53.3%
|
| Average real loss over those 155 periods
|
-$161.34
|
| Worst single 12-month performance, 10/2010 - 9/2011
|
-$385.85
|
| Average real return, averaged over 12-month periods
|
+$9.13
|
| Link to Morningstar chart of worst period
|
SWRXX 10/2010 - 9/2011
|
SWPXX: Schwab Government Money Market Portfolio™
SWPXX: Schwab Government Money Market Portfolio™
7/1994 - 6/2019; 300 months total
(limited by range of available data for SWPXX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
289
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$226.07
|
| Average CAGR (annualized rate of return) of those 289 12-month periods
|
2.26%
|
| Standard deviation (σ) of single-month returns, annualized)
|
0.63%
|
SWPXX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which SWPXX made less than VMMXX
|
281/289 = 97.2%
|
| Average underperformance versus VMMXX over those 281 periods
|
-$29.11
|
| Worst single 12-month performance, 6/2008 - 5/2009
|
-$77.94
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
-$28.30
|
| Link to Morningstar chart of worst period
|
SWPXX vs VMMXX, 6/2008 - 5/2009
|
SWPXX Dollars
| Number of periods in which SWPXX lost money
|
0/289 = 0.0%
|
| Worst single 12-month performance, 12/2011 - 11/2012
|
+$0.94
|
| Average return, averaged over 12-month periods
|
+$226.07
|
| Link to Morningstar chart of worst period
|
SWPXX 12/2011 - 11/2012
|
SWPXX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which SWPXX failed to keep up with inflation (had negative real return)
|
159/289 = 55.0%
|
| Average real loss over those 159 periods
|
-$159.09
|
| Worst single 12-month performance, 10/2010 - 9/2011
|
-$385.84
|
| Average real return, averaged over 12-month periods
|
+$5.61
|
| Link to Morningstar chart of worst period
|
SWPXX 10/2010 - 9/2011
|
Very short-term
SHY: iShares 1-3 Year Treasury Bond
SHY: iShares 1-3 Year Treasury Bond
9/2002 - 6/2019; 202 months total
(limited by range of available data for SHY)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
191
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$188.25
|
| Average CAGR (annualized rate of return) of those 191 12-month periods
|
1.88%
|
| Standard deviation (σ) of single-month returns, annualized)
|
1.30%
|
SHY compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which SHY made less than VMMXX
|
60/191 = 31.4%
|
| Average underperformance versus VMMXX over those 60 periods
|
-$98.43
|
| Worst single 12-month performance, 7/2005 - 6/2006
|
-$237.14
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$49.79
|
| Link to Morningstar chart of worst period
|
SHY vs VMMXX, 7/2005 - 6/2006
|
SHY Dollars
| Number of periods in which SHY lost money
|
12/191 = 6.3%
|
| Average loss over those 12 periods
|
-$24.41
|
| Worst single 12-month performance, 4/2004 - 3/2005
|
-$52.71
|
| Average return, averaged over 12-month periods
|
+$188.25
|
| Link to Morningstar chart of worst period
|
SHY 4/2004 - 3/2005
|
SHY Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which SHY failed to keep up with inflation (had negative real return)
|
120/191 = 62.8%
|
| Average real loss over those 120 periods
|
-$159.88
|
| Worst single 12-month performance, 10/2004 - 9/2005
|
-$388.31
|
| Average real return, averaged over 12-month periods
|
-$20.89
|
| Link to Morningstar chart of worst period
|
SHY 10/2004 - 9/2005
|
SHV: iShares Short Treasury Bond
SHV: iShares Short Treasury Bond
3/2007 - 6/2019; 148 months total
(limited by range of available data for SHV)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
137
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$71.12
|
| Average CAGR (annualized rate of return) of those 137 12-month periods
|
0.71%
|
| Standard deviation (σ) of single-month returns, annualized)
|
0.46%
|
SHV compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which SHV made less than VMMXX
|
77/137 = 56.2%
|
| Average underperformance versus VMMXX over those 77 periods
|
-$17.41
|
| Worst single 12-month performance, 4/2008 - 3/2009
|
-$55.21
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
-$7.86
|
| Link to Morningstar chart of worst period
|
SHV vs VMMXX, 4/2008 - 3/2009
|
SHV Dollars
| Number of periods in which SHV lost money
|
6/137 = 4.4%
|
| Average loss over those 6 periods
|
-$0.68
|
| Worst single 12-month performance, 9/2011 - 8/2012
|
-$1.49
|
| Average return, averaged over 12-month periods
|
+$71.12
|
| Link to Morningstar chart of worst period
|
SHV 9/2011 - 8/2012
|
SHV Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which SHV failed to keep up with inflation (had negative real return)
|
109/137 = 79.6%
|
| Average real loss over those 109 periods
|
-$160.64
|
| Worst single 12-month performance, 10/2010 - 9/2011
|
-$376.90
|
| Average real return, averaged over 12-month periods
|
-$103.46
|
| Link to Morningstar chart of worst period
|
SHV 10/2010 - 9/2011
|
MINT: PIMCO Enhanced Short Maturity Active
MINT: PIMCO Enhanced Short Maturity Active
1/2010 - 6/2019; 114 months total
(limited by range of available data for MINT)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
103
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$136.11
|
| Average CAGR (annualized rate of return) of those 103 12-month periods
|
1.36%
|
| Standard deviation (σ) of single-month returns, annualized)
|
0.47%
|
MINT compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which MINT made less than VMMXX
|
2/103 = 1.9%
|
| Average underperformance versus VMMXX over those 2 periods
|
-$14.02
|
| Worst single 12-month performance, 1/2018 - 12/2018
|
-$23.36
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$92.04
|
| Link to Morningstar chart of worst period
|
MINT vs VMMXX, 1/2018 - 12/2018
|
MINT Dollars
| Number of periods in which MINT lost money
|
0/103 = 0.0%
|
| Worst single 12-month performance, 10/2014 - 9/2015
|
+$22.14
|
| Average return, averaged over 12-month periods
|
+$136.11
|
| Link to Morningstar chart of worst period
|
MINT 10/2014 - 9/2015
|
MINT Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which MINT failed to keep up with inflation (had negative real return)
|
67/103 = 65.0%
|
| Average real loss over those 67 periods
|
-$86.14
|
| Worst single 12-month performance, 10/2010 - 9/2011
|
-$334.48
|
| Average real return, averaged over 12-month periods
|
-$41.68
|
| Link to Morningstar chart of worst period
|
MINT 10/2010 - 9/2011
|
FLOT: iShares Floating Rate Bond
FLOT: iShares Floating Rate Bond
8/2011 - 6/2019; 95 months total
(limited by range of available data for FLOT)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
84
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$143.44
|
| Average CAGR (annualized rate of return) of those 84 12-month periods
|
1.43%
|
| Standard deviation (σ) of single-month returns, annualized)
|
0.79%
|
FLOT compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which FLOT made less than VMMXX
|
9/84 = 10.7%
|
| Average underperformance versus VMMXX over those 9 periods
|
-$13.18
|
| Worst single 12-month performance, 1/2018 - 12/2018
|
-$38.76
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$90.63
|
| Link to Morningstar chart of worst period
|
FLOT vs VMMXX, 1/2018 - 12/2018
|
FLOT Dollars
| Number of periods in which FLOT lost money
|
4/84 = 4.8%
|
| Average loss over those 4 periods
|
-$12.40
|
| Worst single 12-month performance, 10/2014 - 9/2015
|
-$24.93
|
| Average return, averaged over 12-month periods
|
+$143.44
|
| Link to Morningstar chart of worst period
|
FLOT 10/2014 - 9/2015
|
FLOT Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which FLOT failed to keep up with inflation (had negative real return)
|
56/84 = 66.7%
|
| Average real loss over those 56 periods
|
-$54.30
|
| Worst single 12-month performance, 6/2013 - 5/2014
|
-$140.12
|
| Average real return, averaged over 12-month periods
|
-$10.90
|
| Link to Morningstar chart of worst period
|
FLOT 6/2013 - 5/2014
|
VUBFX: Vanguard Ultra-Short-Term Bond
VUBFX: Vanguard Ultra-Short-Term Bond
4/2015 - 6/2019; 51 months total
(limited by range of available data for VUBFX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
40
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$142.74
|
| Average CAGR (annualized rate of return) of those 40 12-month periods
|
1.43%
|
| Standard deviation (σ) of single-month returns, annualized)
|
0.43%
|
Vanguard's risk potential classification
Risk level 1
(conservative)
|
Vanguard funds are classified as conservative if their share prices are expected to remain stable or to fluctuate only slightly. Such funds may be appropriate for the short-term reserves portion of a long-term investment portfolio or for investors with short-term investment horizons (3 years or less).
