FMSDX vs. GOVT
Compare and contrast key facts about Fidelity Multi-Asset Income Fund (FMSDX) and iShares U.S. Treasury Bond ETF (GOVT).
FMSDX is managed by Fidelity. It was launched on Sep 9, 2015. GOVT is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. Treasury Bond Index. It was launched on Feb 14, 2012.
Performance
FMSDX vs. GOVT - Performance Comparison
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FMSDX vs. GOVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FMSDX Fidelity Multi-Asset Income Fund | 1.82% | 14.10% | 9.95% | 11.75% | -13.67% | 17.27% | 14.56% | 23.14% | -0.91% |
GOVT iShares U.S. Treasury Bond ETF | 0.02% | 3.77% | 2.95% | 4.17% | -13.39% | -1.11% | 7.28% | 7.36% | 2.31% |
Returns By Period
In the year-to-date period, FMSDX achieves a 1.82% return, which is significantly higher than GOVT's 0.02% return.
FMSDX
- 1D
- 1.49%
- 1M
- -5.08%
- YTD
- 1.82%
- 6M
- 1.32%
- 1Y
- 17.87%
- 3Y*
- 10.34%
- 5Y*
- 6.05%
- 10Y*
- —
GOVT
- 1D
- -0.05%
- 1M
- -1.30%
- YTD
- 0.02%
- 6M
- 0.58%
- 1Y
- 2.93%
- 3Y*
- 2.53%
- 5Y*
- -0.25%
- 10Y*
- 0.95%
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FMSDX vs. GOVT - Expense Ratio Comparison
FMSDX has a 0.78% expense ratio, which is higher than GOVT's 0.15% expense ratio.
Return for Risk
FMSDX vs. GOVT — Risk / Return Rank
FMSDX
GOVT
FMSDX vs. GOVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Multi-Asset Income Fund (FMSDX) and iShares U.S. Treasury Bond ETF (GOVT). 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.
| FMSDX | GOVT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.56 | 0.73 | +0.84 |
Sortino ratioReturn per unit of downside risk | 2.13 | 1.06 | +1.07 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.12 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 2.38 | 1.23 | +1.15 |
Martin ratioReturn relative to average drawdown | 8.94 | 3.16 | +5.77 |
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
| FMSDX | GOVT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 0.73 | +0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | -0.04 | +0.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.18 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.26 | +0.59 |
Correlation
The correlation between FMSDX and GOVT is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FMSDX vs. GOVT - Dividend Comparison
FMSDX's dividend yield for the trailing twelve months is around 3.48%, less than GOVT's 3.52% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMSDX Fidelity Multi-Asset Income Fund | 3.48% | 3.81% | 3.84% | 4.23% | 3.74% | 2.81% | 1.79% | 2.82% | 4.36% | 0.00% | 0.00% | 0.00% |
GOVT iShares U.S. Treasury Bond ETF | 3.52% | 3.49% | 3.14% | 2.65% | 1.77% | 0.96% | 2.17% | 1.98% | 1.97% | 1.57% | 1.40% | 1.25% |
Drawdowns
FMSDX vs. GOVT - Drawdown Comparison
The maximum FMSDX drawdown since its inception was -21.64%, which is greater than GOVT's maximum drawdown of -19.07%. Use the drawdown chart below to compare losses from any high point for FMSDX and GOVT.
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Drawdown Indicators
| FMSDX | GOVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.64% | -19.07% | -2.57% |
Max Drawdown (1Y)Largest decline over 1 year | -7.94% | -2.58% | -5.36% |
Max Drawdown (5Y)Largest decline over 5 years | -18.12% | -16.60% | -1.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.07% | — |
Current DrawdownCurrent decline from peak | -5.08% | -7.05% | +1.97% |
Average DrawdownAverage peak-to-trough decline | -3.87% | -5.23% | +1.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 1.01% | +1.11% |
Volatility
FMSDX vs. GOVT - Volatility Comparison
Fidelity Multi-Asset Income Fund (FMSDX) has a higher volatility of 4.29% compared to iShares U.S. Treasury Bond ETF (GOVT) at 1.45%. This indicates that FMSDX's price experiences larger fluctuations and is considered to be riskier than GOVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMSDX | GOVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.29% | 1.45% | +2.84% |
Volatility (6M)Calculated over the trailing 6-month period | 8.11% | 2.45% | +5.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.93% | 4.06% | +7.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.77% | 6.03% | +3.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.62% | 5.22% | +5.40% |