FNMIX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity New Markets Income Fund (FNMIX) and S&P 500 Index (^GSPC).

FNMIX is managed by Fidelity.

Performance

FNMIX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity New Markets Income Fund (FNMIX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

FNMIX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNMIX Fidelity New Markets Income Fund	-0.73%	14.86%	6.80%	14.00%	-16.09%	-2.42%	4.62%	10.93%	-7.77%	10.16%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, FNMIX achieves a -0.73% return, which is significantly higher than ^GSPC's -3.95% return. Over the past 10 years, FNMIX has underperformed ^GSPC with an annualized return of 3.93%, while ^GSPC has yielded a comparatively higher 12.24% annualized return.

FNMIX

• 1D: 0.30%
• 1M: -3.00%
• YTD: -0.73%
• 6M: 2.90%
• 1Y: 10.52%
• 3Y*: 11.00%
• 5Y*: 3.53%
• 10Y*: 3.93%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

FNMIX vs. ^GSPC — Risk / Return Rank

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

FNMIX

FNMIX Risk / Return Rank: 90
FNMIX Sharpe Ratio Rank: 93
FNMIX Sortino Ratio Rank: 93
FNMIX Omega Ratio Rank: 92
FNMIX Calmar Ratio Rank: 85
FNMIX Martin Ratio Rank: 87

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

FNMIX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity New Markets Income Fund (FNMIX) and S&P 500 Index (^GSPC). 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.

	FNMIX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	2.08	0.92	+1.17
Sortino ratio Return per unit of downside risk	2.89	1.41	+1.48
Omega ratio Gain probability vs. loss probability	1.44	1.21	+0.23
Calmar ratio Return relative to maximum drawdown	2.18	1.41	+0.77
Martin ratio Return relative to average drawdown	9.51	6.61	+2.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNMIX vs. ^GSPC - Sharpe Ratio Comparison

The current FNMIX Sharpe Ratio is 2.08, which is higher than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of FNMIX and ^GSPC, 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

	FNMIX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	0.92	+1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.61	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.68	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.46	+0.33

Correlation

The correlation between FNMIX and ^GSPC is 0.33, 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.

Drawdowns

FNMIX vs. ^GSPC - Drawdown Comparison

The maximum FNMIX drawdown since its inception was -42.76%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for FNMIX and ^GSPC.

Drawdown Indicators

	FNMIX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-42.76%	-56.78%	+14.02%
Max Drawdown (1Y) Largest decline over 1 year	-5.05%	-12.14%	+7.09%
Max Drawdown (5Y) Largest decline over 5 years	-27.16%	-25.43%	-1.73%
Max Drawdown (10Y) Largest decline over 10 years	-27.16%	-33.92%	+6.76%
Current Drawdown Current decline from peak	-3.57%	-5.78%	+2.21%
Average Drawdown Average peak-to-trough decline	-5.72%	-10.75%	+5.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.18%	2.60%	-1.42%

Volatility

FNMIX vs. ^GSPC - Volatility Comparison

The current volatility for Fidelity New Markets Income Fund (FNMIX) is 1.73%, while S&P 500 Index (^GSPC) has a volatility of 5.37%. This indicates that FNMIX experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNMIX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.73%	5.37%	-3.64%
Volatility (6M) Calculated over the trailing 6-month period	3.02%	9.55%	-6.53%
Volatility (1Y) Calculated over the trailing 1-year period	5.25%	18.33%	-13.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.54%	16.90%	-10.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.94%	18.05%	-11.11%