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VUSXX vs. FTBFX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VUSXX vs. FTBFX

Last updated Jun 16, 2026

VUSXX (Vanguard Treasury Money Market Fund) and FTBFX (Fidelity Total Bond Fund) are both mutual funds - VUSXX is a Money Market fund actively managed by Vanguard, while FTBFX is a Intermediate Core-Plus Bond fund actively managed by Fidelity. Both are actively managed. Over the past 5 years, VUSXX returned 1.56%/yr vs 0.58%/yr for FTBFX. At a 0.15 correlation, their price movements are largely independent. VUSXX charges 0.07%/yr vs 0.45%/yr for FTBFX.

Performance

VUSXX vs. FTBFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Treasury Money Market Fund (VUSXX) and Fidelity Total Bond Fund (FTBFX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VUSXX achieves a 1.51% return, which is significantly higher than FTBFX's 0.46% return.

VUSXX

1D
0.00%
1M
0.31%
YTD
1.51%
6M
1.84%
1Y
3.98%
3Y*
2.61%
5Y*
1.56%
10Y*
—

FTBFX

1D
-0.10%
1M
1.10%
YTD
0.46%
6M
0.92%
1Y
5.19%
3Y*
4.91%
5Y*
0.58%
10Y*
2.45%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VUSXX vs. FTBFX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
VUSXX
Vanguard Treasury Money Market Fund		1.51%4.25%1.65%0.43%0.00%0.00%
FTBFX
Fidelity Total Bond Fund		0.46%7.50%2.13%7.25%-13.58%1.64%

Correlation

The correlation between VUSXX and FTBFX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.29

Correlation (3Y)
Calculated over the trailing 3-year period

0.20

Correlation (5Y)
Calculated over the trailing 5-year period

0.15

Correlation (All Time)
Calculated using the full available price history since May 25, 2021

0.15

The correlation between VUSXX and FTBFX shifts across timeframes, from 0.15 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.

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Vanguard Treasury Money Market Fund

Fidelity Total Bond Fund

Often compared with VUSXX:
VUSXX vs. VMFXXVUSXX vs. SGOVVUSXX vs. VMRXXVUSXX vs. VBILVUSXX vs. VGSHVUSXX vs. USFRVUSXX vs. VOO
Often compared with FTBFX:
FTBFX vs. FXNAXFTBFX vs. FBNDFTBFX vs. BNDFTBFX vs. VBTLXFTBFX vs. FBNDXFTBFX vs. FIPDXFTBFX vs. FTHRX

Return for Risk

VUSXX vs. FTBFX — Risk / Return Rank

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

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FTBFX
FTBFX Risk / Return Rank: 2525
Overall Rank
FTBFX Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
FTBFX Sortino Ratio Rank: 2727
Sortino Ratio Rank
FTBFX Omega Ratio Rank: 2424
Omega Ratio Rank
FTBFX Calmar Ratio Rank: 2525
Calmar Ratio Rank
FTBFX Martin Ratio Rank: 2222
Martin Ratio Rank
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.

VUSXX vs. FTBFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Treasury Money Market Fund (VUSXX) and Fidelity Total Bond Fund (FTBFX). 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.

VUSXXFTBFXDifference
Sharpe ratioReturn per unit of total volatility
3.68
1.25

+2.42

Sortino ratioReturn per unit of downside risk

—

1.88

—

Omega ratioGain probability vs. loss probability

—

1.22

—

Calmar ratioReturn relative to maximum drawdown

—

1.65

—

Martin ratioReturn relative to average drawdown

—

4.84

—

VUSXX vs. FTBFX - Sharpe Ratio Comparison

The current VUSXX Sharpe Ratio is 3.68, which is higher than the FTBFX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of VUSXX and FTBFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VUSXX vs. FTBFX - Drawdown Comparison

The maximum VUSXX drawdown since its inception was 0.00%, smaller than the maximum FTBFX drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for VUSXX and FTBFX.

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Drawdown Indicators

VUSXXFTBFXDifference

Max Drawdown

Largest peak-to-trough decline

0.00%

-18.25%

+18.25%

Max Drawdown (1Y)

Largest decline over 1 year

0.00%

-2.89%

+2.89%

Max Drawdown (3Y)

Largest decline over 3 years

0.00%

-5.82%

+5.82%

Max Drawdown (5Y)

Largest decline over 5 years

0.00%

-18.25%

+18.25%

Max Drawdown (10Y)

Largest decline over 10 years

—

-18.25%

—

Current Drawdown

Current decline from peak

0.00%

-1.41%

+1.41%

Average Drawdown

Average peak-to-trough decline

0.00%

-2.32%

+2.32%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.00%

0.99%

-0.99%

Volatility

VUSXX vs. FTBFX - Volatility Comparison

The current volatility for Vanguard Treasury Money Market Fund (VUSXX) is 0.31%, while Fidelity Total Bond Fund (FTBFX) has a volatility of 1.44%. This indicates that VUSXX experiences smaller price fluctuations and is considered to be less risky than FTBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VUSXXFTBFXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.31%

1.44%

-1.13%

Volatility (6M)

Calculated over the trailing 6-month period

0.73%

2.84%

-2.11%

Volatility (1Y)

Calculated over the trailing 1-year period

1.12%

3.82%

-2.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.75%

5.67%

-4.92%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.74%

4.73%

-3.99%

VUSXX vs. FTBFX - Expense Ratio Comparison

VUSXX has a 0.07% expense ratio, which is lower than FTBFX's 0.45% expense ratio.

Dividends

VUSXX vs. FTBFX - Dividend Comparison

VUSXX's dividend yield for the trailing twelve months is around 3.89%, less than FTBFX's 4.36% yield.

PositionTTM20252024202320222021202020192018201720162015
FTBFX
Fidelity Total Bond Fund		4.36%4.36%4.15%4.15%2.54%1.89%5.22%3.03%3.19%2.97%3.61%3.30%
VUSXX
Vanguard Treasury Money Market Fund		3.89%4.15%1.63%0.43%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

VUSXX and FTBFX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FTBFX has higher volatility (1.44%) compared to VUSXX (0.31%). In terms of maximum drawdown, VUSXX dropped 0.00% vs FTBFX's -18.25%.

VUSXX currently has the higher Sharpe Ratio (3.68 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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