FGOVX vs. FVIIX
FGOVX (Fidelity Government Income Fund) and FVIIX (Fidelity Advisor Government Income Fund Class I) are both Government Bonds funds from Fidelity. Over the past 10 years, FGOVX returned 0.58%/yr vs 0.51%/yr for FVIIX. Their 0.96 correlation means they have historically moved very closely together. FGOVX charges 0.45%/yr vs 0.49%/yr for FVIIX.
Performance
FGOVX vs. FVIIX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FGOVX having a -0.58% return and FVIIX slightly lower at -0.60%. Over the past 10 years, FGOVX has outperformed FVIIX with an annualized return of 0.58%, while FVIIX has yielded a comparatively lower 0.51% 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%
FVIIX
- 1D
- 0.00%
- 1M
- -1.09%
- 6M
- -0.75%
- YTD
- -0.60%
- 1Y
- 1.51%
- 3Y*
- 2.80%
- 5Y*
- -1.13%
- 10Y*
- 0.51%
- ALL TIME*
- 2.24%
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. FVIIX - 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% |
FVIIX Fidelity Advisor Government Income Fund Class I | -0.60% | 6.52% | 0.07% | 3.80% | -13.09% | -2.26% | 6.85% | 6.27% | 0.67% | 2.06% |
Correlation
The correlation between FGOVX and FVIIX is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.97 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2005 | 0.96 |
The correlation between FGOVX and FVIIX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
FGOVX vs. FVIIX — Risk / Return Rank
FGOVX
FVIIX
FGOVX vs. FVIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Government Income Fund (FGOVX) and Fidelity Advisor Government Income Fund Class I (FVIIX). 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 | FVIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.13 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 0.92 | -0.02 |
| Martin ratioReturn relative to average drawdown | 2.22 | 2.22 | 0.00 |
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Drawdowns
FGOVX vs. FVIIX - Drawdown Comparison
The maximum FGOVX drawdown since its inception was -19.93%, roughly equal to the maximum FVIIX drawdown of -20.08%. Use the drawdown chart below to compare losses from any high point for FGOVX and FVIIX.
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Drawdown Indicators
| FGOVX | FVIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.93% | -20.08% | +0.15% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -2.95% | -0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -5.19% | -5.29% | +0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -18.00% | -18.13% | +0.13% |
Max Drawdown (10Y)Largest decline over 10 years | -19.93% | -20.08% | +0.15% |
Current DrawdownCurrent decline from peak | -7.54% | -8.03% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -3.94% | -3.78% | -0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 1.21% | +0.02% |
Volatility
FGOVX vs. FVIIX - Volatility Comparison
Fidelity Government Income Fund (FGOVX) has a higher volatility of 0.95% compared to Fidelity Advisor Government Income Fund Class I (FVIIX) at 0.84%. This indicates that FGOVX's price experiences larger fluctuations and is considered to be riskier than FVIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FGOVX | FVIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 0.84% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 2.74% | +0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.72% | 3.59% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.09% | 6.07% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.04% | 5.02% | +0.02% |
FGOVX vs. FVIIX - Expense Ratio Comparison
FGOVX has a 0.45% expense ratio, which is lower than FVIIX's 0.49% expense ratio.
Dividends
FGOVX vs. FVIIX - Dividend Comparison
FGOVX's dividend yield for the trailing twelve months is around 3.24%, which matches FVIIX's 3.21% 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% |
FVIIX Fidelity Advisor Government Income Fund Class I | 3.21% | 3.33% | 3.18% | 2.29% | 1.09% | 0.58% | 2.35% | 2.07% | 2.02% | 1.75% | 2.64% | 2.21% |
Frequently Asked Questions
With a correlation of 0.93, FGOVX and FVIIX 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 (0.95%) compared to FVIIX (0.84%). In terms of maximum drawdown, FGOVX dropped -19.93% vs FVIIX's -20.08%.
FVIIX currently has the higher Sharpe Ratio (0.76 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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