FTBRX vs. VBTIX

Last updated Aug 1, 2026

FTBRX (Fidelity Advisor Limited Term Bond Fund Class M) and VBTIX (Vanguard Total Bond Market Index Fund Institutional Shares) are both Total Bond Market funds. Over the past 10 years, FTBRX returned 1.92%/yr vs 1.29%/yr for VBTIX. Their correlation of 0.87 means they have usually moved in the same direction. FTBRX charges 0.75%/yr vs 0.03%/yr for VBTIX.

Performance

FTBRX vs. VBTIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Limited Term Bond Fund Class M (FTBRX) and Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTBRX achieves a 0.38% return, which is significantly higher than VBTIX's -0.70% return. Over the past 10 years, FTBRX has outperformed VBTIX with an annualized return of 1.92%, while VBTIX has yielded a comparatively lower 1.29% annualized return.

FTBRX

• 1D: 0.00%
• 1M: -0.43%
• 6M: 0.07%
• YTD: 0.38%
• 1Y: 2.46%
• 3Y*: 4.68%
• 5Y*: 1.65%
• 10Y*: 1.92%
• ALL TIME*: 3.82%

VBTIX

• 1D: 0.00%
• 1M: -1.25%
• 6M: -0.93%
• YTD: -0.70%
• 1Y: 1.68%
• 3Y*: 3.70%
• 5Y*: -0.44%
• 10Y*: 1.29%
• ALL TIME*: 4.17%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FTBRX Fidelity Advisor Limited Term Bond Fund Class M	$0.00	$0.00	$0.00
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares	$0.00	$0.00	$0.00

FTBRX vs. VBTIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTBRX Fidelity Advisor Limited Term Bond Fund Class M	0.38%	6.29%	4.17%	5.66%	-6.45%	-1.64%	4.76%	5.72%	0.48%	1.57%
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares	-0.70%	7.18%	1.27%	5.75%	-13.15%	-1.95%	7.75%	8.74%	-0.24%	3.56%

Correlation

The correlation between FTBRX and VBTIX is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (10Y) Provides a long-term view across more market conditions.	0.83
Correlation (All Time) Calculated using the full available price history since Sep 18, 1995	0.87

The correlation between FTBRX and VBTIX has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

Return for Risk

FTBRX vs. VBTIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FTBRX

FTBRX Risk / Return Rank: 58
FTBRX Sharpe Ratio Rank: 58
FTBRX Sortino Ratio Rank: 69
FTBRX Omega Ratio Rank: 67
FTBRX Calmar Ratio Rank: 50
FTBRX Martin Ratio Rank: 47

VBTIX

VBTIX Risk / Return Rank: 21
VBTIX Sharpe Ratio Rank: 22
VBTIX Sortino Ratio Rank: 21
VBTIX Omega Ratio Rank: 20
VBTIX Calmar Ratio Rank: 22
VBTIX Martin Ratio Rank: 19

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FTBRX vs. VBTIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Limited Term Bond Fund Class M (FTBRX) and Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX). 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.

	FTBRX	VBTIX	Difference
Sharpe ratio: Return per unit of total volatility	1.52	0.76	+0.76
Sortino ratio: Return per unit of downside risk	2.43	1.11	+1.32
Omega ratio: Gain probability vs. loss probability	1.30	1.13	+0.17
Calmar ratio: Return relative to maximum drawdown	1.94	1.00	+0.95
Martin ratio: Return relative to average drawdown	6.90	2.49	+4.41

FTBRX vs. VBTIX - Sharpe Ratio Comparison

The current FTBRX Sharpe Ratio is 1.52, which is higher than the VBTIX Sharpe Ratio of 0.76. The chart below compares the historical Sharpe Ratios of FTBRX and VBTIX, 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

FTBRX vs. VBTIX - Drawdown Comparison

The maximum FTBRX drawdown since its inception was -12.43%, smaller than the maximum VBTIX drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for FTBRX and VBTIX.

Drawdown Indicators

	FTBRX	VBTIX	Difference
Max Drawdown Largest peak-to-trough decline	-12.43%	-18.90%	+6.47%
Max Drawdown (1Y) Largest decline over 1 year	-1.71%	-2.89%	+1.18%
Max Drawdown (3Y) Largest decline over 3 years	-1.71%	-4.86%	+3.15%
Max Drawdown (5Y) Largest decline over 5 years	-9.99%	-18.13%	+8.14%
Max Drawdown (10Y) Largest decline over 10 years	-10.29%	-18.90%	+8.61%
Current Drawdown Current decline from peak	-0.63%	-3.34%	+2.71%
Average Drawdown Average peak-to-trough decline	-1.29%	-2.32%	+1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	1.15%	-0.67%

Volatility

FTBRX vs. VBTIX - Volatility Comparison

The current volatility for Fidelity Advisor Limited Term Bond Fund Class M (FTBRX) is 0.58%, while Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) has a volatility of 0.96%. This indicates that FTBRX experiences smaller price fluctuations and is considered to be less risky than VBTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTBRX	VBTIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.58%	0.96%	-0.38%
Volatility (6M) Calculated over the trailing 6-month period	1.74%	2.97%	-1.23%
Volatility (1Y) Calculated over the trailing 1-year period	2.20%	3.82%	-1.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.76%	6.02%	-3.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.38%	4.98%	-2.60%

FTBRX vs. VBTIX - Expense Ratio Comparison

FTBRX has a 0.75% expense ratio, which is higher than VBTIX's 0.03% expense ratio.

Dividends

FTBRX vs. VBTIX - Dividend Comparison

FTBRX's dividend yield for the trailing twelve months is around 3.51%, less than VBTIX's 3.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTBRX Fidelity Advisor Limited Term Bond Fund Class M	3.51%	3.63%	2.57%	1.91%	1.03%	0.99%	2.09%	2.13%	1.97%	1.48%	1.54%	1.31%
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares	3.73%	3.88%	3.69%	3.12%	2.61%	1.81%	2.41%	2.75%	2.58%	2.56%	2.54%	2.84%

Frequently Asked Questions

Can I hold both FTBRX and VBTIX in my portfolio?

FTBRX and VBTIX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTBRX or VBTIX?

VBTIX has higher volatility (0.96%) compared to FTBRX (0.58%). In terms of maximum drawdown, FTBRX dropped -12.43% vs VBTIX's -18.90%.

Which has better risk-adjusted returns?

FTBRX currently has the higher Sharpe Ratio (1.52 vs 0.76), 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.