TBIRX vs. FANCX

Last updated Jul 8, 2026

TBIRX (Nuveen Bond Index Fund Retirement Class) and FANCX (Fidelity Advisor Short-Term Bond Fund Class C) are both Total Bond Market funds. Over the past 5 years, TBIRX returned -0.57%/yr vs 1.23%/yr for FANCX. A 0.69 correlation means they provide meaningful diversification when combined. TBIRX charges 0.32%/yr vs 1.51%/yr for FANCX.

Performance

TBIRX vs. FANCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Bond Index Fund Retirement Class (TBIRX) and Fidelity Advisor Short-Term Bond Fund Class C (FANCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TBIRX achieves a 0.62% return, which is significantly higher than FANCX's 0.23% return.

TBIRX

• 1D: 0.00%
• 1M: 0.73%
• 6M: 0.52%
• YTD: 0.62%
• 1Y: 4.25%
• 3Y*: 4.18%
• 5Y*: -0.57%
• 10Y*: 1.01%

FANCX

• 1D: 0.00%
• 1M: 0.35%
• 6M: 0.23%
• YTD: 0.23%
• 1Y: 2.38%
• 3Y*: 3.80%
• 5Y*: 1.23%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TBIRX vs. FANCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TBIRX Nuveen Bond Index Fund Retirement Class	0.62%	6.85%	0.81%	5.01%	-13.87%	-2.05%	7.50%	8.28%	-0.57%	3.17%
FANCX Fidelity Advisor Short-Term Bond Fund Class C	0.23%	4.38%	3.74%	3.91%	-4.63%	-1.81%	2.74%	2.90%	0.23%	-0.02%

Correlation

The correlation between TBIRX and FANCX is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jul 22, 2016	0.69

The correlation between TBIRX and FANCX has been stable across timeframes, ranging from 0.69 to 0.75 - a consistent structural relationship.

Return for Risk

TBIRX vs. FANCX — Risk / Return Rank

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

TBIRX

TBIRX Risk / Return Rank: 20
TBIRX Sharpe Ratio Rank: 21
TBIRX Sortino Ratio Rank: 22
TBIRX Omega Ratio Rank: 19
TBIRX Calmar Ratio Rank: 20
TBIRX Martin Ratio Rank: 18

FANCX

FANCX Risk / Return Rank: 41
FANCX Sharpe Ratio Rank: 34
FANCX Sortino Ratio Rank: 45
FANCX Omega Ratio Rank: 50
FANCX Calmar Ratio Rank: 42
FANCX Martin Ratio Rank: 33

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.

TBIRX vs. FANCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Bond Index Fund Retirement Class (TBIRX) and Fidelity Advisor Short-Term Bond Fund Class C (FANCX). 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.

	TBIRX	FANCX	Difference
Sharpe ratio: Return per unit of total volatility	1.04	1.32	-0.28
Sortino ratio: Return per unit of downside risk	1.54	2.20	-0.66
Omega ratio: Gain probability vs. loss probability	1.18	1.30	-0.12
Calmar ratio: Return relative to maximum drawdown	1.31	2.03	-0.72
Martin ratio: Return relative to average drawdown	3.65	6.09	-2.45

TBIRX vs. FANCX - Sharpe Ratio Comparison

The current TBIRX Sharpe Ratio is 1.04, which is comparable to the FANCX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of TBIRX and FANCX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TBIRX vs. FANCX - Drawdown Comparison

The maximum TBIRX drawdown since its inception was -19.64%, which is greater than FANCX's maximum drawdown of -7.79%. Use the drawdown chart below to compare losses from any high point for TBIRX and FANCX.

Drawdown Indicators

	TBIRX	FANCX	Difference
Max Drawdown Largest peak-to-trough decline	-19.64%	-7.79%	-11.85%
Max Drawdown (1Y) Largest decline over 1 year	-3.03%	-1.18%	-1.85%
Max Drawdown (3Y) Largest decline over 3 years	-6.22%	-1.18%	-5.04%
Max Drawdown (5Y) Largest decline over 5 years	-18.79%	-7.24%	-11.55%
Max Drawdown (10Y) Largest decline over 10 years	-19.64%	—	—
Current Drawdown Current decline from peak	-4.49%	-0.34%	-4.15%
Average Drawdown Average peak-to-trough decline	-3.93%	-1.55%	-2.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	0.39%	+0.70%

Volatility

TBIRX vs. FANCX - Volatility Comparison

Nuveen Bond Index Fund Retirement Class (TBIRX) has a higher volatility of 1.05% compared to Fidelity Advisor Short-Term Bond Fund Class C (FANCX) at 0.69%. This indicates that TBIRX's price experiences larger fluctuations and is considered to be riskier than FANCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TBIRX	FANCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.05%	0.69%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	2.92%	1.35%	+1.57%
Volatility (1Y) Calculated over the trailing 1-year period	3.83%	1.81%	+2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.05%	2.14%	+3.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.99%	1.78%	+3.21%

TBIRX vs. FANCX - Expense Ratio Comparison

TBIRX has a 0.32% expense ratio, which is lower than FANCX's 1.51% expense ratio.

Dividends

TBIRX vs. FANCX - Dividend Comparison

TBIRX's dividend yield for the trailing twelve months is around 3.67%, more than FANCX's 3.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FANCX Fidelity Advisor Short-Term Bond Fund Class C	3.08%	3.20%	2.95%	1.75%	0.15%	0.36%	1.68%	1.00%	0.69%	0.21%	0.07%	0.00%
TBIRX Nuveen Bond Index Fund Retirement Class	3.67%	3.48%	2.91%	2.23%	1.89%	1.81%	2.90%	2.56%	2.23%	2.19%	2.06%	1.95%

Frequently Asked Questions

Can I hold both TBIRX and FANCX in my portfolio?

TBIRX and FANCX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TBIRX or FANCX?

TBIRX has higher volatility (1.05%) compared to FANCX (0.69%). In terms of maximum drawdown, TBIRX dropped -19.64% vs FANCX's -7.79%.

Which has better risk-adjusted returns?

FANCX currently has the higher Sharpe Ratio (1.32 vs 1.04), 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.