FIIVX vs. WFSPX
FIIVX (Fidelity Advisor Managed Retirement 2020 Fund Class I) and WFSPX (iShares S&P 500 Index Fund) are both mutual funds - FIIVX is a Target Retirement Date fund managed by BlackRock, while WFSPX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, FIIVX returned 6.40%/yr vs 15.54%/yr for WFSPX. Their correlation of 0.90 suggests significant overlap in exposure. FIIVX charges 0.47%/yr vs 0.03%/yr for WFSPX.
Performance
FIIVX vs. WFSPX - Performance Comparison
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Returns By Period
In the year-to-date period, FIIVX achieves a 5.64% return, which is significantly lower than WFSPX's 11.69% return. Over the past 10 years, FIIVX has underperformed WFSPX with an annualized return of 6.40%, while WFSPX has yielded a comparatively higher 15.54% annualized return.
FIIVX
- 1D
- 0.28%
- 1M
- 2.18%
- YTD
- 5.64%
- 6M
- 6.02%
- 1Y
- 13.83%
- 3Y*
- 9.78%
- 5Y*
- 3.97%
- 10Y*
- 6.40%
WFSPX
- 1D
- 0.13%
- 1M
- 5.80%
- YTD
- 11.69%
- 6M
- 11.72%
- 1Y
- 28.93%
- 3Y*
- 22.71%
- 5Y*
- 14.24%
- 10Y*
- 15.54%
FIIVX vs. WFSPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIIVX Fidelity Advisor Managed Retirement 2020 Fund Class I | 5.64% | 12.26% | 5.86% | 10.72% | -14.64% | 6.76% | 12.08% | 16.18% | -4.46% | 13.34% |
WFSPX iShares S&P 500 Index Fund | 11.69% | 17.83% | 24.94% | 26.25% | -18.14% | 28.63% | 18.43% | 31.45% | -4.83% | 21.27% |
Correlation
The correlation between FIIVX and WFSPX is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008 | 0.90 |
The correlation between FIIVX and WFSPX shifts across timeframes, from 0.77 (3 years) to 0.90 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FIIVX vs. WFSPX — Risk / Return Rank
FIIVX
WFSPX
FIIVX vs. WFSPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Managed Retirement 2020 Fund Class I (FIIVX) and iShares S&P 500 Index Fund (WFSPX). 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.
| FIIVX | WFSPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.46 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | 3.35 | -0.26 |
| Martin ratioReturn relative to average drawdown | 13.37 | 15.65 | -2.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FIIVX | WFSPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.51 | 2.52 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.85 | -0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | 0.87 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.13 | +0.38 |
Drawdowns
FIIVX vs. WFSPX - Drawdown Comparison
The maximum FIIVX drawdown since its inception was -40.59%, smaller than the maximum WFSPX drawdown of -58.21%. Use the drawdown chart below to compare losses from any high point for FIIVX and WFSPX.
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Drawdown Indicators
| FIIVX | WFSPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.59% | -58.21% | +17.62% |
Max Drawdown (1Y)Largest decline over 1 year | -4.52% | -8.90% | +4.38% |
Max Drawdown (3Y)Largest decline over 3 years | -6.52% | -18.74% | +12.22% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -24.51% | +4.40% |
Max Drawdown (10Y)Largest decline over 10 years | -20.11% | -33.74% | +13.63% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.98% | -12.77% | +7.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.90% | -0.86% |
Volatility
FIIVX vs. WFSPX - Volatility Comparison
The current volatility for Fidelity Advisor Managed Retirement 2020 Fund Class I (FIIVX) is 2.13%, while iShares S&P 500 Index Fund (WFSPX) has a volatility of 2.82%. This indicates that FIIVX experiences smaller price fluctuations and is considered to be less risky than WFSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIIVX | WFSPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.13% | 2.82% | -0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 8.97% | -4.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.58% | 11.85% | -6.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.27% | 16.88% | -9.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.42% | 18.02% | -10.60% |
FIIVX vs. WFSPX - Expense Ratio Comparison
FIIVX has a 0.47% expense ratio, which is higher than WFSPX's 0.03% expense ratio.
Dividends
FIIVX vs. WFSPX - Dividend Comparison
FIIVX's dividend yield for the trailing twelve months is around 2.72%, more than WFSPX's 1.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIIVX Fidelity Advisor Managed Retirement 2020 Fund Class I | 2.72% | 2.82% | 2.73% | 2.57% | 3.52% | 4.60% | 3.73% | 3.13% | 6.91% | 25.16% | 2.28% | 4.45% |
WFSPX iShares S&P 500 Index Fund | 1.56% | 1.72% | 1.41% | 1.50% | 2.02% | 1.82% | 1.66% | 1.99% | 2.00% | 1.62% | 2.37% | 2.49% |
Frequently Asked Questions
FIIVX and WFSPX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WFSPX has higher volatility (2.82%) compared to FIIVX (2.13%). In terms of maximum drawdown, FIIVX dropped -40.59% vs WFSPX's -58.21%.
WFSPX currently has the higher Sharpe Ratio (2.52 vs 2.51), 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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