FBNTX vs. VTBNX

Last updated Jun 3, 2026

FBNTX (Fidelity Advisor Short-Term Bond Fund Class M) and VTBNX (Vanguard Total Bond Market II Index Fund) are both Total Bond Market funds. Over the past 5 years, FBNTX returned 1.98%/yr vs 0.17%/yr for VTBNX. A 0.69 correlation means they provide meaningful diversification when combined. FBNTX charges 0.65%/yr vs 0.02%/yr for VTBNX.

Performance

FBNTX vs. VTBNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Short-Term Bond Fund Class M (FBNTX) and Vanguard Total Bond Market II Index Fund (VTBNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBNTX achieves a 0.60% return, which is significantly higher than VTBNX's 0.33% return.

FBNTX

• 1D: 0.00%
• 1M: 0.08%
• YTD: 0.60%
• 6M: 0.90%
• 1Y: 3.53%
• 3Y*: 4.50%
• 5Y*: 1.98%
• 10Y*: —

VTBNX

• 1D: -0.11%
• 1M: 0.14%
• YTD: 0.33%
• 6M: 0.46%
• 1Y: 5.21%
• 3Y*: 4.01%
• 5Y*: 0.17%
• 10Y*: 1.55%

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

FBNTX vs. VTBNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBNTX Fidelity Advisor Short-Term Bond Fund Class M	0.60%	5.14%	4.62%	4.72%	-4.00%	-1.08%	3.60%	3.98%	0.96%	0.95%
VTBNX Vanguard Total Bond Market II Index Fund	0.33%	7.18%	1.32%	5.68%	-13.12%	-1.82%	7.39%	8.71%	-0.27%	3.62%

Correlation

The correlation between FBNTX and VTBNX is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jul 25, 2016	0.69

The correlation between FBNTX and VTBNX has been stable across timeframes, ranging from 0.69 to 0.74 - a consistent structural relationship.

Return for Risk

FBNTX vs. VTBNX — Risk / Return Rank

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

FBNTX

FBNTX Risk / Return Rank: 62
FBNTX Sharpe Ratio Rank: 43
FBNTX Sortino Ratio Rank: 73
FBNTX Omega Ratio Rank: 77
FBNTX Calmar Ratio Rank: 61
FBNTX Martin Ratio Rank: 56

VTBNX

VTBNX Risk / Return Rank: 20
VTBNX Sharpe Ratio Rank: 18
VTBNX Sortino Ratio Rank: 19
VTBNX Omega Ratio Rank: 16
VTBNX Calmar Ratio Rank: 25
VTBNX Martin Ratio Rank: 22

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FBNTX vs. VTBNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Short-Term Bond Fund Class M (FBNTX) and Vanguard Total Bond Market II Index Fund (VTBNX). 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.

	FBNTX	VTBNX	Difference
Sharpe ratio Return per unit of total volatility	1.93	1.25	+0.68
Sortino ratio Return per unit of downside risk	3.58	1.89	+1.69
Omega ratio Gain probability vs. loss probability	1.50	1.22	+0.29
Calmar ratio Return relative to maximum drawdown	3.02	1.93	+1.09
Martin ratio Return relative to average drawdown	11.28	5.80	+5.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBNTX vs. VTBNX - Sharpe Ratio Comparison

The current FBNTX Sharpe Ratio is 1.93, which is higher than the VTBNX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of FBNTX and VTBNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FBNTX	VTBNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	1.25	+0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	0.03	+0.89
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	0.38	+0.67

Drawdowns

FBNTX vs. VTBNX - Drawdown Comparison

The maximum FBNTX drawdown since its inception was -6.64%, smaller than the maximum VTBNX drawdown of -18.71%. Use the drawdown chart below to compare losses from any high point for FBNTX and VTBNX.

Drawdown Indicators

	FBNTX	VTBNX	Difference
Max Drawdown Largest peak-to-trough decline	-6.64%	-18.71%	+12.07%
Max Drawdown (1Y) Largest decline over 1 year	-1.29%	-2.83%	+1.54%
Max Drawdown (3Y) Largest decline over 3 years	-1.29%	-5.97%	+4.68%
Max Drawdown (5Y) Largest decline over 5 years	-6.42%	-18.05%	+11.63%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.71%	—
Current Drawdown Current decline from peak	-0.23%	-2.21%	+1.98%
Average Drawdown Average peak-to-trough decline	-1.02%	-4.87%	+3.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	0.94%	-0.60%

Volatility

FBNTX vs. VTBNX - Volatility Comparison

The current volatility for Fidelity Advisor Short-Term Bond Fund Class M (FBNTX) is 0.53%, while Vanguard Total Bond Market II Index Fund (VTBNX) has a volatility of 1.33%. This indicates that FBNTX experiences smaller price fluctuations and is considered to be less risky than VTBNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBNTX	VTBNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.53%	1.33%	-0.80%
Volatility (6M) Calculated over the trailing 6-month period	1.30%	2.81%	-1.51%
Volatility (1Y) Calculated over the trailing 1-year period	1.84%	3.93%	-2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.16%	5.96%	-3.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.82%	4.93%	-3.11%

FBNTX vs. VTBNX - Expense Ratio Comparison

FBNTX has a 0.65% expense ratio, which is higher than VTBNX's 0.02% expense ratio.

Dividends

FBNTX vs. VTBNX - Dividend Comparison

FBNTX's dividend yield for the trailing twelve months is around 3.96%, less than VTBNX's 4.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FBNTX Fidelity Advisor Short-Term Bond Fund Class M	3.96%	4.05%	3.79%	2.53%	0.67%	0.87%	2.51%	1.92%	1.54%	1.06%	0.40%
VTBNX Vanguard Total Bond Market II Index Fund	4.06%	3.95%	3.77%	3.13%	2.54%	1.82%	3.12%	2.79%	2.56%	2.52%	2.55%

Frequently Asked Questions

Can I hold both FBNTX and VTBNX in my portfolio?

FBNTX and VTBNX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FBNTX or VTBNX?

VTBNX has higher volatility (1.33%) compared to FBNTX (0.53%). In terms of maximum drawdown, FBNTX dropped -6.64% vs VTBNX's -18.71%.

Which has better risk-adjusted returns?

FBNTX currently has the higher Sharpe Ratio (1.93 vs 1.25), 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.