FIKUX vs. VTBNX

Last updated Jun 4, 2026

FIKUX (Fidelity Advisor Mortgage Securities Fund Class Z) and VTBNX (Vanguard Total Bond Market II Index Fund) are both Total Bond Market funds. Over the past 5 years, FIKUX returned 0.24%/yr vs 0.20%/yr for VTBNX. Their correlation of 0.88 suggests significant overlap in exposure. FIKUX charges 0.36%/yr vs 0.02%/yr for VTBNX.

Performance

FIKUX vs. VTBNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Mortgage Securities Fund Class Z (FIKUX) and Vanguard Total Bond Market II Index Fund (VTBNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIKUX achieves a 0.91% return, which is significantly higher than VTBNX's 0.33% return.

FIKUX

• 1D: 0.00%
• 1M: 0.43%
• YTD: 0.91%
• 6M: 1.02%
• 1Y: 7.10%
• 3Y*: 4.42%
• 5Y*: 0.24%
• 10Y*: —

VTBNX

• 1D: 0.00%
• 1M: 0.45%
• YTD: 0.33%
• 6M: 0.25%
• 1Y: 5.21%
• 3Y*: 4.01%
• 5Y*: 0.20%
• 10Y*: 1.55%

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

FIKUX vs. VTBNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIKUX Fidelity Advisor Mortgage Securities Fund Class Z	0.91%	8.40%	1.22%	4.69%	-12.59%	-1.15%	4.61%	6.42%	2.85%
VTBNX Vanguard Total Bond Market II Index Fund	0.33%	7.18%	1.32%	5.68%	-13.12%	-1.82%	7.39%	8.71%	2.52%

Correlation

The correlation between FIKUX and VTBNX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Oct 18, 2018	0.88

The correlation between FIKUX and VTBNX has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.

Return for Risk

FIKUX vs. VTBNX — Risk / Return Rank

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

FIKUX

FIKUX Risk / Return Rank: 39
FIKUX Sharpe Ratio Rank: 36
FIKUX Sortino Ratio Rank: 40
FIKUX Omega Ratio Rank: 37
FIKUX Calmar Ratio Rank: 45
FIKUX Martin Ratio Rank: 38

VTBNX

VTBNX Risk / Return Rank: 22
VTBNX Sharpe Ratio Rank: 22
VTBNX Sortino Ratio Rank: 24
VTBNX Omega Ratio Rank: 20
VTBNX Calmar Ratio Rank: 25
VTBNX Martin Ratio Rank: 21

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.

FIKUX vs. VTBNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Mortgage Securities Fund Class Z (FIKUX) and Vanguard Total Bond Market II Index Fund (VTBNX). 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.

	FIKUX	VTBNX	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.34	+0.42
Sortino ratio: Return per unit of downside risk	2.64	2.03	+0.61
Omega ratio: Gain probability vs. loss probability	1.32	1.23	+0.09
Calmar ratio: Return relative to maximum drawdown	2.54	1.85	+0.69
Martin ratio: Return relative to average drawdown	8.17	5.53	+2.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIKUX vs. VTBNX - Sharpe Ratio Comparison

The current FIKUX Sharpe Ratio is 1.76, which is higher than the VTBNX Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of FIKUX and VTBNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FIKUX	VTBNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	1.34	+0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.03	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.38	-0.06

Drawdowns

FIKUX vs. VTBNX - Drawdown Comparison

The maximum FIKUX drawdown since its inception was -18.63%, roughly equal to the maximum VTBNX drawdown of -18.71%. Use the drawdown chart below to compare losses from any high point for FIKUX and VTBNX.

Drawdown Indicators

	FIKUX	VTBNX	Difference
Max Drawdown Largest peak-to-trough decline	-18.63%	-18.71%	+0.08%
Max Drawdown (1Y) Largest decline over 1 year	-2.81%	-2.83%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-8.03%	-5.97%	-2.06%
Max Drawdown (5Y) Largest decline over 5 years	-18.50%	-18.05%	-0.45%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.71%	—
Current Drawdown Current decline from peak	-1.19%	-2.21%	+1.02%
Average Drawdown Average peak-to-trough decline	-5.05%	-4.87%	-0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	0.95%	-0.08%

Volatility

FIKUX vs. VTBNX - Volatility Comparison

Fidelity Advisor Mortgage Securities Fund Class Z (FIKUX) has a higher volatility of 1.40% compared to Vanguard Total Bond Market II Index Fund (VTBNX) at 1.33%. This indicates that FIKUX's price experiences larger fluctuations and is considered to be riskier than VTBNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIKUX	VTBNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.40%	1.33%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	2.89%	2.81%	+0.08%
Volatility (1Y) Calculated over the trailing 1-year period	4.07%	3.93%	+0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.81%	5.96%	+0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.73%	4.93%	+0.80%

FIKUX vs. VTBNX - Expense Ratio Comparison

FIKUX has a 0.36% expense ratio, which is higher than VTBNX's 0.02% expense ratio.

Dividends

FIKUX vs. VTBNX - Dividend Comparison

FIKUX's dividend yield for the trailing twelve months is around 4.00%, less than VTBNX's 4.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FIKUX Fidelity Advisor Mortgage Securities Fund Class Z	4.00%	4.01%	4.24%	3.31%	1.49%	0.68%	2.50%	2.69%	0.67%	0.00%	0.00%
VTBNX Vanguard Total Bond Market II Index Fund	4.06%	3.95%	3.77%	3.13%	2.54%	1.82%	3.12%	2.79%	2.56%	2.52%	2.55%

Frequently Asked Questions

Can I hold both FIKUX and VTBNX in my portfolio?

With a correlation of 0.95, FIKUX and VTBNX 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.

Which is riskier, FIKUX or VTBNX?

FIKUX has higher volatility (1.40%) compared to VTBNX (1.33%). In terms of maximum drawdown, FIKUX dropped -18.63% vs VTBNX's -18.71%.

Which has better risk-adjusted returns?

FIKUX currently has the higher Sharpe Ratio (1.76 vs 1.34), 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.