FTNT vs. VTES
FTNT (Fortinet, Inc.) is a stock, while VTES (Vanguard Short-Term Tax-Exempt Bond ETF) is Municipal Bonds fund tracking the S&P 0-7 Year National AMT-Free Municipal Bond Index. Over the past 3 years, FTNT returned 27.39%/yr vs 3.09%/yr for VTES. At a 0.03 correlation, their price movements are largely independent.
Performance
FTNT vs. VTES - Performance Comparison
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Returns By Period
In the year-to-date period, FTNT achieves a 86.37% return, which is significantly higher than VTES's 0.76% return.
FTNT
- 1D
- 1.80%
- 1M
- 10.51%
- YTD
- 86.37%
- 6M
- 83.49%
- 1Y
- 43.48%
- 3Y*
- 27.39%
- 5Y*
- 25.26%
- 10Y*
- 36.94%
VTES
- 1D
- 0.01%
- 1M
- 0.58%
- YTD
- 0.76%
- 6M
- 0.87%
- 1Y
- 3.26%
- 3Y*
- 3.09%
- 5Y*
- —
- 10Y*
- —
FTNT vs. VTES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FTNT Fortinet, Inc. | 86.37% | -15.95% | 61.42% | -5.28% |
VTES Vanguard Short-Term Tax-Exempt Bond ETF | 0.76% | 4.19% | 1.85% | 3.32% |
Correlation
The correlation between FTNT and VTES is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2023 | 0.03 |
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Return for Risk
FTNT vs. VTES — Risk / Return Rank
FTNT
VTES
FTNT vs. VTES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fortinet, Inc. (FTNT) and Vanguard Short-Term Tax-Exempt Bond ETF (VTES). 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.
| FTNT | VTES | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.67 | ||
| Sortino ratioReturn per unit of downside risk | -2.34 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.61 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 2.23 | -0.81 |
| Martin ratioReturn relative to average drawdown | 2.07 | 6.38 | -4.31 |
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Drawdowns
FTNT vs. VTES - Drawdown Comparison
The maximum FTNT drawdown since its inception was -51.20%, which is greater than VTES's maximum drawdown of -2.42%. Use the drawdown chart below to compare losses from any high point for FTNT and VTES.
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Drawdown Indicators
| FTNT | VTES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.20% | -2.42% | -48.78% |
Max Drawdown (1Y)Largest decline over 1 year | -30.90% | -1.47% | -29.43% |
Max Drawdown (3Y)Largest decline over 3 years | -38.32% | -1.80% | -36.52% |
Max Drawdown (5Y)Largest decline over 5 years | -38.32% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.32% | — | — |
Current DrawdownCurrent decline from peak | -1.12% | -0.52% | -0.60% |
Average DrawdownAverage peak-to-trough decline | -16.20% | -0.50% | -15.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.07% | 0.51% | +20.56% |
Volatility
FTNT vs. VTES - Volatility Comparison
Fortinet, Inc. (FTNT) has a higher volatility of 13.47% compared to Vanguard Short-Term Tax-Exempt Bond ETF (VTES) at 0.27%. This indicates that FTNT's price experiences larger fluctuations and is considered to be riskier than VTES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTNT | VTES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.47% | 0.27% | +13.20% |
Volatility (6M)Calculated over the trailing 6-month period | 31.69% | 0.98% | +30.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.25% | 1.24% | +44.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.97% | 1.71% | +42.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.84% | 1.71% | +39.13% |
Dividends
FTNT vs. VTES - Dividend Comparison
FTNT has not paid dividends to shareholders, while VTES's dividend yield for the trailing twelve months is around 2.75%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FTNT Fortinet, Inc. | 0.00% | 0.00% | 0.00% | 0.00% |
VTES Vanguard Short-Term Tax-Exempt Bond ETF | 2.75% | 2.77% | 2.99% | 2.03% |
Frequently Asked Questions
FTNT and VTES have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FTNT has higher volatility (13.47%) compared to VTES (0.27%). In terms of maximum drawdown, FTNT dropped -51.20% vs VTES's -2.42%.
VTES currently has the higher Sharpe Ratio (2.64 vs 0.97), 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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