VBILX vs. FCNVX
VBILX (Vanguard Intermediate-Term Bond Index Fund Admiral Shares) and FCNVX (Fidelity Conservative Income Bond Institutional Class) are both Total Bond Market funds. Over the past 10 years, VBILX returned 1.88%/yr vs 2.58%/yr for FCNVX. At a 0.26 correlation, their price movements are largely independent. VBILX charges 0.07%/yr vs 0.25%/yr for FCNVX.
Performance
VBILX vs. FCNVX - Performance Comparison
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Returns By Period
In the year-to-date period, VBILX achieves a -0.34% return, which is significantly lower than FCNVX's 1.50% return. Over the past 10 years, VBILX has underperformed FCNVX with an annualized return of 1.88%, while FCNVX has yielded a comparatively higher 2.58% annualized return.
VBILX
- 1D
- -0.29%
- 1M
- -0.11%
- YTD
- -0.34%
- 6M
- -0.27%
- 1Y
- 4.16%
- 3Y*
- 4.27%
- 5Y*
- 0.15%
- 10Y*
- 1.88%
FCNVX
- 1D
- 0.00%
- 1M
- 0.33%
- YTD
- 1.50%
- 6M
- 1.85%
- 1Y
- 4.14%
- 3Y*
- 5.03%
- 5Y*
- 3.58%
- 10Y*
- 2.58%
VBILX vs. FCNVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBILX Vanguard Intermediate-Term Bond Index Fund Admiral Shares | -0.34% | 8.57% | 1.54% | 6.09% | -13.59% | -2.36% | 9.82% | 10.20% | -0.15% | 3.86% |
FCNVX Fidelity Conservative Income Bond Institutional Class | 1.50% | 4.51% | 5.43% | 5.86% | 0.85% | -0.06% | 1.10% | 3.00% | 1.82% | 1.42% |
Correlation
The correlation between VBILX and FCNVX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since May 27, 2011 | 0.26 |
The correlation between VBILX and FCNVX shifts across timeframes, from 0.26 (all time) to 0.37 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VBILX vs. FCNVX — Risk / Return Rank
VBILX
FCNVX
VBILX vs. FCNVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Bond Index Fund Admiral Shares (VBILX) and Fidelity Conservative Income Bond Institutional Class (FCNVX). 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.
| VBILX | FCNVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.45 | ||
| Sortino ratioReturn per unit of downside risk | -22.35 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 14.09 | -12.89 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 42.87 | -41.47 |
| Martin ratioReturn relative to average drawdown | 4.20 | 146.17 | -141.96 |
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
| VBILX | FCNVX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.15 | 3.60 | -2.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 2.79 | -2.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 2.48 | -2.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 2.20 | -1.53 |
Drawdowns
VBILX vs. FCNVX - Drawdown Comparison
The maximum VBILX drawdown since its inception was -19.26%, which is greater than FCNVX's maximum drawdown of -2.19%. Use the drawdown chart below to compare losses from any high point for VBILX and FCNVX.
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Drawdown Indicators
| VBILX | FCNVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -2.19% | -17.07% |
Max Drawdown (1Y)Largest decline over 1 year | -3.43% | -0.10% | -3.33% |
Max Drawdown (3Y)Largest decline over 3 years | -6.05% | -0.30% | -5.75% |
Max Drawdown (5Y)Largest decline over 5 years | -19.15% | -0.59% | -18.56% |
Max Drawdown (10Y)Largest decline over 10 years | -19.26% | -2.19% | -17.07% |
Current DrawdownCurrent decline from peak | -2.12% | 0.00% | -2.12% |
Average DrawdownAverage peak-to-trough decline | -3.16% | -0.05% | -3.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 0.03% | +1.11% |
Volatility
VBILX vs. FCNVX - Volatility Comparison
Vanguard Intermediate-Term Bond Index Fund Admiral Shares (VBILX) has a higher volatility of 1.41% compared to Fidelity Conservative Income Bond Institutional Class (FCNVX) at 0.33%. This indicates that VBILX's price experiences larger fluctuations and is considered to be riskier than FCNVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBILX | FCNVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 0.33% | +1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.00% | 0.78% | +2.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 1.18% | +2.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 1.29% | +5.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.36% | 1.04% | +4.32% |
VBILX vs. FCNVX - Expense Ratio Comparison
VBILX has a 0.07% expense ratio, which is lower than FCNVX's 0.25% 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
VBILX vs. FCNVX - Dividend Comparison
VBILX's dividend yield for the trailing twelve months is around 4.22%, more than FCNVX's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCNVX Fidelity Conservative Income Bond Institutional Class | 4.15% | 4.41% | 5.17% | 4.97% | 1.24% | 0.24% | 0.99% | 2.45% | 2.21% | 1.30% | 1.01% | 0.48% |
VBILX Vanguard Intermediate-Term Bond Index Fund Admiral Shares | 4.22% | 4.01% | 3.80% | 3.09% | 1.99% | 3.39% | 2.94% | 2.73% | 2.87% | 2.73% | 3.06% | 3.09% |
Frequently Asked Questions
VBILX and FCNVX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBILX has higher volatility (1.41%) compared to FCNVX (0.33%). In terms of maximum drawdown, VBILX dropped -19.26% vs FCNVX's -2.19%.
FCNVX currently has the higher Sharpe Ratio (3.60 vs 1.15), 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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