|
VUBFX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VUBFX made less than VMMXX
|
11/40 = 27.5%
|
| Average underperformance versus VMMXX over those 11 periods
|
-$14.68
|
| Worst single 12-month performance, 9/2017 - 8/2018
|
-$25.73
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$34.65
|
| Link to Morningstar chart of worst period
|
VUBFX vs VMMXX, 9/2017 - 8/2018
|
VUBFX Dollars
| Number of periods in which VUBFX lost money
|
0/40 = 0.0%
|
| Worst single 12-month performance, 4/2015 - 3/2016
|
+$64.24
|
| Average return, averaged over 12-month periods
|
+$142.74
|
| Link to Morningstar chart of worst period
|
VUBFX 4/2015 - 3/2016
|
VUBFX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VUBFX failed to keep up with inflation (had negative real return)
|
30/40 = 75.0%
|
| Average real loss over those 30 periods
|
-$93.18
|
| Worst single 12-month performance, 8/2017 - 7/2018
|
-$165.89
|
| Average real return, averaged over 12-month periods
|
-$52.29
|
| Link to Morningstar chart of worst period
|
VUBFX 8/2017 - 7/2018
|
FULIX: Federated Ultrashort Bond
FULIX: Federated Ultrashort Bond
7/1997 - 6/2019; 264 months total
(limited by range of available data for FULIX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
253
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$296.34
|
| Average CAGR (annualized rate of return) of those 253 12-month periods
|
2.96%
|
| Standard deviation (σ) of single-month returns, annualized)
|
1.24%
|
FULIX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which FULIX made less than VMMXX
|
49/253 = 19.4%
|
| Average underperformance versus VMMXX over those 49 periods
|
-$177.32
|
| Worst single 12-month performance, 12/2007 - 11/2008
|
-$689.73
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$83.62
|
| Link to Morningstar chart of worst period
|
FULIX vs VMMXX, 12/2007 - 11/2008
|
FULIX Dollars
| Number of periods in which FULIX lost money
|
9/253 = 3.6%
|
| Average loss over those 9 periods
|
-$227.86
|
| Worst single 12-month performance, 12/2007 - 11/2008
|
-$392.97
|
| Average return, averaged over 12-month periods
|
+$296.34
|
| Link to Morningstar chart of worst period
|
FULIX 12/2007 - 11/2008
|
FULIX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which FULIX failed to keep up with inflation (had negative real return)
|
127/253 = 50.2%
|
| Average real loss over those 127 periods
|
-$116.12
|
| Worst single 12-month performance, 11/2007 - 10/2008
|
-$659.91
|
| Average real return, averaged over 12-month periods
|
+$79.97
|
| Link to Morningstar chart of worst period
|
FULIX 11/2007 - 10/2008
|
VMLTX: Vanguard Limited-Term Tax-Exempt
VMLTX: Vanguard Limited-Term Tax-Exempt
10/1987 - 6/2019; 381 months total
(limited by range of available data for VMLTX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
370
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$392.47
|
| Average CAGR (annualized rate of return) of those 370 12-month periods
|
3.92%
|
| Standard deviation (σ) of single-month returns, annualized)
|
1.85%
|
Vanguard's risk potential classification
Risk level 1
(conservative)
|
Vanguard funds are classified as conservative if their share prices are expected to remain stable or to fluctuate only slightly. Such funds may be appropriate for the short-term reserves portion of a long-term investment portfolio or for investors with short-term investment horizons (3 years or less).
|
VMLTX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VMLTX made less than VMMXX
|
144/370 = 38.9%
|
| Average underperformance versus VMMXX over those 144 periods
|
-$145.49
|
| Worst single 12-month performance, 2/1999 - 1/2000
|
-$443.89
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$61.95
|
| Link to Morningstar chart of worst period
|
VMLTX vs VMMXX, 2/1999 - 1/2000
|
VMLTX Dollars
| Number of periods in which VMLTX lost money
|
8/370 = 2.2%
|
| Average loss over those 8 periods
|
-$14.89
|
| Worst single 12-month performance, 12/2015 - 11/2016
|
-$34.62
|
| Average return, averaged over 12-month periods
|
+$392.47
|
| Link to Morningstar chart of worst period
|
VMLTX 12/2015 - 11/2016
|
VMLTX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VMLTX failed to keep up with inflation (had negative real return)
|
110/370 = 29.7%
|
| Average real loss over those 110 periods
|
-$142.83
|
| Worst single 12-month performance, 11/2004 - 10/2005
|
-$364.10
|
| Average real return, averaged over 12-month periods
|
+$136.88
|
| Link to Morningstar chart of worst period
|
VMLTX 11/2004 - 10/2005
|
BIL: SPDR® Bloomberg Barclays 1-3 Month T-Bill
BIL: SPDR® Bloomberg Barclays 1-3 Month T-Bill
7/2007 - 6/2019; 144 months total
(limited by range of available data for BIL)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
133
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$39.76
|
| Average CAGR (annualized rate of return) of those 133 12-month periods
|
0.40%
|
| Standard deviation (σ) of single-month returns, annualized)
|
0.33%
|
BIL compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which BIL made less than VMMXX
|
133/133 = 100.0%
|
| Average underperformance versus VMMXX over those 133 periods
|
-$27.46
|
| Worst single 12-month performance, 2/2008 - 1/2009
|
-$116.79
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
-$27.46
|
| Link to Morningstar chart of worst period
|
BIL vs VMMXX, 2/2008 - 1/2009
|
BIL Dollars
| Number of periods in which BIL lost money
|
63/133 = 47.4%
|
| Average loss over those 63 periods
|
-$6.69
|
| Worst single 12-month performance, 11/2014 - 10/2015
|
-$12.62
|
| Average return, averaged over 12-month periods
|
+$39.76
|
| Link to Morningstar chart of worst period
|
BIL 11/2014 - 10/2015
|
BIL Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which BIL failed to keep up with inflation (had negative real return)
|
114/133 = 85.7%
|
| Average real loss over those 114 periods
|
-$167.62
|
| Worst single 12-month performance, 10/2010 - 9/2011
|
-$388.89
|
| Average real return, averaged over 12-month periods
|
-$127.95
|
| Link to Morningstar chart of worst period
|
BIL 10/2010 - 9/2011
|
Short-term
VSBSX: Vanguard Short-Term Treasury Index
VSBSX: Vanguard Short-Term Treasury Index
1/2010 - 6/2019; 114 months total
(limited by range of available data for VSBSX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
103
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$76.77
|
| Average CAGR (annualized rate of return) of those 103 12-month periods
|
0.77%
|
| Standard deviation (σ) of single-month returns, annualized)
|
0.79%
|
Vanguard's risk potential classification
Risk level 1
(conservative)
|
Vanguard funds are classified as conservative if their share prices are expected to remain stable or to fluctuate only slightly. Such funds may be appropriate for the short-term reserves portion of a long-term investment portfolio or for investors with short-term investment horizons (3 years or less).
