FPFD vs. VGSH
FPFD (Fidelity Preferred Securities & Income ETF) and VGSH (Vanguard Short-Term Treasury ETF) are both exchange-traded funds - FPFD is a Preferred Stock fund actively managed by Fidelity, while VGSH is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. FPFD is actively managed, while VGSH is passively managed. Over the past 5 years, FPFD returned 1.43%/yr vs 1.85%/yr for VGSH. Their 0.30 correlation means their historical movements had little consistent relationship. FPFD charges 0.59%/yr vs 0.03%/yr for VGSH.
Performance
FPFD vs. VGSH - Performance Comparison
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Returns By Period
In the year-to-date period, FPFD achieves a 0.35% return, which is significantly lower than VGSH's 0.64% return.
FPFD
- 1D
- 0.09%
- 1M
- -0.12%
- 6M
- -0.81%
- YTD
- 0.35%
- 1Y
- 3.63%
- 3Y*
- 6.98%
- 5Y*
- 1.43%
- 10Y*
- —
- ALL TIME*
- 1.62%
VGSH
- 1D
- 0.07%
- 1M
- -0.09%
- 6M
- 0.60%
- YTD
- 0.64%
- 1Y
- 2.93%
- 3Y*
- 4.25%
- 5Y*
- 1.85%
- 10Y*
- 1.74%
- ALL TIME*
- 1.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $295.77K | $327.45K | $330.65K | |
| $156.47M | $172.91M | $197.99M |
FPFD vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FPFD Fidelity Preferred Securities & Income ETF | 0.35% | 6.46% | 8.50% | 10.91% | -17.11% | 1.84% |
VGSH Vanguard Short-Term Treasury ETF | 0.64% | 5.07% | 4.00% | 4.31% | -3.86% | -0.54% |
Correlation
The correlation between FPFD and VGSH is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.38 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2021 | 0.30 |
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Return for Risk
FPFD vs. VGSH — Risk / Return Rank
FPFD
VGSH
FPFD vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Preferred Securities & Income ETF (FPFD) and Vanguard Short-Term Treasury ETF (VGSH). 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.
| FPFD | VGSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.99 | ||
| Sortino ratioReturn per unit of downside risk | -1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.46 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 3.37 | -2.00 |
| Martin ratioReturn relative to average drawdown | 4.43 | 12.93 | -8.51 |
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Drawdowns
FPFD vs. VGSH - Drawdown Comparison
The maximum FPFD drawdown since its inception was -20.83%, which is greater than VGSH's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for FPFD and VGSH.
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Drawdown Indicators
| FPFD | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.83% | -5.70% | -15.13% |
Max Drawdown (1Y)Largest decline over 1 year | -2.75% | -0.88% | -1.87% |
Max Drawdown (3Y)Largest decline over 3 years | -4.92% | -0.97% | -3.95% |
Max Drawdown (5Y)Largest decline over 5 years | -20.83% | -5.66% | -15.17% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.70% | — |
Current DrawdownCurrent decline from peak | -1.60% | -0.19% | -1.41% |
Average DrawdownAverage peak-to-trough decline | -6.66% | -0.59% | -6.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 0.23% | +0.62% |
Volatility
FPFD vs. VGSH - Volatility Comparison
Fidelity Preferred Securities & Income ETF (FPFD) has a higher volatility of 0.83% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.36%. This indicates that FPFD's price experiences larger fluctuations and is considered to be riskier than VGSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPFD | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 0.36% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 2.31% | 1.01% | +1.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.99% | 1.32% | +1.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.31% | 1.98% | +3.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 1.58% | +3.68% |
FPFD vs. VGSH - Expense Ratio Comparison
FPFD has a 0.59% expense ratio, which is higher than VGSH's 0.03% expense ratio.
Dividends
FPFD vs. VGSH - Dividend Comparison
FPFD's dividend yield for the trailing twelve months is around 5.32%, more than VGSH's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPFD Fidelity Preferred Securities & Income ETF | 5.32% | 5.04% | 4.89% | 5.09% | 5.22% | 1.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGSH Vanguard Short-Term Treasury ETF | 3.85% | 4.00% | 4.18% | 3.31% | 1.15% | 0.66% | 1.74% | 2.28% | 1.79% | 1.10% | 0.84% | 0.69% |
Frequently Asked Questions
FPFD and VGSH have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FPFD has higher volatility (0.83%) compared to VGSH (0.36%). In terms of maximum drawdown, FPFD dropped -20.83% vs VGSH's -5.70%.
On 5-year performance, VGSH leads with 1.85% vs 1.43% for FPFD. On fees, VGSH is cheaper at 0.03% per year. On volatility, VGSH has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VGSH has performed better with a 1.85% return vs 1.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGSH is cheaper with a 0.03% expense ratio, compared with 0.59% for FPFD.
FPFD has the higher dividend yield at 5.32%, compared with 3.85% for VGSH.
FPFD is categorized as Preferred Stock, while VGSH is Government Bonds. They also come from different issuers: Fidelity and Vanguard. Their fees differ too: 0.59% for FPFD and 0.03% for VGSH.
VGSH currently has the higher Sharpe Ratio (2.26 vs 1.26), 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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