FGRIX vs. FCNVX

Last updated Jun 4, 2026

FGRIX (Fidelity Growth & Income Portfolio) and FCNVX (Fidelity Conservative Income Bond Institutional Class) are both mutual funds - FGRIX is a Large Cap Value Equities fund managed by Fidelity, while FCNVX is a Total Bond Market fund managed by Fidelity. Over the past 10 years, FGRIX returned 14.33%/yr vs 2.58%/yr for FCNVX. At a correlation of -0.01, they often move in opposite directions. FGRIX charges 0.57%/yr vs 0.25%/yr for FCNVX.

Performance

FGRIX vs. FCNVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Growth & Income Portfolio (FGRIX) and Fidelity Conservative Income Bond Institutional Class (FCNVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FGRIX achieves a 7.63% return, which is significantly higher than FCNVX's 1.50% return. Over the past 10 years, FGRIX has outperformed FCNVX with an annualized return of 14.33%, while FCNVX has yielded a comparatively lower 2.58% annualized return.

FGRIX

• 1D: -0.01%
• 1M: 2.58%
• YTD: 7.63%
• 6M: 9.20%
• 1Y: 23.41%
• 3Y*: 20.80%
• 5Y*: 13.55%
• 10Y*: 14.33%

FCNVX

• 1D: 0.00%
• 1M: 0.33%
• YTD: 1.50%
• 6M: 1.85%
• 1Y: 4.24%
• 3Y*: 5.03%
• 5Y*: 3.58%
• 10Y*: 2.58%

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

FGRIX vs. FCNVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FGRIX Fidelity Growth & Income Portfolio	7.63%	21.59%	22.10%	18.63%	-4.98%	25.84%	7.98%	30.22%	-8.94%	16.88%
FCNVX Fidelity Conservative Income Bond Institutional Class	1.50%	4.51%	5.43%	5.86%	0.85%	-0.06%	1.10%	3.00%	1.82%	1.42%

Correlation

The correlation between FGRIX and FCNVX is 0.05, 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	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.00
Correlation (10Y) Calculated over the trailing 10-year period	-0.00
Correlation (All Time) Calculated using the full available price history since May 27, 2011	-0.01

Return for Risk

FGRIX vs. FCNVX — Risk / Return Rank

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

FGRIX

FGRIX Risk / Return Rank: 58
FGRIX Sharpe Ratio Rank: 59
FGRIX Sortino Ratio Rank: 57
FGRIX Omega Ratio Rank: 56
FGRIX Calmar Ratio Rank: 56
FGRIX Martin Ratio Rank: 61

FCNVX

FCNVX Risk / Return Rank: 99
FCNVX Sharpe Ratio Rank: 97
FCNVX Sortino Ratio Rank: 100
FCNVX Omega Ratio Rank: 100
FCNVX Calmar Ratio Rank: 100
FCNVX Martin Ratio Rank: 100

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.

FGRIX vs. FCNVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Growth & Income Portfolio (FGRIX) and Fidelity Conservative Income Bond Institutional Class (FCNVX). 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.

	FGRIX	FCNVX	Difference
Sharpe ratio Return per unit of total volatility	2.27	3.60	-1.33
Sortino ratio Return per unit of downside risk	3.18	24.08	-20.90
Omega ratio Gain probability vs. loss probability	1.42	14.09	-12.68
Calmar ratio Return relative to maximum drawdown	2.89	42.87	-39.98
Martin ratio Return relative to average drawdown	12.11	146.17	-134.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FGRIX vs. FCNVX - Sharpe Ratio Comparison

The current FGRIX Sharpe Ratio is 2.27, which is lower than the FCNVX Sharpe Ratio of 3.60. The chart below compares the historical Sharpe Ratios of FGRIX and FCNVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FGRIX	FCNVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	3.60	-1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	2.79	-1.91
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	2.48	-1.66
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	2.20	-1.61

Drawdowns

FGRIX vs. FCNVX - Drawdown Comparison

The maximum FGRIX drawdown since its inception was -67.10%, which is greater than FCNVX's maximum drawdown of -2.19%. Use the drawdown chart below to compare losses from any high point for FGRIX and FCNVX.

Drawdown Indicators

	FGRIX	FCNVX	Difference
Max Drawdown Largest peak-to-trough decline	-67.10%	-2.19%	-64.91%
Max Drawdown (1Y) Largest decline over 1 year	-8.35%	-0.10%	-8.25%
Max Drawdown (3Y) Largest decline over 3 years	-16.42%	-0.30%	-16.12%
Max Drawdown (5Y) Largest decline over 5 years	-19.26%	-0.59%	-18.67%
Max Drawdown (10Y) Largest decline over 10 years	-35.63%	-2.19%	-33.44%
Current Drawdown Current decline from peak	-0.01%	0.00%	-0.01%
Average Drawdown Average peak-to-trough decline	-10.12%	-0.05%	-10.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	0.03%	+1.96%

Volatility

FGRIX vs. FCNVX - Volatility Comparison

Fidelity Growth & Income Portfolio (FGRIX) has a higher volatility of 2.36% compared to Fidelity Conservative Income Bond Institutional Class (FCNVX) at 0.33%. This indicates that FGRIX's price experiences larger fluctuations and is considered to be riskier than FCNVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGRIX	FCNVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.36%	0.33%	+2.03%
Volatility (6M) Calculated over the trailing 6-month period	7.97%	0.78%	+7.19%
Volatility (1Y) Calculated over the trailing 1-year period	10.64%	1.19%	+9.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.52%	1.29%	+14.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.45%	1.04%	+16.41%

FGRIX vs. FCNVX - Expense Ratio Comparison

FGRIX has a 0.57% expense ratio, which is higher than FCNVX's 0.25% expense ratio.

Dividends

FGRIX vs. FCNVX - Dividend Comparison

FGRIX's dividend yield for the trailing twelve months is around 9.10%, more than FCNVX's 4.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCNVX Fidelity Conservative Income Bond Institutional Class	4.15%	4.41%	5.17%	4.97%	1.24%	0.24%	0.99%	2.45%	2.21%	1.30%	1.01%	0.48%
FGRIX Fidelity Growth & Income Portfolio	9.10%	9.78%	6.80%	3.93%	3.43%	6.02%	3.61%	2.85%	3.39%	1.52%	1.80%	2.08%

Frequently Asked Questions

Can I hold both FGRIX and FCNVX in my portfolio?

FGRIX and FCNVX have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FGRIX or FCNVX?

FGRIX has higher volatility (2.36%) compared to FCNVX (0.33%). In terms of maximum drawdown, FGRIX dropped -67.10% vs FCNVX's -2.19%.

Which has better risk-adjusted returns?

FCNVX currently has the higher Sharpe Ratio (3.60 vs 2.27), 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.