VFIIX vs. FSIAX
VFIIX (Vanguard GNMA Fund Investor Shares) and FSIAX (Fidelity Advisor Strategic Income Fund Class M) are both Total Bond Market funds. Over the past 10 years, VFIIX returned 1.29%/yr vs 4.08%/yr for FSIAX. A 0.54 correlation means they provide meaningful diversification when combined. VFIIX charges 0.21%/yr vs 0.96%/yr for FSIAX.
Performance
VFIIX vs. FSIAX - Performance Comparison
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Returns By Period
In the year-to-date period, VFIIX achieves a 0.68% return, which is significantly lower than FSIAX's 3.28% return. Over the past 10 years, VFIIX has underperformed FSIAX with an annualized return of 1.29%, while FSIAX has yielded a comparatively higher 4.08% annualized return.
VFIIX
- 1D
- -0.21%
- 1M
- 0.63%
- YTD
- 0.68%
- 6M
- 1.10%
- 1Y
- 5.32%
- 3Y*
- 4.14%
- 5Y*
- 0.47%
- 10Y*
- 1.29%
FSIAX
- 1D
- -0.08%
- 1M
- 1.24%
- YTD
- 3.28%
- 6M
- 3.57%
- 1Y
- 8.93%
- 3Y*
- 7.49%
- 5Y*
- 2.73%
- 10Y*
- 4.08%
VFIIX vs. FSIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFIIX Vanguard GNMA Fund Investor Shares | 0.68% | 7.73% | 1.07% | 5.17% | -10.81% | -1.24% | 3.73% | 5.84% | 0.89% | 1.88% |
FSIAX Fidelity Advisor Strategic Income Fund Class M | 3.28% | 8.59% | 5.03% | 8.83% | -12.06% | 3.22% | 7.30% | 10.76% | -2.93% | 7.54% |
Correlation
The correlation between VFIIX and FSIAX is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 1994 | 0.54 |
The correlation between VFIIX and FSIAX shifts across timeframes, from 0.54 (all time) to 0.76 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VFIIX vs. FSIAX — Risk / Return Rank
VFIIX
FSIAX
VFIIX vs. FSIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard GNMA Fund Investor Shares (VFIIX) and Fidelity Advisor Strategic Income Fund Class M (FSIAX). 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 | FSIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.53 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | 3.48 | -1.52 |
| Martin ratioReturn relative to average drawdown | 6.10 | 14.83 | -8.73 |
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Drawdowns
VFIIX vs. FSIAX - Drawdown Comparison
The maximum VFIIX drawdown since its inception was -25.80%, which is greater than FSIAX's maximum drawdown of -17.81%. Use the drawdown chart below to compare losses from any high point for VFIIX and FSIAX.
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Drawdown Indicators
| VFIIX | FSIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.80% | -17.81% | -7.99% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -2.66% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -6.97% | -4.13% | -2.84% |
Max Drawdown (5Y)Largest decline over 5 years | -15.79% | -16.19% | +0.40% |
Max Drawdown (10Y)Largest decline over 10 years | -16.20% | -16.19% | -0.01% |
Current DrawdownCurrent decline from peak | -1.48% | -0.08% | -1.40% |
Average DrawdownAverage peak-to-trough decline | -2.98% | -1.83% | -1.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 0.62% | +0.29% |
Volatility
VFIIX vs. FSIAX - Volatility Comparison
The current volatility for Vanguard GNMA Fund Investor Shares (VFIIX) is 1.21%, while Fidelity Advisor Strategic Income Fund Class M (FSIAX) has a volatility of 1.36%. This indicates that VFIIX experiences smaller price fluctuations and is considered to be less risky than FSIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFIIX | FSIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 1.36% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 3.01% | 3.12% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.98% | 3.69% | +0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.22% | 4.54% | +1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.71% | 4.46% | +0.25% |
VFIIX vs. FSIAX - Expense Ratio Comparison
VFIIX has a 0.21% expense ratio, which is lower than FSIAX's 0.96% expense ratio.
Dividends
VFIIX vs. FSIAX - Dividend Comparison
VFIIX's dividend yield for the trailing twelve months is around 3.69%, less than FSIAX's 4.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSIAX Fidelity Advisor Strategic Income Fund Class M | 4.01% | 4.06% | 3.21% | 3.71% | 2.71% | 4.01% | 4.32% | 4.07% | 3.51% | 3.70% | 3.49% | 3.18% |
VFIIX Vanguard GNMA Fund Investor Shares | 3.69% | 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 FSIAX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSIAX has higher volatility (1.36%) compared to VFIIX (1.21%). In terms of maximum drawdown, VFIIX dropped -25.80% vs FSIAX's -17.81%.
FSIAX currently has the higher Sharpe Ratio (2.52 vs 1.40), 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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