VBTLX vs. FTBFX
VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) and FTBFX (Fidelity Total Bond Fund) are both mutual funds - VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index, while FTBFX is a Intermediate Core-Plus Bond fund actively managed by Fidelity. VBTLX is passively managed, while FTBFX is actively managed. Over the past 10 years, VBTLX returned 1.57%/yr vs 2.46%/yr for FTBFX. Their correlation of 0.93 suggests significant overlap in exposure. VBTLX charges 0.04%/yr vs 0.45%/yr for FTBFX.
Performance
VBTLX vs. FTBFX - Performance Comparison
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Returns By Period
In the year-to-date period, VBTLX achieves a 0.42% return, which is significantly lower than FTBFX's 0.57% return. Over the past 10 years, VBTLX has underperformed FTBFX with an annualized return of 1.57%, while FTBFX has yielded a comparatively higher 2.46% annualized return.
VBTLX
- 1D
- 0.31%
- 1M
- 0.97%
- YTD
- 0.42%
- 6M
- 0.76%
- 1Y
- 4.68%
- 3Y*
- 4.08%
- 5Y*
- 0.02%
- 10Y*
- 1.57%
FTBFX
- 1D
- 0.21%
- 1M
- 0.89%
- YTD
- 0.57%
- 6M
- 0.92%
- 1Y
- 5.08%
- 3Y*
- 4.76%
- 5Y*
- 0.58%
- 10Y*
- 2.46%
VBTLX vs. FTBFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 0.42% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
FTBFX Fidelity Total Bond Fund | 0.57% | 7.50% | 2.13% | 7.25% | -13.58% | -0.44% | 9.34% | 9.89% | -0.66% | 4.19% |
Correlation
The correlation between VBTLX and FTBFX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2002 | 0.93 |
The correlation between VBTLX and FTBFX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
VBTLX vs. FTBFX — Risk / Return Rank
VBTLX
FTBFX
VBTLX vs. FTBFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) and Fidelity Total Bond Fund (FTBFX). 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.
| VBTLX | FTBFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.24 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.76 | -0.13 |
| Martin ratioReturn relative to average drawdown | 4.63 | 5.10 | -0.48 |
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Drawdowns
VBTLX vs. FTBFX - Drawdown Comparison
The maximum VBTLX drawdown since its inception was -18.81%, roughly equal to the maximum FTBFX drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for VBTLX and FTBFX.
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Drawdown Indicators
| VBTLX | FTBFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.81% | -18.25% | -0.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -2.89% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -6.00% | -5.82% | -0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -18.14% | -18.25% | +0.11% |
Max Drawdown (10Y)Largest decline over 10 years | -18.81% | -18.25% | -0.56% |
Current DrawdownCurrent decline from peak | -2.18% | -1.31% | -0.87% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -2.32% | -0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 1.00% | +0.01% |
Volatility
VBTLX vs. FTBFX - Volatility Comparison
Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) and Fidelity Total Bond Fund (FTBFX) have volatilities of 1.21% and 1.21%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBTLX | FTBFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 1.21% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.86% | 2.88% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.90% | 3.80% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.01% | 5.67% | +0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.99% | 4.73% | +0.26% |
VBTLX vs. FTBFX - Expense Ratio Comparison
VBTLX has a 0.04% expense ratio, which is lower than FTBFX's 0.45% expense ratio.
Dividends
VBTLX vs. FTBFX - Dividend Comparison
VBTLX's dividend yield for the trailing twelve months is around 3.98%, less than FTBFX's 4.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTBFX Fidelity Total Bond Fund | 4.36% | 4.36% | 4.15% | 4.15% | 2.54% | 1.89% | 5.22% | 3.03% | 3.19% | 2.97% | 3.61% | 3.30% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.98% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
Frequently Asked Questions
With a correlation of 0.96, VBTLX and FTBFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FTBFX has higher volatility (1.21%) compared to VBTLX (1.21%). In terms of maximum drawdown, VBTLX dropped -18.81% vs FTBFX's -18.25%.
FTBFX currently has the higher Sharpe Ratio (1.34 vs 1.21), 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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