VGCAX vs. FIWDX

Last updated Aug 5, 2026

VGCAX (Vanguard Global Credit Bond Fund Admiral Shares) and FIWDX (Fidelity Advisor Strategic Income Fund Class Z) are both Total Bond Market funds. Over the past 5 years, VGCAX returned 0.90%/yr vs 2.74%/yr for FIWDX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. VGCAX charges 0.25%/yr vs 0.61%/yr for FIWDX.

Performance

VGCAX vs. FIWDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Global Credit Bond Fund Admiral Shares (VGCAX) and Fidelity Advisor Strategic Income Fund Class Z (FIWDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VGCAX achieves a 0.51% return, which is significantly lower than FIWDX's 2.29% return.

VGCAX

• 1D: 0.32%
• 1M: -0.89%
• 6M: -0.06%
• YTD: 0.51%
• 1Y: 2.91%
• 3Y*: 5.93%
• 5Y*: 0.90%
• 10Y*: —
• ALL TIME*: 3.79%

FIWDX

• 1D: 0.41%
• 1M: -0.82%
• 6M: 1.62%
• YTD: 2.29%
• 1Y: 5.73%
• 3Y*: 7.46%
• 5Y*: 2.74%
• 10Y*: —
• ALL TIME*: 4.30%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FIWDX Fidelity Advisor Strategic Income Fund Class Z	$0.00	$0.00	$0.00
VGCAX Vanguard Global Credit Bond Fund Admiral Shares	$0.00	$0.00	$0.00

VGCAX vs. FIWDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VGCAX Vanguard Global Credit Bond Fund Admiral Shares	0.51%	7.30%	3.99%	9.22%	-13.43%	-0.64%	10.81%	13.05%	0.96%
FIWDX Fidelity Advisor Strategic Income Fund Class Z	2.29%	8.98%	6.07%	9.20%	-11.76%	3.51%	7.60%	11.20%	-0.76%

Correlation

The correlation between VGCAX and FIWDX is 0.70, 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.	0.70
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
Correlation (All Time) Calculated using the full available price history since Nov 15, 2018	0.73

The correlation between VGCAX and FIWDX shifts across timeframes, from 0.70 (1 year) to 0.82 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

VGCAX vs. FIWDX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VGCAX

VGCAX Risk / Return Rank: 22
VGCAX Sharpe Ratio Rank: 24
VGCAX Sortino Ratio Rank: 23
VGCAX Omega Ratio Rank: 22
VGCAX Calmar Ratio Rank: 21
VGCAX Martin Ratio Rank: 22

FIWDX

FIWDX Risk / Return Rank: 59
FIWDX Sharpe Ratio Rank: 56
FIWDX Sortino Ratio Rank: 60
FIWDX Omega Ratio Rank: 61
FIWDX Calmar Ratio Rank: 61
FIWDX Martin Ratio Rank: 59

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VGCAX vs. FIWDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Credit Bond Fund Admiral Shares (VGCAX) and Fidelity Advisor Strategic Income Fund Class Z (FIWDX). 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.

	VGCAX	FIWDX	Difference
Sharpe ratio: Return per unit of total volatility	0.94	1.59	-0.65
Sortino ratio: Return per unit of downside risk	1.35	2.35	-1.01
Omega ratio: Gain probability vs. loss probability	1.16	1.31	-0.15
Calmar ratio: Return relative to maximum drawdown	1.06	2.30	-1.24
Martin ratio: Return relative to average drawdown	3.31	8.51	-5.20

VGCAX vs. FIWDX - Sharpe Ratio Comparison

The current VGCAX Sharpe Ratio is 0.94, which is lower than the FIWDX Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of VGCAX and FIWDX, 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

VGCAX vs. FIWDX - Drawdown Comparison

The maximum VGCAX drawdown since its inception was -18.63%, which is greater than FIWDX's maximum drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for VGCAX and FIWDX.

Drawdown Indicators

	VGCAX	FIWDX	Difference
Max Drawdown Largest peak-to-trough decline	-18.63%	-15.96%	-2.67%
Max Drawdown (1Y) Largest decline over 1 year	-2.90%	-2.61%	-0.29%
Max Drawdown (3Y) Largest decline over 3 years	-3.54%	-3.63%	+0.09%
Max Drawdown (5Y) Largest decline over 5 years	-18.52%	-15.96%	-2.56%
Current Drawdown Current decline from peak	-1.25%	-1.30%	+0.05%
Average Drawdown Average peak-to-trough decline	-4.27%	-3.15%	-1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	0.71%	+0.22%

Volatility

VGCAX vs. FIWDX - Volatility Comparison

The current volatility for Vanguard Global Credit Bond Fund Admiral Shares (VGCAX) is 0.95%, while Fidelity Advisor Strategic Income Fund Class Z (FIWDX) has a volatility of 1.07%. This indicates that VGCAX experiences smaller price fluctuations and is considered to be less risky than FIWDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGCAX	FIWDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.95%	1.07%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	2.76%	3.31%	-0.55%
Volatility (1Y) Calculated over the trailing 1-year period	3.30%	3.79%	-0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.08%	4.60%	+0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.81%	4.87%	-0.06%

VGCAX vs. FIWDX - Expense Ratio Comparison

VGCAX has a 0.25% expense ratio, which is lower than FIWDX's 0.61% expense ratio.

Dividends

VGCAX vs. FIWDX - Dividend Comparison

VGCAX's dividend yield for the trailing twelve months is around 5.05%, more than FIWDX's 4.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FIWDX Fidelity Advisor Strategic Income Fund Class Z	4.07%	4.39%	4.21%	4.02%	2.99%	4.28%	4.62%	4.39%	1.13%
VGCAX Vanguard Global Credit Bond Fund Admiral Shares	5.05%	4.91%	4.65%	4.48%	2.72%	3.16%	4.65%	6.88%	0.36%

Frequently Asked Questions

Can I hold both VGCAX and FIWDX in my portfolio?

VGCAX and FIWDX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VGCAX or FIWDX?

FIWDX has higher volatility (1.07%) compared to VGCAX (0.95%). In terms of maximum drawdown, VGCAX dropped -18.63% vs FIWDX's -15.96%.

Which has better risk-adjusted returns?

FIWDX currently has the higher Sharpe Ratio (1.59 vs 0.94), 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.