VBLIX vs. FYBTX
VBLIX (Vanguard Long-Term Bond Index Fund Institutional Plus) and FYBTX (Fidelity Series Short-Term Credit Fund) are both Total Bond Market funds. Over the past 10 years, VBLIX returned 0.02%/yr vs 2.53%/yr for FYBTX. Their 0.59 correlation means they have sometimes moved together and sometimes differently. VBLIX charges 0.04%/yr vs 0.00%/yr for FYBTX.
Performance
VBLIX vs. FYBTX - Performance Comparison
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Returns By Period
In the year-to-date period, VBLIX achieves a -2.92% return, which is significantly lower than FYBTX's 0.97% return. Over the past 10 years, VBLIX has underperformed FYBTX with an annualized return of 0.02%, while FYBTX has yielded a comparatively higher 2.53% annualized return.
VBLIX
- 1D
- 0.00%
- 1M
- -3.28%
- 6M
- -2.94%
- YTD
- -2.92%
- 1Y
- -0.64%
- 3Y*
- 0.80%
- 5Y*
- -5.21%
- 10Y*
- 0.02%
- ALL TIME*
- 2.21%
FYBTX
- 1D
- 0.00%
- 1M
- -0.20%
- 6M
- 0.60%
- YTD
- 0.97%
- 1Y
- 3.09%
- 3Y*
- 5.08%
- 5Y*
- 2.70%
- 10Y*
- 2.53%
- ALL TIME*
- 2.57%
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 |
VBLIX vs. FYBTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBLIX Vanguard Long-Term Bond Index Fund Institutional Plus | -2.92% | 6.61% | -4.11% | 6.78% | -27.20% | -3.08% | 16.29% | 19.16% | -4.70% | 10.90% |
FYBTX Fidelity Series Short-Term Credit Fund | 0.97% | 5.72% | 5.13% | 6.08% | -3.50% | -0.54% | 3.99% | 5.07% | 1.66% | 1.50% |
Correlation
The correlation between VBLIX and FYBTX is 0.60, 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. | 0.60 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.64 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.59 |
The correlation between VBLIX 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
VBLIX vs. FYBTX — Risk / Return Rank
VBLIX
FYBTX
VBLIX vs. FYBTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond Index Fund Institutional Plus (VBLIX) 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.
| VBLIX | FYBTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.95 | ||
| Sortino ratioReturn per unit of downside risk | -3.65 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.53 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | 0.17 | 3.28 | -3.11 |
| Martin ratioReturn relative to average drawdown | 0.38 | 12.78 | -12.40 |
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Drawdowns
VBLIX vs. FYBTX - Drawdown Comparison
The maximum VBLIX drawdown since its inception was -38.61%, which is greater than FYBTX's maximum drawdown of -6.00%. Use the drawdown chart below to compare losses from any high point for VBLIX and FYBTX.
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Drawdown Indicators
| VBLIX | FYBTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.61% | -6.00% | -32.61% |
Max Drawdown (1Y)Largest decline over 1 year | -5.98% | -1.19% | -4.79% |
Max Drawdown (3Y)Largest decline over 3 years | -11.55% | -1.19% | -10.36% |
Max Drawdown (5Y)Largest decline over 5 years | -36.49% | -6.00% | -30.49% |
Max Drawdown (10Y)Largest decline over 10 years | -38.61% | -6.00% | -32.61% |
Current DrawdownCurrent decline from peak | -27.27% | -0.30% | -26.97% |
Average DrawdownAverage peak-to-trough decline | -11.65% | -0.71% | -10.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 0.30% | +2.38% |
Volatility
VBLIX vs. FYBTX - Volatility Comparison
Vanguard Long-Term Bond Index Fund Institutional Plus (VBLIX) has a higher volatility of 2.08% compared to Fidelity Series Short-Term Credit Fund (FYBTX) at 0.41%. This indicates that VBLIX'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
| VBLIX | FYBTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.08% | 0.41% | +1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 6.05% | 1.40% | +4.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.91% | 1.88% | +6.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.82% | 2.20% | +10.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.55% | 1.92% | +9.63% |
VBLIX vs. FYBTX - Expense Ratio Comparison
VBLIX has a 0.04% 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
VBLIX vs. FYBTX - Dividend Comparison
VBLIX's dividend yield for the trailing twelve months is around 4.56%, more than FYBTX's 4.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
VBLIX Vanguard Long-Term Bond Index Fund Institutional Plus | 4.56% | 4.67% | 4.64% | 3.42% | 4.17% | 2.89% | 5.85% | 3.63% | 3.83% | 3.71% | 4.20% | 5.00% |
Frequently Asked Questions
VBLIX and FYBTX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBLIX has higher volatility (2.08%) compared to FYBTX (0.41%). In terms of maximum drawdown, VBLIX dropped -38.61% vs FYBTX's -6.00%.
FYBTX currently has the higher Sharpe Ratio (2.08 vs 0.13), 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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