FCNVX vs. VUBFX
FCNVX (Fidelity Conservative Income Bond Institutional Class) and VUBFX (Vanguard Ultra-Short-Term Bond Fund Investor Shares) are both Total Bond Market funds. Over the past 10 years, FCNVX returned 2.58%/yr vs 2.61%/yr for VUBFX. At a 0.23 correlation, their price movements are largely independent. FCNVX charges 0.25%/yr vs 0.20%/yr for VUBFX.
Performance
FCNVX vs. VUBFX - Performance Comparison
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Returns By Period
In the year-to-date period, FCNVX achieves a 1.50% return, which is significantly higher than VUBFX's 1.37% return. Both investments have delivered pretty close results over the past 10 years, with FCNVX having a 2.58% annualized return and VUBFX not far ahead at 2.61%.
FCNVX
- 1D
- 0.00%
- 1M
- 0.33%
- YTD
- 1.50%
- 6M
- 1.85%
- 1Y
- 4.14%
- 3Y*
- 5.03%
- 5Y*
- 3.58%
- 10Y*
- 2.58%
VUBFX
- 1D
- 0.00%
- 1M
- 0.35%
- YTD
- 1.37%
- 6M
- 1.75%
- 1Y
- 4.30%
- 3Y*
- 5.33%
- 5Y*
- 3.40%
- 10Y*
- 2.61%
FCNVX vs. VUBFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCNVX Fidelity Conservative Income Bond Institutional Class | 1.50% | 4.51% | 5.43% | 5.86% | 0.85% | -0.06% | 1.10% | 3.00% | 1.82% | 1.42% |
VUBFX Vanguard Ultra-Short-Term Bond Fund Investor Shares | 1.37% | 5.04% | 5.99% | 5.43% | -0.53% | 0.03% | 1.95% | 3.34% | 1.94% | 1.23% |
Correlation
The correlation between FCNVX and VUBFX is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016 | 0.23 |
The correlation between FCNVX and VUBFX shifts across timeframes, from 0.05 (1 year) to 0.28 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FCNVX vs. VUBFX — Risk / Return Rank
FCNVX
VUBFX
FCNVX vs. VUBFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Conservative Income Bond Institutional Class (FCNVX) and Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX). 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.
| FCNVX | VUBFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.11 | ||
| Sortino ratioReturn per unit of downside risk | +11.25 | ||
| Omega ratioGain probability vs. loss probability | 14.09 | 4.52 | +9.57 |
| Calmar ratioReturn relative to maximum drawdown | 42.87 | 14.79 | +28.08 |
| Martin ratioReturn relative to average drawdown | 146.17 | 83.04 | +63.12 |
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
| FCNVX | VUBFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.60 | 5.71 | -2.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.79 | 3.47 | -0.68 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 2.48 | 3.14 | -0.66 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.20 | 3.11 | -0.90 |
Drawdowns
FCNVX vs. VUBFX - Drawdown Comparison
The maximum FCNVX drawdown since its inception was -2.19%, which is greater than VUBFX's maximum drawdown of -1.86%. Use the drawdown chart below to compare losses from any high point for FCNVX and VUBFX.
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Drawdown Indicators
| FCNVX | VUBFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.19% | -1.86% | -0.33% |
Max Drawdown (1Y)Largest decline over 1 year | -0.10% | -0.30% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -0.30% | -0.30% | 0.00% |
Max Drawdown (5Y)Largest decline over 5 years | -0.59% | -1.86% | +1.27% |
Max Drawdown (10Y)Largest decline over 10 years | -2.19% | -1.86% | -0.33% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.05% | -0.17% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 0.05% | -0.02% |
Volatility
FCNVX vs. VUBFX - Volatility Comparison
Fidelity Conservative Income Bond Institutional Class (FCNVX) has a higher volatility of 0.33% compared to Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX) at 0.17%. This indicates that FCNVX's price experiences larger fluctuations and is considered to be riskier than VUBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCNVX | VUBFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.33% | 0.17% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 0.78% | 0.54% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.18% | 0.77% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.29% | 0.98% | +0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.04% | 0.83% | +0.21% |
FCNVX vs. VUBFX - Expense Ratio Comparison
FCNVX has a 0.25% expense ratio, which is higher than VUBFX's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FCNVX vs. VUBFX - Dividend Comparison
FCNVX's dividend yield for the trailing twelve months is around 4.15%, less than VUBFX's 4.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCNVX Fidelity Conservative Income Bond Institutional Class | 4.15% | 4.41% | 5.17% | 4.97% | 1.24% | 0.24% | 0.99% | 2.45% | 2.21% | 1.30% | 1.01% | 0.48% |
VUBFX Vanguard Ultra-Short-Term Bond Fund Investor Shares | 4.42% | 4.62% | 5.42% | 4.06% | 1.28% | 0.43% | 1.52% | 2.58% | 2.13% | 1.43% | 0.98% | 0.00% |
Frequently Asked Questions
FCNVX and VUBFX have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCNVX has higher volatility (0.33%) compared to VUBFX (0.17%). In terms of maximum drawdown, FCNVX dropped -2.19% vs VUBFX's -1.86%.
VUBFX currently has the higher Sharpe Ratio (5.71 vs 3.60), 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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