|
VSBSX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VSBSX made less than VMMXX
|
24/103 = 23.3%
|
| Average underperformance versus VMMXX over those 24 periods
|
-$94.78
|
| Worst single 12-month performance, 10/2017 - 9/2018
|
-$177.70
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$32.69
|
| Link to Morningstar chart of worst period
|
VSBSX vs VMMXX, 10/2017 - 9/2018
|
VSBSX Dollars
| Number of periods in which VSBSX lost money
|
10/103 = 9.7%
|
| Average loss over those 10 periods
|
-$15.03
|
| Worst single 12-month performance, 5/2017 - 4/2018
|
-$37.27
|
| Average return, averaged over 12-month periods
|
+$76.77
|
| Link to Morningstar chart of worst period
|
VSBSX 5/2017 - 4/2018
|
VSBSX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VSBSX failed to keep up with inflation (had negative real return)
|
82/103 = 79.6%
|
| Average real loss over those 82 periods
|
-$146.94
|
| Worst single 12-month performance, 8/2017 - 7/2018
|
-$319.22
|
| Average real return, averaged over 12-month periods
|
-$101.02
|
| Link to Morningstar chart of worst period
|
VSBSX 8/2017 - 7/2018
|
VFISX: Vanguard Short-Term Treasury
VFISX: Vanguard Short-Term Treasury
12/1991 - 6/2019; 331 months total
(limited by range of available data for VFISX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
320
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$381.29
|
| Average CAGR (annualized rate of return) of those 320 12-month periods
|
3.81%
|
| Standard deviation (σ) of single-month returns, annualized)
|
1.96%
|
Vanguard's risk potential classification
Risk level 1
(conservative)
|
Vanguard funds are classified as conservative if their share prices are expected to remain stable or to fluctuate only slightly. Such funds may be appropriate for the short-term reserves portion of a long-term investment portfolio or for investors with short-term investment horizons (3 years or less).
|
VFISX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VFISX made less than VMMXX
|
97/320 = 30.3%
|
| Average underperformance versus VMMXX over those 97 periods
|
-$131.29
|
| Worst single 12-month performance, 1/1994 - 12/1994
|
-$456.03
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$117.10
|
| Link to Morningstar chart of worst period
|
VFISX vs VMMXX, 1/1994 - 12/1994
|
VFISX Dollars
| Number of periods in which VFISX lost money
|
19/320 = 5.9%
|
| Average loss over those 19 periods
|
-$32.68
|
| Worst single 12-month performance, 5/2017 - 4/2018
|
-$69.26
|
| Average return, averaged over 12-month periods
|
+$381.29
|
| Link to Morningstar chart of worst period
|
VFISX 5/2017 - 4/2018
|
VFISX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VFISX failed to keep up with inflation (had negative real return)
|
132/320 = 41.2%
|
| Average real loss over those 132 periods
|
-$150.49
|
| Worst single 12-month performance, 11/2004 - 10/2005
|
-$369.35
|
| Average real return, averaged over 12-month periods
|
+$154.87
|
| Link to Morningstar chart of worst period
|
VFISX 11/2004 - 10/2005
|
VGSH: Vanguard Short-Term Treasury Index Fund
VGSH: Vanguard Short-Term Treasury Index Fund
1/2010 - 6/2019; 114 months total
(limited by range of available data for VGSH)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
103
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$77.24
|
| Average CAGR (annualized rate of return) of those 103 12-month periods
|
0.77%
|
| Standard deviation (σ) of single-month returns, annualized)
|
0.79%
|
Vanguard's risk potential classification
Risk level 1
(conservative)
|
Vanguard funds are classified as conservative if their share prices are expected to remain stable or to fluctuate only slightly. Such funds may be appropriate for the short-term reserves portion of a long-term investment portfolio or for investors with short-term investment horizons (3 years or less).
|
VGSH compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VGSH made less than VMMXX
|
24/103 = 23.3%
|
| Average underperformance versus VMMXX over those 24 periods
|
-$95.95
|
| Worst single 12-month performance, 8/2017 - 7/2018
|
-$180.27
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$33.17
|
| Link to Morningstar chart of worst period
|
VGSH vs VMMXX, 8/2017 - 7/2018
|
VGSH Dollars
| Number of periods in which VGSH lost money
|
10/103 = 9.7%
|
| Average loss over those 10 periods
|
-$16.51
|
| Worst single 12-month performance, 5/2017 - 4/2018
|
-$39.96
|
| Average return, averaged over 12-month periods
|
+$77.24
|
| Link to Morningstar chart of worst period
|
VGSH 5/2017 - 4/2018
|
VGSH Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VGSH failed to keep up with inflation (had negative real return)
|
82/103 = 79.6%
|
| Average real loss over those 82 periods
|
-$146.47
|
| Worst single 12-month performance, 8/2017 - 7/2018
|
-$324.01
|
| Average real return, averaged over 12-month periods
|
-$100.54
|
| Link to Morningstar chart of worst period
|
VGSH 8/2017 - 7/2018
|
VBISX: Vanguard Short-Term Bond Index
VBISX: Vanguard Short-Term Bond Index
5/1994 - 6/2019; 302 months total
(limited by range of available data for VBISX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
291
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$410.94
|
| Average CAGR (annualized rate of return) of those 291 12-month periods
|
4.11%
|
| Standard deviation (σ) of single-month returns, annualized)
|
2.04%
|
Vanguard's risk potential classification
Risk level 1
(conservative)
|
Vanguard funds are classified as conservative if their share prices are expected to remain stable or to fluctuate only slightly. Such funds may be appropriate for the short-term reserves portion of a long-term investment portfolio or for investors with short-term investment horizons (3 years or less).
