VSBSX vs. FNBGX
VSBSX (Vanguard Short-Term Treasury Index Fund Admiral Shares) and FNBGX (Fidelity Long-Term Treasury Bond Index Fund) are both Government Bonds funds - VSBSX tracks the Spliced Bloomberg U.S. Treasury 1-3 Year Index while FNBGX tracks the Bloomberg U.S. Long Treasury Bond Index. Both are passively managed. Over the past 5 years, VSBSX returned 1.91%/yr vs -7.27%/yr for FNBGX. Their 0.60 correlation means they have sometimes moved together and sometimes differently. VSBSX charges 0.06%/yr vs 0.03%/yr for FNBGX.
Performance
VSBSX vs. FNBGX - Performance Comparison
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Returns By Period
In the year-to-date period, VSBSX achieves a 0.76% return, which is significantly higher than FNBGX's -3.60% return.
VSBSX
- 1D
- -0.05%
- 1M
- 0.10%
- 6M
- 0.60%
- YTD
- 0.76%
- 1Y
- 2.61%
- 3Y*
- 4.39%
- 5Y*
- 1.91%
- 10Y*
- 1.74%
- ALL TIME*
- 1.41%
FNBGX
- 1D
- -0.68%
- 1M
- -3.83%
- 6M
- -3.19%
- YTD
- -3.60%
- 1Y
- -2.02%
- 3Y*
- -0.74%
- 5Y*
- -7.27%
- 10Y*
- —
- ALL TIME*
- -1.45%
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 |
VSBSX vs. FNBGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSBSX Vanguard Short-Term Treasury Index Fund Admiral Shares | 0.76% | 5.08% | 4.39% | 4.23% | -3.87% | -0.69% | 3.09% | 3.51% | 1.52% | -0.22% |
FNBGX Fidelity Long-Term Treasury Bond Index Fund | -3.60% | 5.30% | -6.18% | 3.20% | -29.89% | -5.17% | 17.58% | 14.24% | -1.62% | 1.86% |
Correlation
The correlation between VSBSX and FNBGX is 0.65, 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. | 0.65 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2017 | 0.60 |
The correlation between VSBSX and FNBGX has been stable across timeframes, ranging from 0.60 to 0.65 - a consistent structural relationship.
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Return for Risk
VSBSX vs. FNBGX — Risk / Return Rank
VSBSX
FNBGX
VSBSX vs. FNBGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX) 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.
| VSBSX | FNBGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.47 | ||
| Sortino ratioReturn per unit of downside risk | +3.85 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 0.99 | +0.50 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | -0.10 | +3.80 |
| Martin ratioReturn relative to average drawdown | 14.76 | -0.23 | +14.98 |
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Drawdowns
VSBSX vs. FNBGX - Drawdown Comparison
The maximum VSBSX drawdown since its inception was -5.77%, smaller than the maximum FNBGX drawdown of -46.86%. Use the drawdown chart below to compare losses from any high point for VSBSX and FNBGX.
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Drawdown Indicators
| VSBSX | FNBGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.77% | -46.86% | +41.09% |
Max Drawdown (1Y)Largest decline over 1 year | -0.84% | -7.38% | +6.54% |
Max Drawdown (3Y)Largest decline over 3 years | -0.84% | -13.48% | +12.64% |
Max Drawdown (5Y)Largest decline over 5 years | -5.72% | -41.54% | +35.82% |
Max Drawdown (10Y)Largest decline over 10 years | -5.77% | — | — |
Current DrawdownCurrent decline from peak | -0.05% | -39.51% | +39.46% |
Average DrawdownAverage peak-to-trough decline | -0.59% | -21.94% | +21.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 3.29% | -3.08% |
Volatility
VSBSX vs. FNBGX - Volatility Comparison
The current volatility for Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX) is 0.36%, while Fidelity Long-Term Treasury Bond Index Fund (FNBGX) has a volatility of 2.25%. This indicates that VSBSX experiences smaller price fluctuations and is considered to be less risky 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
| VSBSX | FNBGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 2.25% | -1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 0.99% | 6.37% | -5.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.30% | 8.46% | -7.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.96% | 14.46% | -12.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.54% | 14.11% | -12.57% |
VSBSX vs. FNBGX - Expense Ratio Comparison
VSBSX has a 0.06% expense ratio, which is higher than FNBGX's 0.03% 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
VSBSX vs. FNBGX - Dividend Comparison
VSBSX's dividend yield for the trailing twelve months is around 3.48%, less than FNBGX's 3.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNBGX Fidelity Long-Term Treasury Bond Index Fund | 3.82% | 3.88% | 3.75% | 3.20% | 2.26% | 2.47% | 3.96% | 2.63% | 2.93% | 0.70% | 0.00% | 0.00% |
VSBSX Vanguard Short-Term Treasury Index Fund Admiral Shares | 3.48% | 3.98% | 4.50% | 3.29% | 1.12% | 0.63% | 1.72% | 2.26% | 1.80% | 1.10% | 0.76% | 0.71% |
Frequently Asked Questions
VSBSX and FNBGX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNBGX has higher volatility (2.25%) compared to VSBSX (0.36%). In terms of maximum drawdown, VSBSX dropped -5.77% vs FNBGX's -46.86%.
VSBSX currently has the higher Sharpe Ratio (2.38 vs -0.09), 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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