VTBNX vs. FIKRX

Last updated Jul 14, 2026

VTBNX (Vanguard Total Bond Market II Index Fund) and FIKRX (Fidelity Advisor Limited Term Bond Fund Class Z) are both Total Bond Market funds. Over the past 5 years, VTBNX returned -0.16%/yr vs 2.18%/yr for FIKRX. Their correlation of 0.83 suggests significant overlap in exposure. VTBNX charges 0.02%/yr vs 0.36%/yr for FIKRX.

Performance

VTBNX vs. FIKRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total Bond Market II Index Fund (VTBNX) and Fidelity Advisor Limited Term Bond Fund Class Z (FIKRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTBNX achieves a -0.07% return, which is significantly lower than FIKRX's 0.74% return.

VTBNX

• 1D: -0.11%
• 1M: -0.29%
• 6M: -0.07%
• YTD: -0.07%
• 1Y: 3.90%
• 3Y*: 4.18%
• 5Y*: -0.16%
• 10Y*: 1.36%

FIKRX

• 1D: -0.09%
• 1M: 0.09%
• 6M: 0.82%
• YTD: 0.74%
• 1Y: 4.04%
• 3Y*: 5.56%
• 5Y*: 2.18%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VTBNX vs. FIKRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VTBNX Vanguard Total Bond Market II Index Fund	-0.07%	7.18%	1.32%	5.68%	-13.12%	-1.82%	7.39%	8.71%	2.42%
FIKRX Fidelity Advisor Limited Term Bond Fund Class Z	0.74%	6.75%	4.97%	6.09%	-6.17%	-1.39%	5.26%	6.14%	1.01%

Correlation

The correlation between VTBNX and FIKRX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018	0.83

The correlation between VTBNX and FIKRX has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

Return for Risk

VTBNX vs. FIKRX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VTBNX

VTBNX Risk / Return Rank: 19
VTBNX Sharpe Ratio Rank: 19
VTBNX Sortino Ratio Rank: 19
VTBNX Omega Ratio Rank: 17
VTBNX Calmar Ratio Rank: 21
VTBNX Martin Ratio Rank: 18

FIKRX

FIKRX Risk / Return Rank: 68
FIKRX Sharpe Ratio Rank: 66
FIKRX Sortino Ratio Rank: 80
FIKRX Omega Ratio Rank: 76
FIKRX Calmar Ratio Rank: 60
FIKRX Martin Ratio Rank: 57

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VTBNX vs. FIKRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market II Index Fund (VTBNX) and Fidelity Advisor Limited Term Bond Fund Class Z (FIKRX). 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.

	VTBNX	FIKRX	Difference
Sharpe ratio: Return per unit of total volatility	0.92	1.79	-0.87
Sortino ratio: Return per unit of downside risk	1.37	2.99	-1.62
Omega ratio: Gain probability vs. loss probability	1.16	1.37	-0.21
Calmar ratio: Return relative to maximum drawdown	1.23	2.38	-1.16
Martin ratio: Return relative to average drawdown	3.38	8.93	-5.55

VTBNX vs. FIKRX - Sharpe Ratio Comparison

The current VTBNX Sharpe Ratio is 0.92, which is lower than the FIKRX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of VTBNX and FIKRX, 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

VTBNX vs. FIKRX - Drawdown Comparison

The maximum VTBNX drawdown since its inception was -18.71%, which is greater than FIKRX's maximum drawdown of -9.79%. Use the drawdown chart below to compare losses from any high point for VTBNX and FIKRX.

Drawdown Indicators

	VTBNX	FIKRX	Difference
Max Drawdown Largest peak-to-trough decline	-18.71%	-9.79%	-8.92%
Max Drawdown (1Y) Largest decline over 1 year	-2.83%	-1.63%	-1.20%
Max Drawdown (3Y) Largest decline over 3 years	-5.97%	-1.63%	-4.34%
Max Drawdown (5Y) Largest decline over 5 years	-18.05%	-9.64%	-8.41%
Max Drawdown (10Y) Largest decline over 10 years	-18.71%	—	—
Current Drawdown Current decline from peak	-2.60%	-0.26%	-2.34%
Average Drawdown Average peak-to-trough decline	-4.84%	-1.88%	-2.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	0.43%	+0.60%

Volatility

VTBNX vs. FIKRX - Volatility Comparison

Vanguard Total Bond Market II Index Fund (VTBNX) has a higher volatility of 1.07% compared to Fidelity Advisor Limited Term Bond Fund Class Z (FIKRX) at 0.66%. This indicates that VTBNX's price experiences larger fluctuations and is considered to be riskier than FIKRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTBNX	FIKRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	0.66%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	2.92%	1.74%	+1.18%
Volatility (1Y) Calculated over the trailing 1-year period	3.79%	2.17%	+1.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.96%	2.79%	+3.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.93%	2.66%	+2.27%

VTBNX vs. FIKRX - Expense Ratio Comparison

VTBNX has a 0.02% expense ratio, which is lower than FIKRX's 0.36% expense ratio.

Dividends

VTBNX vs. FIKRX - Dividend Comparison

VTBNX's dividend yield for the trailing twelve months is around 4.10%, less than FIKRX's 4.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FIKRX Fidelity Advisor Limited Term Bond Fund Class Z	4.16%	3.98%	3.41%	2.22%	1.31%	1.33%	2.48%	2.53%	0.64%	0.00%	0.00%
VTBNX Vanguard Total Bond Market II Index Fund	4.10%	3.95%	3.77%	3.13%	2.54%	1.82%	3.12%	2.79%	2.56%	2.52%	2.55%

Frequently Asked Questions

Can I hold both VTBNX and FIKRX in my portfolio?

VTBNX and FIKRX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTBNX or FIKRX?

VTBNX has higher volatility (1.07%) compared to FIKRX (0.66%). In terms of maximum drawdown, VTBNX dropped -18.71% vs FIKRX's -9.79%.

Which has better risk-adjusted returns?

FIKRX currently has the higher Sharpe Ratio (1.79 vs 0.92), 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.