VBLLX vs. FXNAX
Compare and contrast key facts about Vanguard Long-Term Bond Index Fund Institutional Shares (VBLLX) and Fidelity U.S. Bond Index Fund (FXNAX).
VBLLX is managed by Vanguard. It was launched on Feb 2, 2006. FXNAX is managed by Fidelity.
Performance
VBLLX vs. FXNAX - Performance Comparison
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VBLLX vs. FXNAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBLLX Vanguard Long-Term Bond Index Fund Institutional Shares | -1.24% | 6.60% | -4.12% | 7.13% | -27.20% | -3.08% | 16.27% | 19.15% | -4.71% | 10.89% |
FXNAX Fidelity U.S. Bond Index Fund | -0.45% | 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, VBLLX achieves a -1.24% return, which is significantly lower than FXNAX's -0.45% return. Over the past 10 years, VBLLX has underperformed FXNAX with an annualized return of 1.00%, while FXNAX has yielded a comparatively higher 1.52% annualized return.
VBLLX
- 1D
- 1.07%
- 1M
- -4.25%
- YTD
- -1.24%
- 6M
- -1.49%
- 1Y
- 1.54%
- 3Y*
- 0.60%
- 5Y*
- -3.06%
- 10Y*
- 1.00%
FXNAX
- 1D
- 0.48%
- 1M
- -2.25%
- YTD
- -0.45%
- 6M
- 0.56%
- 1Y
- 3.79%
- 3Y*
- 3.45%
- 5Y*
- 0.12%
- 10Y*
- 1.52%
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VBLLX vs. FXNAX - Expense Ratio Comparison
VBLLX has a 0.05% 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
VBLLX vs. FXNAX — Risk / Return Rank
VBLLX
FXNAX
VBLLX vs. FXNAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond Index Fund Institutional Shares (VBLLX) 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.
| VBLLX | FXNAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.28 | 0.99 | -0.72 |
Sortino ratioReturn per unit of downside risk | 0.43 | 1.44 | -1.00 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.17 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | 0.52 | 1.81 | -1.29 |
Martin ratioReturn relative to average drawdown | 1.28 | 5.15 | -3.87 |
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
| VBLLX | FXNAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.28 | 0.99 | -0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.24 | 0.02 | -0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.09 | 0.31 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.45 | -0.09 |
Correlation
The correlation between VBLLX and FXNAX is 0.92, 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
VBLLX vs. FXNAX - Dividend Comparison
VBLLX's dividend yield for the trailing twelve months is around 4.37%, more than FXNAX's 3.35% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBLLX Vanguard Long-Term Bond Index Fund Institutional Shares | 4.37% | 4.66% | 4.64% | 3.75% | 4.16% | 2.89% | 5.84% | 3.62% | 3.82% | 3.69% | 4.19% | 4.98% |
FXNAX Fidelity U.S. Bond Index Fund | 3.35% | 3.58% | 3.40% | 3.15% | 1.81% | 1.74% | 2.92% | 2.68% | 2.74% | 2.57% | 2.76% | 2.52% |
Drawdowns
VBLLX vs. FXNAX - Drawdown Comparison
The maximum VBLLX drawdown since its inception was -38.42%, which is greater than FXNAX's maximum drawdown of -19.51%. Use the drawdown chart below to compare losses from any high point for VBLLX and FXNAX.
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Drawdown Indicators
| VBLLX | FXNAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.42% | -19.51% | -18.91% |
Max Drawdown (1Y)Largest decline over 1 year | -6.87% | -2.71% | -4.16% |
Max Drawdown (5Y)Largest decline over 5 years | -36.29% | -18.54% | -17.75% |
Max Drawdown (10Y)Largest decline over 10 years | -38.42% | -19.51% | -18.91% |
Current DrawdownCurrent decline from peak | -25.79% | -3.72% | -22.07% |
Average DrawdownAverage peak-to-trough decline | -9.06% | -3.87% | -5.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.81% | 0.95% | +1.86% |
Volatility
VBLLX vs. FXNAX - Volatility Comparison
Vanguard Long-Term Bond Index Fund Institutional Shares (VBLLX) has a higher volatility of 3.42% compared to Fidelity U.S. Bond Index Fund (FXNAX) at 1.57%. This indicates that VBLLX's price experiences larger fluctuations and is considered to be riskier 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
| VBLLX | FXNAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.42% | 1.57% | +1.85% |
Volatility (6M)Calculated over the trailing 6-month period | 5.49% | 2.58% | +2.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.55% | 4.35% | +5.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.89% | 6.04% | +6.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.58% | 4.99% | +6.59% |