FCNVX vs. CCRV

Last updated Jun 9, 2026

FCNVX (Fidelity Conservative Income Bond Institutional Class) and CCRV (iShares Commodity Curve Carry Strategy ETF) are both funds - FCNVX is a Total Bond Market fund managed by Fidelity, while CCRV is a Commodities fund tracking the CCRV-US - ICE BofA Commodity Enhanced Carry Index. At a correlation of -0.06, they often move in opposite directions. FCNVX charges 0.25%/yr vs 0.40%/yr for CCRV.

Performance

FCNVX vs. CCRV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Conservative Income Bond Institutional Class (FCNVX) and iShares Commodity Curve Carry Strategy ETF (CCRV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FCNVX

• 1D: 0.00%
• 1M: 0.33%
• YTD: 1.50%
• 6M: 1.85%
• 1Y: 4.24%
• 3Y*: 5.03%
• 5Y*: 3.58%
• 10Y*: 2.58%

CCRV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FCNVX vs. CCRV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FCNVX Fidelity Conservative Income Bond Institutional Class	1.50%	4.51%	5.43%	5.86%	0.85%	-0.06%	0.05%
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	-0.05%	5.74%	5.47%	19.91%	33.78%	7.37%

Correlation

The correlation between FCNVX and CCRV is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	-0.12
Correlation (5Y) Calculated over the trailing 5-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Sep 4, 2020	-0.06

The correlation between FCNVX and CCRV shifts across timeframes, from -0.12 (3 years) to -0.01 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FCNVX vs. CCRV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FCNVX

FCNVX Risk / Return Rank: 99
FCNVX Sharpe Ratio Rank: 97
FCNVX Sortino Ratio Rank: 100
FCNVX Omega Ratio Rank: 100
FCNVX Calmar Ratio Rank: 100
FCNVX Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FCNVX vs. CCRV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Conservative Income Bond Institutional Class (FCNVX) and iShares Commodity Curve Carry Strategy ETF (CCRV). 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	CCRV	Difference
Sharpe ratio: Return per unit of total volatility	3.52	—	—
Sortino ratio: Return per unit of downside risk	23.50	—	—
Omega ratio: Gain probability vs. loss probability	13.78	—	—
Calmar ratio: Return relative to maximum drawdown	41.82	—	—
Martin ratio: Return relative to average drawdown	153.67	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FCNVX	CCRV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.52	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.78	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	2.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.20	—	—

Drawdowns

Drawdown Indicators

	FCNVX	CCRV	Difference
Max Drawdown Largest peak-to-trough decline	-2.19%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-0.10%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-0.30%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-0.59%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-2.19%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-0.05%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	—	—

Volatility

Volatility by Period

	FCNVX	CCRV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.33%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.78%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.18%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.29%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.04%	—	—

FCNVX vs. CCRV - Expense Ratio Comparison

FCNVX has a 0.25% expense ratio, which is lower than CCRV's 0.40% expense ratio.

Dividends

FCNVX vs. CCRV - Dividend Comparison

FCNVX's dividend yield for the trailing twelve months is around 4.15%, while CCRV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	0.00%	4.43%	7.26%	33.27%	26.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FCNVX Fidelity Conservative Income Bond Institutional Class	4.15%	4.41%	5.17%	4.97%	1.24%	0.24%	0.99%	2.45%	2.21%	1.30%	1.01%	0.48%

Frequently Asked Questions

Can I hold both FCNVX and CCRV in my portfolio?

FCNVX and CCRV have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.