VFIIX vs. FSHBX
VFIIX (Vanguard GNMA Fund Investor Shares) and FSHBX (Fidelity Short-Term Bond Fund) are both Total Bond Market funds. Over the past 10 years, VFIIX returned 1.25%/yr vs 2.10%/yr for FSHBX. A 0.66 correlation means they provide meaningful diversification when combined. VFIIX charges 0.21%/yr vs 0.45%/yr for FSHBX.
Performance
VFIIX vs. FSHBX - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both stocks are quite close, with VFIIX having a 0.67% return and FSHBX slightly lower at 0.65%. Over the past 10 years, VFIIX has underperformed FSHBX with an annualized return of 1.25%, while FSHBX has yielded a comparatively higher 2.10% annualized return.
VFIIX
- 1D
- -0.21%
- 1M
- -0.23%
- 6M
- 0.35%
- YTD
- 0.67%
- 1Y
- 5.09%
- 3Y*
- 4.57%
- 5Y*
- 0.49%
- 10Y*
- 1.25%
FSHBX
- 1D
- 0.00%
- 1M
- 0.09%
- 6M
- 0.77%
- YTD
- 0.65%
- 1Y
- 3.35%
- 3Y*
- 4.85%
- 5Y*
- 2.27%
- 10Y*
- 2.10%
VFIIX vs. FSHBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFIIX Vanguard GNMA Fund Investor Shares | 0.67% | 7.73% | 1.07% | 5.17% | -10.81% | -1.24% | 3.73% | 5.84% | 0.89% | 1.88% |
FSHBX Fidelity Short-Term Bond Fund | 0.65% | 5.49% | 4.73% | 5.35% | -3.86% | -0.92% | 3.59% | 4.20% | 1.21% | 1.16% |
Correlation
The correlation between VFIIX and FSHBX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 1986 | 0.66 |
The correlation between VFIIX and FSHBX has been stable across timeframes, ranging from 0.66 to 0.76 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VFIIX vs. FSHBX — Risk / Return Rank
VFIIX
FSHBX
VFIIX vs. FSHBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard GNMA Fund Investor Shares (VFIIX) and Fidelity Short-Term Bond Fund (FSHBX). 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.
| VFIIX | FSHBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.41 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.64 | 2.77 | -1.12 |
| Martin ratioReturn relative to average drawdown | 4.99 | 10.56 | -5.56 |
Loading charts...
Drawdowns
VFIIX vs. FSHBX - Drawdown Comparison
The maximum VFIIX drawdown since its inception was -25.80%, which is greater than FSHBX's maximum drawdown of -8.80%. Use the drawdown chart below to compare losses from any high point for VFIIX and FSHBX.
Loading charts...
Drawdown Indicators
| VFIIX | FSHBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.80% | -8.80% | -17.00% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -1.17% | -1.66% |
Max Drawdown (3Y)Largest decline over 3 years | -6.97% | -1.17% | -5.80% |
Max Drawdown (5Y)Largest decline over 5 years | -15.79% | -6.36% | -9.43% |
Max Drawdown (10Y)Largest decline over 10 years | -16.20% | -6.51% | -9.69% |
Current DrawdownCurrent decline from peak | -1.50% | -0.24% | -1.26% |
Average DrawdownAverage peak-to-trough decline | -2.97% | -1.04% | -1.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.31% | +0.63% |
Volatility
VFIIX vs. FSHBX - Volatility Comparison
Vanguard GNMA Fund Investor Shares (VFIIX) has a higher volatility of 1.14% compared to Fidelity Short-Term Bond Fund (FSHBX) at 0.47%. This indicates that VFIIX's price experiences larger fluctuations and is considered to be riskier than FSHBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VFIIX | FSHBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 0.47% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 3.07% | 1.44% | +1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.93% | 1.91% | +2.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.23% | 2.22% | +4.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.71% | 1.86% | +2.85% |
VFIIX vs. FSHBX - Expense Ratio Comparison
VFIIX has a 0.21% expense ratio, which is lower than FSHBX's 0.45% expense ratio.
Dividends
VFIIX vs. FSHBX - Dividend Comparison
VFIIX's dividend yield for the trailing twelve months is around 3.70%, less than FSHBX's 4.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSHBX Fidelity Short-Term Bond Fund | 4.16% | 4.26% | 4.00% | 3.00% | 0.83% | 1.04% | 2.62% | 2.13% | 1.78% | 1.27% | 1.12% | 0.88% |
VFIIX Vanguard GNMA Fund Investor Shares | 3.70% | 3.62% | 3.58% | 3.23% | 2.34% | 0.63% | 1.87% | 2.76% | 2.90% | 2.64% | 3.01% | 2.84% |
Frequently Asked Questions
VFIIX and FSHBX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VFIIX has higher volatility (1.14%) compared to FSHBX (0.47%). In terms of maximum drawdown, VFIIX dropped -25.80% vs FSHBX's -8.80%.
FSHBX currently has the higher Sharpe Ratio (1.70 vs 1.19), 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.
Find the right allocation for VFIIX and FSHBX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer