FTLTX vs. VTBIX

Last updated Jun 4, 2026

FTLTX (Fidelity Series Long-Term Treasury Bond Index Fund) and VTBIX (Vanguard Total Bond Market II Index Fund Investor Shares) are both mutual funds - FTLTX is a Government Bonds fund managed by Fidelity, while VTBIX is a Total Bond Market fund managed by Vanguard. Over the past 5 years, FTLTX returned -5.06%/yr vs 0.03%/yr for VTBIX. Their correlation of 0.91 suggests significant overlap in exposure. FTLTX charges 0.00%/yr vs 0.09%/yr for VTBIX.

Performance

FTLTX vs. VTBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Long-Term Treasury Bond Index Fund (FTLTX) 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, FTLTX achieves a -0.06% return, which is significantly lower than VTBIX's 0.30% return.

FTLTX

• 1D: 0.19%
• 1M: 1.11%
• YTD: -0.06%
• 6M: -1.19%
• 1Y: 5.75%
• 3Y*: -0.49%
• 5Y*: -5.06%
• 10Y*: —

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)

FTLTX vs. VTBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTLTX Fidelity Series Long-Term Treasury Bond Index Fund	-0.06%	5.45%	-6.13%	3.27%	-29.89%	-5.13%	17.45%	14.23%	-1.63%	8.22%
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 FTLTX and VTBIX 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	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.91

The correlation between FTLTX and VTBIX has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

Return for Risk

FTLTX vs. VTBIX — Risk / Return Rank

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

FTLTX

FTLTX Risk / Return Rank: 7
FTLTX Sharpe Ratio Rank: 7
FTLTX Sortino Ratio Rank: 7
FTLTX Omega Ratio Rank: 7
FTLTX Calmar Ratio Rank: 8
FTLTX Martin Ratio Rank: 7

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.

FTLTX vs. VTBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Long-Term Treasury Bond Index Fund (FTLTX) 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.

	FTLTX	VTBIX	Difference
Sharpe ratio Return per unit of total volatility	0.62	1.32	-0.70
Sortino ratio Return per unit of downside risk	0.95	2.00	-1.05
Omega ratio Gain probability vs. loss probability	1.11	1.23	-0.12
Calmar ratio Return relative to maximum drawdown	0.78	1.82	-1.03
Martin ratio Return relative to average drawdown	2.04	5.43	-3.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTLTX vs. VTBIX - Sharpe Ratio Comparison

The current FTLTX Sharpe Ratio is 0.62, which is lower than the VTBIX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of FTLTX 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

	FTLTX	VTBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.62	1.32	-0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.35	0.00	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	0.27	-0.29

Drawdowns

FTLTX vs. VTBIX - Drawdown Comparison

The maximum FTLTX drawdown since its inception was -46.86%, which is greater than VTBIX's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for FTLTX and VTBIX.

Drawdown Indicators

	FTLTX	VTBIX	Difference
Max Drawdown Largest peak-to-trough decline	-46.86%	-18.72%	-28.14%
Max Drawdown (1Y) Largest decline over 1 year	-7.10%	-2.84%	-4.26%
Max Drawdown (3Y) Largest decline over 3 years	-17.72%	-5.98%	-11.74%
Max Drawdown (5Y) Largest decline over 5 years	-41.52%	-18.11%	-23.41%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.72%	—
Current Drawdown Current decline from peak	-37.09%	-3.00%	-34.09%
Average Drawdown Average peak-to-trough decline	-19.99%	-4.42%	-15.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	0.95%	+1.78%

Volatility

FTLTX vs. VTBIX - Volatility Comparison

Fidelity Series Long-Term Treasury Bond Index Fund (FTLTX) has a higher volatility of 2.57% compared to Vanguard Total Bond Market II Index Fund Investor Shares (VTBIX) at 1.33%. This indicates that FTLTX'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

	FTLTX	VTBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.57%	1.33%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	6.08%	2.80%	+3.28%
Volatility (1Y) Calculated over the trailing 1-year period	9.01%	3.91%	+5.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.59%	5.95%	+8.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.87%	4.92%	+8.95%

FTLTX vs. VTBIX - Expense Ratio Comparison

FTLTX has a 0.00% expense ratio, which is lower than VTBIX's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FTLTX vs. VTBIX - Dividend Comparison

FTLTX's dividend yield for the trailing twelve months is around 3.94%, less than VTBIX's 3.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTLTX Fidelity Series Long-Term Treasury Bond Index Fund	3.94%	3.83%	3.71%	3.17%	2.20%	2.06%	12.95%	10.68%	2.89%	2.44%	0.00%	0.00%
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 FTLTX and VTBIX in my portfolio?

FTLTX and VTBIX 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.

Which is riskier, FTLTX or VTBIX?

FTLTX has higher volatility (2.57%) compared to VTBIX (1.33%). In terms of maximum drawdown, FTLTX dropped -46.86% vs VTBIX's -18.72%.

Which has better risk-adjusted returns?

VTBIX currently has the higher Sharpe Ratio (1.32 vs 0.62), 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.