|
VBISX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VBISX made less than VMMXX
|
67/291 = 23.0%
|
| Average underperformance versus VMMXX over those 67 periods
|
-$128.70
|
| Worst single 12-month performance, 2/1999 - 1/2000
|
-$356.95
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$154.81
|
| Link to Morningstar chart of worst period
|
VBISX vs VMMXX, 2/1999 - 1/2000
|
VBISX Dollars
| Number of periods in which VBISX lost money
|
11/291 = 3.8%
|
| Average loss over those 11 periods
|
-$41.49
|
| Worst single 12-month performance, 8/2017 - 7/2018
|
-$66.54
|
| Average return, averaged over 12-month periods
|
+$410.94
|
| Link to Morningstar chart of worst period
|
VBISX 8/2017 - 7/2018
|
VBISX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VBISX failed to keep up with inflation (had negative real return)
|
92/291 = 31.6%
|
| Average real loss over those 92 periods
|
-$149.68
|
| Worst single 12-month performance, 11/2004 - 10/2005
|
-$413.11
|
| Average real return, averaged over 12-month periods
|
+$189.85
|
| Link to Morningstar chart of worst period
|
VBISX 11/2004 - 10/2005
|
VSGBX: Vanguard Short-Term Federal
VSGBX: Vanguard Short-Term Federal
2/1988 - 6/2019; 377 months total
(limited by range of available data for VSGBX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
366
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$473.67
|
| Average CAGR (annualized rate of return) of those 366 12-month periods
|
4.74%
|
| Standard deviation (σ) of single-month returns, annualized)
|
2.03%
|
Vanguard's risk potential classification
Risk level 1
(conservative)
|
Vanguard funds are classified as conservative if their share prices are expected to remain stable or to fluctuate only slightly. Such funds may be appropriate for the short-term reserves portion of a long-term investment portfolio or for investors with short-term investment horizons (3 years or less).
|
VSGBX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VSGBX made less than VMMXX
|
100/366 = 27.3%
|
| Average underperformance versus VMMXX over those 100 periods
|
-$132.79
|
| Worst single 12-month performance, 1/1994 - 12/1994
|
-$502.65
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$147.67
|
| Link to Morningstar chart of worst period
|
VSGBX vs VMMXX, 1/1994 - 12/1994
|
VSGBX Dollars
| Number of periods in which VSGBX lost money
|
24/366 = 6.6%
|
| Average loss over those 24 periods
|
-$32.78
|
| Worst single 12-month performance, 1/1994 - 12/1994
|
-$94.36
|
| Average return, averaged over 12-month periods
|
+$473.67
|
| Link to Morningstar chart of worst period
|
VSGBX 1/1994 - 12/1994
|
VSGBX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VSGBX failed to keep up with inflation (had negative real return)
|
116/366 = 31.7%
|
| Average real loss over those 116 periods
|
-$151.74
|
| Worst single 12-month performance, 11/2004 - 10/2005
|
-$375.84
|
| Average real return, averaged over 12-month periods
|
+$219.94
|
| Link to Morningstar chart of worst period
|
VSGBX 11/2004 - 10/2005
|
VTIPX: Vanguard Short-Term Inflation-Protected Securities Index
VTIPX: Vanguard Short-Term Inflation-Protected Securities Index
12/2012 - 6/2019; 79 months total
(limited by range of available data for VTIPX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
68
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$40.14
|
| Average CAGR (annualized rate of return) of those 68 12-month periods
|
0.40%
|
| Standard deviation (σ) of single-month returns, annualized)
|
1.57%
|
Vanguard's risk potential classification
Risk level 1
(conservative)
|
Vanguard funds are classified as conservative if their share prices are expected to remain stable or to fluctuate only slightly. Such funds may be appropriate for the short-term reserves portion of a long-term investment portfolio or for investors with short-term investment horizons (3 years or less).
|
VTIPX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VTIPX made less than VMMXX
|
45/68 = 66.2%
|
| Average underperformance versus VMMXX over those 45 periods
|
-$96.16
|
| Worst single 12-month performance, 9/2014 - 8/2015
|
-$224.53
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
-$24.37
|
| Link to Morningstar chart of worst period
|
VTIPX vs VMMXX, 9/2014 - 8/2015
|
VTIPX Dollars
| Number of periods in which VTIPX lost money
|
25/68 = 36.8%
|
| Average loss over those 25 periods
|
-$111.22
|
| Worst single 12-month performance, 9/2014 - 8/2015
|
-$222.98
|
| Average return, averaged over 12-month periods
|
+$40.14
|
| Link to Morningstar chart of worst period
|
VTIPX 9/2014 - 8/2015
|
VTIPX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VTIPX failed to keep up with inflation (had negative real return)
|
55/68 = 80.9%
|
| Average real loss over those 55 periods
|
-$154.42
|
| Worst single 12-month performance, 4/2013 - 3/2014
|
-$347.89
|
| Average real return, averaged over 12-month periods
|
-$112.85
|
| Link to Morningstar chart of worst period
|
VTIPX 4/2013 - 3/2014
|
Intermediate-term
VBMFX: Vanguard Total Bond Market Index
VBMFX: Vanguard Total Bond Market Index
2/1987 - 6/2019; 389 months total
(limited by range of available data for VBMFX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
378
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$601.15
|
| Average CAGR (annualized rate of return) of those 378 12-month periods
|
6.01%
|
| Standard deviation (σ) of single-month returns, annualized)
|
3.81%
|
Vanguard's risk potential classification
Risk level 2
(conservative to moderate)
|
Vanguard funds classified as conservative to moderate are subject to low to moderate fluctuations in share prices. In general, such funds may be appropriate for investors with medium-term investment horizons (4 to 10 years).
|
VBMFX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VBMFX made less than VMMXX
|
105/378 = 27.8%
|
| Average underperformance versus VMMXX over those 105 periods
|
-$216.49
|
| Worst single 12-month performance, 11/1993 - 10/1994
|
-$743.09
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$262.79
|
| Link to Morningstar chart of worst period
|
VBMFX vs VMMXX, 11/1993 - 10/1994
|
VBMFX Dollars
| Number of periods in which VBMFX lost money
|
38/378 = 10.1%
|
| Average loss over those 38 periods
|
-$126.38
|
| Worst single 12-month performance, 11/1993 - 10/1994
|
-$372.88
|
| Average return, averaged over 12-month periods
|
+$601.15
|
| Link to Morningstar chart of worst period
|
VBMFX 11/1993 - 10/1994
|
VBMFX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VBMFX failed to keep up with inflation (had negative real return)
|
82/378 = 21.7%
|
| Average real loss over those 82 periods
|
-$245.39
|
| Worst single 12-month performance, 11/1993 - 10/1994
|
-$633.69
|
| Average real return, averaged over 12-month periods
|
+$342.54
|
| Link to Morningstar chart of worst period
|
VBMFX 11/1993 - 10/1994
|
VTEB: Vanguard Tax-Exempt Bond Index Fund
VTEB: Vanguard Tax-Exempt Bond Index Fund
10/2015 - 6/2019; 45 months total
(limited by range of available data for VTEB)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
34
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$201.39
|
| Average CAGR (annualized rate of return) of those 34 12-month periods
|
2.01%
|
| Standard deviation (σ) of single-month returns, annualized)
|
3.10%
|
Vanguard's risk potential classification
Risk level 2
(conservative to moderate)
|
Vanguard funds classified as conservative to moderate are subject to low to moderate fluctuations in share prices. In general, such funds may be appropriate for investors with medium-term investment horizons (4 to 10 years).
