FGBCX vs. VBTIX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Advisor Investment Grade Bond Fund Class C (FGBCX) and Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX).

FGBCX is managed by Fidelity. It was launched on Aug 27, 2002. VBTIX is managed by Vanguard. It was launched on Sep 18, 1995.

Performance

FGBCX vs. VBTIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Investment Grade Bond Fund Class C (FGBCX) and Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX). The values are adjusted to include any dividend payments, if applicable.

FGBCX vs. VBTIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FGBCX Fidelity Advisor Investment Grade Bond Fund Class C	-0.53%	6.08%	0.04%	5.09%	-14.63%	-1.98%	8.73%	8.49%	-1.43%	2.68%
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares	-0.49%	7.18%	1.27%	5.75%	-13.15%	-1.95%	7.75%	8.74%	-0.24%	3.56%

Returns By Period

In the year-to-date period, FGBCX achieves a -0.53% return, which is significantly lower than VBTIX's -0.49% return. Over the past 10 years, FGBCX has underperformed VBTIX with an annualized return of 1.17%, while VBTIX has yielded a comparatively higher 1.59% annualized return.

FGBCX

• 1D: 0.56%
• 1M: -2.29%
• YTD: -0.53%
• 6M: 0.05%
• 1Y: 2.91%
• 3Y*: 2.51%
• 5Y*: -0.76%
• 10Y*: 1.17%

VBTIX

• 1D: 0.52%
• 1M: -2.23%
• YTD: -0.49%
• 6M: 0.50%
• 1Y: 3.78%
• 3Y*: 3.45%
• 5Y*: 0.25%
• 10Y*: 1.59%

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

FGBCX vs. VBTIX - Expense Ratio Comparison

FGBCX has a 1.53% expense ratio, which is higher than VBTIX's 0.04% expense ratio.

FGBCX

Fidelity Advisor Investment Grade Bond Fund Class C

VBTIX

Vanguard Total Bond Market Index Fund Institutional Shares

Return for Risk

FGBCX vs. VBTIX — Risk / Return Rank

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

FGBCX

FGBCX Risk / Return Rank: 36
FGBCX Sharpe Ratio Rank: 33
FGBCX Sortino Ratio Rank: 31
FGBCX Omega Ratio Rank: 24
FGBCX Calmar Ratio Rank: 57
FGBCX Martin Ratio Rank: 36

VBTIX

VBTIX Risk / Return Rank: 56
VBTIX Sharpe Ratio Rank: 55
VBTIX Sortino Ratio Rank: 55
VBTIX Omega Ratio Rank: 40
VBTIX Calmar Ratio Rank: 77
VBTIX Martin Ratio Rank: 53

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.

FGBCX vs. VBTIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Investment Grade Bond Fund Class C (FGBCX) and Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX). 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.

	FGBCX	VBTIX	Difference
Sharpe ratio Return per unit of total volatility	0.77	1.00	-0.23
Sortino ratio Return per unit of downside risk	1.12	1.45	-0.33
Omega ratio Gain probability vs. loss probability	1.14	1.18	-0.04
Calmar ratio Return relative to maximum drawdown	1.37	1.79	-0.42
Martin ratio Return relative to average drawdown	3.85	5.10	-1.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FGBCX vs. VBTIX - Sharpe Ratio Comparison

The current FGBCX Sharpe Ratio is 0.77, which is comparable to the VBTIX Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of FGBCX and VBTIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FGBCX	VBTIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.77	1.00	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.13	0.04	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	0.32	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.94	-0.58

Correlation

The correlation between FGBCX and VBTIX is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FGBCX vs. VBTIX - Dividend Comparison

FGBCX's dividend yield for the trailing twelve months is around 2.60%, less than VBTIX's 3.63% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGBCX Fidelity Advisor Investment Grade Bond Fund Class C	2.60%	2.82%	2.44%	2.27%	1.10%	0.47%	3.73%	1.69%	1.76%	0.99%	1.54%	1.64%
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares	3.63%	3.88%	3.69%	3.12%	2.61%	1.81%	2.41%	2.75%	2.58%	2.56%	2.54%	2.84%

Drawdowns

FGBCX vs. VBTIX - Drawdown Comparison

The maximum FGBCX drawdown since its inception was -19.98%, which is greater than VBTIX's maximum drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for FGBCX and VBTIX.

Drawdown Indicators

	FGBCX	VBTIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.98%	-18.90%	-1.08%
Max Drawdown (1Y) Largest decline over 1 year	-2.83%	-2.73%	-0.10%
Max Drawdown (5Y) Largest decline over 5 years	-19.42%	-18.13%	-1.29%
Max Drawdown (10Y) Largest decline over 10 years	-19.98%	-18.90%	-1.08%
Current Drawdown Current decline from peak	-7.47%	-3.14%	-4.33%
Average Drawdown Average peak-to-trough decline	-5.26%	-2.32%	-2.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	0.96%	+0.05%

Volatility

FGBCX vs. VBTIX - Volatility Comparison

Fidelity Advisor Investment Grade Bond Fund Class C (FGBCX) and Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) have volatilities of 1.53% and 1.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGBCX	VBTIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.53%	1.55%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.52%	2.58%	-0.06%
Volatility (1Y) Calculated over the trailing 1-year period	4.31%	4.36%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.91%	5.99%	-0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.94%	4.97%	-0.03%