FGOVX vs. FGRTX
FGOVX (Fidelity Government Income Fund) and FGRTX (Fidelity Mega Cap Stock Fund) are both mutual funds - FGOVX is a Government Bonds fund managed by Fidelity, while FGRTX is a Large Cap Blend Equities fund actively managed by Fidelity. Over the past 10 years, FGOVX returned 0.58%/yr vs 16.16%/yr for FGRTX. Their -0.21 correlation means they have often moved in opposite directions in the past. FGOVX charges 0.45%/yr vs 0.58%/yr for FGRTX.
Performance
FGOVX vs. FGRTX - Performance Comparison
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Returns By Period
In the year-to-date period, FGOVX achieves a -0.58% return, which is significantly lower than FGRTX's 10.69% return. Over the past 10 years, FGOVX has underperformed FGRTX with an annualized return of 0.58%, while FGRTX has yielded a comparatively higher 16.16% annualized return.
FGOVX
- 1D
- 0.00%
- 1M
- -1.09%
- 6M
- -0.63%
- YTD
- -0.58%
- 1Y
- 1.55%
- 3Y*
- 2.92%
- 5Y*
- -1.03%
- 10Y*
- 0.58%
- ALL TIME*
- 3.51%
FGRTX
- 1D
- 2.13%
- 1M
- 0.17%
- 6M
- 7.39%
- YTD
- 10.69%
- 1Y
- 23.49%
- 3Y*
- 22.81%
- 5Y*
- 16.40%
- 10Y*
- 16.16%
- ALL TIME*
- 8.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FGOVX vs. FGRTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FGOVX Fidelity Government Income Fund | -0.58% | 6.57% | 0.09% | 4.23% | -13.09% | -2.25% | 6.79% | 6.41% | 0.63% | 2.22% |
FGRTX Fidelity Mega Cap Stock Fund | 10.69% | 26.92% | 25.98% | 26.51% | -8.98% | 26.29% | 12.96% | 31.07% | -7.44% | 16.98% |
Correlation
The correlation between FGOVX and FGRTX is 0.21, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.21 |
Correlation (3Y) Balances recent behavior with more history. | 0.11 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.05 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.13 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 1998 | -0.21 |
The correlation between FGOVX and FGRTX shifts across timeframes, from -0.21 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FGOVX vs. FGRTX — Risk / Return Rank
FGOVX
FGRTX
FGOVX vs. FGRTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Government Income Fund (FGOVX) and Fidelity Mega Cap Stock Fund (FGRTX). 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.
| FGOVX | FGRTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.29 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 2.36 | -1.46 |
| Martin ratioReturn relative to average drawdown | 2.22 | 10.21 | -7.99 |
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Drawdowns
FGOVX vs. FGRTX - Drawdown Comparison
The maximum FGOVX drawdown since its inception was -19.93%, smaller than the maximum FGRTX drawdown of -56.17%. Use the drawdown chart below to compare losses from any high point for FGOVX and FGRTX.
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Drawdown Indicators
| FGOVX | FGRTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.93% | -56.17% | +36.24% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -8.99% | +5.93% |
Max Drawdown (3Y)Largest decline over 3 years | -5.19% | -18.51% | +13.32% |
Max Drawdown (5Y)Largest decline over 5 years | -18.00% | -23.35% | +5.35% |
Max Drawdown (10Y)Largest decline over 10 years | -19.93% | -35.18% | +15.25% |
Current DrawdownCurrent decline from peak | -7.54% | -1.42% | -6.12% |
Average DrawdownAverage peak-to-trough decline | -3.94% | -8.68% | +4.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 2.08% | -0.85% |
Volatility
FGOVX vs. FGRTX - Volatility Comparison
The current volatility for Fidelity Government Income Fund (FGOVX) is 0.95%, while Fidelity Mega Cap Stock Fund (FGRTX) has a volatility of 3.62%. This indicates that FGOVX experiences smaller price fluctuations and is considered to be less risky than FGRTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FGOVX | FGRTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 3.62% | -2.67% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 9.96% | -7.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.72% | 12.85% | -9.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.09% | 16.72% | -10.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.04% | 18.08% | -13.04% |
FGOVX vs. FGRTX - Expense Ratio Comparison
FGOVX has a 0.45% expense ratio, which is lower than FGRTX's 0.58% expense ratio.
Dividends
FGOVX vs. FGRTX - Dividend Comparison
FGOVX's dividend yield for the trailing twelve months is around 3.24%, less than FGRTX's 3.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FGOVX Fidelity Government Income Fund | 3.24% | 3.37% | 3.20% | 2.57% | 1.13% | 0.60% | 2.39% | 2.10% | 2.08% | 1.81% | 2.69% | 2.25% |
FGRTX Fidelity Mega Cap Stock Fund | 3.51% | 3.89% | 2.68% | 2.06% | 4.38% | 4.79% | 7.96% | 12.98% | 21.72% | 15.57% | 1.97% | 4.16% |
Frequently Asked Questions
FGOVX and FGRTX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FGRTX has higher volatility (3.62%) compared to FGOVX (0.95%). In terms of maximum drawdown, FGOVX dropped -19.93% vs FGRTX's -56.17%.
FGRTX currently has the higher Sharpe Ratio (1.65 vs 0.74), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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