FPCIX vs. VFIIX
FPCIX (Strategic Advisers Core Income Fund) and VFIIX (Vanguard GNMA Fund Investor Shares) are both Total Bond Market funds. Over the past 10 years, FPCIX returned 1.99%/yr vs 1.30%/yr for VFIIX. Their correlation of 0.81 suggests significant overlap in exposure. FPCIX charges 0.31%/yr vs 0.21%/yr for VFIIX.
Performance
FPCIX vs. VFIIX - Performance Comparison
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Returns By Period
In the year-to-date period, FPCIX achieves a -0.22% return, which is significantly lower than VFIIX's 0.79% return. Over the past 10 years, FPCIX has outperformed VFIIX with an annualized return of 1.99%, while VFIIX has yielded a comparatively lower 1.30% annualized return.
FPCIX
- 1D
- 0.11%
- 1M
- 0.91%
- YTD
- -0.22%
- 6M
- -0.00%
- 1Y
- 3.71%
- 3Y*
- 4.01%
- 5Y*
- -0.17%
- 10Y*
- 1.99%
VFIIX
- 1D
- 0.11%
- 1M
- 0.74%
- YTD
- 0.79%
- 6M
- 1.00%
- 1Y
- 5.09%
- 3Y*
- 4.17%
- 5Y*
- 0.51%
- 10Y*
- 1.30%
FPCIX vs. VFIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FPCIX Strategic Advisers Core Income Fund | -0.22% | 7.42% | 1.71% | 5.98% | -14.76% | -0.81% | 9.39% | 9.20% | -0.33% | 4.73% |
VFIIX Vanguard GNMA Fund Investor Shares | 0.79% | 7.73% | 1.07% | 5.17% | -10.81% | -1.24% | 3.73% | 5.84% | 0.89% | 1.88% |
Correlation
The correlation between FPCIX and VFIIX is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2007 | 0.81 |
The correlation between FPCIX and VFIIX shifts across timeframes, from 0.77 (1 year) to 0.88 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FPCIX vs. VFIIX — Risk / Return Rank
FPCIX
VFIIX
FPCIX vs. VFIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategic Advisers Core Income Fund (FPCIX) and Vanguard GNMA Fund Investor Shares (VFIIX). 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.
| FPCIX | VFIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.25 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.93 | -0.30 |
| Martin ratioReturn relative to average drawdown | 4.76 | 5.95 | -1.18 |
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Drawdowns
FPCIX vs. VFIIX - Drawdown Comparison
The maximum FPCIX drawdown since its inception was -19.60%, smaller than the maximum VFIIX drawdown of -25.80%. Use the drawdown chart below to compare losses from any high point for FPCIX and VFIIX.
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Drawdown Indicators
| FPCIX | VFIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.60% | -25.80% | +6.20% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -2.83% | -0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -6.51% | -6.97% | +0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -19.60% | -15.79% | -3.81% |
Max Drawdown (10Y)Largest decline over 10 years | -19.60% | -16.20% | -3.40% |
Current DrawdownCurrent decline from peak | -2.59% | -1.38% | -1.21% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -2.98% | -0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 0.92% | +0.10% |
Volatility
FPCIX vs. VFIIX - Volatility Comparison
Strategic Advisers Core Income Fund (FPCIX) and Vanguard GNMA Fund Investor Shares (VFIIX) have volatilities of 1.27% and 1.21%, 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
| FPCIX | VFIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 1.21% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.03% | 3.00% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.23% | 3.97% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.24% | 6.22% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.07% | 4.70% | +0.37% |
FPCIX vs. VFIIX - Expense Ratio Comparison
FPCIX has a 0.31% expense ratio, which is higher than VFIIX's 0.21% expense ratio.
Dividends
FPCIX vs. VFIIX - Dividend Comparison
FPCIX's dividend yield for the trailing twelve months is around 3.56%, less than VFIIX's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPCIX Strategic Advisers Core Income Fund | 3.56% | 3.83% | 4.17% | 3.55% | 2.69% | 3.01% | 4.99% | 3.75% | 2.94% | 2.70% | 4.13% | 2.45% |
VFIIX Vanguard GNMA Fund Investor Shares | 3.69% | 3.62% | 3.58% | 3.23% | 2.34% | 0.63% | 1.87% | 2.76% | 2.90% | 2.64% | 3.01% | 2.84% |
Frequently Asked Questions
FPCIX and VFIIX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FPCIX has higher volatility (1.27%) compared to VFIIX (1.21%). In terms of maximum drawdown, FPCIX dropped -19.60% vs VFIIX's -25.80%.
VFIIX currently has the higher Sharpe Ratio (1.37 vs 1.13), 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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