FXNAX vs. VV
FXNAX (Fidelity U.S. Bond Index Fund) and VV (Vanguard Large-Cap ETF) are both funds - FXNAX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while VV is a Large Cap Blend Equities fund tracking the CRSP US Large Cap Index. Both are passively managed. Over the past 10 years, FXNAX returned 1.48%/yr vs 15.72%/yr for VV. At a correlation of -0.12, they often move in opposite directions. FXNAX charges 0.03%/yr vs 0.04%/yr for VV.
Performance
FXNAX vs. VV - Performance Comparison
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Returns By Period
In the year-to-date period, FXNAX achieves a 0.31% return, which is significantly lower than VV's 10.70% return. Over the past 10 years, FXNAX has underperformed VV with an annualized return of 1.48%, while VV has yielded a comparatively higher 15.72% annualized return.
FXNAX
- 1D
- -0.19%
- 1M
- 1.10%
- YTD
- 0.31%
- 6M
- 0.81%
- 1Y
- 4.76%
- 3Y*
- 4.15%
- 5Y*
- -0.06%
- 10Y*
- 1.48%
VV
- 1D
- 1.77%
- 1M
- 2.25%
- YTD
- 10.70%
- 6M
- 11.24%
- 1Y
- 27.59%
- 3Y*
- 21.46%
- 5Y*
- 13.53%
- 10Y*
- 15.72%
FXNAX vs. VV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXNAX Fidelity U.S. Bond Index Fund | 0.31% | 7.14% | 1.35% | 5.82% | -13.55% | -2.10% | 7.63% | 8.50% | 0.04% | 3.50% |
VV Vanguard Large-Cap ETF | 10.70% | 18.11% | 25.25% | 27.18% | -19.91% | 27.41% | 21.04% | 31.25% | -4.46% | 22.00% |
Correlation
The correlation between FXNAX and VV is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 4, 2011 | -0.12 |
The correlation between FXNAX and VV shifts across timeframes, from -0.12 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FXNAX vs. VV — Risk / Return Rank
FXNAX
VV
FXNAX vs. VV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. Bond Index Fund (FXNAX) and Vanguard Large-Cap ETF (VV). 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.
| FXNAX | VV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.40 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 3.01 | -1.49 |
| Martin ratioReturn relative to average drawdown | 4.45 | 13.39 | -8.93 |
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Drawdowns
FXNAX vs. VV - Drawdown Comparison
The maximum FXNAX drawdown since its inception was -19.51%, smaller than the maximum VV drawdown of -54.81%. Use the drawdown chart below to compare losses from any high point for FXNAX and VV.
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Drawdown Indicators
| FXNAX | VV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.51% | -54.81% | +35.30% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -9.21% | +6.27% |
Max Drawdown (3Y)Largest decline over 3 years | -6.16% | -18.97% | +12.81% |
Max Drawdown (5Y)Largest decline over 5 years | -18.54% | -25.66% | +7.12% |
Max Drawdown (10Y)Largest decline over 10 years | -19.51% | -34.28% | +14.77% |
Current DrawdownCurrent decline from peak | -2.98% | -0.71% | -2.27% |
Average DrawdownAverage peak-to-trough decline | -3.86% | -6.83% | +2.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 2.07% | -1.07% |
Volatility
FXNAX vs. VV - Volatility Comparison
The current volatility for Fidelity U.S. Bond Index Fund (FXNAX) is 1.43%, while Vanguard Large-Cap ETF (VV) has a volatility of 4.70%. This indicates that FXNAX experiences smaller price fluctuations and is considered to be less risky than VV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXNAX | VV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.43% | 4.70% | -3.27% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 9.83% | -6.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 12.54% | -8.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.08% | 17.31% | -11.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.01% | 18.24% | -13.23% |
FXNAX vs. VV - Expense Ratio Comparison
FXNAX has a 0.03% expense ratio, which is lower than VV's 0.04% 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
FXNAX vs. VV - Dividend Comparison
FXNAX's dividend yield for the trailing twelve months is around 3.71%, more than VV's 0.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXNAX Fidelity U.S. Bond Index Fund | 3.71% | 3.58% | 3.40% | 3.15% | 1.81% | 1.74% | 2.92% | 2.68% | 2.74% | 2.57% | 2.76% | 2.52% |
VV Vanguard Large-Cap ETF | 0.98% | 1.08% | 1.24% | 1.41% | 1.66% | 1.19% | 1.46% | 1.81% | 2.09% | 1.75% | 1.98% | 1.96% |
Frequently Asked Questions
FXNAX and VV have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VV has higher volatility (4.70%) compared to FXNAX (1.43%). In terms of maximum drawdown, FXNAX dropped -19.51% vs VV's -54.81%.
VV currently has the higher Sharpe Ratio (2.21 vs 1.14), 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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