FNMIX vs. AAPL

Last updated Jun 23, 2026

FNMIX (Fidelity New Markets Income Fund) is Emerging Markets Bonds fund managed by Fidelity, while AAPL (Apple Inc) is a stock. Over the past 10 years, FNMIX returned 4.02%/yr vs 30.17%/yr for AAPL. At a 0.17 correlation, their price movements are largely independent.

Performance

FNMIX vs. AAPL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity New Markets Income Fund (FNMIX) and Apple Inc (AAPL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNMIX achieves a 4.33% return, which is significantly lower than AAPL's 9.45% return. Over the past 10 years, FNMIX has underperformed AAPL with an annualized return of 4.02%, while AAPL has yielded a comparatively higher 30.17% annualized return.

FNMIX

• 1D: 0.07%
• 1M: 2.00%
• YTD: 4.33%
• 6M: 4.81%
• 1Y: 15.76%
• 3Y*: 12.49%
• 5Y*: 3.85%
• 10Y*: 4.02%

AAPL

• 1D: -0.34%
• 1M: -3.82%
• YTD: 9.45%
• 6M: 9.81%
• 1Y: 48.35%
• 3Y*: 17.28%
• 5Y*: 17.91%
• 10Y*: 30.17%

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

FNMIX vs. AAPL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNMIX Fidelity New Markets Income Fund	4.33%	14.86%	6.80%	14.00%	-16.09%	-2.42%	4.62%	10.93%	-7.77%	10.16%
AAPL Apple Inc	9.45%	9.05%	30.71%	49.01%	-26.40%	34.65%	82.31%	88.96%	-5.39%	48.46%

Correlation

The correlation between FNMIX and AAPL is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since May 4, 1993	0.17

Return for Risk

FNMIX vs. AAPL — Risk / Return Rank

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

FNMIX

FNMIX Risk / Return Rank: 94
FNMIX Sharpe Ratio Rank: 98
FNMIX Sortino Ratio Rank: 98
FNMIX Omega Ratio Rank: 95
FNMIX Calmar Ratio Rank: 88
FNMIX Martin Ratio Rank: 92

AAPL

AAPL Risk / Return Rank: 88
AAPL Sharpe Ratio Rank: 90
AAPL Sortino Ratio Rank: 89
AAPL Omega Ratio Rank: 89
AAPL Calmar Ratio Rank: 87
AAPL Martin Ratio Rank: 86

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. AAPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity New Markets Income Fund (FNMIX) and Apple Inc (AAPL). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FNMIX	AAPL	Difference
Sharpe ratio: Return per unit of total volatility	3.52	2.16	+1.36
Sortino ratio: Return per unit of downside risk	5.87	3.03	+2.84
Omega ratio: Gain probability vs. loss probability	1.75	1.39	+0.36
Calmar ratio: Return relative to maximum drawdown	4.06	3.52	+0.54
Martin ratio: Return relative to average drawdown	17.75	8.68	+9.08

FNMIX vs. AAPL - Sharpe Ratio Comparison

The current FNMIX Sharpe Ratio is 3.52, which is higher than the AAPL Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of FNMIX and AAPL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FNMIX vs. AAPL - Drawdown Comparison

The maximum FNMIX drawdown since its inception was -42.76%, smaller than the maximum AAPL drawdown of -81.80%. Use the drawdown chart below to compare losses from any high point for FNMIX and AAPL.

Drawdown Indicators

	FNMIX	AAPL	Difference
Max Drawdown Largest peak-to-trough decline	-42.76%	-81.80%	+39.04%
Max Drawdown (1Y) Largest decline over 1 year	-3.85%	-13.80%	+9.95%
Max Drawdown (3Y) Largest decline over 3 years	-6.42%	-33.36%	+26.94%
Max Drawdown (5Y) Largest decline over 5 years	-27.16%	-33.36%	+6.20%
Max Drawdown (10Y) Largest decline over 10 years	-27.16%	-38.52%	+11.36%
Current Drawdown Current decline from peak	-0.21%	-5.77%	+5.56%
Average Drawdown Average peak-to-trough decline	-5.68%	-29.58%	+23.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	5.59%	-4.71%

Volatility

FNMIX vs. AAPL - Volatility Comparison

The current volatility for Fidelity New Markets Income Fund (FNMIX) is 1.22%, while Apple Inc (AAPL) has a volatility of 7.01%. This indicates that FNMIX experiences smaller price fluctuations and is considered to be less risky than AAPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNMIX	AAPL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	7.01%	-5.79%
Volatility (6M) Calculated over the trailing 6-month period	3.64%	16.59%	-12.95%
Volatility (1Y) Calculated over the trailing 1-year period	4.45%	22.59%	-18.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.62%	27.52%	-20.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.92%	28.94%	-22.02%

Dividends

FNMIX vs. AAPL - Dividend Comparison

FNMIX's dividend yield for the trailing twelve months is around 4.86%, more than AAPL's 0.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAPL Apple Inc	0.35%	0.38%	0.40%	0.49%	0.70%	0.49%	0.61%	1.04%	1.79%	1.45%	1.93%	1.93%
FNMIX Fidelity New Markets Income Fund	4.86%	5.07%	4.71%	5.15%	3.93%	3.48%	4.06%	4.87%	4.98%	5.77%	6.93%	4.95%

Frequently Asked Questions

Can I hold both FNMIX and AAPL in my portfolio?

FNMIX and AAPL have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNMIX or AAPL?

AAPL has higher volatility (7.01%) compared to FNMIX (1.22%). In terms of maximum drawdown, FNMIX dropped -42.76% vs AAPL's -81.80%.

Which has better risk-adjusted returns?

FNMIX currently has the higher Sharpe Ratio (3.52 vs 2.16), 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.