FSIAX vs. VBIUX

Last updated Jun 24, 2026

FSIAX (Fidelity Advisor Strategic Income Fund Class M) and VBIUX (Vanguard Intermediate-Term Bond Index Fund Institutional Plus) are both Total Bond Market funds. Over the past 10 years, FSIAX returned 4.08%/yr vs 1.76%/yr for VBIUX. A 0.54 correlation means they provide meaningful diversification when combined. FSIAX charges 0.96%/yr vs 0.04%/yr for VBIUX.

Performance

FSIAX vs. VBIUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Strategic Income Fund Class M (FSIAX) and Vanguard Intermediate-Term Bond Index Fund Institutional Plus (VBIUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSIAX achieves a 3.28% return, which is significantly higher than VBIUX's -0.52% return. Over the past 10 years, FSIAX has outperformed VBIUX with an annualized return of 4.08%, while VBIUX has yielded a comparatively lower 1.76% annualized return.

FSIAX

• 1D: -0.08%
• 1M: 1.24%
• YTD: 3.28%
• 6M: 3.57%
• 1Y: 8.93%
• 3Y*: 7.49%
• 5Y*: 2.73%
• 10Y*: 4.08%

VBIUX

• 1D: -0.29%
• 1M: 0.47%
• YTD: -0.52%
• 6M: -0.07%
• 1Y: 3.78%
• 3Y*: 4.26%
• 5Y*: 0.08%
• 10Y*: 1.76%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FSIAX vs. VBIUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSIAX Fidelity Advisor Strategic Income Fund Class M	3.28%	8.59%	5.03%	8.83%	-12.06%	3.22%	7.30%	10.76%	-2.93%	7.54%
VBIUX Vanguard Intermediate-Term Bond Index Fund Institutional Plus	-0.52%	8.60%	1.56%	5.53%	-13.24%	-2.64%	9.83%	10.23%	-0.13%	3.90%

Correlation

The correlation between FSIAX and VBIUX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Sep 27, 2011	0.54

The correlation between FSIAX and VBIUX shifts across timeframes, from 0.54 (all time) to 0.78 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

FSIAX vs. VBIUX — Risk / Return Rank

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

FSIAX

FSIAX Risk / Return Rank: 84
FSIAX Sharpe Ratio Rank: 83
FSIAX Sortino Ratio Rank: 86
FSIAX Omega Ratio Rank: 84
FSIAX Calmar Ratio Rank: 81
FSIAX Martin Ratio Rank: 85

VBIUX

VBIUX Risk / Return Rank: 14
VBIUX Sharpe Ratio Rank: 15
VBIUX Sortino Ratio Rank: 15
VBIUX Omega Ratio Rank: 13
VBIUX Calmar Ratio Rank: 14
VBIUX Martin Ratio Rank: 13

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.

FSIAX vs. VBIUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Strategic Income Fund Class M (FSIAX) and Vanguard Intermediate-Term Bond Index Fund Institutional Plus (VBIUX). 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.

	FSIAX	VBIUX	Difference
Sharpe ratio: Return per unit of total volatility	2.52	1.00	+1.52
Sortino ratio: Return per unit of downside risk	3.80	1.50	+2.30
Omega ratio: Gain probability vs. loss probability	1.53	1.17	+0.35
Calmar ratio: Return relative to maximum drawdown	3.48	1.23	+2.25
Martin ratio: Return relative to average drawdown	14.83	3.34	+11.48

FSIAX vs. VBIUX - Sharpe Ratio Comparison

The current FSIAX Sharpe Ratio is 2.52, which is higher than the VBIUX Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of FSIAX and VBIUX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FSIAX vs. VBIUX - Drawdown Comparison

The maximum FSIAX drawdown since its inception was -17.81%, smaller than the maximum VBIUX drawdown of -19.18%. Use the drawdown chart below to compare losses from any high point for FSIAX and VBIUX.

Drawdown Indicators

	FSIAX	VBIUX	Difference
Max Drawdown Largest peak-to-trough decline	-17.81%	-19.18%	+1.37%
Max Drawdown (1Y) Largest decline over 1 year	-2.66%	-3.33%	+0.67%
Max Drawdown (3Y) Largest decline over 3 years	-4.13%	-6.05%	+1.92%
Max Drawdown (5Y) Largest decline over 5 years	-16.19%	-18.83%	+2.64%
Max Drawdown (10Y) Largest decline over 10 years	-16.19%	-19.18%	+2.99%
Current Drawdown Current decline from peak	-0.08%	-2.30%	+2.22%
Average Drawdown Average peak-to-trough decline	-1.83%	-4.08%	+2.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.62%	1.22%	-0.60%

Volatility

FSIAX vs. VBIUX - Volatility Comparison

Fidelity Advisor Strategic Income Fund Class M (FSIAX) has a higher volatility of 1.36% compared to Vanguard Intermediate-Term Bond Index Fund Institutional Plus (VBIUX) at 1.29%. This indicates that FSIAX's price experiences larger fluctuations and is considered to be riskier than VBIUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSIAX	VBIUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.36%	1.29%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	3.12%	3.09%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	4.12%	-0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.54%	6.39%	-1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.46%	5.39%	-0.93%

FSIAX vs. VBIUX - Expense Ratio Comparison

FSIAX has a 0.96% expense ratio, which is higher than VBIUX's 0.04% expense ratio.

Dividends

FSIAX vs. VBIUX - Dividend Comparison

FSIAX's dividend yield for the trailing twelve months is around 4.01%, less than VBIUX's 4.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSIAX Fidelity Advisor Strategic Income Fund Class M	4.01%	4.06%	3.21%	3.71%	2.71%	4.01%	4.32%	4.07%	3.51%	3.70%	3.49%	3.18%
VBIUX Vanguard Intermediate-Term Bond Index Fund Institutional Plus	4.26%	4.04%	3.82%	2.59%	2.42%	3.08%	2.95%	2.76%	2.89%	2.77%	3.09%	3.14%

Frequently Asked Questions

Can I hold both FSIAX and VBIUX in my portfolio?

FSIAX and VBIUX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSIAX or VBIUX?

FSIAX has higher volatility (1.36%) compared to VBIUX (1.29%). In terms of maximum drawdown, FSIAX dropped -17.81% vs VBIUX's -19.18%.

Which has better risk-adjusted returns?

FSIAX currently has the higher Sharpe Ratio (2.52 vs 1.00), 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.