FNBGX vs. SCHD

Last updated Jun 5, 2026

FNBGX (Fidelity Long-Term Treasury Bond Index Fund) and SCHD (Schwab U.S. Dividend Equity ETF) are both funds - FNBGX is a Government Bonds fund managed by Fidelity, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Over the past 5 years, FNBGX returned -5.43%/yr vs 8.50%/yr for SCHD. At a correlation of -0.12, they often move in opposite directions. FNBGX charges 0.03%/yr vs 0.06%/yr for SCHD.

Performance

FNBGX vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Long-Term Treasury Bond Index Fund (FNBGX) and Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNBGX achieves a -0.41% return, which is significantly lower than SCHD's 19.82% return.

FNBGX

• 1D: -0.44%
• 1M: 0.24%
• YTD: -0.41%
• 6M: -1.25%
• 1Y: 3.67%
• 3Y*: -0.69%
• 5Y*: -5.43%
• 10Y*: —

SCHD

• 1D: 0.68%
• 1M: 2.84%
• YTD: 19.82%
• 6M: 19.65%
• 1Y: 28.76%
• 3Y*: 15.59%
• 5Y*: 8.50%
• 10Y*: 12.79%

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

FNBGX vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNBGX Fidelity Long-Term Treasury Bond Index Fund	-0.41%	5.30%	-6.18%	3.20%	-29.89%	-5.17%	17.58%	14.24%	-1.62%	1.86%
SCHD Schwab U.S. Dividend Equity ETF	19.82%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	6.66%

Correlation

The correlation between FNBGX and SCHD is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.05
Correlation (All Time) Calculated using the full available price history since Oct 20, 2017	-0.12

The correlation between FNBGX and SCHD shifts across timeframes, from -0.12 (all time) to 0.17 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

FNBGX vs. SCHD — Risk / Return Rank

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

FNBGX

FNBGX Risk / Return Rank: 7
FNBGX Sharpe Ratio Rank: 7
FNBGX Sortino Ratio Rank: 7
FNBGX Omega Ratio Rank: 7
FNBGX Calmar Ratio Rank: 8
FNBGX Martin Ratio Rank: 7

SCHD

SCHD Risk / Return Rank: 85
SCHD Sharpe Ratio Rank: 82
SCHD Sortino Ratio Rank: 89
SCHD Omega Ratio Rank: 80
SCHD Calmar Ratio Rank: 92
SCHD Martin Ratio Rank: 80

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.

FNBGX vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Long-Term Treasury Bond Index Fund (FNBGX) and Schwab U.S. Dividend Equity ETF (SCHD). 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.

	FNBGX	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	0.59	2.64	-2.05
Sortino ratio: Return per unit of downside risk	0.90	4.08	-3.18
Omega ratio: Gain probability vs. loss probability	1.10	1.47	-0.37
Calmar ratio: Return relative to maximum drawdown	0.73	6.26	-5.53
Martin ratio: Return relative to average drawdown	1.92	15.38	-13.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNBGX vs. SCHD - Sharpe Ratio Comparison

The current FNBGX Sharpe Ratio is 0.59, which is lower than the SCHD Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of FNBGX and SCHD, 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

	FNBGX	SCHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.59	2.64	-2.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.37	0.59	-0.97
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.08	0.86	-0.94

Drawdowns

FNBGX vs. SCHD - Drawdown Comparison

The maximum FNBGX drawdown since its inception was -46.86%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for FNBGX and SCHD.

Drawdown Indicators

	FNBGX	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-46.86%	-33.37%	-13.49%
Max Drawdown (1Y) Largest decline over 1 year	-7.28%	-4.61%	-2.67%
Max Drawdown (3Y) Largest decline over 3 years	-17.66%	-16.13%	-1.53%
Max Drawdown (5Y) Largest decline over 5 years	-41.54%	-16.85%	-24.69%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.37%	—
Current Drawdown Current decline from peak	-37.51%	-0.73%	-36.78%
Average Drawdown Average peak-to-trough decline	-21.65%	-3.32%	-18.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	1.87%	+0.89%

Volatility

FNBGX vs. SCHD - Volatility Comparison

Fidelity Long-Term Treasury Bond Index Fund (FNBGX) and Schwab U.S. Dividend Equity ETF (SCHD) have volatilities of 2.71% and 2.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNBGX	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.71%	2.69%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	6.04%	7.65%	-1.61%
Volatility (1Y) Calculated over the trailing 1-year period	8.99%	10.95%	-1.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.59%	14.38%	+0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.20%	16.71%	-2.51%

FNBGX vs. SCHD - Expense Ratio Comparison

FNBGX has a 0.03% expense ratio, which is lower than SCHD's 0.06% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FNBGX vs. SCHD - Dividend Comparison

FNBGX's dividend yield for the trailing twelve months is around 4.01%, more than SCHD's 3.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNBGX Fidelity Long-Term Treasury Bond Index Fund	4.01%	3.88%	3.75%	3.20%	2.26%	2.47%	3.96%	2.63%	2.93%	0.70%	0.00%	0.00%
SCHD Schwab U.S. Dividend Equity ETF	3.24%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%

Frequently Asked Questions

Can I hold both FNBGX and SCHD in my portfolio?

FNBGX and SCHD have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNBGX or SCHD?

FNBGX has higher volatility (2.71%) compared to SCHD (2.69%). In terms of maximum drawdown, FNBGX dropped -46.86% vs SCHD's -33.37%.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.64 vs 0.59), 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.