FCNVX vs. BIL
Compare and contrast key facts about Fidelity Conservative Income Bond Institutional Class (FCNVX) and SPDR Barclays 1-3 Month T-Bill ETF (BIL).
FCNVX is managed by Fidelity. It was launched on Mar 3, 2011. BIL is a passively managed fund by State Street that tracks the performance of the Barclays Capital U.S. 1-3 Month Treasury Bill Index. It was launched on May 25, 2007.
Performance
FCNVX vs. BIL - Performance Comparison
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FCNVX vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCNVX Fidelity Conservative Income Bond Institutional Class | 0.52% | 4.51% | 5.43% | 5.86% | 0.85% | -0.06% | 1.10% | 3.00% | 1.82% | 1.42% |
BIL SPDR Barclays 1-3 Month T-Bill ETF | 0.88% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
Returns By Period
In the year-to-date period, FCNVX achieves a 0.52% return, which is significantly lower than BIL's 0.88% return. Over the past 10 years, FCNVX has outperformed BIL with an annualized return of 2.51%, while BIL has yielded a comparatively lower 2.13% annualized return.
FCNVX
- 1D
- 0.00%
- 1M
- -0.10%
- YTD
- 0.52%
- 6M
- 1.54%
- 1Y
- 3.88%
- 3Y*
- 5.02%
- 5Y*
- 3.41%
- 10Y*
- 2.51%
BIL
- 1D
- 0.03%
- 1M
- 0.30%
- YTD
- 0.88%
- 6M
- 1.84%
- 1Y
- 4.00%
- 3Y*
- 4.71%
- 5Y*
- 3.28%
- 10Y*
- 2.13%
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FCNVX vs. BIL - Expense Ratio Comparison
FCNVX has a 0.25% expense ratio, which is higher than BIL's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
FCNVX vs. BIL — Risk / Return Rank
FCNVX
BIL
FCNVX vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Conservative Income Bond Institutional Class (FCNVX) and SPDR Barclays 1-3 Month T-Bill ETF (BIL). 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.
| FCNVX | BIL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.18 | 19.52 | -16.34 |
Sortino ratioReturn per unit of downside risk | 14.52 | 254.20 | -239.68 |
Omega ratioGain probability vs. loss probability | 6.34 | 180.39 | -174.05 |
Calmar ratioReturn relative to maximum drawdown | 21.58 | 368.00 | -346.43 |
Martin ratioReturn relative to average drawdown | 84.59 | 4,131.71 | -4,047.13 |
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
| FCNVX | BIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.18 | 19.52 | -16.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.69 | 12.55 | -9.86 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 2.44 | 8.23 | -5.79 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.17 | 2.73 | -0.56 |
Correlation
The correlation between FCNVX and BIL is 0.01, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FCNVX vs. BIL - Dividend Comparison
FCNVX's dividend yield for the trailing twelve months is around 3.91%, less than BIL's 3.96% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCNVX Fidelity Conservative Income Bond Institutional Class | 3.91% | 4.41% | 5.17% | 4.97% | 1.24% | 0.24% | 0.99% | 2.45% | 2.21% | 1.30% | 1.01% | 0.48% |
BIL SPDR Barclays 1-3 Month T-Bill ETF | 3.96% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% | 0.00% |
Drawdowns
FCNVX vs. BIL - Drawdown Comparison
The maximum FCNVX drawdown since its inception was -2.19%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for FCNVX and BIL.
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Drawdown Indicators
| FCNVX | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.19% | -0.78% | -1.41% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -0.01% | -0.19% |
Max Drawdown (5Y)Largest decline over 5 years | -0.59% | -0.12% | -0.47% |
Max Drawdown (10Y)Largest decline over 10 years | -2.19% | -0.21% | -1.98% |
Current DrawdownCurrent decline from peak | -0.10% | 0.00% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -0.05% | -0.26% | +0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 0.00% | +0.05% |
Volatility
FCNVX vs. BIL - Volatility Comparison
Fidelity Conservative Income Bond Institutional Class (FCNVX) has a higher volatility of 0.10% compared to SPDR Barclays 1-3 Month T-Bill ETF (BIL) at 0.06%. This indicates that FCNVX's price experiences larger fluctuations and is considered to be riskier than BIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCNVX | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.10% | 0.06% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 0.81% | 0.14% | +0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.28% | 0.21% | +1.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.27% | 0.26% | +1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.03% | 0.26% | +0.77% |