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Fidelity Long-Term Treasury Bond Index Fund (FNBGX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 5, 2026

The fund normally invests at least 80% of assets in securities included in the Bloomberg Barclays U.S. Long Treasury Bond Index. It normally maintains a dollar-weighted average maturity that generally is expected to be 10 years or more, consistent with that of the index. The advisor uses statistical sampling techniques based on duration, maturity, interest rate sensitivity, security structure, and credit quality to attempt to replicate the returns of the Bloomberg Barclays U.S. Long Treasury Bond Index using a smaller number of securities.

Looking to diversify beyond FNBGX? The mutual funds below have the lowest correlation with FNBGX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from FNBGX.

Best Diversifiers for FNBGX

15 mutual funds have low correlation with FNBGX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.06, roughly unchanged from 0.02 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
FSELX
Fidelity Select Semiconductors Portfolio0.060.050.02
97
Semiconductors, Technology EquitiesFNBGX vs FSELX
FBGRX
Fidelity Blue Chip Growth Fund0.120.100.04
71
Large Cap Growth EquitiesFNBGX vs FBGRX
GUSTX
GMO U.S. Treasury Fund0.140.030.03
99
Government BondsFNBGX vs GUSTX
DHAMX
Centre American Select Equity Fund0.160.170.02
90
Large Cap Blend EquitiesFNBGX vs DHAMX
DFFGX
DFA Short-Term Government Portfolio0.180.070.31
63
Government BondsFNBGX vs DFFGX
See all 34 diversifiers for FNBGX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from FNBGX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FNBGX and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.06, roughly unchanged from 0.01 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
NVDA
NVIDIA Corporation-0.060.000.01
80
Technology
KMI
Kinder Morgan, Inc.-0.020.100.01
66
Energy
TSLA
Tesla, Inc.0.030.080.02
58
Consumer Cyclical
CRWD
CrowdStrike Holdings, Inc.0.070.030.04
72
Technology
CRUS
Cirrus Logic, Inc.0.080.040.02
88
Technology
See all 13 low-correlation stocks for FNBGX

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Diversification Analysis

Build a portfolio that complements FNBGX

Add FNBGX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.

Analyze a portfolio with FNBGX