FGOVX vs. FSTGX
FGOVX (Fidelity Government Income Fund) and FSTGX (Fidelity Intermediate Government Income Fund) are both Government Bonds funds from Fidelity. Over the past 10 years, FGOVX returned 0.77%/yr vs 1.01%/yr for FSTGX. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.45% expense ratio.
Performance
FGOVX vs. FSTGX - Performance Comparison
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Returns By Period
In the year-to-date period, FGOVX achieves a 0.33% return, which is significantly higher than FSTGX's -0.05% return. Over the past 10 years, FGOVX has underperformed FSTGX with an annualized return of 0.77%, while FSTGX has yielded a comparatively higher 1.01% annualized return.
FGOVX
- 1D
- 0.22%
- 1M
- 0.86%
- YTD
- 0.33%
- 6M
- 0.71%
- 1Y
- 4.20%
- 3Y*
- 3.08%
- 5Y*
- -0.65%
- 10Y*
- 0.77%
FSTGX
- 1D
- 0.20%
- 1M
- 0.37%
- YTD
- -0.05%
- 6M
- 0.20%
- 1Y
- 2.96%
- 3Y*
- 3.58%
- 5Y*
- 0.37%
- 10Y*
- 1.01%
FGOVX vs. FSTGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FGOVX Fidelity Government Income Fund | 0.33% | 6.57% | 0.09% | 4.23% | -13.09% | -2.25% | 6.79% | 6.41% | 0.63% | 2.22% |
FSTGX Fidelity Intermediate Government Income Fund | -0.05% | 6.00% | 2.24% | 3.88% | -8.76% | -2.28% | 5.46% | 4.84% | 1.20% | 0.98% |
Correlation
The correlation between FGOVX and FSTGX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 1988 | 0.89 |
The correlation between FGOVX and FSTGX has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.
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Return for Risk
FGOVX vs. FSTGX — Risk / Return Rank
FGOVX
FSTGX
FGOVX vs. FSTGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Government Income Fund (FGOVX) and Fidelity Intermediate Government Income Fund (FSTGX). 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 | FSTGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.22 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.38 | 1.63 | -0.25 |
| Martin ratioReturn relative to average drawdown | 3.91 | 4.46 | -0.55 |
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Drawdowns
FGOVX vs. FSTGX - Drawdown Comparison
The maximum FGOVX drawdown since its inception was -19.93%, which is greater than FSTGX's maximum drawdown of -13.66%. Use the drawdown chart below to compare losses from any high point for FGOVX and FSTGX.
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Drawdown Indicators
| FGOVX | FSTGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.93% | -13.66% | -6.27% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -1.89% | -1.17% |
Max Drawdown (3Y)Largest decline over 3 years | -6.33% | -2.97% | -3.36% |
Max Drawdown (5Y)Largest decline over 5 years | -18.00% | -12.54% | -5.46% |
Max Drawdown (10Y)Largest decline over 10 years | -19.93% | -13.66% | -6.27% |
Current DrawdownCurrent decline from peak | -6.69% | -1.23% | -5.46% |
Average DrawdownAverage peak-to-trough decline | -3.93% | -1.57% | -2.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 0.69% | +0.39% |
Volatility
FGOVX vs. FSTGX - Volatility Comparison
Fidelity Government Income Fund (FGOVX) has a higher volatility of 1.14% compared to Fidelity Intermediate Government Income Fund (FSTGX) at 0.87%. This indicates that FGOVX's price experiences larger fluctuations and is considered to be riskier than FSTGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FGOVX | FSTGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 0.87% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 1.88% | +0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.77% | 2.63% | +1.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.09% | 4.11% | +1.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.04% | 3.38% | +1.66% |
FGOVX vs. FSTGX - Expense Ratio Comparison
Both FGOVX and FSTGX have an expense ratio of 0.45%.
Dividends
FGOVX vs. FSTGX - Dividend Comparison
FGOVX's dividend yield for the trailing twelve months is around 3.48%, more than FSTGX's 3.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FGOVX Fidelity Government Income Fund | 3.48% | 3.37% | 3.20% | 2.57% | 1.13% | 0.60% | 2.39% | 2.10% | 2.08% | 1.81% | 2.69% | 2.25% |
FSTGX Fidelity Intermediate Government Income Fund | 3.15% | 3.04% | 2.94% | 2.12% | 0.99% | 0.77% | 2.65% | 1.85% | 1.84% | 1.47% | 1.52% | 1.69% |
Frequently Asked Questions
With a correlation of 0.91, FGOVX and FSTGX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FGOVX has higher volatility (1.14%) compared to FSTGX (0.87%). In terms of maximum drawdown, FGOVX dropped -19.93% vs FSTGX's -13.66%.
FSTGX currently has the higher Sharpe Ratio (1.17 vs 1.12), 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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