|
VTEB compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VTEB made less than VMMXX
|
18/34 = 52.9%
|
| Average underperformance versus VMMXX over those 18 periods
|
-$78.49
|
| Worst single 12-month performance, 11/2017 - 10/2018
|
-$262.26
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$78.26
|
| Link to Morningstar chart of worst period
|
VTEB vs VMMXX, 11/2017 - 10/2018
|
VTEB Dollars
| Number of periods in which VTEB lost money
|
5/34 = 14.7%
|
| Average loss over those 5 periods
|
-$38.45
|
| Worst single 12-month performance, 11/2017 - 10/2018
|
-$85.35
|
| Average return, averaged over 12-month periods
|
+$201.39
|
| Link to Morningstar chart of worst period
|
VTEB 11/2017 - 10/2018
|
VTEB Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VTEB failed to keep up with inflation (had negative real return)
|
21/34 = 61.8%
|
| Average real loss over those 21 periods
|
-$180.10
|
| Worst single 12-month performance, 11/2017 - 10/2018
|
-$337.60
|
| Average real return, averaged over 12-month periods
|
-$10.75
|
| Link to Morningstar chart of worst period
|
VTEB 11/2017 - 10/2018
|
VWIUX: Vanguard Intermediate-Term Tax-Exempt
VWIUX: Vanguard Intermediate-Term Tax-Exempt
11/1977 - 6/2019; 500 months total
(limited by range of available data for VWIUX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
489
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$564.67
|
| Average CAGR (annualized rate of return) of those 489 12-month periods
|
5.65%
|
| Standard deviation (σ) of single-month returns, annualized)
|
5.51%
|
Vanguard's risk potential classification
Risk level 2
(conservative to moderate)
|
Vanguard funds classified as conservative to moderate are subject to low to moderate fluctuations in share prices. In general, such funds may be appropriate for investors with medium-term investment horizons (4 to 10 years).
|
VWIUX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VWIUX made less than VMMXX
|
184/489 = 37.6%
|
| Average underperformance versus VMMXX over those 184 periods
|
-$588.72
|
| Worst single 12-month performance, 9/1980 - 8/1981
|
-$3159.91
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$65.71
|
| Link to Morningstar chart of worst period
|
VWIUX vs VMMXX, 9/1980 - 8/1981
|
VWIUX Dollars
| Number of periods in which VWIUX lost money
|
67/489 = 13.7%
|
| Average loss over those 67 periods
|
-$407.91
|
| Worst single 12-month performance, 4/1979 - 3/1980
|
-$1563.90
|
| Average return, averaged over 12-month periods
|
+$564.67
|
| Link to Morningstar chart of worst period
|
VWIUX 4/1979 - 3/1980
|
VWIUX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VWIUX failed to keep up with inflation (had negative real return)
|
147/489 = 30.1%
|
| Average real loss over those 147 periods
|
-$620.38
|
| Worst single 12-month performance, 4/1979 - 3/1980
|
-$3039.55
|
| Average real return, averaged over 12-month periods
|
+$217.08
|
| Link to Morningstar chart of worst period
|
VWIUX 4/1979 - 3/1980
|
Long-term
VNYTX: Vanguard New York Long-Term Tax-Exempt
VNYTX: Vanguard New York Long-Term Tax-Exempt
6/1986 - 6/2019; 397 months total
(limited by range of available data for VNYTX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
386
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$575.58
|
| Average CAGR (annualized rate of return) of those 386 12-month periods
|
5.76%
|
| Standard deviation (σ) of single-month returns, annualized)
|
5.31%
|
Vanguard's risk potential classification
Risk level 3
(moderate)
|
Vanguard funds classified as moderate are subject to a moderate degree of fluctuation in share prices. In general, such funds may be appropriate for investors who have a relatively long-term investment horizon (more than 5 years).
|
VNYTX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VNYTX made less than VMMXX
|
124/386 = 32.1%
|
| Average underperformance versus VMMXX over those 124 periods
|
-$327.51
|
| Worst single 12-month performance, 11/1986 - 10/1987
|
-$1381.28
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$231.34
|
| Link to Morningstar chart of worst period
|
VNYTX vs VMMXX, 11/1986 - 10/1987
|
VNYTX Dollars
| Number of periods in which VNYTX lost money
|
47/386 = 12.2%
|
| Average loss over those 47 periods
|
-$260.35
|
| Worst single 12-month performance, 11/1986 - 10/1987
|
-$750.14
|
| Average return, averaged over 12-month periods
|
+$575.58
|
| Link to Morningstar chart of worst period
|
VNYTX 11/1986 - 10/1987
|
VNYTX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VNYTX failed to keep up with inflation (had negative real return)
|
116/386 = 30.1%
|
| Average real loss over those 116 periods
|
-$294.57
|
| Worst single 12-month performance, 11/1986 - 10/1987
|
-$1203.45
|
| Average real return, averaged over 12-month periods
|
+$313.64
|
| Link to Morningstar chart of worst period
|
VNYTX 11/1986 - 10/1987
|
Balanced
VBINX: Vanguard Balanced Index
VBINX: Vanguard Balanced Index
1/1993 - 6/2019; 318 months total
(limited by range of available data for VBINX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
307
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$844.28
|
| Average CAGR (annualized rate of return) of those 307 12-month periods
|
8.44%
|
| Standard deviation (σ) of single-month returns, annualized)
|
8.86%
|
Vanguard's risk potential classification
Risk level 3
(moderate)
|
Vanguard funds classified as moderate are subject to a moderate degree of fluctuation in share prices. In general, such funds may be appropriate for investors who have a relatively long-term investment horizon (more than 5 years).
|
VBINX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VBINX made less than VMMXX
|
66/307 = 21.5%
|
| Average underperformance versus VMMXX over those 66 periods
|
-$959.42
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$3000.48
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$582.98
|
| Link to Morningstar chart of worst period
|
VBINX vs VMMXX, 3/2008 - 2/2009
|
VBINX Dollars
| Number of periods in which VBINX lost money
|
55/307 = 17.9%
|
| Average loss over those 55 periods
|
-$783.36
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$2767.23
|
| Average return, averaged over 12-month periods
|
+$844.28
|
| Link to Morningstar chart of worst period
|
VBINX 3/2008 - 2/2009
|
VBINX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VBINX failed to keep up with inflation (had negative real return)
|
68/307 = 22.1%
|
| Average real loss over those 68 periods
|
-$824.47
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$2790.85
|
| Average real return, averaged over 12-month periods
|
+$620.85
|
| Link to Morningstar chart of worst period
|
VBINX 3/2008 - 2/2009
|
VSCGX: Vanguard LifeStrategy Conservative Growth
VSCGX: Vanguard LifeStrategy Conservative Growth
11/1994 - 6/2019; 296 months total
(limited by range of available data for VSCGX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
285
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$692.55
|
| Average CAGR (annualized rate of return) of those 285 12-month periods
|
6.93%
|
| Standard deviation (σ) of single-month returns, annualized)
|
6.74%
|
Vanguard's risk potential classification
Risk level 3
(moderate)
|
Vanguard funds classified as moderate are subject to a moderate degree of fluctuation in share prices. In general, such funds may be appropriate for investors who have a relatively long-term investment horizon (more than 5 years).
|
VSCGX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VSCGX made less than VMMXX
|
59/285 = 20.7%
|
| Average underperformance versus VMMXX over those 59 periods
|
-$744.00
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$2660.09
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$442.40
|
| Link to Morningstar chart of worst period
|
VSCGX vs VMMXX, 3/2008 - 2/2009
|
VSCGX Dollars
| Number of periods in which VSCGX lost money
|
44/285 = 15.4%
|
| Average loss over those 44 periods
|
-$652.59
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$2426.84
|
| Average return, averaged over 12-month periods
|
+$692.55
|
| Link to Morningstar chart of worst period
|
VSCGX 3/2008 - 2/2009
|
VSCGX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VSCGX failed to keep up with inflation (had negative real return)
|
63/285 = 22.1%
|
| Average real loss over those 63 periods
|
-$612.24
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$2450.46
|
| Average real return, averaged over 12-month periods
|
+$472.85
|
| Link to Morningstar chart of worst period
|
VSCGX 3/2008 - 2/2009
|
VSMGX: Vanguard LifeStrategy Moderate Growth
VSMGX: Vanguard LifeStrategy Moderate Growth
11/1994 - 6/2019; 296 months total
(limited by range of available data for VSMGX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
285
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$795.86
|
| Average CAGR (annualized rate of return) of those 285 12-month periods
|
7.96%
|
| Standard deviation (σ) of single-month returns, annualized)
|
9.49%
|
Vanguard's risk potential classification
Risk level 3
(moderate)
|
Vanguard funds classified as moderate are subject to a moderate degree of fluctuation in share prices. In general, such funds may be appropriate for investors who have a relatively long-term investment horizon (more than 5 years).
