FBLTX vs. IEF
FBLTX (Fidelity SAI Long-Term Treasury Bond Index Fund) and IEF (iShares 7-10 Year Treasury Bond ETF) are both Government Bonds funds. Over the past 10 years, FBLTX returned -2.52%/yr vs 0.40%/yr for IEF. Their correlation of 0.92 means they have usually moved in the same direction. FBLTX charges 0.03%/yr vs 0.15%/yr for IEF.
Performance
FBLTX vs. IEF - Performance Comparison
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Returns By Period
In the year-to-date period, FBLTX achieves a -3.37% return, which is significantly lower than IEF's -1.44% return. Over the past 10 years, FBLTX has underperformed IEF with an annualized return of -2.52%, while IEF has yielded a comparatively higher 0.40% annualized return.
FBLTX
- 1D
- -0.16%
- 1M
- -3.63%
- 6M
- -3.28%
- YTD
- -3.37%
- 1Y
- -2.17%
- 3Y*
- -2.29%
- 5Y*
- -8.31%
- 10Y*
- -2.52%
- ALL TIME*
- -1.05%
IEF
- 1D
- -0.28%
- 1M
- -1.24%
- 6M
- -1.22%
- YTD
- -1.44%
- 1Y
- 0.62%
- 3Y*
- 2.88%
- 5Y*
- -1.80%
- 10Y*
- 0.40%
- ALL TIME*
- 3.34%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $422.02M | $484.34M | $621.73M |
FBLTX vs. IEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FBLTX Fidelity SAI Long-Term Treasury Bond Index Fund | -3.37% | 4.39% | -8.05% | 2.71% | -31.84% | -4.89% | 18.27% | 14.36% | -1.24% | 9.06% |
IEF iShares 7-10 Year Treasury Bond ETF | -1.44% | 8.03% | -0.63% | 3.64% | -15.15% | -3.33% | 10.01% | 8.03% | 0.99% | 2.55% |
Correlation
The correlation between FBLTX and IEF is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2015 | 0.92 |
The correlation between FBLTX and IEF has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.
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Return for Risk
FBLTX vs. IEF — Risk / Return Rank
FBLTX
IEF
FBLTX vs. IEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Long-Term Treasury Bond Index Fund (FBLTX) and iShares 7-10 Year Treasury Bond ETF (IEF). 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.
| FBLTX | IEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.07 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 0.44 | -0.48 |
| Martin ratioReturn relative to average drawdown | -0.10 | 1.01 | -1.12 |
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Drawdowns
FBLTX vs. IEF - Drawdown Comparison
The maximum FBLTX drawdown since its inception was -49.06%, which is greater than IEF's maximum drawdown of -23.93%. Use the drawdown chart below to compare losses from any high point for FBLTX and IEF.
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Drawdown Indicators
| FBLTX | IEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.06% | -23.93% | -25.13% |
Max Drawdown (1Y)Largest decline over 1 year | -7.66% | -4.07% | -3.59% |
Max Drawdown (3Y)Largest decline over 3 years | -14.75% | -6.89% | -7.86% |
Max Drawdown (5Y)Largest decline over 5 years | -44.19% | -21.38% | -22.81% |
Max Drawdown (10Y)Largest decline over 10 years | -49.06% | -23.93% | -25.13% |
Current DrawdownCurrent decline from peak | -42.95% | -12.05% | -30.90% |
Average DrawdownAverage peak-to-trough decline | -21.28% | -5.38% | -15.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.54% | 1.75% | +1.79% |
Volatility
FBLTX vs. IEF - Volatility Comparison
Fidelity SAI Long-Term Treasury Bond Index Fund (FBLTX) has a higher volatility of 2.48% compared to iShares 7-10 Year Treasury Bond ETF (IEF) at 1.18%. This indicates that FBLTX's price experiences larger fluctuations and is considered to be riskier than IEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBLTX | IEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.48% | 1.18% | +1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 6.79% | 3.64% | +3.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.26% | 4.67% | +4.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.57% | 7.70% | +7.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.51% | 6.61% | +7.90% |
FBLTX vs. IEF - Expense Ratio Comparison
FBLTX has a 0.03% expense ratio, which is lower than IEF's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FBLTX vs. IEF - Dividend Comparison
FBLTX's dividend yield for the trailing twelve months is around 3.97%, which matches IEF's 3.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBLTX Fidelity SAI Long-Term Treasury Bond Index Fund | 3.97% | 4.04% | 3.60% | 3.29% | 2.25% | 1.81% | 6.73% | 2.39% | 2.87% | 2.68% | 3.70% | 0.39% |
IEF iShares 7-10 Year Treasury Bond ETF | 3.62% | 3.77% | 3.62% | 2.91% | 1.96% | 0.83% | 1.08% | 2.08% | 2.24% | 1.82% | 1.81% | 1.90% |
Frequently Asked Questions
FBLTX and IEF have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBLTX has higher volatility (2.48%) compared to IEF (1.18%). In terms of maximum drawdown, FBLTX dropped -49.06% vs IEF's -23.93%.
IEF currently has the higher Sharpe Ratio (0.38 vs -0.04), 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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