VBLAX vs. FYBTX
VBLAX (Vanguard Long-Term Bond Index Fund Admiral Shares) and FYBTX (Fidelity Series Short-Term Credit Fund) are both Total Bond Market funds. Over the past 5 years, VBLAX returned -5.20%/yr vs 2.70%/yr for FYBTX. Their 0.60 correlation means they have sometimes moved together and sometimes differently. VBLAX charges 0.07%/yr vs 0.00%/yr for FYBTX.
Performance
VBLAX vs. FYBTX - Performance Comparison
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Returns By Period
In the year-to-date period, VBLAX achieves a -3.42% return, which is significantly lower than FYBTX's 0.97% return.
VBLAX
- 1D
- -0.50%
- 1M
- -3.76%
- 6M
- -3.26%
- YTD
- -3.42%
- 1Y
- -1.17%
- 3Y*
- 1.23%
- 5Y*
- -5.20%
- 10Y*
- —
- ALL TIME*
- 0.08%
FYBTX
- 1D
- 0.00%
- 1M
- -0.20%
- 6M
- 0.60%
- YTD
- 0.97%
- 1Y
- 3.09%
- 3Y*
- 5.12%
- 5Y*
- 2.70%
- 10Y*
- 2.53%
- ALL TIME*
- 2.56%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VBLAX vs. FYBTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | -3.42% | 6.57% | -4.14% | 7.55% | -27.22% | -3.36% | 15.75% | 16.45% |
FYBTX Fidelity Series Short-Term Credit Fund | 0.97% | 5.72% | 5.13% | 6.08% | -3.50% | -0.54% | 3.99% | 4.41% |
Correlation
The correlation between VBLAX and FYBTX is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.59 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2019 | 0.60 |
The correlation between VBLAX and FYBTX has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.
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Return for Risk
VBLAX vs. FYBTX — Risk / Return Rank
VBLAX
FYBTX
VBLAX vs. FYBTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) and Fidelity Series Short-Term Credit Fund (FYBTX). 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.
| VBLAX | FYBTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.93 | ||
| Sortino ratioReturn per unit of downside risk | -3.48 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.48 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 2.95 | -2.97 |
| Martin ratioReturn relative to average drawdown | -0.05 | 11.50 | -11.54 |
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Drawdowns
VBLAX vs. FYBTX - Drawdown Comparison
The maximum VBLAX drawdown since its inception was -38.62%, which is greater than FYBTX's maximum drawdown of -6.00%. Use the drawdown chart below to compare losses from any high point for VBLAX and FYBTX.
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Drawdown Indicators
| VBLAX | FYBTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.62% | -6.00% | -32.62% |
Max Drawdown (1Y)Largest decline over 1 year | -6.45% | -1.19% | -5.26% |
Max Drawdown (3Y)Largest decline over 3 years | -11.56% | -1.19% | -10.37% |
Max Drawdown (5Y)Largest decline over 5 years | -36.32% | -6.00% | -30.32% |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.00% | — |
Current DrawdownCurrent decline from peak | -27.42% | -0.30% | -27.12% |
Average DrawdownAverage peak-to-trough decline | -18.25% | -0.71% | -17.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 0.30% | +2.45% |
Volatility
VBLAX vs. FYBTX - Volatility Comparison
Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) has a higher volatility of 2.10% compared to Fidelity Series Short-Term Credit Fund (FYBTX) at 0.41%. This indicates that VBLAX's price experiences larger fluctuations and is considered to be riskier than FYBTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBLAX | FYBTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.10% | 0.41% | +1.69% |
Volatility (6M)Calculated over the trailing 6-month period | 6.00% | 1.40% | +4.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.87% | 1.87% | +6.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.81% | 2.20% | +10.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.56% | 1.92% | +10.64% |
VBLAX vs. FYBTX - Expense Ratio Comparison
VBLAX has a 0.07% expense ratio, which is higher than FYBTX's 0.00% 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%.
Dividends
VBLAX vs. FYBTX - Dividend Comparison
VBLAX's dividend yield for the trailing twelve months is around 4.54%, more than FYBTX's 4.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FYBTX Fidelity Series Short-Term Credit Fund | 4.37% | 4.66% | 3.67% | 2.76% | 1.26% | 1.65% | 2.31% | 2.72% | 2.45% | 1.59% | 1.24% |
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | 4.54% | 4.64% | 4.61% | 4.08% | 4.13% | 2.62% | 5.39% | 3.25% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VBLAX and FYBTX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBLAX has higher volatility (2.10%) compared to FYBTX (0.41%). In terms of maximum drawdown, VBLAX dropped -38.62% vs FYBTX's -6.00%.
FYBTX currently has the higher Sharpe Ratio (1.91 vs -0.02), 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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