VFIJX vs. FXAIX

Last updated Jun 23, 2026

VFIJX (Vanguard GNMA Fund Admiral Shares) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - VFIJX is a Government Bonds fund managed by Vanguard, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, VFIJX returned 1.42%/yr vs 15.58%/yr for FXAIX. At a correlation of -0.04, they often move in opposite directions. VFIJX charges 0.11%/yr vs 0.02%/yr for FXAIX.

Performance

VFIJX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard GNMA Fund Admiral Shares (VFIJX) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VFIJX achieves a 0.94% return, which is significantly lower than FXAIX's 10.19% return. Over the past 10 years, VFIJX has underperformed FXAIX with an annualized return of 1.42%, while FXAIX has yielded a comparatively higher 15.58% annualized return.

VFIJX

• 1D: 0.21%
• 1M: 0.85%
• YTD: 0.94%
• 6M: 1.26%
• 1Y: 5.88%
• 3Y*: 4.35%
• 5Y*: 0.64%
• 10Y*: 1.42%

FXAIX

• 1D: 1.09%
• 1M: 0.47%
• YTD: 10.19%
• 6M: 9.68%
• 1Y: 27.18%
• 3Y*: 20.98%
• 5Y*: 14.10%
• 10Y*: 15.58%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VFIJX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VFIJX Vanguard GNMA Fund Admiral Shares	0.94%	7.84%	1.17%	5.28%	-10.72%	-1.15%	3.84%	5.94%	0.99%	1.98%
FXAIX Fidelity 500 Index Fund	10.19%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between VFIJX and FXAIX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since May 4, 2011	-0.04

The correlation between VFIJX and FXAIX shifts across timeframes, from -0.04 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VFIJX vs. FXAIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VFIJX

VFIJX Risk / Return Rank: 32
VFIJX Sharpe Ratio Rank: 31
VFIJX Sortino Ratio Rank: 33
VFIJX Omega Ratio Rank: 31
VFIJX Calmar Ratio Rank: 37
VFIJX Martin Ratio Rank: 30

FXAIX

FXAIX Risk / Return Rank: 66
FXAIX Sharpe Ratio Rank: 64
FXAIX Sortino Ratio Rank: 59
FXAIX Omega Ratio Rank: 61
FXAIX Calmar Ratio Rank: 68
FXAIX Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VFIJX vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard GNMA Fund Admiral Shares (VFIJX) and Fidelity 500 Index Fund (FXAIX). 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.

	VFIJX	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	2.17	-0.67
Sortino ratio: Return per unit of downside risk	2.24	2.93	-0.69
Omega ratio: Gain probability vs. loss probability	1.27	1.39	-0.12
Calmar ratio: Return relative to maximum drawdown	2.18	3.04	-0.86
Martin ratio: Return relative to average drawdown	6.53	13.75	-7.22

VFIJX vs. FXAIX - Sharpe Ratio Comparison

The current VFIJX Sharpe Ratio is 1.50, which is lower than the FXAIX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of VFIJX and FXAIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VFIJX vs. FXAIX - Drawdown Comparison

The maximum VFIJX drawdown since its inception was -16.06%, smaller than the maximum FXAIX drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for VFIJX and FXAIX.

Drawdown Indicators

	VFIJX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-16.06%	-33.79%	+17.73%
Max Drawdown (1Y) Largest decline over 1 year	-2.71%	-8.89%	+6.18%
Max Drawdown (3Y) Largest decline over 3 years	-6.95%	-18.76%	+11.81%
Max Drawdown (5Y) Largest decline over 5 years	-15.68%	-24.50%	+8.82%
Max Drawdown (10Y) Largest decline over 10 years	-16.06%	-33.79%	+17.73%
Current Drawdown Current decline from peak	-1.25%	-1.36%	+0.11%
Average Drawdown Average peak-to-trough decline	-1.74%	-3.79%	+2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	1.96%	-1.06%

Volatility

VFIJX vs. FXAIX - Volatility Comparison

The current volatility for Vanguard GNMA Fund Admiral Shares (VFIJX) is 1.29%, while Fidelity 500 Index Fund (FXAIX) has a volatility of 4.77%. This indicates that VFIJX experiences smaller price fluctuations and is considered to be less risky than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VFIJX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.29%	4.77%	-3.48%
Volatility (6M) Calculated over the trailing 6-month period	2.90%	9.91%	-7.01%
Volatility (1Y) Calculated over the trailing 1-year period	3.94%	12.47%	-8.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.22%	17.01%	-10.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.71%	18.11%	-13.40%

VFIJX vs. FXAIX - Expense Ratio Comparison

VFIJX has a 0.11% expense ratio, which is higher than FXAIX's 0.02% 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%.

Dividends

VFIJX vs. FXAIX - Dividend Comparison

VFIJX's dividend yield for the trailing twelve months is around 3.78%, more than FXAIX's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXAIX Fidelity 500 Index Fund	1.04%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%
VFIJX Vanguard GNMA Fund Admiral Shares	3.78%	3.72%	3.67%	3.34%	2.45%	0.73%	1.98%	2.86%	3.00%	2.73%	3.11%	2.94%

Frequently Asked Questions

Can I hold both VFIJX and FXAIX in my portfolio?

VFIJX and FXAIX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VFIJX or FXAIX?

FXAIX has higher volatility (4.77%) compared to VFIJX (1.29%). In terms of maximum drawdown, VFIJX dropped -16.06% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FXAIX currently has the higher Sharpe Ratio (2.17 vs 1.50), 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.