FBND vs. VGSH
FBND (Fidelity Total Bond ETF) and VGSH (Vanguard Short-Term Treasury ETF) are both exchange-traded funds - FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity, while VGSH is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. FBND is actively managed, while VGSH is passively managed. Over the past 10 years, FBND returned 2.56%/yr vs 1.74%/yr for VGSH. A 0.64 correlation means they provide meaningful diversification when combined. FBND charges 0.36%/yr vs 0.03%/yr for VGSH.
Performance
FBND vs. VGSH - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FBND having a 0.50% return and VGSH slightly lower at 0.48%. Over the past 10 years, FBND has outperformed VGSH with an annualized return of 2.56%, while VGSH has yielded a comparatively lower 1.74% annualized return.
FBND
- 1D
- -0.20%
- 1M
- 0.31%
- YTD
- 0.50%
- 6M
- 0.30%
- 1Y
- 5.59%
- 3Y*
- 4.70%
- 5Y*
- 0.83%
- 10Y*
- 2.56%
VGSH
- 1D
- -0.03%
- 1M
- 0.08%
- YTD
- 0.48%
- 6M
- 0.74%
- 1Y
- 3.43%
- 3Y*
- 4.15%
- 5Y*
- 1.81%
- 10Y*
- 1.74%
FBND vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FBND Fidelity Total Bond ETF | 0.50% | 7.57% | 2.13% | 6.81% | -12.54% | -0.43% | 9.41% | 9.82% | -0.57% | 3.52% |
VGSH Vanguard Short-Term Treasury ETF | 0.48% | 5.07% | 4.00% | 4.31% | -3.86% | -0.60% | 3.04% | 3.52% | 1.55% | 0.04% |
Correlation
The correlation between FBND and VGSH is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2014 | 0.64 |
The correlation between FBND and VGSH shifts across timeframes, from 0.64 (all time) to 0.81 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FBND vs. VGSH — Risk / Return Rank
FBND
VGSH
FBND vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Total Bond ETF (FBND) and Vanguard Short-Term Treasury ETF (VGSH). 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.
| FBND | VGSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.22 | ||
| Sortino ratioReturn per unit of downside risk | -2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.57 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 3.90 | -1.79 |
| Martin ratioReturn relative to average drawdown | 6.37 | 15.52 | -9.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FBND | VGSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 2.68 | -1.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.93 | -0.78 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 1.11 | -0.68 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 1.01 | -0.57 |
Drawdowns
FBND vs. VGSH - Drawdown Comparison
The maximum FBND drawdown since its inception was -17.25%, which is greater than VGSH's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for FBND and VGSH.
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Drawdown Indicators
| FBND | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.25% | -5.70% | -11.55% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -0.88% | -1.78% |
Max Drawdown (3Y)Largest decline over 3 years | -5.94% | -0.97% | -4.97% |
Max Drawdown (5Y)Largest decline over 5 years | -17.25% | -5.66% | -11.59% |
Max Drawdown (10Y)Largest decline over 10 years | -17.25% | -5.70% | -11.55% |
Current DrawdownCurrent decline from peak | -1.43% | -0.29% | -1.14% |
Average DrawdownAverage peak-to-trough decline | -3.35% | -0.60% | -2.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 0.22% | +0.66% |
Volatility
FBND vs. VGSH - Volatility Comparison
Fidelity Total Bond ETF (FBND) has a higher volatility of 1.27% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.35%. This indicates that FBND's price experiences larger fluctuations and is considered to be riskier than VGSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBND | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 0.35% | +0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 2.73% | 0.88% | +1.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.86% | 1.29% | +2.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 1.97% | +3.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.10% | 1.57% | +4.53% |
FBND vs. VGSH - Expense Ratio Comparison
FBND has a 0.36% expense ratio, which is higher than VGSH's 0.03% expense ratio.
Dividends
FBND vs. VGSH - Dividend Comparison
FBND's dividend yield for the trailing twelve months is around 4.70%, more than VGSH's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBND Fidelity Total Bond ETF | 4.70% | 4.70% | 4.73% | 4.26% | 3.07% | 1.86% | 4.25% | 2.90% | 2.93% | 2.56% | 2.84% | 3.26% |
VGSH Vanguard Short-Term Treasury ETF | 3.87% | 4.00% | 4.18% | 3.31% | 1.15% | 0.66% | 1.74% | 2.28% | 1.79% | 1.10% | 0.84% | 0.69% |
Frequently Asked Questions
FBND and VGSH have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBND has higher volatility (1.27%) compared to VGSH (0.35%). In terms of maximum drawdown, FBND dropped -17.25% vs VGSH's -5.70%.
On 10-year performance, FBND leads with 2.56% vs 1.74% for VGSH. On fees, VGSH is cheaper at 0.03% per year. On volatility, VGSH has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FBND has performed better with a 2.56% return vs 1.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGSH is cheaper with a 0.03% expense ratio, compared with 0.36% for FBND.
FBND has the higher dividend yield at 4.70%, compared with 3.87% for VGSH.
FBND is categorized as Intermediate Core-Plus Bond, while VGSH is Government Bonds. They also come from different issuers: Fidelity and Vanguard. Their fees differ too: 0.36% for FBND and 0.03% for VGSH.
VGSH currently has the higher Sharpe Ratio (2.68 vs 1.46), 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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