VMBSX vs. FYBTX
VMBSX (Vanguard Mortgage-Backed Securities Index Fund Admiral Shares) and FYBTX (Fidelity Series Short-Term Credit Fund) are both Total Bond Market funds. Over the past 10 years, VMBSX returned 1.72%/yr vs 2.53%/yr for FYBTX. Their 0.65 correlation means they have sometimes moved together and sometimes differently. VMBSX charges 0.07%/yr vs 0.00%/yr for FYBTX.
Performance
VMBSX vs. FYBTX - Performance Comparison
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Returns By Period
In the year-to-date period, VMBSX achieves a -0.08% return, which is significantly lower than FYBTX's 0.97% return. Over the past 10 years, VMBSX has underperformed FYBTX with an annualized return of 1.72%, while FYBTX has yielded a comparatively higher 2.53% annualized return.
VMBSX
- 1D
- -0.38%
- 1M
- -1.02%
- 6M
- -0.42%
- YTD
- -0.08%
- 1Y
- 3.41%
- 3Y*
- 4.65%
- 5Y*
- 0.27%
- 10Y*
- 1.72%
- ALL TIME*
- 2.31%
FYBTX
- 1D
- 0.00%
- 1M
- -0.20%
- 6M
- 0.60%
- YTD
- 0.97%
- 1Y
- 3.09%
- 3Y*
- 5.12%
- 5Y*
- 2.70%
- 10Y*
- 2.53%
- ALL TIME*
- 2.56%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VMBSX vs. FYBTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMBSX Vanguard Mortgage-Backed Securities Index Fund Admiral Shares | -0.08% | 8.43% | 1.76% | 4.99% | -11.56% | -1.35% | 3.74% | 11.47% | 0.87% | 2.32% |
FYBTX Fidelity Series Short-Term Credit Fund | 0.97% | 5.72% | 5.13% | 6.08% | -3.50% | -0.54% | 3.99% | 5.07% | 1.66% | 1.50% |
Correlation
The correlation between VMBSX and FYBTX 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. | 0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.65 |
The correlation between VMBSX and FYBTX shifts across timeframes, from 0.65 (all time) to 0.75 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VMBSX vs. FYBTX — Risk / Return Rank
VMBSX
FYBTX
VMBSX vs. FYBTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mortgage-Backed Securities Index Fund Admiral Shares (VMBSX) and Fidelity Series Short-Term Credit Fund (FYBTX). 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.
| VMBSX | FYBTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.48 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 2.95 | -1.35 |
| Martin ratioReturn relative to average drawdown | 4.52 | 11.50 | -6.98 |
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Drawdowns
VMBSX vs. FYBTX - Drawdown Comparison
The maximum VMBSX drawdown since its inception was -17.44%, which is greater than FYBTX's maximum drawdown of -6.00%. Use the drawdown chart below to compare losses from any high point for VMBSX and FYBTX.
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Drawdown Indicators
| VMBSX | FYBTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.44% | -6.00% | -11.44% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -1.19% | -1.48% |
Max Drawdown (3Y)Largest decline over 3 years | -6.43% | -1.19% | -5.24% |
Max Drawdown (5Y)Largest decline over 5 years | -17.01% | -6.00% | -11.01% |
Max Drawdown (10Y)Largest decline over 10 years | -17.44% | -6.00% | -11.44% |
Current DrawdownCurrent decline from peak | -2.09% | -0.30% | -1.79% |
Average DrawdownAverage peak-to-trough decline | -2.47% | -0.71% | -1.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.30% | +0.64% |
Volatility
VMBSX vs. FYBTX - Volatility Comparison
Vanguard Mortgage-Backed Securities Index Fund Admiral Shares (VMBSX) has a higher volatility of 1.17% compared to Fidelity Series Short-Term Credit Fund (FYBTX) at 0.41%. This indicates that VMBSX's price experiences larger fluctuations and is considered to be riskier than FYBTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMBSX | FYBTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 0.41% | +0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 3.05% | 1.40% | +1.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.81% | 1.87% | +1.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.44% | 2.20% | +4.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.88% | 1.92% | +2.96% |
VMBSX vs. FYBTX - Expense Ratio Comparison
VMBSX has a 0.07% expense ratio, which is higher than FYBTX's 0.00% 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
VMBSX vs. FYBTX - Dividend Comparison
VMBSX's dividend yield for the trailing twelve months is around 3.87%, less than FYBTX's 4.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FYBTX Fidelity Series Short-Term Credit Fund | 4.37% | 4.66% | 3.67% | 2.76% | 1.26% | 1.65% | 2.31% | 2.72% | 2.45% | 1.59% | 1.24% | 0.00% |
VMBSX Vanguard Mortgage-Backed Securities Index Fund Admiral Shares | 3.87% | 4.18% | 4.24% | 3.28% | 2.31% | 0.99% | 2.00% | 7.48% | 2.72% | 2.16% | 1.98% | 2.01% |
Frequently Asked Questions
VMBSX and FYBTX 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.
VMBSX has higher volatility (1.17%) compared to FYBTX (0.41%). In terms of maximum drawdown, VMBSX dropped -17.44% vs FYBTX's -6.00%.
FYBTX currently has the higher Sharpe Ratio (1.91 vs 1.12), 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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