VO vs. FNBGX
VO (Vanguard Mid-Cap ETF) and FNBGX (Fidelity Long-Term Treasury Bond Index Fund) are both funds - VO is a Mid Cap Blend Equities fund tracking the CRSP US Mid Cap Index, while FNBGX is a Government Bonds fund managed by Fidelity. Over the past 5 years, VO returned 7.79%/yr vs -5.63%/yr for FNBGX. At a correlation of -0.05, they often move in opposite directions. Both charge a 0.03% expense ratio.
Performance
VO vs. FNBGX - Performance Comparison
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Returns By Period
In the year-to-date period, VO achieves a 10.43% return, which is significantly higher than FNBGX's 0.13% return.
VO
- 1D
- 0.97%
- 1M
- 2.97%
- YTD
- 10.43%
- 6M
- 9.31%
- 1Y
- 19.60%
- 3Y*
- 15.74%
- 5Y*
- 7.79%
- 10Y*
- 11.77%
FNBGX
- 1D
- 1.10%
- 1M
- 2.94%
- YTD
- 0.13%
- 6M
- 0.69%
- 1Y
- 4.58%
- 3Y*
- -0.54%
- 5Y*
- -5.63%
- 10Y*
- —
VO vs. FNBGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VO Vanguard Mid-Cap ETF | 10.43% | 11.62% | 15.31% | 16.03% | -18.73% | 24.70% | 18.10% | 30.98% | -9.24% | 4.30% |
FNBGX Fidelity Long-Term Treasury Bond Index Fund | 0.13% | 5.30% | -6.18% | 3.20% | -29.89% | -5.17% | 17.58% | 14.24% | -1.62% | 1.86% |
Correlation
The correlation between VO and FNBGX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2017 | -0.05 |
The correlation between VO and FNBGX shifts across timeframes, from -0.05 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VO vs. FNBGX — Risk / Return Rank
VO
FNBGX
VO vs. FNBGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap ETF (VO) and Fidelity Long-Term Treasury Bond Index Fund (FNBGX). 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.
| VO | FNBGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.09 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 0.63 | +1.60 |
| Martin ratioReturn relative to average drawdown | 8.44 | 1.62 | +6.82 |
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Drawdowns
VO vs. FNBGX - Drawdown Comparison
The maximum VO drawdown since its inception was -58.87%, which is greater than FNBGX's maximum drawdown of -46.86%. Use the drawdown chart below to compare losses from any high point for VO and FNBGX.
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Drawdown Indicators
| VO | FNBGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.87% | -46.86% | -12.01% |
Max Drawdown (1Y)Largest decline over 1 year | -8.17% | -7.28% | -0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -19.02% | -17.66% | -1.36% |
Max Drawdown (5Y)Largest decline over 5 years | -27.57% | -41.54% | +13.97% |
Max Drawdown (10Y)Largest decline over 10 years | -39.37% | — | — |
Current DrawdownCurrent decline from peak | -0.45% | -37.17% | +36.72% |
Average DrawdownAverage peak-to-trough decline | -7.85% | -21.69% | +13.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 2.84% | -0.68% |
Volatility
VO vs. FNBGX - Volatility Comparison
Vanguard Mid-Cap ETF (VO) has a higher volatility of 4.31% compared to Fidelity Long-Term Treasury Bond Index Fund (FNBGX) at 2.73%. This indicates that VO's price experiences larger fluctuations and is considered to be riskier than FNBGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VO | FNBGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.31% | 2.73% | +1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 9.71% | 6.17% | +3.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.74% | 8.87% | +3.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.65% | 14.58% | +3.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.96% | 14.19% | +4.77% |
VO vs. FNBGX - Expense Ratio Comparison
Both VO and FNBGX have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VO vs. FNBGX - Dividend Comparison
VO's dividend yield for the trailing twelve months is around 1.36%, less than FNBGX's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNBGX Fidelity Long-Term Treasury Bond Index Fund | 3.99% | 3.88% | 3.75% | 3.20% | 2.26% | 2.47% | 3.96% | 2.63% | 2.93% | 0.70% | 0.00% | 0.00% |
VO Vanguard Mid-Cap ETF | 1.36% | 1.52% | 1.49% | 1.52% | 1.60% | 1.12% | 1.45% | 1.48% | 1.82% | 1.35% | 1.45% | 1.47% |
Frequently Asked Questions
VO and FNBGX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VO has higher volatility (4.31%) compared to FNBGX (2.73%). In terms of maximum drawdown, VO dropped -58.87% vs FNBGX's -46.86%.
VO currently has the higher Sharpe Ratio (1.43 vs 0.52), 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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