VCORX vs. FHIGX
VCORX (Vanguard Core Bond Fund Investor Shares) and FHIGX (Fidelity Municipal Income Fund) are both mutual funds - VCORX is a Total Bond Market fund managed by Vanguard, while FHIGX is a Municipal Bonds fund managed by Fidelity. Over the past 10 years, VCORX returned 1.91%/yr vs 1.97%/yr for FHIGX. Their 0.49 correlation means their historical movements had little consistent relationship. VCORX charges 0.20%/yr vs 0.45%/yr for FHIGX.
Performance
VCORX vs. FHIGX - Performance Comparison
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Returns By Period
In the year-to-date period, VCORX achieves a -0.25% return, which is significantly lower than FHIGX's -0.01% return. Both investments have delivered pretty close results over the past 10 years, with VCORX having a 1.91% annualized return and FHIGX not far ahead at 1.97%.
VCORX
- 1D
- 0.00%
- 1M
- -0.89%
- 6M
- -0.57%
- YTD
- -0.25%
- 1Y
- 2.22%
- 3Y*
- 4.35%
- 5Y*
- -0.09%
- 10Y*
- 1.91%
- ALL TIME*
- 2.16%
FHIGX
- 1D
- -0.25%
- 1M
- -2.10%
- 6M
- -0.75%
- YTD
- -0.01%
- 1Y
- 4.79%
- 3Y*
- 3.54%
- 5Y*
- 0.34%
- 10Y*
- 1.97%
- ALL TIME*
- 3.60%
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 |
VCORX vs. FHIGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCORX Vanguard Core Bond Fund Investor Shares | -0.25% | 7.68% | 2.10% | 5.90% | -13.27% | -0.80% | 10.19% | 9.47% | -0.92% | 4.34% |
FHIGX Fidelity Municipal Income Fund | -0.01% | 5.37% | 1.68% | 7.14% | -10.98% | 2.43% | 4.42% | 8.51% | 0.81% | 6.69% |
Correlation
The correlation between VCORX and FHIGX is 0.51, 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. | 0.51 |
Correlation (3Y) Balances recent behavior with more history. | 0.58 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.52 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.49 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2016 | 0.49 |
The correlation between VCORX and FHIGX has been stable across timeframes, ranging from 0.49 to 0.58 - a consistent structural relationship.
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Return for Risk
VCORX vs. FHIGX — Risk / Return Rank
VCORX
FHIGX
VCORX vs. FHIGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Core Bond Fund Investor Shares (VCORX) and Fidelity Municipal Income Fund (FHIGX). 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.
| VCORX | FHIGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.08 | ||
| Sortino ratioReturn per unit of downside risk | -1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.44 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 1.75 | -0.59 |
| Martin ratioReturn relative to average drawdown | 2.98 | 5.53 | -2.56 |
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Drawdowns
VCORX vs. FHIGX - Drawdown Comparison
The maximum VCORX drawdown since its inception was -18.14%, smaller than the maximum FHIGX drawdown of -32.80%. Use the drawdown chart below to compare losses from any high point for VCORX and FHIGX.
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Drawdown Indicators
| VCORX | FHIGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.14% | -32.80% | +14.66% |
Max Drawdown (1Y)Largest decline over 1 year | -2.64% | -3.27% | +0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -4.95% | -5.19% | +0.24% |
Max Drawdown (5Y)Largest decline over 5 years | -18.14% | -16.18% | -1.96% |
Max Drawdown (10Y)Largest decline over 10 years | -18.14% | -16.18% | -1.96% |
Current DrawdownCurrent decline from peak | -2.01% | -2.24% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -4.22% | -4.52% | +0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 1.03% | 0.00% |
Volatility
VCORX vs. FHIGX - Volatility Comparison
The current volatility for Vanguard Core Bond Fund Investor Shares (VCORX) is 0.91%, while Fidelity Municipal Income Fund (FHIGX) has a volatility of 1.00%. This indicates that VCORX experiences smaller price fluctuations and is considered to be less risky than FHIGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCORX | FHIGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 1.00% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 2.40% | +0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.60% | 2.96% | +0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.81% | 4.18% | +1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.80% | 4.25% | +0.55% |
VCORX vs. FHIGX - Expense Ratio Comparison
VCORX has a 0.20% expense ratio, which is lower than FHIGX's 0.45% expense ratio.
Dividends
VCORX vs. FHIGX - Dividend Comparison
VCORX's dividend yield for the trailing twelve months is around 4.31%, more than FHIGX's 2.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHIGX Fidelity Municipal Income Fund | 2.88% | 4.00% | 2.98% | 2.83% | 1.81% | 2.64% | 2.79% | 3.16% | 3.66% | 4.45% | 4.88% | 3.65% |
VCORX Vanguard Core Bond Fund Investor Shares | 4.31% | 4.70% | 4.93% | 3.99% | 2.90% | 1.91% | 2.95% | 2.93% | 2.98% | 2.62% | 2.20% | 0.00% |
Frequently Asked Questions
VCORX and FHIGX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FHIGX has higher volatility (1.00%) compared to VCORX (0.91%). In terms of maximum drawdown, VCORX dropped -18.14% vs FHIGX's -32.80%.
FHIGX currently has the higher Sharpe Ratio (1.93 vs 0.85), 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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