FHIGX vs. VCORX
FHIGX (Fidelity Municipal Income Fund) and VCORX (Vanguard Core Bond Fund Investor Shares) are both mutual funds - FHIGX is a Municipal Bonds fund managed by Fidelity, while VCORX is a Total Bond Market fund managed by Vanguard. Over the past 10 years, FHIGX returned 2.22%/yr vs 2.16%/yr for VCORX. At a 0.49 correlation, their price movements are largely independent. FHIGX charges 0.45%/yr vs 0.20%/yr for VCORX.
Performance
FHIGX vs. VCORX - Performance Comparison
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Returns By Period
In the year-to-date period, FHIGX achieves a 1.62% return, which is significantly higher than VCORX's 0.72% return. Both investments have delivered pretty close results over the past 10 years, with FHIGX having a 2.22% annualized return and VCORX not far behind at 2.16%.
FHIGX
- 1D
- 0.08%
- 1M
- 1.75%
- YTD
- 1.62%
- 6M
- 2.06%
- 1Y
- 7.25%
- 3Y*
- 4.33%
- 5Y*
- 0.87%
- 10Y*
- 2.22%
VCORX
- 1D
- 0.22%
- 1M
- 0.83%
- YTD
- 0.72%
- 6M
- 0.83%
- 1Y
- 5.04%
- 3Y*
- 4.69%
- 5Y*
- 0.33%
- 10Y*
- 2.16%
FHIGX vs. VCORX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FHIGX Fidelity Municipal Income Fund | 1.62% | 5.37% | 1.68% | 7.14% | -10.98% | 2.43% | 4.42% | 8.51% | 0.81% | 6.69% |
VCORX Vanguard Core Bond Fund Investor Shares | 0.72% | 7.68% | 2.10% | 5.90% | -13.27% | -0.80% | 10.19% | 9.47% | -0.92% | 4.34% |
Correlation
The correlation between FHIGX and VCORX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2016 | 0.49 |
The correlation between FHIGX and VCORX shifts across timeframes, from 0.47 (1 year) to 0.58 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FHIGX vs. VCORX — Risk / Return Rank
FHIGX
VCORX
FHIGX vs. VCORX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Municipal Income Fund (FHIGX) and Vanguard Core Bond Fund Investor Shares (VCORX). 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.
| FHIGX | VCORX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.20 | ||
| Sortino ratioReturn per unit of downside risk | +1.86 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.25 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 1.92 | +0.31 |
| Martin ratioReturn relative to average drawdown | 7.50 | 5.51 | +1.99 |
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Drawdowns
FHIGX vs. VCORX - Drawdown Comparison
The maximum FHIGX drawdown since its inception was -32.80%, which is greater than VCORX's maximum drawdown of -18.14%. Use the drawdown chart below to compare losses from any high point for FHIGX and VCORX.
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Drawdown Indicators
| FHIGX | VCORX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.80% | -18.14% | -14.66% |
Max Drawdown (1Y)Largest decline over 1 year | -3.27% | -2.64% | -0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -6.05% | -5.99% | -0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -16.18% | -18.14% | +1.96% |
Max Drawdown (10Y)Largest decline over 10 years | -16.18% | -18.14% | +1.96% |
Current DrawdownCurrent decline from peak | -0.64% | -1.06% | +0.42% |
Average DrawdownAverage peak-to-trough decline | -4.53% | -4.25% | -0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.92% | +0.05% |
Volatility
FHIGX vs. VCORX - Volatility Comparison
The current volatility for Fidelity Municipal Income Fund (FHIGX) is 0.76%, while Vanguard Core Bond Fund Investor Shares (VCORX) has a volatility of 1.09%. This indicates that FHIGX experiences smaller price fluctuations and is considered to be less risky than VCORX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHIGX | VCORX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 1.09% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 2.17% | 2.75% | -0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.82% | 3.65% | -0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.16% | 5.81% | -1.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.25% | 4.81% | -0.56% |
FHIGX vs. VCORX - Expense Ratio Comparison
FHIGX has a 0.45% expense ratio, which is higher than VCORX's 0.20% expense ratio.
Dividends
FHIGX vs. VCORX - Dividend Comparison
FHIGX's dividend yield for the trailing twelve months is around 3.08%, less than VCORX's 4.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHIGX Fidelity Municipal Income Fund | 3.08% | 4.00% | 2.98% | 2.83% | 1.81% | 2.64% | 2.79% | 3.16% | 3.66% | 4.45% | 4.88% | 3.65% |
VCORX Vanguard Core Bond Fund Investor Shares | 4.63% | 4.70% | 4.93% | 3.99% | 2.90% | 1.91% | 2.95% | 2.93% | 2.98% | 2.62% | 2.20% | 0.00% |
Frequently Asked Questions
FHIGX and VCORX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VCORX has higher volatility (1.09%) compared to FHIGX (0.76%). In terms of maximum drawdown, FHIGX dropped -32.80% vs VCORX's -18.14%.
FHIGX currently has the higher Sharpe Ratio (2.58 vs 1.39), 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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