FNBGX vs. VGLT
FNBGX (Fidelity Long-Term Treasury Bond Index Fund) and VGLT (Vanguard Long-Term Treasury ETF) are both Government Bonds funds. Over the past 5 years, FNBGX returned -5.91%/yr vs -5.58%/yr for VGLT. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.03% expense ratio.
Performance
FNBGX vs. VGLT - Performance Comparison
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Returns By Period
In the year-to-date period, FNBGX achieves a 0.79% return, which is significantly higher than VGLT's 0.34% return.
FNBGX
- 1D
- 0.44%
- 1M
- 2.58%
- YTD
- 0.79%
- 6M
- 1.02%
- 1Y
- 5.04%
- 3Y*
- -0.39%
- 5Y*
- -5.91%
- 10Y*
- —
VGLT
- 1D
- -0.67%
- 1M
- 1.89%
- YTD
- 0.34%
- 6M
- 0.36%
- 1Y
- 4.33%
- 3Y*
- -0.80%
- 5Y*
- -5.58%
- 10Y*
- -1.21%
FNBGX vs. VGLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNBGX Fidelity Long-Term Treasury Bond Index Fund | 0.79% | 5.30% | -6.18% | 3.20% | -29.89% | -5.17% | 17.58% | 14.24% | -1.62% | 1.86% |
VGLT Vanguard Long-Term Treasury ETF | 0.34% | 5.35% | -6.28% | 3.27% | -29.34% | -4.98% | 17.57% | 14.30% | -1.54% | 1.90% |
Correlation
The correlation between FNBGX and VGLT is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2017 | 0.99 |
The correlation between FNBGX and VGLT has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
FNBGX vs. VGLT — Risk / Return Rank
FNBGX
VGLT
FNBGX vs. VGLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Long-Term Treasury Bond Index Fund (FNBGX) and Vanguard Long-Term Treasury ETF (VGLT). 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.
| FNBGX | VGLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.09 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 0.62 | +0.04 |
| Martin ratioReturn relative to average drawdown | 1.67 | 1.54 | +0.13 |
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Drawdowns
FNBGX vs. VGLT - Drawdown Comparison
The maximum FNBGX drawdown since its inception was -46.86%, roughly equal to the maximum VGLT drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for FNBGX and VGLT.
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Drawdown Indicators
| FNBGX | VGLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.86% | -46.18% | -0.68% |
Max Drawdown (1Y)Largest decline over 1 year | -7.28% | -7.01% | -0.27% |
Max Drawdown (3Y)Largest decline over 3 years | -17.66% | -17.68% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -41.54% | -40.98% | -0.56% |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.18% | — |
Current DrawdownCurrent decline from peak | -36.76% | -36.35% | -0.41% |
Average DrawdownAverage peak-to-trough decline | -21.72% | -15.12% | -6.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.88% | 2.81% | +0.07% |
Volatility
FNBGX vs. VGLT - Volatility Comparison
Fidelity Long-Term Treasury Bond Index Fund (FNBGX) and Vanguard Long-Term Treasury ETF (VGLT) have volatilities of 2.10% and 2.09%, 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.
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Volatility by Period
| FNBGX | VGLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.10% | 2.09% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 6.12% | 6.08% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.68% | 8.62% | +0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.55% | 14.53% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.17% | 13.82% | +0.35% |
FNBGX vs. VGLT - Expense Ratio Comparison
Both FNBGX and VGLT have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
FNBGX vs. VGLT - Dividend Comparison
FNBGX's dividend yield for the trailing twelve months is around 3.97%, less than VGLT's 4.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNBGX Fidelity Long-Term Treasury Bond Index Fund | 3.97% | 3.88% | 3.75% | 3.20% | 2.26% | 2.47% | 3.96% | 2.63% | 2.93% | 0.70% | 0.00% | 0.00% |
VGLT Vanguard Long-Term Treasury ETF | 4.57% | 4.44% | 4.33% | 3.33% | 2.84% | 1.82% | 2.15% | 2.46% | 2.71% | 2.55% | 2.69% | 3.21% |
Frequently Asked Questions
With a correlation of 0.98, FNBGX and VGLT 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.
FNBGX has higher volatility (2.10%) compared to VGLT (2.09%). In terms of maximum drawdown, FNBGX dropped -46.86% vs VGLT's -46.18%.
FNBGX currently has the higher Sharpe Ratio (0.56 vs 0.51), 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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