VBIPX vs. FXNAX
Compare and contrast key facts about Vanguard Short-Term Bond Index Fund Institutional Plus (VBIPX) and Fidelity U.S. Bond Index Fund (FXNAX).
VBIPX is managed by Vanguard. It was launched on Sep 29, 2011. FXNAX is managed by Fidelity.
Performance
VBIPX vs. FXNAX - Performance Comparison
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VBIPX vs. FXNAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBIPX Vanguard Short-Term Bond Index Fund Institutional Plus | -0.22% | 6.12% | 3.78% | 4.45% | -5.68% | -1.17% | 4.73% | 4.89% | 1.38% | 1.21% |
FXNAX Fidelity U.S. Bond Index Fund | -0.26% | 7.14% | 1.35% | 5.82% | -13.55% | -2.10% | 7.63% | 8.50% | 0.04% | 3.50% |
Returns By Period
In the year-to-date period, VBIPX achieves a -0.22% return, which is significantly higher than FXNAX's -0.26% return. Over the past 10 years, VBIPX has outperformed FXNAX with an annualized return of 1.88%, while FXNAX has yielded a comparatively lower 1.54% annualized return.
VBIPX
- 1D
- 0.10%
- 1M
- -0.87%
- YTD
- -0.22%
- 6M
- 0.78%
- 1Y
- 3.67%
- 3Y*
- 4.03%
- 5Y*
- 1.52%
- 10Y*
- 1.88%
FXNAX
- 1D
- 0.19%
- 1M
- -1.60%
- YTD
- -0.26%
- 6M
- 0.47%
- 1Y
- 3.69%
- 3Y*
- 3.52%
- 5Y*
- 0.10%
- 10Y*
- 1.54%
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VBIPX vs. FXNAX - Expense Ratio Comparison
VBIPX has a 0.04% expense ratio, which is higher than FXNAX's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
VBIPX vs. FXNAX — Risk / Return Rank
VBIPX
FXNAX
VBIPX vs. FXNAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Bond Index Fund Institutional Plus (VBIPX) and Fidelity U.S. Bond Index Fund (FXNAX). 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.
| VBIPX | FXNAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.59 | 0.93 | +0.66 |
Sortino ratioReturn per unit of downside risk | 2.60 | 1.33 | +1.27 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.16 | +0.16 |
Calmar ratioReturn relative to maximum drawdown | 2.73 | 1.66 | +1.07 |
Martin ratioReturn relative to average drawdown | 9.97 | 4.68 | +5.29 |
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
| VBIPX | FXNAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.59 | 0.93 | +0.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.02 | +0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | 0.31 | +0.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 0.45 | +0.33 |
Correlation
The correlation between VBIPX and FXNAX is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VBIPX vs. FXNAX - Dividend Comparison
VBIPX's dividend yield for the trailing twelve months is around 3.62%, more than FXNAX's 3.34% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBIPX Vanguard Short-Term Bond Index Fund Institutional Plus | 3.62% | 3.86% | 3.40% | 2.01% | 1.40% | 1.26% | 1.82% | 2.27% | 2.04% | 1.69% | 1.53% | 1.46% |
FXNAX Fidelity U.S. Bond Index Fund | 3.34% | 3.58% | 3.40% | 3.15% | 1.81% | 1.74% | 2.92% | 2.68% | 2.74% | 2.57% | 2.76% | 2.52% |
Drawdowns
VBIPX vs. FXNAX - Drawdown Comparison
The maximum VBIPX drawdown since its inception was -8.72%, smaller than the maximum FXNAX drawdown of -19.51%. Use the drawdown chart below to compare losses from any high point for VBIPX and FXNAX.
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Drawdown Indicators
| VBIPX | FXNAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.72% | -19.51% | +10.79% |
Max Drawdown (1Y)Largest decline over 1 year | -1.54% | -2.71% | +1.17% |
Max Drawdown (5Y)Largest decline over 5 years | -8.69% | -18.54% | +9.85% |
Max Drawdown (10Y)Largest decline over 10 years | -8.72% | -19.51% | +10.79% |
Current DrawdownCurrent decline from peak | -1.16% | -3.53% | +2.37% |
Average DrawdownAverage peak-to-trough decline | -1.19% | -3.87% | +2.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 0.96% | -0.54% |
Volatility
VBIPX vs. FXNAX - Volatility Comparison
The current volatility for Vanguard Short-Term Bond Index Fund Institutional Plus (VBIPX) is 0.73%, while Fidelity U.S. Bond Index Fund (FXNAX) has a volatility of 1.55%. This indicates that VBIPX experiences smaller price fluctuations and is considered to be less risky than FXNAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBIPX | FXNAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 1.55% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 1.50% | 2.58% | -1.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.42% | 4.35% | -1.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.93% | 6.04% | -3.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.39% | 4.99% | -2.60% |