FNBGX vs. VSBIX
FNBGX (Fidelity Long-Term Treasury Bond Index Fund) and VSBIX (Vanguard Short-Term Treasury Index Fund Institutional Shares) are both Government Bonds funds. Over the past 5 years, FNBGX returned -7.42%/yr vs 1.94%/yr for VSBIX. Their 0.61 correlation means they have sometimes moved together and sometimes differently. FNBGX charges 0.03%/yr vs 0.05%/yr for VSBIX.
Performance
FNBGX vs. VSBIX - Performance Comparison
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Returns By Period
In the year-to-date period, FNBGX achieves a -3.27% return, which is significantly lower than VSBIX's 0.86% return.
FNBGX
- 1D
- 0.34%
- 1M
- -3.50%
- 6M
- -3.07%
- YTD
- -3.27%
- 1Y
- -1.90%
- 3Y*
- -0.16%
- 5Y*
- -7.42%
- 10Y*
- —
- ALL TIME*
- -1.41%
VSBIX
- 1D
- 0.07%
- 1M
- 0.15%
- 6M
- 0.67%
- YTD
- 0.86%
- 1Y
- 2.67%
- 3Y*
- 4.35%
- 5Y*
- 1.94%
- 10Y*
- 1.78%
- ALL TIME*
- 1.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FNBGX vs. VSBIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNBGX Fidelity Long-Term Treasury Bond Index Fund | -3.27% | 5.30% | -6.18% | 3.20% | -29.89% | -5.17% | 17.58% | 14.24% | -1.62% | 1.86% |
VSBIX Vanguard Short-Term Treasury Index Fund Institutional Shares | 0.86% | 5.11% | 4.37% | 4.28% | -3.87% | -0.67% | 3.11% | 3.53% | 1.52% | -0.18% |
Correlation
The correlation between FNBGX and VSBIX is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.65 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2017 | 0.61 |
The correlation between FNBGX and VSBIX has been stable across timeframes, ranging from 0.61 to 0.67 - a consistent structural relationship.
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Return for Risk
FNBGX vs. VSBIX — Risk / Return Rank
FNBGX
VSBIX
FNBGX vs. VSBIX - 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 Short-Term Treasury Index Fund Institutional Shares (VSBIX). 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 | VSBIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.43 | ||
| Sortino ratioReturn per unit of downside risk | -3.56 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.43 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 3.32 | -3.55 |
| Martin ratioReturn relative to average drawdown | -0.51 | 13.33 | -13.84 |
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Drawdowns
FNBGX vs. VSBIX - Drawdown Comparison
The maximum FNBGX drawdown since its inception was -46.86%, which is greater than VSBIX's maximum drawdown of -5.74%. Use the drawdown chart below to compare losses from any high point for FNBGX and VSBIX.
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Drawdown Indicators
| FNBGX | VSBIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.86% | -5.74% | -41.12% |
Max Drawdown (1Y)Largest decline over 1 year | -7.38% | -0.81% | -6.57% |
Max Drawdown (3Y)Largest decline over 3 years | -13.48% | -0.81% | -12.67% |
Max Drawdown (5Y)Largest decline over 5 years | -41.54% | -5.69% | -35.85% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.74% | — |
Current DrawdownCurrent decline from peak | -39.30% | 0.00% | -39.30% |
Average DrawdownAverage peak-to-trough decline | -21.94% | -0.58% | -21.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.32% | 0.20% | +3.12% |
Volatility
FNBGX vs. VSBIX - Volatility Comparison
Fidelity Long-Term Treasury Bond Index Fund (FNBGX) has a higher volatility of 2.31% compared to Vanguard Short-Term Treasury Index Fund Institutional Shares (VSBIX) at 0.35%. This indicates that FNBGX's price experiences larger fluctuations and is considered to be riskier than VSBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNBGX | VSBIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 0.35% | +1.96% |
Volatility (6M)Calculated over the trailing 6-month period | 6.38% | 0.99% | +5.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.37% | 1.21% | +7.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.46% | 1.96% | +12.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.11% | 1.54% | +12.57% |
FNBGX vs. VSBIX - Expense Ratio Comparison
FNBGX has a 0.03% expense ratio, which is lower than VSBIX's 0.05% 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%.
Dividends
FNBGX vs. VSBIX - Dividend Comparison
FNBGX's dividend yield for the trailing twelve months is around 3.81%, which matches VSBIX's 3.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNBGX Fidelity Long-Term Treasury Bond Index Fund | 3.81% | 3.88% | 3.75% | 3.20% | 2.26% | 2.47% | 3.96% | 2.63% | 2.93% | 0.70% | 0.00% | 0.00% |
VSBIX Vanguard Short-Term Treasury Index Fund Institutional Shares | 3.82% | 3.99% | 4.52% | 3.31% | 1.14% | 0.65% | 1.74% | 2.28% | 1.81% | 1.11% | 0.80% | 0.74% |
Frequently Asked Questions
FNBGX and VSBIX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNBGX has higher volatility (2.31%) compared to VSBIX (0.35%). In terms of maximum drawdown, FNBGX dropped -46.86% vs VSBIX's -5.74%.
VSBIX currently has the higher Sharpe Ratio (2.23 vs -0.20), 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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