FIWDX vs. VBMPX

Last updated Jun 4, 2026

FIWDX (Fidelity Advisor Strategic Income Fund Class Z) and VBMPX (Vanguard Total Bond Market Index Fund Institutional Plus Shares) are both Total Bond Market funds. Over the past 5 years, FIWDX returned 3.33%/yr vs 0.23%/yr for VBMPX. A 0.66 correlation means they provide meaningful diversification when combined. FIWDX charges 0.61%/yr vs 0.03%/yr for VBMPX.

Performance

FIWDX vs. VBMPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Strategic Income Fund Class Z (FIWDX) and Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIWDX achieves a 3.40% return, which is significantly higher than VBMPX's 0.43% return.

FIWDX

• 1D: 0.16%
• 1M: 1.18%
• YTD: 3.40%
• 6M: 3.74%
• 1Y: 9.97%
• 3Y*: 8.16%
• 5Y*: 3.33%
• 10Y*: —

VBMPX

• 1D: 0.00%
• 1M: 0.55%
• YTD: 0.43%
• 6M: 0.36%
• 1Y: 5.36%
• 3Y*: 4.06%
• 5Y*: 0.23%
• 10Y*: 1.58%

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

FIWDX vs. VBMPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIWDX Fidelity Advisor Strategic Income Fund Class Z	3.40%	8.98%	6.07%	9.20%	-11.76%	3.51%	7.60%	11.20%	-1.63%
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares	0.43%	7.18%	1.27%	5.75%	-13.14%	-1.95%	7.75%	8.74%	2.61%

Correlation

The correlation between FIWDX and VBMPX is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Oct 18, 2018	0.66

The correlation between FIWDX and VBMPX shifts across timeframes, from 0.66 (all time) to 0.79 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

FIWDX vs. VBMPX — Risk / Return Rank

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

FIWDX

FIWDX Risk / Return Rank: 89
FIWDX Sharpe Ratio Rank: 90
FIWDX Sortino Ratio Rank: 92
FIWDX Omega Ratio Rank: 89
FIWDX Calmar Ratio Rank: 85
FIWDX Martin Ratio Rank: 88

VBMPX

VBMPX Risk / Return Rank: 23
VBMPX Sharpe Ratio Rank: 23
VBMPX Sortino Ratio Rank: 24
VBMPX Omega Ratio Rank: 22
VBMPX Calmar Ratio Rank: 25
VBMPX 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.

FIWDX vs. VBMPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Strategic Income Fund Class Z (FIWDX) and Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX). 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.

	FIWDX	VBMPX	Difference
Sharpe ratio: Return per unit of total volatility	2.96	1.36	+1.60
Sortino ratio: Return per unit of downside risk	4.57	2.05	+2.52
Omega ratio: Gain probability vs. loss probability	1.64	1.24	+0.40
Calmar ratio: Return relative to maximum drawdown	3.98	1.86	+2.11
Martin ratio: Return relative to average drawdown	17.17	5.61	+11.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIWDX vs. VBMPX - Sharpe Ratio Comparison

The current FIWDX Sharpe Ratio is 2.96, which is higher than the VBMPX Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of FIWDX and VBMPX, 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

	FIWDX	VBMPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.96	1.36	+1.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.04	+0.70
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.52	+0.42

Drawdowns

FIWDX vs. VBMPX - Drawdown Comparison

The maximum FIWDX drawdown since its inception was -15.96%, smaller than the maximum VBMPX drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for FIWDX and VBMPX.

Drawdown Indicators

	FIWDX	VBMPX	Difference
Max Drawdown Largest peak-to-trough decline	-15.96%	-18.90%	+2.94%
Max Drawdown (1Y) Largest decline over 1 year	-2.61%	-2.89%	+0.28%
Max Drawdown (3Y) Largest decline over 3 years	-3.97%	-5.99%	+2.02%
Max Drawdown (5Y) Largest decline over 5 years	-15.96%	-18.12%	+2.16%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.90%	—
Current Drawdown Current decline from peak	0.00%	-2.23%	+2.23%
Average Drawdown Average peak-to-trough decline	-3.20%	-3.53%	+0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.60%	0.96%	-0.36%

Volatility

FIWDX vs. VBMPX - Volatility Comparison

Fidelity Advisor Strategic Income Fund Class Z (FIWDX) and Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX) have volatilities of 1.39% and 1.38%, 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

	FIWDX	VBMPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.39%	1.38%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.93%	2.80%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	3.51%	3.97%	-0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.54%	6.02%	-1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.88%	4.98%	-0.10%

FIWDX vs. VBMPX - Expense Ratio Comparison

FIWDX has a 0.61% expense ratio, which is higher than VBMPX's 0.03% expense ratio.

Dividends

FIWDX vs. VBMPX - Dividend Comparison

FIWDX's dividend yield for the trailing twelve months is around 4.34%, more than VBMPX's 4.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIWDX Fidelity Advisor Strategic Income Fund Class Z	4.34%	4.39%	4.21%	4.02%	2.99%	4.28%	4.62%	4.39%	1.13%	0.00%	0.00%	0.00%
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares	4.00%	3.88%	3.69%	3.11%	2.61%	1.81%	2.41%	2.75%	2.58%	2.58%	2.55%	2.85%

Frequently Asked Questions

Can I hold both FIWDX and VBMPX in my portfolio?

FIWDX and VBMPX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIWDX or VBMPX?

FIWDX has higher volatility (1.39%) compared to VBMPX (1.38%). In terms of maximum drawdown, FIWDX dropped -15.96% vs VBMPX's -18.90%.

Which has better risk-adjusted returns?

FIWDX currently has the higher Sharpe Ratio (2.96 vs 1.36), 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.