|
VSMGX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VSMGX made less than VMMXX
|
67/285 = 23.5%
|
| Average underperformance versus VMMXX over those 67 periods
|
-$1032.23
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$3459.91
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$545.71
|
| Link to Morningstar chart of worst period
|
VSMGX vs VMMXX, 3/2008 - 2/2009
|
VSMGX Dollars
| Number of periods in which VSMGX lost money
|
59/285 = 20.7%
|
| Average loss over those 59 periods
|
-$869.41
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$3226.66
|
| Average return, averaged over 12-month periods
|
+$795.86
|
| Link to Morningstar chart of worst period
|
VSMGX 3/2008 - 2/2009
|
VSMGX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VSMGX failed to keep up with inflation (had negative real return)
|
68/285 = 23.9%
|
| Average real loss over those 68 periods
|
-$941.55
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$3250.28
|
| Average real return, averaged over 12-month periods
|
+$576.16
|
| Link to Morningstar chart of worst period
|
VSMGX 3/2008 - 2/2009
|
VASIX: Vanguard LifeStrategy Income
VASIX: Vanguard LifeStrategy Income
11/1994 - 6/2019; 296 months total
(limited by range of available data for VASIX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
285
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$606.58
|
| Average CAGR (annualized rate of return) of those 285 12-month periods
|
6.07%
|
| Standard deviation (σ) of single-month returns, annualized)
|
4.36%
|
Vanguard's risk potential classification
Risk level 2
(conservative to moderate)
|
Vanguard funds classified as conservative to moderate are subject to low to moderate fluctuations in share prices. In general, such funds may be appropriate for investors with medium-term investment horizons (4 to 10 years).
|
VASIX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VASIX made less than VMMXX
|
53/285 = 18.6%
|
| Average underperformance versus VMMXX over those 53 periods
|
-$375.77
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$1662.90
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$356.43
|
| Link to Morningstar chart of worst period
|
VASIX vs VMMXX, 3/2008 - 2/2009
|
VASIX Dollars
| Number of periods in which VASIX lost money
|
22/285 = 7.7%
|
| Average loss over those 22 periods
|
-$504.99
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$1429.66
|
| Average return, averaged over 12-month periods
|
+$606.58
|
| Link to Morningstar chart of worst period
|
VASIX 3/2008 - 2/2009
|
VASIX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VASIX failed to keep up with inflation (had negative real return)
|
46/285 = 16.1%
|
| Average real loss over those 46 periods
|
-$371.38
|
| Worst single 12-month performance, 11/2007 - 10/2008
|
-$1594.10
|
| Average real return, averaged over 12-month periods
|
+$386.88
|
| Link to Morningstar chart of worst period
|
VASIX 11/2007 - 10/2008
|
VASGX: Vanguard LifeStrategy Growth
VASGX: Vanguard LifeStrategy Growth
11/1994 - 6/2019; 296 months total
(limited by range of available data for VASGX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
285
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$881.71
|
| Average CAGR (annualized rate of return) of those 285 12-month periods
|
8.82%
|
| Standard deviation (σ) of single-month returns, annualized)
|
12.38%
|
Vanguard's risk potential classification
Risk level 4
(moderate to aggressive)
|
Vanguard funds classified as moderate to aggressive are broadly diversified but are subject to wide fluctuations in share prices because they hold virtually all of their assets in common stocks. These funds may be appropriate for investors who have a long-term investment horizon (10 years or longer).
|
VASGX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VASGX made less than VMMXX
|
75/285 = 26.3%
|
| Average underperformance versus VMMXX over those 75 periods
|
-$1309.60
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4293.05
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$631.56
|
| Link to Morningstar chart of worst period
|
VASGX vs VMMXX, 3/2008 - 2/2009
|
VASGX Dollars
| Number of periods in which VASGX lost money
|
67/285 = 23.5%
|
| Average loss over those 67 periods
|
-$1179.95
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4059.80
|
| Average return, averaged over 12-month periods
|
+$881.71
|
| Link to Morningstar chart of worst period
|
VASGX 3/2008 - 2/2009
|
VASGX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VASGX failed to keep up with inflation (had negative real return)
|
76/285 = 26.7%
|
| Average real loss over those 76 periods
|
-$1227.34
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4083.42
|
| Average real return, averaged over 12-month periods
|
+$662.01
|
| Link to Morningstar chart of worst period
|
VASGX 3/2008 - 2/2009
|
VWELX: Vanguard Wellington
VWELX: Vanguard Wellington
8/1975 - 6/2019; 527 months total
(limited by start of available data for VMMXX, and by end of available data for VWELX data)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
516
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$1144.03
|
| Average CAGR (annualized rate of return) of those 516 12-month periods
|
11.44%
|
| Standard deviation (σ) of single-month returns, annualized)
|
10.17%
|
Vanguard's risk potential classification
Risk level 3
(moderate)
|
Vanguard funds classified as moderate are subject to a moderate degree of fluctuation in share prices. In general, such funds may be appropriate for investors who have a relatively long-term investment horizon (more than 5 years).
|
VWELX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VWELX made less than VMMXX
|
127/516 = 24.6%
|
| Average underperformance versus VMMXX over those 127 periods
|
-$783.88
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$3104.03
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$643.47
|
| Link to Morningstar chart of worst period
|
VWELX vs VMMXX, 3/2008 - 2/2009
|
VWELX Dollars
| Number of periods in which VWELX lost money
|
70/516 = 13.6%
|
| Average loss over those 70 periods
|
-$610.53
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$2870.78
|
| Average return, averaged over 12-month periods
|
+$1144.03
|
| Link to Morningstar chart of worst period
|
VWELX 3/2008 - 2/2009
|
VWELX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VWELX failed to keep up with inflation (had negative real return)
|
117/516 = 22.7%
|
| Average real loss over those 117 periods
|
-$685.15
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$2894.40
|
| Average real return, averaged over 12-month periods
|
+$780.84
|
| Link to Morningstar chart of worst period
|
VWELX 3/2008 - 2/2009
|
VWINX: Vanguard Wellesley Income
VWINX: Vanguard Wellesley Income
8/1975 - 6/2019; 527 months total
(limited by start of available data for VMMXX, and by end of available data for VWINX data)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
516
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$1033.73
|
| Average CAGR (annualized rate of return) of those 516 12-month periods
|
10.34%
|
| Standard deviation (σ) of single-month returns, annualized)
|
6.98%
|
Vanguard's risk potential classification
Risk level 3
(moderate)
|
Vanguard funds classified as moderate are subject to a moderate degree of fluctuation in share prices. In general, such funds may be appropriate for investors who have a relatively long-term investment horizon (more than 5 years).
