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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FCNVX or BIL.
Key characteristics
| FCNVX | BIL | |
|---|---|---|
| YTD Return | 5.06% | 4.53% |
| 1Y Return | 5.84% | 5.28% |
| 3Y Return (Ann) | 3.84% | 3.63% |
| 5Y Return (Ann) | 2.60% | 2.26% |
| 10Y Return (Ann) | 2.03% | 1.55% |
| Sharpe Ratio | 3.66 | 20.36 |
| Sortino Ratio | 14.19 | 273.01 |
| Omega Ratio | 4.47 | 158.62 |
| Calmar Ratio | 58.28 | 482.85 |
| Martin Ratio | 127.56 | 4,446.78 |
| Ulcer Index | 0.05% | 0.00% |
| Daily Std Dev | 1.59% | 0.26% |
| Max Drawdown | -2.19% | -0.77% |
| Current Drawdown | 0.00% | -0.01% |
Correlation
The correlation between FCNVX and BIL is 0.03, 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.
Performance
FCNVX vs. BIL - Performance Comparison
In the year-to-date period, FCNVX achieves a 5.06% return, which is significantly higher than BIL's 4.53% return. Over the past 10 years, FCNVX has outperformed BIL with an annualized return of 2.03%, while BIL has yielded a comparatively lower 1.55% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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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%.
Risk-Adjusted Performance
FCNVX vs. BIL - Risk-Adjusted Performance 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.
Dividends
FCNVX vs. BIL - Dividend Comparison
FCNVX's dividend yield for the trailing twelve months is around 5.26%, more than BIL's 5.15% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCNVX Fidelity Conservative Income Bond Institutional Class | 5.26% | 4.97% | 1.65% | 0.29% | 1.01% | 2.46% | 2.20% | 1.30% | 0.93% | 0.54% | 0.39% | 0.62% |
BIL SPDR Barclays 1-3 Month T-Bill ETF | 5.15% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% | 0.00% | 0.00% | 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 -0.77%. Use the drawdown chart below to compare losses from any high point for FCNVX and BIL. For additional features, visit the drawdowns tool.
Volatility
FCNVX vs. BIL - Volatility Comparison
Fidelity Conservative Income Bond Institutional Class (FCNVX) has a higher volatility of 0.42% compared to SPDR Barclays 1-3 Month T-Bill ETF (BIL) at 0.08%. 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.