EFIPX vs. VMBSX
EFIPX (Fidelity Advisor Limited Term Bond Fund Class I) and VMBSX (Vanguard Mortgage-Backed Securities Index Fund Admiral Shares) are both Total Bond Market funds. Over the past 10 years, EFIPX returned 2.22%/yr vs 1.84%/yr for VMBSX. A 0.73 correlation means they provide meaningful diversification when combined. EFIPX charges 0.50%/yr vs 0.07%/yr for VMBSX.
Performance
EFIPX vs. VMBSX - Performance Comparison
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Returns By Period
In the year-to-date period, EFIPX achieves a 0.37% return, which is significantly lower than VMBSX's 0.81% return. Over the past 10 years, EFIPX has outperformed VMBSX with an annualized return of 2.22%, while VMBSX has yielded a comparatively lower 1.84% annualized return.
EFIPX
- 1D
- -0.17%
- 1M
- 0.26%
- YTD
- 0.37%
- 6M
- 0.79%
- 1Y
- 3.88%
- 3Y*
- 5.16%
- 5Y*
- 1.98%
- 10Y*
- 2.22%
VMBSX
- 1D
- -0.21%
- 1M
- 0.67%
- YTD
- 0.81%
- 6M
- 0.97%
- 1Y
- 5.76%
- 3Y*
- 4.54%
- 5Y*
- 0.57%
- 10Y*
- 1.84%
EFIPX vs. VMBSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EFIPX Fidelity Advisor Limited Term Bond Fund Class I | 0.37% | 6.70% | 4.34% | 6.01% | -6.35% | -1.41% | 5.13% | 6.00% | 0.68% | 1.84% |
VMBSX Vanguard Mortgage-Backed Securities Index Fund Admiral Shares | 0.81% | 8.43% | 1.76% | 4.99% | -11.56% | -1.35% | 3.74% | 11.47% | 0.87% | 2.32% |
Correlation
The correlation between EFIPX and VMBSX is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.73 |
The correlation between EFIPX and VMBSX has been stable across timeframes, ranging from 0.73 to 0.83 - a consistent structural relationship.
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Return for Risk
EFIPX vs. VMBSX — Risk / Return Rank
EFIPX
VMBSX
EFIPX vs. VMBSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Limited Term Bond Fund Class I (EFIPX) and Vanguard Mortgage-Backed Securities Index Fund Admiral Shares (VMBSX). 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.
| EFIPX | VMBSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.29 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 2.25 | +0.20 |
| Martin ratioReturn relative to average drawdown | 9.15 | 7.15 | +1.99 |
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Drawdowns
EFIPX vs. VMBSX - Drawdown Comparison
The maximum EFIPX drawdown since its inception was -13.33%, smaller than the maximum VMBSX drawdown of -17.44%. Use the drawdown chart below to compare losses from any high point for EFIPX and VMBSX.
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Drawdown Indicators
| EFIPX | VMBSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.33% | -17.44% | +4.11% |
Max Drawdown (1Y)Largest decline over 1 year | -1.63% | -2.67% | +1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -1.63% | -7.53% | +5.90% |
Max Drawdown (5Y)Largest decline over 5 years | -9.76% | -17.12% | +7.36% |
Max Drawdown (10Y)Largest decline over 10 years | -9.96% | -17.44% | +7.48% |
Current DrawdownCurrent decline from peak | -0.61% | -1.22% | +0.61% |
Average DrawdownAverage peak-to-trough decline | -1.90% | -2.48% | +0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.84% | -0.41% |
Volatility
EFIPX vs. VMBSX - Volatility Comparison
The current volatility for Fidelity Advisor Limited Term Bond Fund Class I (EFIPX) is 0.83%, while Vanguard Mortgage-Backed Securities Index Fund Admiral Shares (VMBSX) has a volatility of 1.21%. This indicates that EFIPX experiences smaller price fluctuations and is considered to be less risky than VMBSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EFIPX | VMBSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 1.21% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 1.75% | 2.85% | -1.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.30% | 3.78% | -1.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.81% | 6.41% | -3.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.43% | 4.87% | -2.44% |
EFIPX vs. VMBSX - Expense Ratio Comparison
EFIPX has a 0.50% expense ratio, which is higher than VMBSX's 0.07% expense ratio.
Dividends
EFIPX vs. VMBSX - Dividend Comparison
EFIPX's dividend yield for the trailing twelve months is around 4.09%, less than VMBSX's 4.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EFIPX Fidelity Advisor Limited Term Bond Fund Class I | 4.09% | 3.93% | 2.81% | 2.15% | 1.20% | 1.21% | 2.35% | 2.41% | 2.26% | 1.74% | 1.82% | 1.55% |
VMBSX Vanguard Mortgage-Backed Securities Index Fund Admiral Shares | 4.16% | 4.18% | 4.24% | 3.28% | 2.31% | 0.99% | 2.00% | 7.48% | 2.72% | 2.16% | 1.98% | 2.01% |
Frequently Asked Questions
EFIPX and VMBSX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VMBSX has higher volatility (1.21%) compared to EFIPX (0.83%). In terms of maximum drawdown, EFIPX dropped -13.33% vs VMBSX's -17.44%.
EFIPX currently has the higher Sharpe Ratio (1.74 vs 1.59), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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