|
VWINX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VWINX made less than VMMXX
|
130/516 = 25.2%
|
| Average underperformance versus VMMXX over those 130 periods
|
-$549.84
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$1884.28
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$533.17
|
| Link to Morningstar chart of worst period
|
VWINX vs VMMXX, 3/2008 - 2/2009
|
VWINX Dollars
| Number of periods in which VWINX lost money
|
38/516 = 7.4%
|
| Average loss over those 38 periods
|
-$479.82
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$1651.03
|
| Average return, averaged over 12-month periods
|
+$1033.73
|
| Link to Morningstar chart of worst period
|
VWINX 3/2008 - 2/2009
|
VWINX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VWINX failed to keep up with inflation (had negative real return)
|
116/516 = 22.5%
|
| Average real loss over those 116 periods
|
-$474.54
|
| Worst single 12-month performance, 4/1979 - 3/1980
|
-$1984.16
|
| Average real return, averaged over 12-month periods
|
+$670.55
|
| Link to Morningstar chart of worst period
|
VWINX 4/1979 - 3/1980
|
Stock
VGT: Vanguard Information Technology Index Fund
VGT: Vanguard Information Technology Index Fund
3/2004 - 6/2019; 184 months total
(limited by range of available data for VGT)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
173
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$1329.75
|
| Average CAGR (annualized rate of return) of those 173 12-month periods
|
13.30%
|
| Standard deviation (σ) of single-month returns, annualized)
|
17.83%
|
Vanguard's risk potential classification
Risk level 5
(aggressive)
|
Vanguard funds classified as aggressive are subject to extremely wide fluctuations in share prices. These funds may be appropriate for investors who have a long-term investment horizon (10 years or longer). The unusually high volatility associated with these funds may stem from a number of strategies.
|
VGT compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VGT made less than VMMXX
|
33/173 = 19.1%
|
| Average underperformance versus VMMXX over those 33 periods
|
-$1478.65
|
| Worst single 12-month performance, 12/2007 - 11/2008
|
-$4615.09
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$1186.48
|
| Link to Morningstar chart of worst period
|
VGT vs VMMXX, 12/2007 - 11/2008
|
VGT Dollars
| Number of periods in which VGT lost money
|
28/173 = 16.2%
|
| Average loss over those 28 periods
|
-$1463.38
|
| Worst single 12-month performance, 12/2007 - 11/2008
|
-$4318.33
|
| Average return, averaged over 12-month periods
|
+$1329.75
|
| Link to Morningstar chart of worst period
|
VGT 12/2007 - 11/2008
|
VGT Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VGT failed to keep up with inflation (had negative real return)
|
35/173 = 20.2%
|
| Average real loss over those 35 periods
|
-$1360.78
|
| Worst single 12-month performance, 11/2007 - 10/2008
|
-$4488.07
|
| Average real return, averaged over 12-month periods
|
+$1125.00
|
| Link to Morningstar chart of worst period
|
VGT 11/2007 - 10/2008
|
VFINX: Vanguard 500 Index Investor
VFINX: Vanguard 500 Index Investor
10/1976 - 6/2019; 513 months total
(limited by range of available data for VFINX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
502
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$1242.59
|
| Average CAGR (annualized rate of return) of those 502 12-month periods
|
12.43%
|
| Standard deviation (σ) of single-month returns, annualized)
|
14.74%
|
Vanguard's risk potential classification
Risk level 4
(moderate to aggressive)
|
Vanguard funds classified as moderate to aggressive are broadly diversified but are subject to wide fluctuations in share prices because they hold virtually all of their assets in common stocks. These funds may be appropriate for investors who have a long-term investment horizon (10 years or longer).
|
VFINX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VFINX made less than VMMXX
|
126/502 = 25.1%
|
| Average underperformance versus VMMXX over those 126 periods
|
-$1464.58
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4565.72
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$742.80
|
| Link to Morningstar chart of worst period
|
VFINX vs VMMXX, 3/2008 - 2/2009
|
VFINX Dollars
| Number of periods in which VFINX lost money
|
93/502 = 18.5%
|
| Average loss over those 93 periods
|
-$1285.91
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4332.47
|
| Average return, averaged over 12-month periods
|
+$1242.59
|
| Link to Morningstar chart of worst period
|
VFINX 3/2008 - 2/2009
|
VFINX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VFINX failed to keep up with inflation (had negative real return)
|
121/502 = 24.1%
|
| Average real loss over those 121 periods
|
-$1326.04
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4356.09
|
| Average real return, averaged over 12-month periods
|
+$885.88
|
| Link to Morningstar chart of worst period
|
VFINX 3/2008 - 2/2009
|
VTEAX: Vanguard Tax-Exempt Bond Index
VTEAX: Vanguard Tax-Exempt Bond Index
10/2015 - 6/2019; 45 months total
(limited by range of available data for VTEAX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
34
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$202.24
|
| Average CAGR (annualized rate of return) of those 34 12-month periods
|
2.02%
|
| Standard deviation (σ) of single-month returns, annualized)
|
3.09%
|
Vanguard's risk potential classification
Risk level 2
(conservative to moderate)
|
Vanguard funds classified as conservative to moderate are subject to low to moderate fluctuations in share prices. In general, such funds may be appropriate for investors with medium-term investment horizons (4 to 10 years).
|
VTEAX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VTEAX made less than VMMXX
|
18/34 = 52.9%
|
| Average underperformance versus VMMXX over those 18 periods
|
-$77.15
|
| Worst single 12-month performance, 11/2017 - 10/2018
|
-$261.41
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$79.12
|
| Link to Morningstar chart of worst period
|
VTEAX vs VMMXX, 11/2017 - 10/2018
|
VTEAX Dollars
| Number of periods in which VTEAX lost money
|
4/34 = 11.8%
|
| Average loss over those 4 periods
|
-$43.59
|
| Worst single 12-month performance, 11/2017 - 10/2018
|
-$84.50
|
| Average return, averaged over 12-month periods
|
+$202.24
|
| Link to Morningstar chart of worst period
|
VTEAX 11/2017 - 10/2018
|
VTEAX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VTEAX failed to keep up with inflation (had negative real return)
|
21/34 = 61.8%
|
| Average real loss over those 21 periods
|
-$179.08
|
| Worst single 12-month performance, 11/2017 - 10/2018
|
-$336.75
|
| Average real return, averaged over 12-month periods
|
-$9.90
|
| Link to Morningstar chart of worst period
|
VTEAX 11/2017 - 10/2018
|
VTI: Vanguard Total Stock Market Index Fund
VTI: Vanguard Total Stock Market Index Fund
6/1992 - 6/2019; 325 months total
(limited by range of available data for VTI)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
314
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$1102.43
|
| Average CAGR (annualized rate of return) of those 314 12-month periods
|
11.02%
|
| Standard deviation (σ) of single-month returns, annualized)
|
14.61%
|
Vanguard's risk potential classification
Risk level 4
(moderate to aggressive)
|
Vanguard funds classified as moderate to aggressive are broadly diversified but are subject to wide fluctuations in share prices because they hold virtually all of their assets in common stocks. These funds may be appropriate for investors who have a long-term investment horizon (10 years or longer).
