FGBYX vs. FXAIX

Last updated Jul 1, 2026

FGBYX (Fidelity Advisor Global Credit Fund Class C) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - FGBYX is a Global Bonds fund managed by Fidelity, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. At a 0.01 correlation, their price movements are largely independent. FGBYX charges 1.70%/yr vs 0.02%/yr for FXAIX.

Performance

FGBYX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Global Credit Fund Class C (FGBYX) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FGBYX

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

FXAIX

• 1D: 1.18%
• 1M: -1.74%
• YTD: 9.32%
• 6M: 8.53%
• 1Y: 21.33%
• 3Y*: 20.28%
• 5Y*: 13.21%
• 10Y*: 15.38%

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

FGBYX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FGBYX Fidelity Advisor Global Credit Fund Class C	0.00%	6.94%	7.36%	5.92%	-20.47%	-1.50%	7.23%	13.34%	-3.63%	7.71%
FXAIX Fidelity 500 Index Fund	9.32%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between FGBYX and FXAIX is 0.04, 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	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (10Y) Calculated over the trailing 10-year period	0.04
Correlation (All Time) Calculated using the full available price history since May 23, 2012	0.01

The correlation between FGBYX and FXAIX shifts across timeframes, from 0.01 (all time) to 0.16 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

FGBYX vs. FXAIX — Risk / Return Rank

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

FGBYX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FXAIX

FXAIX Risk / Return Rank: 60
FXAIX Sharpe Ratio Rank: 58
FXAIX Sortino Ratio Rank: 54
FXAIX Omega Ratio Rank: 55
FXAIX Calmar Ratio Rank: 61
FXAIX Martin Ratio Rank: 73

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.

FGBYX vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Global Credit Fund Class C (FGBYX) and Fidelity 500 Index Fund (FXAIX). 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.

	FGBYX	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.76	—
Sortino ratio: Return per unit of downside risk	—	2.42	—
Omega ratio: Gain probability vs. loss probability	—	1.32	—
Calmar ratio: Return relative to maximum drawdown	—	2.48	—
Martin ratio: Return relative to average drawdown	—	10.95	—

Drawdowns

Drawdown Indicators

	FGBYX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	—	-33.79%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.89%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.79%	—
Current Drawdown Current decline from peak	—	-2.13%	—
Average Drawdown Average peak-to-trough decline	—	-3.78%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.01%	—

Volatility

Volatility by Period

	FGBYX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.95%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.93%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	12.54%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.02%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	18.06%	—

FGBYX vs. FXAIX - Expense Ratio Comparison

FGBYX has a 1.70% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

FGBYX vs. FXAIX - Dividend Comparison

FGBYX's dividend yield for the trailing twelve months is around 1.39%, more than FXAIX's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGBYX Fidelity Advisor Global Credit Fund Class C	1.39%	2.35%	2.71%	2.71%	5.37%	1.53%	2.76%	2.71%	1.47%	1.00%	2.13%	1.66%
FXAIX Fidelity 500 Index Fund	1.05%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%

Frequently Asked Questions

Can I hold both FGBYX and FXAIX in my portfolio?

FGBYX and FXAIX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.