VPC vs. FBND
VPC (Virtus Private Credit ETF) and FBND (Fidelity Total Bond ETF) are both exchange-traded funds - VPC is a Nontraditional Bonds fund tracking the Indxx Private Credit Index, while FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity. VPC is passively managed, while FBND is actively managed. Over the past 5 years, VPC returned 0.87%/yr vs 0.31%/yr for FBND. Their 0.17 correlation means their historical movements had little consistent relationship. VPC charges 0.75%/yr vs 0.36%/yr for FBND.
Performance
VPC vs. FBND - Performance Comparison
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Returns By Period
In the year-to-date period, VPC achieves a -11.53% return, which is significantly lower than FBND's -0.33% return.
VPC
- 1D
- 0.17%
- 1M
- -1.53%
- 6M
- -11.08%
- YTD
- -11.53%
- 1Y
- -16.30%
- 3Y*
- -1.29%
- 5Y*
- 0.87%
- 10Y*
- —
- ALL TIME*
- 3.63%
FBND
- 1D
- -0.27%
- 1M
- -1.26%
- 6M
- -0.60%
- YTD
- -0.33%
- 1Y
- 2.08%
- 3Y*
- 4.55%
- 5Y*
- 0.31%
- 10Y*
- 2.27%
- ALL TIME*
- 2.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $133.84M | $127.41M | $124.15M | |
| $87.07K | $126.50K | $156.13K |
VPC vs. FBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VPC Virtus Private Credit ETF | -11.53% | -6.75% | 10.52% | 22.20% | -11.70% | 34.18% | -9.50% | 9.25% |
FBND Fidelity Total Bond ETF | -0.33% | 7.57% | 2.13% | 6.81% | -12.54% | -0.43% | 9.41% | 7.87% |
Correlation
The correlation between VPC and FBND is 0.27, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.27 |
Correlation (3Y) Balances recent behavior with more history. | 0.25 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2019 | 0.17 |
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Return for Risk
VPC vs. FBND — Risk / Return Rank
VPC
FBND
VPC vs. FBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Private Credit ETF (VPC) 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.
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.
| VPC | FBND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.02 | ||
| Sortino ratioReturn per unit of downside risk | -2.86 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.13 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | 1.09 | -1.88 |
| Martin ratioReturn relative to average drawdown | -1.37 | 2.77 | -4.13 |
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Drawdowns
VPC vs. FBND - Drawdown Comparison
The maximum VPC drawdown since its inception was -53.45%, which is greater than FBND's maximum drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for VPC and FBND.
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Drawdown Indicators
| VPC | FBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.45% | -17.25% | -36.20% |
Max Drawdown (1Y)Largest decline over 1 year | -21.55% | -2.66% | -18.89% |
Max Drawdown (3Y)Largest decline over 3 years | -24.86% | -4.95% | -19.91% |
Max Drawdown (5Y)Largest decline over 5 years | -24.86% | -17.25% | -7.61% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.25% | — |
Current DrawdownCurrent decline from peak | -21.64% | -2.24% | -19.40% |
Average DrawdownAverage peak-to-trough decline | -7.95% | -3.32% | -4.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.51% | 1.05% | +11.46% |
Volatility
VPC vs. FBND - Volatility Comparison
Virtus Private Credit ETF (VPC) has a higher volatility of 3.44% compared to Fidelity Total Bond ETF (FBND) at 0.95%. This indicates that VPC'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.
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Volatility by Period
| VPC | FBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.44% | 0.95% | +2.49% |
Volatility (6M)Calculated over the trailing 6-month period | 11.09% | 2.94% | +8.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.74% | 3.77% | +9.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.58% | 5.93% | +7.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.42% | 6.10% | +14.32% |
VPC vs. FBND - Expense Ratio Comparison
VPC has a 0.75% expense ratio, which is higher than FBND's 0.36% expense ratio.
Dividends
VPC vs. FBND - Dividend Comparison
VPC's dividend yield for the trailing twelve months is around 16.46%, more than FBND's 4.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBND Fidelity Total Bond ETF | 4.77% | 4.70% | 4.73% | 4.26% | 3.07% | 1.86% | 4.25% | 2.90% | 2.93% | 2.56% | 2.84% | 3.26% |
VPC Virtus Private Credit ETF | 16.46% | 14.33% | 11.26% | 11.71% | 10.74% | 6.31% | 10.06% | 8.19% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VPC and FBND have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VPC has higher volatility (3.44%) compared to FBND (0.95%). In terms of maximum drawdown, VPC dropped -53.45% vs FBND's -17.25%.
On 5-year performance, VPC leads with 0.87% vs 0.31% for FBND. On fees, FBND is cheaper at 0.36% per year. On volatility, FBND has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VPC has performed better with a 0.87% return vs 0.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FBND is cheaper with a 0.36% expense ratio, compared with 0.75% for VPC.
VPC has the higher dividend yield at 16.46%, compared with 4.77% for FBND.
VPC is categorized as Nontraditional Bonds, while FBND is Intermediate Core-Plus Bond. They also come from different issuers: Virtus and Fidelity. Their fees differ too: 0.75% for VPC and 0.36% for FBND.
FBND currently has the higher Sharpe Ratio (0.77 vs -1.25), 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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