FAGIX vs. IEI
FAGIX (Fidelity Capital & Income Fund) and IEI (iShares 3-7 Year Treasury Bond ETF) are both funds - FAGIX is a High Yield Bonds fund actively managed by Fidelity, while IEI is a Government Bonds fund tracking the ICE U.S. Treasury 3-7 Year Bond Index. FAGIX is actively managed, while IEI is passively managed. Over the past 10 years, FAGIX returned 8.03%/yr vs 1.24%/yr for IEI. At a correlation of -0.14, they often move in opposite directions. FAGIX charges 0.67%/yr vs 0.15%/yr for IEI.
Performance
FAGIX vs. IEI - Performance Comparison
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Returns By Period
In the year-to-date period, FAGIX achieves a 7.40% return, which is significantly higher than IEI's -0.30% return. Over the past 10 years, FAGIX has outperformed IEI with an annualized return of 8.03%, while IEI has yielded a comparatively lower 1.24% annualized return.
FAGIX
- 1D
- 1.15%
- 1M
- 0.25%
- YTD
- 7.40%
- 6M
- 7.95%
- 1Y
- 16.73%
- 3Y*
- 12.87%
- 5Y*
- 6.75%
- 10Y*
- 8.03%
IEI
- 1D
- -0.12%
- 1M
- -0.00%
- YTD
- -0.30%
- 6M
- -0.00%
- 1Y
- 2.97%
- 3Y*
- 3.77%
- 5Y*
- 0.21%
- 10Y*
- 1.24%
FAGIX vs. IEI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FAGIX Fidelity Capital & Income Fund | 7.40% | 12.38% | 10.69% | 13.02% | -11.50% | 11.13% | 9.95% | 18.96% | -7.17% | 11.66% |
IEI iShares 3-7 Year Treasury Bond ETF | -0.30% | 6.96% | 1.81% | 4.42% | -9.51% | -2.54% | 6.95% | 5.71% | 1.36% | 1.22% |
Correlation
The correlation between FAGIX and IEI is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2007 | -0.14 |
The correlation between FAGIX and IEI shifts across timeframes, from -0.14 (all time) to 0.21 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FAGIX vs. IEI — Risk / Return Rank
FAGIX
IEI
FAGIX vs. IEI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Capital & Income Fund (FAGIX) and iShares 3-7 Year Treasury Bond ETF (IEI). 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.
| FAGIX | IEI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.64 | ||
| Sortino ratioReturn per unit of downside risk | +2.23 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.17 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 4.85 | 1.19 | +3.66 |
| Martin ratioReturn relative to average drawdown | 19.86 | 3.35 | +16.51 |
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Drawdowns
FAGIX vs. IEI - Drawdown Comparison
The maximum FAGIX drawdown since its inception was -37.97%, which is greater than IEI's maximum drawdown of -14.60%. Use the drawdown chart below to compare losses from any high point for FAGIX and IEI.
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Drawdown Indicators
| FAGIX | IEI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.97% | -14.60% | -23.37% |
Max Drawdown (1Y)Largest decline over 1 year | -3.49% | -2.50% | -0.99% |
Max Drawdown (3Y)Largest decline over 3 years | -7.26% | -3.66% | -3.60% |
Max Drawdown (5Y)Largest decline over 5 years | -15.42% | -13.88% | -1.54% |
Max Drawdown (10Y)Largest decline over 10 years | -28.45% | -14.60% | -13.85% |
Current DrawdownCurrent decline from peak | -1.04% | -1.74% | +0.70% |
Average DrawdownAverage peak-to-trough decline | -6.98% | -2.67% | -4.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 0.89% | -0.04% |
Volatility
FAGIX vs. IEI - Volatility Comparison
Fidelity Capital & Income Fund (FAGIX) has a higher volatility of 2.71% compared to iShares 3-7 Year Treasury Bond ETF (IEI) at 0.98%. This indicates that FAGIX's price experiences larger fluctuations and is considered to be riskier than IEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAGIX | IEI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.71% | 0.98% | +1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 5.30% | 2.18% | +3.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.42% | 3.00% | +3.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.66% | 4.78% | +1.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.84% | 3.93% | +3.91% |
FAGIX vs. IEI - Expense Ratio Comparison
FAGIX has a 0.67% expense ratio, which is higher than IEI's 0.15% expense ratio.
Dividends
FAGIX vs. IEI - Dividend Comparison
FAGIX's dividend yield for the trailing twelve months is around 4.47%, more than IEI's 3.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAGIX Fidelity Capital & Income Fund | 4.47% | 4.74% | 5.02% | 5.28% | 10.25% | 6.08% | 4.59% | 5.00% | 5.67% | 5.05% | 4.57% | 4.51% |
IEI iShares 3-7 Year Treasury Bond ETF | 3.64% | 3.48% | 3.18% | 2.36% | 1.37% | 0.73% | 1.12% | 2.01% | 1.95% | 1.51% | 1.33% | 1.39% |
Frequently Asked Questions
FAGIX and IEI have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAGIX has higher volatility (2.71%) compared to IEI (0.98%). In terms of maximum drawdown, FAGIX dropped -37.97% vs IEI's -14.60%.
FAGIX currently has the higher Sharpe Ratio (2.63 vs 1.00), 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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