FTBFX vs. VTBIX

Last updated Jun 4, 2026

FTBFX (Fidelity Total Bond Fund) and VTBIX (Vanguard Total Bond Market II Index Fund Investor Shares) are both mutual funds - FTBFX is a Intermediate Core-Plus Bond fund actively managed by Fidelity, while VTBIX is a Total Bond Market fund managed by Vanguard. Over the past 10 years, FTBFX returned 2.47%/yr vs 1.44%/yr for VTBIX. Their correlation of 0.93 suggests significant overlap in exposure. FTBFX charges 0.45%/yr vs 0.09%/yr for VTBIX.

Performance

FTBFX vs. VTBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Total Bond Fund (FTBFX) and Vanguard Total Bond Market II Index Fund Investor Shares (VTBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTBFX achieves a 0.57% return, which is significantly higher than VTBIX's 0.30% return. Over the past 10 years, FTBFX has outperformed VTBIX with an annualized return of 2.47%, while VTBIX has yielded a comparatively lower 1.44% annualized return.

FTBFX

• 1D: 0.00%
• 1M: 0.47%
• YTD: 0.57%
• 6M: 0.40%
• 1Y: 5.75%
• 3Y*: 4.84%
• 5Y*: 0.76%
• 10Y*: 2.47%

VTBIX

• 1D: 0.00%
• 1M: 0.45%
• YTD: 0.30%
• 6M: 0.22%
• 1Y: 5.14%
• 3Y*: 3.84%
• 5Y*: 0.03%
• 10Y*: 1.44%

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

FTBFX vs. VTBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTBFX Fidelity Total Bond Fund	0.57%	7.50%	2.13%	7.25%	-13.58%	-0.44%	9.34%	9.89%	-0.66%	4.19%
VTBIX Vanguard Total Bond Market II Index Fund Investor Shares	0.30%	7.11%	1.25%	5.03%	-13.18%	-1.88%	7.47%	8.62%	-0.32%	3.53%

Correlation

The correlation between FTBFX and VTBIX is 0.97 - 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	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Aug 6, 2012	0.93

The correlation between FTBFX and VTBIX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

Return for Risk

FTBFX vs. VTBIX — Risk / Return Rank

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

FTBFX

FTBFX Risk / Return Rank: 27
FTBFX Sharpe Ratio Rank: 28
FTBFX Sortino Ratio Rank: 30
FTBFX Omega Ratio Rank: 27
FTBFX Calmar Ratio Rank: 28
FTBFX Martin Ratio Rank: 24

VTBIX

VTBIX Risk / Return Rank: 22
VTBIX Sharpe Ratio Rank: 22
VTBIX Sortino Ratio Rank: 23
VTBIX Omega Ratio Rank: 20
VTBIX Calmar Ratio Rank: 24
VTBIX Martin Ratio Rank: 21

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.

FTBFX vs. VTBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Total Bond Fund (FTBFX) and Vanguard Total Bond Market II Index Fund Investor Shares (VTBIX). 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.

	FTBFX	VTBIX	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.32	+0.17
Sortino ratio: Return per unit of downside risk	2.24	2.00	+0.24
Omega ratio: Gain probability vs. loss probability	1.27	1.23	+0.04
Calmar ratio: Return relative to maximum drawdown	1.99	1.82	+0.18
Martin ratio: Return relative to average drawdown	6.10	5.43	+0.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTBFX vs. VTBIX - Sharpe Ratio Comparison

The current FTBFX Sharpe Ratio is 1.49, which is comparable to the VTBIX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of FTBFX and VTBIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FTBFX	VTBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	1.32	+0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	0.00	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.29	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.27	+0.66

Drawdowns

FTBFX vs. VTBIX - Drawdown Comparison

The maximum FTBFX drawdown since its inception was -18.25%, roughly equal to the maximum VTBIX drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for FTBFX and VTBIX.

Drawdown Indicators

	FTBFX	VTBIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.25%	-18.72%	+0.47%
Max Drawdown (1Y) Largest decline over 1 year	-2.89%	-2.84%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-5.82%	-5.98%	+0.16%
Max Drawdown (5Y) Largest decline over 5 years	-18.25%	-18.11%	-0.14%
Max Drawdown (10Y) Largest decline over 10 years	-18.25%	-18.72%	+0.47%
Current Drawdown Current decline from peak	-1.31%	-3.00%	+1.69%
Average Drawdown Average peak-to-trough decline	-2.32%	-4.42%	+2.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	0.95%	-0.01%

Volatility

FTBFX vs. VTBIX - Volatility Comparison

Fidelity Total Bond Fund (FTBFX) has a higher volatility of 1.40% compared to Vanguard Total Bond Market II Index Fund Investor Shares (VTBIX) at 1.33%. This indicates that FTBFX's price experiences larger fluctuations and is considered to be riskier than VTBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTBFX	VTBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.40%	1.33%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	2.80%	2.80%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	3.88%	3.91%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.67%	5.95%	-0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.73%	4.92%	-0.19%

FTBFX vs. VTBIX - Expense Ratio Comparison

FTBFX has a 0.45% expense ratio, which is higher than VTBIX's 0.09% expense ratio.

Dividends

FTBFX vs. VTBIX - Dividend Comparison

FTBFX's dividend yield for the trailing twelve months is around 4.36%, more than VTBIX's 3.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTBFX Fidelity Total Bond Fund	4.36%	4.36%	4.15%	4.15%	2.54%	1.89%	5.22%	3.03%	3.19%	2.97%	3.61%	3.30%
VTBIX Vanguard Total Bond Market II Index Fund Investor Shares	3.99%	3.88%	3.70%	2.53%	2.47%	1.75%	3.20%	2.72%	2.51%	2.43%	2.48%	2.64%

Frequently Asked Questions

Can I hold both FTBFX and VTBIX in my portfolio?

With a correlation of 0.97, FTBFX and VTBIX 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.

Which is riskier, FTBFX or VTBIX?

FTBFX has higher volatility (1.40%) compared to VTBIX (1.33%). In terms of maximum drawdown, FTBFX dropped -18.25% vs VTBIX's -18.72%.

Which has better risk-adjusted returns?

FTBFX currently has the higher Sharpe Ratio (1.49 vs 1.32), 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.