FEPAX vs. VFIIX
FEPAX (Fidelity Advisor Total Bond Fund Class A) and VFIIX (Vanguard GNMA Fund Investor Shares) are both Total Bond Market funds. Over the past 10 years, FEPAX returned 1.74%/yr vs 1.15%/yr for VFIIX. Their correlation of 0.83 means they have usually moved in the same direction. FEPAX charges 0.75%/yr vs 0.21%/yr for VFIIX.
Performance
FEPAX vs. VFIIX - Performance Comparison
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Returns By Period
In the year-to-date period, FEPAX achieves a -0.91% return, which is significantly lower than VFIIX's -0.19% return. Over the past 10 years, FEPAX has outperformed VFIIX with an annualized return of 1.74%, while VFIIX has yielded a comparatively lower 1.15% annualized return.
FEPAX
- 1D
- -0.21%
- 1M
- -1.47%
- 6M
- -0.92%
- YTD
- -0.91%
- 1Y
- 1.47%
- 3Y*
- 3.73%
- 5Y*
- -0.42%
- 10Y*
- 1.74%
- ALL TIME*
- 3.40%
VFIIX
- 1D
- -0.32%
- 1M
- -1.17%
- 6M
- -0.50%
- YTD
- -0.19%
- 1Y
- 2.87%
- 3Y*
- 4.21%
- 5Y*
- 0.23%
- 10Y*
- 1.15%
- ALL TIME*
- 3.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FEPAX vs. VFIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FEPAX Fidelity Advisor Total Bond Fund Class A | -0.91% | 7.18% | 1.16% | 6.54% | -13.76% | -0.56% | 9.02% | 9.55% | -1.07% | 3.79% |
VFIIX Vanguard GNMA Fund Investor Shares | -0.19% | 7.73% | 1.07% | 5.17% | -10.81% | -1.24% | 3.73% | 5.84% | 0.89% | 1.88% |
Correlation
The correlation between FEPAX and VFIIX is 0.92, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2004 | 0.83 |
The correlation between FEPAX and VFIIX shifts across timeframes, from 0.83 (all time) to 0.94 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FEPAX vs. VFIIX — Risk / Return Rank
FEPAX
VFIIX
FEPAX vs. VFIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Total Bond Fund Class A (FEPAX) and Vanguard GNMA Fund Investor Shares (VFIIX). 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.
| FEPAX | VFIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.17 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 1.33 | -0.54 |
| Martin ratioReturn relative to average drawdown | 1.93 | 3.64 | -1.71 |
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Drawdowns
FEPAX vs. VFIIX - Drawdown Comparison
The maximum FEPAX drawdown since its inception was -18.52%, smaller than the maximum VFIIX drawdown of -25.80%. Use the drawdown chart below to compare losses from any high point for FEPAX and VFIIX.
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Drawdown Indicators
| FEPAX | VFIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.52% | -25.80% | +7.28% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -2.83% | -0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -4.92% | -6.02% | +1.10% |
Max Drawdown (5Y)Largest decline over 5 years | -18.52% | -15.76% | -2.76% |
Max Drawdown (10Y)Largest decline over 10 years | -18.52% | -16.20% | -2.32% |
Current DrawdownCurrent decline from peak | -2.71% | -2.34% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -2.62% | -2.97% | +0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 1.04% | +0.17% |
Volatility
FEPAX vs. VFIIX - Volatility Comparison
The current volatility for Fidelity Advisor Total Bond Fund Class A (FEPAX) is 0.92%, while Vanguard GNMA Fund Investor Shares (VFIIX) has a volatility of 1.07%. This indicates that FEPAX experiences smaller price fluctuations and is considered to be less risky than VFIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEPAX | VFIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 1.07% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 3.15% | -0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 3.95% | -0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.66% | 6.24% | -0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.73% | 4.72% | +0.01% |
FEPAX vs. VFIIX - Expense Ratio Comparison
FEPAX has a 0.75% expense ratio, which is higher than VFIIX's 0.21% expense ratio.
Dividends
FEPAX vs. VFIIX - Dividend Comparison
FEPAX's dividend yield for the trailing twelve months is around 3.76%, more than VFIIX's 3.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEPAX Fidelity Advisor Total Bond Fund Class A | 3.76% | 4.07% | 3.18% | 3.51% | 2.29% | 1.68% | 4.93% | 2.73% | 2.87% | 2.49% | 3.28% | 3.01% |
VFIIX Vanguard GNMA Fund Investor Shares | 3.43% | 3.62% | 3.58% | 3.23% | 2.34% | 0.63% | 1.87% | 2.76% | 2.90% | 2.64% | 3.01% | 2.84% |
Frequently Asked Questions
With a correlation of 0.92, FEPAX and VFIIX 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.
VFIIX has higher volatility (1.07%) compared to FEPAX (0.92%). In terms of maximum drawdown, FEPAX dropped -18.52% vs VFIIX's -25.80%.
VFIIX currently has the higher Sharpe Ratio (0.96 vs 0.63), 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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