FHNFX vs. VGSH
Compare and contrast key facts about Fidelity Series Government Bond Index Fund (FHNFX) and Vanguard Short-Term Treasury ETF (VGSH).
FHNFX is managed by Fidelity. It was launched on Aug 17, 2018. VGSH is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Treasury 1-3 Year Index. It was launched on Nov 19, 2009.
Performance
FHNFX vs. VGSH - Performance Comparison
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FHNFX vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FHNFX Fidelity Series Government Bond Index Fund | -0.27% | 7.52% | 1.03% | 4.03% | -12.72% | -2.54% | 7.50% | 6.82% | 1.65% |
VGSH Vanguard Short-Term Treasury ETF | 0.28% | 5.07% | 4.00% | 4.31% | -3.86% | -0.60% | 3.04% | 3.52% | 1.20% |
Returns By Period
In the year-to-date period, FHNFX achieves a -0.27% return, which is significantly lower than VGSH's 0.28% return.
FHNFX
- 1D
- 0.55%
- 1M
- -2.04%
- YTD
- -0.27%
- 6M
- 0.46%
- 1Y
- 3.24%
- 3Y*
- 2.96%
- 5Y*
- 0.03%
- 10Y*
- —
VGSH
- 1D
- 0.09%
- 1M
- -0.49%
- YTD
- 0.28%
- 6M
- 1.37%
- 1Y
- 3.75%
- 3Y*
- 3.98%
- 5Y*
- 1.79%
- 10Y*
- 1.74%
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FHNFX vs. VGSH - Expense Ratio Comparison
FHNFX has a 0.00% expense ratio, which is lower than VGSH's 0.03% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
FHNFX vs. VGSH — Risk / Return Rank
FHNFX
VGSH
FHNFX vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Government Bond Index Fund (FHNFX) and Vanguard Short-Term Treasury ETF (VGSH). 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.
| FHNFX | VGSH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.97 | 2.62 | -1.65 |
Sortino ratioReturn per unit of downside risk | 1.45 | 4.21 | -2.76 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.57 | -0.40 |
Calmar ratioReturn relative to maximum drawdown | 1.83 | 4.26 | -2.43 |
Martin ratioReturn relative to average drawdown | 4.93 | 16.28 | -11.35 |
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
| FHNFX | VGSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 2.62 | -1.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 0.92 | -0.91 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 1.02 | -0.74 |
Correlation
The correlation between FHNFX and VGSH is 0.77, 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
FHNFX vs. VGSH - Dividend Comparison
FHNFX's dividend yield for the trailing twelve months is around 3.76%, less than VGSH's 3.95% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHNFX Fidelity Series Government Bond Index Fund | 3.76% | 4.91% | 3.69% | 2.50% | 1.30% | 0.86% | 2.69% | 2.78% | 1.02% | 0.00% | 0.00% | 0.00% |
VGSH Vanguard Short-Term Treasury ETF | 3.95% | 4.00% | 4.18% | 3.31% | 1.15% | 0.66% | 1.74% | 2.28% | 1.79% | 1.10% | 0.84% | 0.69% |
Drawdowns
FHNFX vs. VGSH - Drawdown Comparison
The maximum FHNFX drawdown since its inception was -19.42%, which is greater than VGSH's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for FHNFX and VGSH.
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Drawdown Indicators
| FHNFX | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.42% | -5.70% | -13.72% |
Max Drawdown (1Y)Largest decline over 1 year | -2.57% | -0.88% | -1.69% |
Max Drawdown (5Y)Largest decline over 5 years | -16.71% | -5.70% | -11.01% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.70% | — |
Current DrawdownCurrent decline from peak | -6.28% | -0.49% | -5.79% |
Average DrawdownAverage peak-to-trough decline | -7.76% | -0.60% | -7.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.23% | +0.72% |
Volatility
FHNFX vs. VGSH - Volatility Comparison
Fidelity Series Government Bond Index Fund (FHNFX) has a higher volatility of 1.41% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.52%. This indicates that FHNFX's price experiences larger fluctuations and is considered to be riskier than VGSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHNFX | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 0.52% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 0.84% | +1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.29% | 1.44% | +2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.75% | 1.96% | +3.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.46% | 1.57% | +3.89% |