FGBAX vs. TLT
Compare and contrast key facts about Fidelity Advisor Investment Grade Bond Fund Class A (FGBAX) and iShares 20+ Year Treasury Bond ETF (TLT).
FGBAX is managed by Fidelity. It was launched on Aug 27, 2002. TLT is a passively managed fund by iShares that tracks the performance of the ICE U.S. Treasury 20+ Year Bond Index. It was launched on Jul 22, 2002.
Performance
FGBAX vs. TLT - Performance Comparison
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FGBAX vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FGBAX Fidelity Advisor Investment Grade Bond Fund Class A | -0.41% | 6.90% | 0.67% | 5.86% | -14.15% | -1.38% | 9.59% | 9.33% | -0.54% | 3.46% |
TLT iShares 20+ Year Treasury Bond ETF | 0.17% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Returns By Period
In the year-to-date period, FGBAX achieves a -0.41% return, which is significantly lower than TLT's 0.17% return. Over the past 10 years, FGBAX has outperformed TLT with an annualized return of 1.90%, while TLT has yielded a comparatively lower -1.38% annualized return.
FGBAX
- 1D
- 0.56%
- 1M
- -2.30%
- YTD
- -0.41%
- 6M
- 0.37%
- 1Y
- 3.63%
- 3Y*
- 3.21%
- 5Y*
- -0.09%
- 10Y*
- 1.90%
TLT
- 1D
- -0.10%
- 1M
- -4.23%
- YTD
- 0.17%
- 6M
- -0.87%
- 1Y
- -0.49%
- 3Y*
- -2.78%
- 5Y*
- -5.85%
- 10Y*
- -1.38%
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FGBAX vs. TLT - Expense Ratio Comparison
FGBAX has a 0.75% expense ratio, which is higher than TLT's 0.15% expense ratio.
Return for Risk
FGBAX vs. TLT — Risk / Return Rank
FGBAX
TLT
FGBAX vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Investment Grade Bond Fund Class A (FGBAX) and iShares 20+ Year Treasury Bond ETF (TLT). 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.
| FGBAX | TLT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.95 | -0.04 | +0.99 |
Sortino ratioReturn per unit of downside risk | 1.37 | 0.02 | +1.36 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.00 | +0.17 |
Calmar ratioReturn relative to maximum drawdown | 1.65 | 0.05 | +1.59 |
Martin ratioReturn relative to average drawdown | 4.75 | 0.11 | +4.63 |
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
| FGBAX | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | -0.04 | +0.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.02 | -0.37 | +0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | -0.09 | +0.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.26 | +0.23 |
Correlation
The correlation between FGBAX and TLT is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FGBAX vs. TLT - Dividend Comparison
FGBAX's dividend yield for the trailing twelve months is around 3.31%, less than TLT's 4.49% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FGBAX Fidelity Advisor Investment Grade Bond Fund Class A | 3.31% | 3.58% | 3.07% | 2.97% | 1.73% | 1.09% | 4.51% | 2.44% | 2.54% | 1.87% | 2.37% | 2.36% |
TLT iShares 20+ Year Treasury Bond ETF | 4.49% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Drawdowns
FGBAX vs. TLT - Drawdown Comparison
The maximum FGBAX drawdown since its inception was -18.94%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for FGBAX and TLT.
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Drawdown Indicators
| FGBAX | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.94% | -48.35% | +29.41% |
Max Drawdown (1Y)Largest decline over 1 year | -2.84% | -9.23% | +6.39% |
Max Drawdown (5Y)Largest decline over 5 years | -18.88% | -43.70% | +24.82% |
Max Drawdown (10Y)Largest decline over 10 years | -18.94% | -48.35% | +29.41% |
Current DrawdownCurrent decline from peak | -3.94% | -40.17% | +36.23% |
Average DrawdownAverage peak-to-trough decline | -4.86% | -13.62% | +8.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 4.38% | -3.40% |
Volatility
FGBAX vs. TLT - Volatility Comparison
The current volatility for Fidelity Advisor Investment Grade Bond Fund Class A (FGBAX) is 1.53%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 3.71%. This indicates that FGBAX experiences smaller price fluctuations and is considered to be less risky than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FGBAX | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 3.71% | -2.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.56% | 6.61% | -4.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.35% | 11.44% | -7.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.94% | 15.90% | -9.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 14.93% | -9.95% |