FBNDX vs. VCOBX
FBNDX (Fidelity Investment Grade Bond Fund) and VCOBX (Vanguard Core Bond Fund Admiral Shares) are both Intermediate Core Bond funds. Both are actively managed. Over the past 10 years, FBNDX returned 2.11%/yr vs 2.17%/yr for VCOBX. Their correlation of 0.93 suggests significant overlap in exposure. FBNDX charges 0.45%/yr vs 0.10%/yr for VCOBX.
Performance
FBNDX vs. VCOBX - Performance Comparison
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Returns By Period
In the year-to-date period, FBNDX achieves a 0.62% return, which is significantly lower than VCOBX's 1.10% return. Both investments have delivered pretty close results over the past 10 years, with FBNDX having a 2.11% annualized return and VCOBX not far ahead at 2.17%.
FBNDX
- 1D
- 0.42%
- 1M
- 0.89%
- YTD
- 0.62%
- 6M
- 0.80%
- 1Y
- 4.25%
- 3Y*
- 4.18%
- 5Y*
- 0.13%
- 10Y*
- 2.11%
VCOBX
- 1D
- 0.45%
- 1M
- 0.84%
- YTD
- 1.10%
- 6M
- 1.04%
- 1Y
- 4.73%
- 3Y*
- 5.00%
- 5Y*
- 0.65%
- 10Y*
- 2.17%
FBNDX vs. VCOBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FBNDX Fidelity Investment Grade Bond Fund | 0.62% | 7.37% | 0.93% | 6.51% | -14.04% | -1.13% | 9.79% | 9.82% | -0.35% | 3.92% |
VCOBX Vanguard Core Bond Fund Admiral Shares | 1.10% | 7.73% | 2.21% | 6.39% | -13.13% | -1.51% | 10.41% | 9.64% | -0.85% | 3.89% |
Correlation
The correlation between FBNDX and VCOBX is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2016 | 0.93 |
The correlation between FBNDX and VCOBX has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.
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Return for Risk
FBNDX vs. VCOBX — Risk / Return Rank
FBNDX
VCOBX
FBNDX vs. VCOBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Investment Grade Bond Fund (FBNDX) and Vanguard Core Bond Fund Admiral Shares (VCOBX). 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.
| FBNDX | VCOBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.24 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 1.86 | -0.45 |
| Martin ratioReturn relative to average drawdown | 3.93 | 5.23 | -1.30 |
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Drawdowns
FBNDX vs. VCOBX - Drawdown Comparison
The maximum FBNDX drawdown since its inception was -42.76%, which is greater than VCOBX's maximum drawdown of -18.14%. Use the drawdown chart below to compare losses from any high point for FBNDX and VCOBX.
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Drawdown Indicators
| FBNDX | VCOBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.76% | -18.14% | -24.62% |
Max Drawdown (1Y)Largest decline over 1 year | -3.02% | -2.62% | -0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -6.09% | -5.63% | -0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -18.74% | -18.03% | -0.71% |
Max Drawdown (10Y)Largest decline over 10 years | -18.74% | -18.14% | -0.60% |
Current DrawdownCurrent decline from peak | -1.35% | -0.75% | -0.60% |
Average DrawdownAverage peak-to-trough decline | -10.33% | -4.16% | -6.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 0.93% | +0.15% |
Volatility
FBNDX vs. VCOBX - Volatility Comparison
Fidelity Investment Grade Bond Fund (FBNDX) has a higher volatility of 1.24% compared to Vanguard Core Bond Fund Admiral Shares (VCOBX) at 1.12%. This indicates that FBNDX's price experiences larger fluctuations and is considered to be riskier than VCOBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBNDX | VCOBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.12% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 2.76% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 3.65% | +0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.04% | 5.79% | +0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.03% | 4.76% | +0.27% |
FBNDX vs. VCOBX - Expense Ratio Comparison
FBNDX has a 0.45% expense ratio, which is higher than VCOBX's 0.10% expense ratio.
Dividends
FBNDX vs. VCOBX - Dividend Comparison
FBNDX's dividend yield for the trailing twelve months is around 3.90%, less than VCOBX's 4.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBNDX Fidelity Investment Grade Bond Fund | 3.90% | 3.87% | 3.34% | 3.56% | 1.98% | 1.34% | 4.70% | 2.75% | 2.86% | 2.18% | 2.72% | 2.66% |
VCOBX Vanguard Core Bond Fund Admiral Shares | 4.71% | 4.80% | 5.04% | 4.44% | 3.01% | 1.23% | 3.09% | 3.08% | 3.10% | 2.20% | 2.29% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, FBNDX and VCOBX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FBNDX has higher volatility (1.24%) compared to VCOBX (1.12%). In terms of maximum drawdown, FBNDX dropped -42.76% vs VCOBX's -18.14%.
VCOBX currently has the higher Sharpe Ratio (1.34 vs 1.05), 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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