FTBRX vs. VTBNX
FTBRX (Fidelity Advisor Limited Term Bond Fund Class M) and VTBNX (Vanguard Total Bond Market II Index Fund) are both Total Bond Market funds. Over the past 10 years, FTBRX returned 1.96%/yr vs 1.47%/yr for VTBNX. Their correlation of 0.83 suggests significant overlap in exposure. FTBRX charges 0.75%/yr vs 0.02%/yr for VTBNX.
Performance
FTBRX vs. VTBNX - Performance Comparison
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Returns By Period
In the year-to-date period, FTBRX achieves a 0.32% return, which is significantly higher than VTBNX's 0.01% return. Over the past 10 years, FTBRX has outperformed VTBNX with an annualized return of 1.96%, while VTBNX has yielded a comparatively lower 1.47% annualized return.
FTBRX
- 1D
- -0.17%
- 1M
- 0.24%
- YTD
- 0.32%
- 6M
- 0.72%
- 1Y
- 3.66%
- 3Y*
- 4.88%
- 5Y*
- 1.74%
- 10Y*
- 1.96%
VTBNX
- 1D
- -0.32%
- 1M
- 0.56%
- YTD
- 0.01%
- 6M
- 0.45%
- 1Y
- 4.11%
- 3Y*
- 3.90%
- 5Y*
- 0.01%
- 10Y*
- 1.47%
FTBRX vs. VTBNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTBRX Fidelity Advisor Limited Term Bond Fund Class M | 0.32% | 6.29% | 4.17% | 5.66% | -6.45% | -1.64% | 4.76% | 5.72% | 0.48% | 1.57% |
VTBNX Vanguard Total Bond Market II Index Fund | 0.01% | 7.18% | 1.32% | 5.68% | -13.12% | -1.82% | 7.39% | 8.71% | -0.27% | 3.62% |
Correlation
The correlation between FTBRX and VTBNX is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jan 22, 2016 | 0.83 |
The correlation between FTBRX and VTBNX has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.
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Return for Risk
FTBRX vs. VTBNX — Risk / Return Rank
FTBRX
VTBNX
FTBRX vs. VTBNX - 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 II Index Fund (VTBNX). 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 | VTBNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.19 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.19 | 1.54 | +0.66 |
| Martin ratioReturn relative to average drawdown | 8.09 | 4.30 | +3.79 |
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Drawdowns
FTBRX vs. VTBNX - Drawdown Comparison
The maximum FTBRX drawdown since its inception was -12.43%, smaller than the maximum VTBNX drawdown of -18.71%. Use the drawdown chart below to compare losses from any high point for FTBRX and VTBNX.
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Drawdown Indicators
| FTBRX | VTBNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.43% | -18.71% | +6.28% |
Max Drawdown (1Y)Largest decline over 1 year | -1.71% | -2.83% | +1.12% |
Max Drawdown (3Y)Largest decline over 3 years | -1.71% | -5.97% | +4.26% |
Max Drawdown (5Y)Largest decline over 5 years | -9.99% | -18.05% | +8.06% |
Max Drawdown (10Y)Largest decline over 10 years | -10.29% | -18.71% | +8.42% |
Current DrawdownCurrent decline from peak | -0.68% | -2.52% | +1.84% |
Average DrawdownAverage peak-to-trough decline | -1.29% | -4.86% | +3.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 1.01% | -0.55% |
Volatility
FTBRX vs. VTBNX - Volatility Comparison
The current volatility for Fidelity Advisor Limited Term Bond Fund Class M (FTBRX) is 0.79%, while Vanguard Total Bond Market II Index Fund (VTBNX) has a volatility of 1.13%. This indicates that FTBRX experiences smaller price fluctuations and is considered to be less risky than VTBNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTBRX | VTBNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 1.13% | -0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 1.67% | 2.86% | -1.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.20% | 3.88% | -1.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.75% | 5.96% | -3.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.38% | 4.93% | -2.55% |
FTBRX vs. VTBNX - Expense Ratio Comparison
FTBRX has a 0.75% expense ratio, which is higher than VTBNX's 0.02% expense ratio.
Dividends
FTBRX vs. VTBNX - Dividend Comparison
FTBRX's dividend yield for the trailing twelve months is around 3.79%, less than VTBNX's 4.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTBRX Fidelity Advisor Limited Term Bond Fund Class M | 3.79% | 3.63% | 2.57% | 1.91% | 1.03% | 0.99% | 2.09% | 2.13% | 1.97% | 1.48% | 1.54% | 1.31% |
VTBNX Vanguard Total Bond Market II Index Fund | 4.07% | 3.95% | 3.77% | 3.13% | 2.54% | 1.82% | 3.12% | 2.79% | 2.56% | 2.52% | 2.55% | 0.00% |
Frequently Asked Questions
FTBRX and VTBNX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTBNX has higher volatility (1.13%) compared to FTBRX (0.79%). In terms of maximum drawdown, FTBRX dropped -12.43% vs VTBNX's -18.71%.
FTBRX currently has the higher Sharpe Ratio (1.71 vs 1.12), 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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