|
VTI compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VTI made less than VMMXX
|
71/314 = 22.6%
|
| Average underperformance versus VMMXX over those 71 periods
|
-$1608.29
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4547.36
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$840.05
|
| Link to Morningstar chart of worst period
|
VTI vs VMMXX, 3/2008 - 2/2009
|
VTI Dollars
| Number of periods in which VTI lost money
|
61/314 = 19.4%
|
| Average loss over those 61 periods
|
-$1535.06
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4314.12
|
| Average return, averaged over 12-month periods
|
+$1102.43
|
| Link to Morningstar chart of worst period
|
VTI 3/2008 - 2/2009
|
VTI Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VTI failed to keep up with inflation (had negative real return)
|
70/314 = 22.3%
|
| Average real loss over those 70 periods
|
-$1531.10
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4337.74
|
| Average real return, averaged over 12-month periods
|
+$877.66
|
| Link to Morningstar chart of worst period
|
VTI 3/2008 - 2/2009
|
VTIAX: Vanguard Total International Stock Index
VTIAX: Vanguard Total International Stock Index
6/1996 - 6/2019; 277 months total
(limited by range of available data for VTIAX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
266
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$675.42
|
| Average CAGR (annualized rate of return) of those 266 12-month periods
|
6.75%
|
| Standard deviation (σ) of single-month returns, annualized)
|
16.94%
|
Vanguard's risk potential classification
Risk level 5
(aggressive)
|
Vanguard funds classified as aggressive are subject to extremely wide fluctuations in share prices. These funds may be appropriate for investors who have a long-term investment horizon (10 years or longer). The unusually high volatility associated with these funds may stem from a number of strategies.
|
VTIAX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VTIAX made less than VMMXX
|
105/266 = 39.5%
|
| Average underperformance versus VMMXX over those 105 periods
|
-$1516.59
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$5383.16
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$446.71
|
| Link to Morningstar chart of worst period
|
VTIAX vs VMMXX, 3/2008 - 2/2009
|
VTIAX Dollars
| Number of periods in which VTIAX lost money
|
91/266 = 34.2%
|
| Average loss over those 91 periods
|
-$1490.97
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$5149.92
|
| Average return, averaged over 12-month periods
|
+$675.42
|
| Link to Morningstar chart of worst period
|
VTIAX 3/2008 - 2/2009
|
VTIAX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VTIAX failed to keep up with inflation (had negative real return)
|
100/266 = 37.6%
|
| Average real loss over those 100 periods
|
-$1529.90
|
| Worst single 12-month performance, 11/2007 - 10/2008
|
-$5222.38
|
| Average real return, averaged over 12-month periods
|
+$460.50
|
| Link to Morningstar chart of worst period
|
VTIAX 11/2007 - 10/2008
|
VTSAX: Vanguard Total Stock Market Index
VTSAX: Vanguard Total Stock Market Index
6/1992 - 6/2019; 325 months total
(limited by start of available data for VTSAX, and by end of available data for VMMXX data)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
314
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$1102.15
|
| Average CAGR (annualized rate of return) of those 314 12-month periods
|
11.02%
|
| Standard deviation (σ) of single-month returns, annualized)
|
14.54%
|
Vanguard's risk potential classification
Risk level 4
(moderate to aggressive)
|
Vanguard funds classified as moderate to aggressive are broadly diversified but are subject to wide fluctuations in share prices because they hold virtually all of their assets in common stocks. These funds may be appropriate for investors who have a long-term investment horizon (10 years or longer).
|
VTSAX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VTSAX made less than VMMXX
|
71/314 = 22.6%
|
| Average underperformance versus VMMXX over those 71 periods
|
-$1608.65
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4548.42
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$839.77
|
| Link to Morningstar chart of worst period
|
VTSAX vs VMMXX, 3/2008 - 2/2009
|
VTSAX Dollars
| Number of periods in which VTSAX lost money
|
61/314 = 19.4%
|
| Average loss over those 61 periods
|
-$1535.53
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4315.17
|
| Average return, averaged over 12-month periods
|
+$1102.15
|
| Link to Morningstar chart of worst period
|
VTSAX 3/2008 - 2/2009
|
VTSAX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VTSAX failed to keep up with inflation (had negative real return)
|
70/314 = 22.3%
|
| Average real loss over those 70 periods
|
-$1531.48
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4338.79
|
| Average real return, averaged over 12-month periods
|
+$877.38
|
| Link to Morningstar chart of worst period
|
VTSAX 3/2008 - 2/2009
|
VTSMX: Vanguard Total Stock Market Index
VTSMX: Vanguard Total Stock Market Index
6/1992 - 6/2019; 325 months total
(limited by range of available data for VTSMX)
| Length of holding period
|
12 months
|
| Total number of overlapping 12-month periods
|
314
|
| Average number of dollars earned in 12 months on a $10,000 investment
|
$1094.91
|
| Average CAGR (annualized rate of return) of those 314 12-month periods
|
10.95%
|
| Standard deviation (σ) of single-month returns, annualized)
|
14.53%
|
Vanguard's risk potential classification
Risk level 4
(moderate to aggressive)
|
Vanguard funds classified as moderate to aggressive are broadly diversified but are subject to wide fluctuations in share prices because they hold virtually all of their assets in common stocks. These funds may be appropriate for investors who have a long-term investment horizon (10 years or longer).
|
VTSMX compared to VMMXX: Vanguard Prime Money Market
| Number of periods in which VTSMX made less than VMMXX
|
71/314 = 22.6%
|
| Average underperformance versus VMMXX over those 71 periods
|
-$1613.55
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4551.13
|
| Reward for that risk: additional return above VMMXX, averaged over 12-month periods
|
+$832.52
|
| Link to Morningstar chart of worst period
|
VTSMX vs VMMXX, 3/2008 - 2/2009
|
VTSMX Dollars
| Number of periods in which VTSMX lost money
|
61/314 = 19.4%
|
| Average loss over those 61 periods
|
-$1540.89
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4317.88
|
| Average return, averaged over 12-month periods
|
+$1094.91
|
| Link to Morningstar chart of worst period
|
VTSMX 3/2008 - 2/2009
|
VTSMX Real return (relative to dollars at start plus 12 months' inflation)
| Number of periods in which VTSMX failed to keep up with inflation (had negative real return)
|
71/314 = 22.6%
|
| Average real loss over those 71 periods
|
-$1515.22
|
| Worst single 12-month performance, 3/2008 - 2/2009
|
-$4341.50
|
| Average real return, averaged over 12-month periods
|
+$870.14
|
| Link to Morningstar chart of worst period
|
VTSMX 3/2008 - 2/2009
|
Notes
- ↑ John Bogle, in his 1994 classic, Bogle on Mutual Funds, suggested using a low-cost short-term treasury bond fund, with its government backed credit rating, as a prudent substitute for a money market fund for investment reserves distinct from savings and transaction account balances. (p.132 in the text)
- ↑ For funds and ETFs, calculations are based on data made publicly available free of charge from Morningstar. Data for the CPI is CPI-U, "CPI for All Urban Consumers," not seasonally adjusted, obtained from the Bureau of Labor Statistics.
Notes for editors
Edit the "introduction" and "notes" section if you can express your idea better by doing rather than describing.
In the case of the individual fund description themselves, which form the bulk of the article, they are software-generated. I have added one, VARIX, specifically for editing; if you have ideas about changes in wording or formatting, make them here.
| This user subpage is a work in progress article and currently isn't part of the Bogleheads wiki. It may or may not be incorporated into an article in the future. It should not necessarily be considered factual nor accurate. Please feel free to edit this page, or leave comments on its talk page. |
