FJRLX vs. VTBNX

Last updated Jun 4, 2026

FJRLX (Fidelity Limited Term Bond Fund) and VTBNX (Vanguard Total Bond Market II Index Fund) are both Total Bond Market funds. Over the past 10 years, FJRLX returned 2.40%/yr vs 1.55%/yr for VTBNX. Their correlation of 0.83 suggests significant overlap in exposure. FJRLX charges 0.45%/yr vs 0.02%/yr for VTBNX.

Performance

FJRLX vs. VTBNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Limited Term Bond Fund (FJRLX) 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, FJRLX achieves a 0.71% return, which is significantly higher than VTBNX's 0.33% return. Over the past 10 years, FJRLX has outperformed VTBNX with an annualized return of 2.40%, while VTBNX has yielded a comparatively lower 1.55% annualized return.

FJRLX

• 1D: 0.00%
• 1M: 0.35%
• YTD: 0.71%
• 6M: 1.05%
• 1Y: 4.60%
• 3Y*: 5.49%
• 5Y*: 2.21%
• 10Y*: 2.40%

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)

FJRLX vs. VTBNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FJRLX Fidelity Limited Term Bond Fund	0.71%	6.70%	4.92%	6.26%	-6.22%	-1.46%	5.16%	6.04%	0.71%	1.89%
VTBNX Vanguard Total Bond Market II Index Fund	0.33%	7.18%	1.32%	5.68%	-13.12%	-1.82%	7.39%	8.71%	-0.27%	3.62%

Correlation

The correlation between FJRLX and VTBNX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 25, 2016	0.83

The correlation between FJRLX and VTBNX has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

Return for Risk

FJRLX vs. VTBNX — Risk / Return Rank

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

FJRLX

FJRLX Risk / Return Rank: 62
FJRLX Sharpe Ratio Rank: 53
FJRLX Sortino Ratio Rank: 79
FJRLX Omega Ratio Rank: 70
FJRLX Calmar Ratio Rank: 55
FJRLX Martin Ratio Rank: 53

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.

FJRLX vs. VTBNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Limited Term Bond Fund (FJRLX) 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.

	FJRLX	VTBNX	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.34	+0.81
Sortino ratio: Return per unit of downside risk	3.75	2.03	+1.72
Omega ratio: Gain probability vs. loss probability	1.47	1.23	+0.23
Calmar ratio: Return relative to maximum drawdown	2.84	1.85	+0.99
Martin ratio: Return relative to average drawdown	10.78	5.53	+5.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FJRLX vs. VTBNX - Sharpe Ratio Comparison

The current FJRLX Sharpe Ratio is 2.15, which is higher than the VTBNX Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of FJRLX 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

	FJRLX	VTBNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	1.34	+0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.03	+0.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.00	0.32	+0.68
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	0.38	+0.65

Drawdowns

FJRLX vs. VTBNX - Drawdown Comparison

The maximum FJRLX drawdown since its inception was -9.89%, smaller than the maximum VTBNX drawdown of -18.71%. Use the drawdown chart below to compare losses from any high point for FJRLX and VTBNX.

Drawdown Indicators

	FJRLX	VTBNX	Difference
Max Drawdown Largest peak-to-trough decline	-9.89%	-18.71%	+8.82%
Max Drawdown (1Y) Largest decline over 1 year	-1.63%	-2.83%	+1.20%
Max Drawdown (3Y) Largest decline over 3 years	-1.63%	-5.97%	+4.34%
Max Drawdown (5Y) Largest decline over 5 years	-9.71%	-18.05%	+8.34%
Max Drawdown (10Y) Largest decline over 10 years	-9.89%	-18.71%	+8.82%
Current Drawdown Current decline from peak	-0.26%	-2.21%	+1.95%
Average Drawdown Average peak-to-trough decline	-1.34%	-4.87%	+3.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.43%	0.95%	-0.52%

Volatility

FJRLX vs. VTBNX - Volatility Comparison

The current volatility for Fidelity Limited Term Bond Fund (FJRLX) is 0.74%, while Vanguard Total Bond Market II Index Fund (VTBNX) has a volatility of 1.33%. This indicates that FJRLX experiences smaller price fluctuations and is considered to be less risky than VTBNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FJRLX	VTBNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	1.33%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	1.62%	2.81%	-1.19%
Volatility (1Y) Calculated over the trailing 1-year period	2.15%	3.93%	-1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.76%	5.96%	-3.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.41%	4.93%	-2.52%

FJRLX vs. VTBNX - Expense Ratio Comparison

FJRLX has a 0.45% expense ratio, which is higher than VTBNX's 0.02% expense ratio.

Dividends

FJRLX vs. VTBNX - Dividend Comparison

FJRLX's dividend yield for the trailing twelve months is around 4.08%, which matches VTBNX's 4.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FJRLX Fidelity Limited Term Bond Fund	4.08%	3.93%	3.36%	2.38%	1.26%	1.25%	2.38%	2.44%	2.29%	1.79%	1.88%	1.60%
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%	0.00%

Frequently Asked Questions

Can I hold both FJRLX and VTBNX in my portfolio?

FJRLX and VTBNX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FJRLX or VTBNX?

VTBNX has higher volatility (1.33%) compared to FJRLX (0.74%). In terms of maximum drawdown, FJRLX dropped -9.89% vs VTBNX's -18.71%.

Which has better risk-adjusted returns?

FJRLX currently has the higher Sharpe Ratio (2.15 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.