FYBTX vs. VBTIX
FYBTX (Fidelity Series Short-Term Credit Fund) and VBTIX (Vanguard Total Bond Market Index Fund Institutional Shares) are both Total Bond Market funds. Over the past 10 years, FYBTX returned 2.57%/yr vs 1.58%/yr for VBTIX. A 0.72 correlation means they provide meaningful diversification when combined. FYBTX charges 0.00%/yr vs 0.04%/yr for VBTIX.
Performance
FYBTX vs. VBTIX - Performance Comparison
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Returns By Period
In the year-to-date period, FYBTX achieves a 0.91% return, which is significantly higher than VBTIX's 0.43% return. Over the past 10 years, FYBTX has outperformed VBTIX with an annualized return of 2.57%, while VBTIX has yielded a comparatively lower 1.58% annualized return.
FYBTX
- 1D
- 0.00%
- 1M
- 0.28%
- YTD
- 0.91%
- 6M
- 1.24%
- 1Y
- 4.18%
- 3Y*
- 5.26%
- 5Y*
- 2.73%
- 10Y*
- 2.57%
VBTIX
- 1D
- 0.00%
- 1M
- 0.55%
- YTD
- 0.43%
- 6M
- 0.35%
- 1Y
- 5.36%
- 3Y*
- 4.06%
- 5Y*
- 0.22%
- 10Y*
- 1.58%
FYBTX vs. VBTIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FYBTX Fidelity Series Short-Term Credit Fund | 0.91% | 5.72% | 5.13% | 6.08% | -3.50% | -0.54% | 3.99% | 5.07% | 1.66% | 1.50% |
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | 0.43% | 7.18% | 1.27% | 5.75% | -13.15% | -1.95% | 7.75% | 8.74% | -0.24% | 3.56% |
Correlation
The correlation between FYBTX and VBTIX is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016 | 0.72 |
The correlation between FYBTX and VBTIX has been stable across timeframes, ranging from 0.72 to 0.79 - a consistent structural relationship.
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Return for Risk
FYBTX vs. VBTIX — Risk / Return Rank
FYBTX
VBTIX
FYBTX vs. VBTIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Short-Term Credit Fund (FYBTX) 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.
| FYBTX | VBTIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +2.23 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.24 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 3.53 | 1.86 | +1.67 |
| Martin ratioReturn relative to average drawdown | 13.19 | 5.60 | +7.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FYBTX | VBTIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.20 | 1.36 | +0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.25 | 0.04 | +1.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.34 | 0.32 | +1.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.38 | 0.95 | +0.43 |
Drawdowns
FYBTX vs. VBTIX - Drawdown Comparison
The maximum FYBTX drawdown since its inception was -6.00%, smaller than the maximum VBTIX drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for FYBTX and VBTIX.
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Drawdown Indicators
| FYBTX | VBTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.00% | -18.90% | +12.90% |
Max Drawdown (1Y)Largest decline over 1 year | -1.19% | -2.89% | +1.70% |
Max Drawdown (3Y)Largest decline over 3 years | -1.19% | -5.99% | +4.80% |
Max Drawdown (5Y)Largest decline over 5 years | -6.00% | -18.13% | +12.13% |
Max Drawdown (10Y)Largest decline over 10 years | -6.00% | -18.90% | +12.90% |
Current DrawdownCurrent decline from peak | -0.10% | -2.25% | +2.15% |
Average DrawdownAverage peak-to-trough decline | -0.72% | -2.32% | +1.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.32% | 0.96% | -0.64% |
Volatility
FYBTX vs. VBTIX - Volatility Comparison
The current volatility for Fidelity Series Short-Term Credit Fund (FYBTX) is 0.54%, while Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) has a volatility of 1.38%. This indicates that FYBTX 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.
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Volatility by Period
| FYBTX | VBTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.54% | 1.38% | -0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 1.35% | 2.80% | -1.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.91% | 3.97% | -2.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.19% | 6.02% | -3.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.92% | 4.98% | -3.06% |
FYBTX vs. VBTIX - Expense Ratio Comparison
FYBTX has a 0.00% expense ratio, which is lower than VBTIX'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
FYBTX vs. VBTIX - Dividend Comparison
FYBTX's dividend yield for the trailing twelve months is around 4.73%, more than VBTIX's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FYBTX Fidelity Series Short-Term Credit Fund | 4.73% | 4.66% | 3.67% | 2.76% | 1.26% | 1.65% | 2.31% | 2.72% | 2.45% | 1.59% | 1.24% | 0.00% |
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | 3.99% | 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
FYBTX and VBTIX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBTIX has higher volatility (1.38%) compared to FYBTX (0.54%). In terms of maximum drawdown, FYBTX dropped -6.00% vs VBTIX's -18.90%.
FYBTX currently has the higher Sharpe Ratio (2.20 vs 1.36), 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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