VPLS vs. FBND

Last updated Aug 1, 2026

VPLS (Vanguard Core-Plus Bond ETF) and FBND (Fidelity Total Bond ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past year, VPLS returned 2.61% vs 2.08% for FBND. Their 0.97 correlation means they have historically moved very closely together. VPLS charges 0.20%/yr vs 0.36%/yr for FBND.

Performance

VPLS vs. FBND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Core-Plus Bond ETF (VPLS) 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, VPLS achieves a -0.07% return, which is significantly higher than FBND's -0.33% return.

VPLS

• 1D: -0.18%
• 1M: -1.09%
• 6M: -0.51%
• YTD: -0.07%
• 1Y: 2.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.02%

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%

*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)
FBND Fidelity Total Bond ETF	$133.84M	$127.41M	$124.15M
VPLS Vanguard Core-Plus Bond ETF	$18.40M	$16.50M	$14.10M

VPLS vs. FBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VPLS Vanguard Core-Plus Bond ETF	-0.07%	7.86%	2.72%	2.83%
FBND Fidelity Total Bond ETF	-0.33%	7.57%	2.13%	2.54%

Correlation

The correlation between VPLS and FBND is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (All Time) Calculated using the full available price history since Dec 7, 2023	0.97

The correlation between VPLS and FBND has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

VPLS vs. FBND — Risk / Return Rank

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

VPLS

VPLS Risk / Return Rank: 37
VPLS Sharpe Ratio Rank: 39
VPLS Sortino Ratio Rank: 37
VPLS Omega Ratio Rank: 35
VPLS Calmar Ratio Rank: 37
VPLS Martin Ratio Rank: 36

FBND

FBND Risk / Return Rank: 30
FBND Sharpe Ratio Rank: 32
FBND Sortino Ratio Rank: 30
FBND Omega Ratio Rank: 28
FBND Calmar Ratio Rank: 32
FBND Martin Ratio Rank: 31

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.

VPLS vs. FBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Core-Plus Bond ETF (VPLS) 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.

	VPLS	FBND	Difference
Sharpe ratio: Return per unit of total volatility	0.96	0.77	+0.19
Sortino ratio: Return per unit of downside risk	1.39	1.14	+0.26
Omega ratio: Gain probability vs. loss probability	1.17	1.13	+0.04
Calmar ratio: Return relative to maximum drawdown	1.26	1.09	+0.17
Martin ratio: Return relative to average drawdown	3.57	2.77	+0.80

VPLS vs. FBND - Sharpe Ratio Comparison

The current VPLS Sharpe Ratio is 0.96, which is comparable to the FBND Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of VPLS 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.

Drawdowns

VPLS vs. FBND - Drawdown Comparison

The maximum VPLS drawdown since its inception was -4.17%, smaller than the maximum FBND drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for VPLS and FBND.

Drawdown Indicators

	VPLS	FBND	Difference
Max Drawdown Largest peak-to-trough decline	-4.17%	-17.25%	+13.08%
Max Drawdown (1Y) Largest decline over 1 year	-2.72%	-2.66%	-0.06%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.95%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.25%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-17.25%	—
Current Drawdown Current decline from peak	-1.91%	-2.24%	+0.33%
Average Drawdown Average peak-to-trough decline	-1.02%	-3.32%	+2.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	1.05%	-0.09%

Volatility

VPLS vs. FBND - Volatility Comparison

Vanguard Core-Plus Bond ETF (VPLS) and Fidelity Total Bond ETF (FBND) have volatilities of 0.94% and 0.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VPLS	FBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.94%	0.95%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.85%	2.94%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	3.58%	3.77%	-0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.55%	5.93%	-1.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.55%	6.10%	-1.55%

VPLS vs. FBND - Expense Ratio Comparison

VPLS has a 0.20% expense ratio, which is lower than FBND's 0.36% expense ratio.

Dividends

VPLS vs. FBND - Dividend Comparison

VPLS's dividend yield for the trailing twelve months is around 4.81%, which matches 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%
VPLS Vanguard Core-Plus Bond ETF	4.40%	4.78%	4.52%	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VPLS and FBND in my portfolio?

With a correlation of 0.98, VPLS 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, VPLS or FBND?

FBND has higher volatility (0.95%) compared to VPLS (0.94%). In terms of maximum drawdown, VPLS dropped -4.17% vs FBND's -17.25%.

Which ETF is better, VPLS or FBND?

On 1-year performance, VPLS leads with 2.61% vs 2.08% for FBND. On fees, VPLS is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VPLS or FBND?

Over the 1-year period, VPLS has performed better with a 2.61% return vs 2.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VPLS or FBND?

VPLS is cheaper with a 0.20% expense ratio, compared with 0.36% for FBND.

Which ETF pays a higher dividend yield, VPLS or FBND?

FBND has the higher dividend yield at 4.77%, compared with 4.40% for VPLS.

What is the main difference between VPLS and FBND?

They also come from different issuers: Vanguard and Fidelity. Their fees differ too: 0.20% for VPLS and 0.36% for FBND.

Which has better risk-adjusted returns?

VPLS currently has the higher Sharpe Ratio (0.96 vs 0.77), 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.