VICSX vs. FBND

Last updated Jun 4, 2026

VICSX (Vanguard Intermediate-Term Corporate Bond Index Fund Admiral Shares) and FBND (Fidelity Total Bond ETF) are both funds - VICSX is a Corporate Bonds fund managed by Vanguard, while FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity. Over the past 10 years, VICSX returned 2.98%/yr vs 2.56%/yr for FBND. Their correlation of 0.84 suggests significant overlap in exposure. VICSX charges 0.07%/yr vs 0.36%/yr for FBND.

Performance

VICSX vs. FBND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Intermediate-Term Corporate Bond Index Fund Admiral Shares (VICSX) and Fidelity Total Bond ETF (FBND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VICSX achieves a 0.36% return, which is significantly lower than FBND's 0.50% return. Over the past 10 years, VICSX has outperformed FBND with an annualized return of 2.98%, while FBND has yielded a comparatively lower 2.56% annualized return.

VICSX

• 1D: 0.04%
• 1M: 0.59%
• YTD: 0.36%
• 6M: 0.32%
• 1Y: 6.40%
• 3Y*: 6.24%
• 5Y*: 1.40%
• 10Y*: 2.98%

FBND

• 1D: -0.20%
• 1M: 0.31%
• YTD: 0.50%
• 6M: 0.30%
• 1Y: 5.59%
• 3Y*: 4.70%
• 5Y*: 0.83%
• 10Y*: 2.56%

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

VICSX vs. FBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VICSX Vanguard Intermediate-Term Corporate Bond Index Fund Admiral Shares	0.36%	9.36%	3.66%	8.88%	-14.09%	-1.56%	9.52%	13.99%	-1.73%	5.47%
FBND Fidelity Total Bond ETF	0.50%	7.57%	2.13%	6.81%	-12.54%	-0.43%	9.41%	9.82%	-0.57%	3.52%

Correlation

The correlation between VICSX and FBND is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Oct 10, 2014	0.84

The correlation between VICSX and FBND shifts across timeframes, from 0.84 (all time) to 0.97 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VICSX vs. FBND — Risk / Return Rank

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

VICSX

VICSX Risk / Return Rank: 33
VICSX Sharpe Ratio Rank: 34
VICSX Sortino Ratio Rank: 34
VICSX Omega Ratio Rank: 32
VICSX Calmar Ratio Rank: 34
VICSX Martin Ratio Rank: 31

FBND

FBND Risk / Return Rank: 40
FBND Sharpe Ratio Rank: 40
FBND Sortino Ratio Rank: 42
FBND Omega Ratio Rank: 37
FBND Calmar Ratio Rank: 42
FBND Martin Ratio Rank: 39

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.

VICSX vs. FBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Corporate Bond Index Fund Admiral Shares (VICSX) and Fidelity Total Bond ETF (FBND). 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.

	VICSX	FBND	Difference
Sharpe ratio Return per unit of total volatility	1.67	1.46	+0.21
Sortino ratio Return per unit of downside risk	2.45	2.17	+0.29
Omega ratio Gain probability vs. loss probability	1.30	1.25	+0.04
Calmar ratio Return relative to maximum drawdown	2.19	2.11	+0.08
Martin ratio Return relative to average drawdown	7.29	6.37	+0.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VICSX vs. FBND - Sharpe Ratio Comparison

The current VICSX Sharpe Ratio is 1.67, which is comparable to the FBND Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of VICSX and FBND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VICSX	FBND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	1.46	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.14	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.42	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.44	+0.41

Drawdowns

VICSX vs. FBND - Drawdown Comparison

The maximum VICSX drawdown since its inception was -20.53%, which is greater than FBND's maximum drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for VICSX and FBND.

Drawdown Indicators

	VICSX	FBND	Difference
Max Drawdown Largest peak-to-trough decline	-20.53%	-17.25%	-3.28%
Max Drawdown (1Y) Largest decline over 1 year	-2.98%	-2.66%	-0.32%
Max Drawdown (3Y) Largest decline over 3 years	-6.02%	-5.94%	-0.08%
Max Drawdown (5Y) Largest decline over 5 years	-20.53%	-17.25%	-3.28%
Max Drawdown (10Y) Largest decline over 10 years	-20.53%	-17.25%	-3.28%
Current Drawdown Current decline from peak	-1.17%	-1.43%	+0.26%
Average Drawdown Average peak-to-trough decline	-3.16%	-3.35%	+0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	0.88%	+0.01%

Volatility

VICSX vs. FBND - Volatility Comparison

Vanguard Intermediate-Term Corporate Bond Index Fund Admiral Shares (VICSX) has a higher volatility of 1.37% compared to Fidelity Total Bond ETF (FBND) at 1.27%. This indicates that VICSX's price experiences larger fluctuations and is considered to be riskier than FBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VICSX	FBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.37%	1.27%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	2.90%	2.73%	+0.17%
Volatility (1Y) Calculated over the trailing 1-year period	3.93%	3.86%	+0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.17%	5.92%	+0.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.34%	6.10%	-0.76%

VICSX vs. FBND - Expense Ratio Comparison

VICSX has a 0.07% expense ratio, which is lower than FBND's 0.36% expense ratio.

Dividends

VICSX vs. FBND - Dividend Comparison

VICSX's dividend yield for the trailing twelve months is around 4.76%, more than FBND's 4.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBND Fidelity Total Bond ETF	4.70%	4.70%	4.73%	4.26%	3.07%	1.86%	4.25%	2.90%	2.93%	2.56%	2.84%	3.26%
VICSX Vanguard Intermediate-Term Corporate Bond Index Fund Admiral Shares	4.76%	4.59%	4.77%	3.70%	3.00%	2.76%	2.77%	3.35%	3.62%	3.22%	3.03%	3.36%

Frequently Asked Questions

Can I hold both VICSX and FBND in my portfolio?

With a correlation of 0.97, VICSX and FBND move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VICSX or FBND?

VICSX has higher volatility (1.37%) compared to FBND (1.27%). In terms of maximum drawdown, VICSX dropped -20.53% vs FBND's -17.25%.

Which has better risk-adjusted returns?

VICSX currently has the higher Sharpe Ratio (1.67 vs 1.46), 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.