VTSPX vs. FSAHX
VTSPX (Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares) and FSAHX (Fidelity Short Duration High Income Fund) are both mutual funds - VTSPX is a Inflation-Protected Bonds fund managed by Vanguard, while FSAHX is a High Yield Bonds fund managed by Fidelity. Over the past 10 years, VTSPX returned 3.16%/yr vs 4.59%/yr for FSAHX. At a 0.19 correlation, their price movements are largely independent. VTSPX charges 0.04%/yr vs 0.75%/yr for FSAHX.
Performance
VTSPX vs. FSAHX - Performance Comparison
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Returns By Period
In the year-to-date period, VTSPX achieves a 2.06% return, which is significantly lower than FSAHX's 3.08% return. Over the past 10 years, VTSPX has underperformed FSAHX with an annualized return of 3.16%, while FSAHX has yielded a comparatively higher 4.59% annualized return.
VTSPX
- 1D
- 0.00%
- 1M
- 0.04%
- YTD
- 2.06%
- 6M
- 2.05%
- 1Y
- 4.72%
- 3Y*
- 5.26%
- 5Y*
- 3.40%
- 10Y*
- 3.16%
FSAHX
- 1D
- 0.00%
- 1M
- 0.83%
- YTD
- 3.08%
- 6M
- 3.61%
- 1Y
- 8.91%
- 3Y*
- 8.53%
- 5Y*
- 4.48%
- 10Y*
- 4.59%
VTSPX vs. FSAHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTSPX Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares | 2.06% | 6.06% | 4.75% | 4.61% | -2.82% | 5.32% | 4.99% | 4.82% | 0.59% | 0.83% |
FSAHX Fidelity Short Duration High Income Fund | 3.08% | 7.75% | 7.74% | 10.29% | -7.06% | 2.78% | 3.69% | 9.32% | -1.24% | 4.96% |
Correlation
The correlation between VTSPX and FSAHX is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2013 | 0.19 |
The correlation between VTSPX and FSAHX shifts across timeframes, from 0.06 (1 year) to 0.26 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VTSPX vs. FSAHX — Risk / Return Rank
VTSPX
FSAHX
VTSPX vs. FSAHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares (VTSPX) and Fidelity Short Duration High Income Fund (FSAHX). 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.
| VTSPX | FSAHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.81 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 6.50 | 5.16 | +1.34 |
| Martin ratioReturn relative to average drawdown | 25.54 | 27.60 | -2.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VTSPX | FSAHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.06 | 3.10 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.28 | 1.16 | +0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.42 | 1.08 | +0.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.08 | 0.91 | +0.17 |
Drawdowns
VTSPX vs. FSAHX - Drawdown Comparison
The maximum VTSPX drawdown since its inception was -5.35%, smaller than the maximum FSAHX drawdown of -16.77%. Use the drawdown chart below to compare losses from any high point for VTSPX and FSAHX.
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Drawdown Indicators
| VTSPX | FSAHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.35% | -16.77% | +11.42% |
Max Drawdown (1Y)Largest decline over 1 year | -0.72% | -1.78% | +1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -0.92% | -3.30% | +2.38% |
Max Drawdown (5Y)Largest decline over 5 years | -5.35% | -9.43% | +4.08% |
Max Drawdown (10Y)Largest decline over 10 years | -5.35% | -16.77% | +11.42% |
Current DrawdownCurrent decline from peak | -0.04% | 0.00% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -1.01% | -1.55% | +0.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.18% | 0.33% | -0.15% |
Volatility
VTSPX vs. FSAHX - Volatility Comparison
The current volatility for Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares (VTSPX) is 0.57%, while Fidelity Short Duration High Income Fund (FSAHX) has a volatility of 0.82%. This indicates that VTSPX experiences smaller price fluctuations and is considered to be less risky than FSAHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTSPX | FSAHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | 0.82% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 1.12% | 2.22% | -1.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.52% | 2.96% | -1.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.67% | 3.87% | -1.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.23% | 4.25% | -2.02% |
VTSPX vs. FSAHX - Expense Ratio Comparison
VTSPX has a 0.04% expense ratio, which is lower than FSAHX's 0.75% expense ratio.
Dividends
VTSPX vs. FSAHX - Dividend Comparison
VTSPX's dividend yield for the trailing twelve months is around 3.59%, less than FSAHX's 7.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSAHX Fidelity Short Duration High Income Fund | 7.28% | 7.36% | 6.08% | 5.97% | 3.26% | 2.85% | 3.19% | 4.22% | 4.52% | 4.11% | 4.73% | 4.40% |
VTSPX Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares | 3.59% | 3.81% | 2.70% | 2.86% | 6.84% | 4.69% | 1.21% | 1.96% | 2.47% | 1.52% | 0.80% | 0.00% |
Frequently Asked Questions
VTSPX and FSAHX have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSAHX has higher volatility (0.82%) compared to VTSPX (0.57%). In terms of maximum drawdown, VTSPX dropped -5.35% vs FSAHX's -16.77%.
FSAHX currently has the higher Sharpe Ratio (3.10 vs 3.06), 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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