FNBGX vs. UTHY

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Long-Term Treasury Bond Index Fund (FNBGX) and US Treasury 30 Year Bond ETF (UTHY).

FNBGX is managed by Fidelity. It was launched on Dec 20, 2005. UTHY is a passively managed fund by US Benchmark Series that tracks the performance of the ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross. It was launched on Mar 27, 2023.

Performance

FNBGX vs. UTHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Long-Term Treasury Bond Index Fund (FNBGX) and US Treasury 30 Year Bond ETF (UTHY). The values are adjusted to include any dividend payments, if applicable.

FNBGX vs. UTHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FNBGX Fidelity Long-Term Treasury Bond Index Fund	-0.35%	5.30%	-6.18%	-1.66%
UTHY US Treasury 30 Year Bond ETF	0.02%	3.47%	-8.07%	-2.67%

Returns By Period

In the year-to-date period, FNBGX achieves a -0.35% return, which is significantly lower than UTHY's 0.02% return.

FNBGX

• 1D: 0.00%
• 1M: -3.36%
• YTD: -0.35%
• 6M: -0.98%
• 1Y: -0.60%
• 3Y*: -1.65%
• 5Y*: -5.04%
• 10Y*: —

UTHY

• 1D: -0.22%
• 1M: -3.06%
• YTD: 0.02%
• 6M: -0.96%
• 1Y: -1.77%
• 3Y*: -3.13%
• 5Y*: —
• 10Y*: —

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

FNBGX vs. UTHY - Expense Ratio Comparison

FNBGX has a 0.03% expense ratio, which is lower than UTHY's 0.15% 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%.

UTHY

US Treasury 30 Year Bond ETF

FNBGX

Fidelity Long-Term Treasury Bond Index Fund

Return for Risk

FNBGX vs. UTHY — Risk / Return Rank

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

FNBGX

FNBGX Risk / Return Rank: 6
FNBGX Sharpe Ratio Rank: 5
FNBGX Sortino Ratio Rank: 4
FNBGX Omega Ratio Rank: 4
FNBGX Calmar Ratio Rank: 8
FNBGX Martin Ratio Rank: 7

UTHY

UTHY Risk / Return Rank: 9
UTHY Sharpe Ratio Rank: 9
UTHY Sortino Ratio Rank: 8
UTHY Omega Ratio Rank: 8
UTHY Calmar Ratio Rank: 10
UTHY Martin Ratio Rank: 10

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. UTHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Long-Term Treasury Bond Index Fund (FNBGX) and US Treasury 30 Year Bond ETF (UTHY). 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	UTHY	Difference
Sharpe ratio Return per unit of total volatility	0.01	-0.16	+0.17
Sortino ratio Return per unit of downside risk	0.09	-0.14	+0.23
Omega ratio Gain probability vs. loss probability	1.01	0.98	+0.03
Calmar ratio Return relative to maximum drawdown	0.14	-0.10	+0.24
Martin ratio Return relative to average drawdown	0.30	-0.20	+0.51
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. UTHY - Sharpe Ratio Comparison

The current FNBGX Sharpe Ratio is 0.01, which is higher than the UTHY Sharpe Ratio of -0.16. The chart below compares the historical Sharpe Ratios of FNBGX and UTHY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FNBGX	UTHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.01	-0.16	+0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.08	-0.18	+0.10

Correlation

The correlation between FNBGX and UTHY is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FNBGX vs. UTHY - Dividend Comparison

FNBGX's dividend yield for the trailing twelve months is around 3.60%, less than UTHY's 4.59% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNBGX Fidelity Long-Term Treasury Bond Index Fund	3.60%	3.88%	3.75%	3.20%	2.26%	2.47%	3.96%	2.63%	2.93%	0.70%
UTHY US Treasury 30 Year Bond ETF	4.59%	4.53%	4.58%	2.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FNBGX vs. UTHY - Drawdown Comparison

The maximum FNBGX drawdown since its inception was -46.86%, which is greater than UTHY's maximum drawdown of -21.86%. Use the drawdown chart below to compare losses from any high point for FNBGX and UTHY.

Drawdown Indicators

	FNBGX	UTHY	Difference
Max Drawdown Largest peak-to-trough decline	-46.86%	-21.86%	-25.00%
Max Drawdown (1Y) Largest decline over 1 year	-8.75%	-9.42%	+0.67%
Max Drawdown (5Y) Largest decline over 5 years	-41.54%	—	—
Current Drawdown Current decline from peak	-37.47%	-11.11%	-26.36%
Average Drawdown Average peak-to-trough decline	-21.32%	-10.67%	-10.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.98%	4.55%	-0.57%

Volatility

FNBGX vs. UTHY - Volatility Comparison

Fidelity Long-Term Treasury Bond Index Fund (FNBGX) and US Treasury 30 Year Bond ETF (UTHY) have volatilities of 3.50% and 3.50%, 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	UTHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	3.50%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	6.02%	6.30%	-0.28%
Volatility (1Y) Calculated over the trailing 1-year period	10.47%	11.10%	-0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.61%	13.91%	+0.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.30%	13.91%	+0.39%