FOUR vs. FXAIX

Last updated Jun 4, 2026

FOUR (Shift4 Payments, Inc.) is a stock, while FXAIX (Fidelity 500 Index Fund) is S&P 500 fund tracking the S&P 500 Index. Over the past 5 years, FOUR returned -15.79%/yr vs 14.28%/yr for FXAIX. At a 0.48 correlation, their price movements are largely independent.

Performance

FOUR vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Shift4 Payments, Inc. (FOUR) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FOUR achieves a -36.13% return, which is significantly lower than FXAIX's 11.71% return.

FOUR

• 1D: -7.09%
• 1M: -8.57%
• YTD: -36.13%
• 6M: -42.62%
• 1Y: -57.74%
• 3Y*: -15.09%
• 5Y*: -15.79%
• 10Y*: —

FXAIX

• 1D: 0.13%
• 1M: 5.80%
• YTD: 11.71%
• 6M: 11.74%
• 1Y: 28.99%
• 3Y*: 22.75%
• 5Y*: 14.28%
• 10Y*: 15.66%

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

FOUR vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FOUR Shift4 Payments, Inc.	-36.13%	-39.32%	39.60%	32.92%	-3.45%	-23.17%	124.81%
FXAIX Fidelity 500 Index Fund	11.71%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.70%

Correlation

The correlation between FOUR and FXAIX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jun 8, 2020	0.48

The correlation between FOUR and FXAIX shifts across timeframes, from 0.39 (1 year) to 0.51 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FOUR vs. FXAIX — Risk / Return Rank

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

FOUR

FOUR Risk / Return Rank: 4
FOUR Sharpe Ratio Rank: 3
FOUR Sortino Ratio Rank: 4
FOUR Omega Ratio Rank: 4
FOUR Calmar Ratio Rank: 4
FOUR Martin Ratio Rank: 6

FXAIX

FXAIX Risk / Return Rank: 73
FXAIX Sharpe Ratio Rank: 76
FXAIX Sortino Ratio Rank: 67
FXAIX Omega Ratio Rank: 67
FXAIX Calmar Ratio Rank: 74
FXAIX Martin Ratio Rank: 83

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.

FOUR vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Shift4 Payments, Inc. (FOUR) and Fidelity 500 Index Fund (FXAIX). 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.

	FOUR	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	-1.08	2.52	-3.60
Sortino ratio: Return per unit of downside risk	-1.76	3.42	-5.18
Omega ratio: Gain probability vs. loss probability	0.78	1.46	-0.68
Calmar ratio: Return relative to maximum drawdown	-0.93	3.36	-4.29
Martin ratio: Return relative to average drawdown	-1.47	15.70	-17.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FOUR vs. FXAIX - Sharpe Ratio Comparison

The current FOUR Sharpe Ratio is -1.08, which is lower than the FXAIX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of FOUR and FXAIX, 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

	FOUR	FXAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.08	2.52	-3.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.28	0.85	-1.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	0.82	-0.77

Drawdowns

FOUR vs. FXAIX - Drawdown Comparison

The maximum FOUR drawdown since its inception was -69.95%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for FOUR and FXAIX.

Drawdown Indicators

	FOUR	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-69.95%	-33.79%	-36.16%
Max Drawdown (1Y) Largest decline over 1 year	-62.34%	-8.89%	-53.45%
Max Drawdown (3Y) Largest decline over 3 years	-67.99%	-18.76%	-49.23%
Max Drawdown (5Y) Largest decline over 5 years	-69.68%	-24.50%	-45.18%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.79%	—
Current Drawdown Current decline from peak	-67.99%	0.00%	-67.99%
Average Drawdown Average peak-to-trough decline	-31.53%	-3.79%	-27.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.22%	1.90%	+37.32%

Volatility

FOUR vs. FXAIX - Volatility Comparison

Shift4 Payments, Inc. (FOUR) has a higher volatility of 19.73% compared to Fidelity 500 Index Fund (FXAIX) at 2.83%. This indicates that FOUR's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FOUR	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.73%	2.83%	+16.90%
Volatility (6M) Calculated over the trailing 6-month period	45.74%	8.97%	+36.77%
Volatility (1Y) Calculated over the trailing 1-year period	53.60%	11.86%	+41.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.20%	16.91%	+39.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.44%	18.07%	+39.37%

Dividends

FOUR vs. FXAIX - Dividend Comparison

FOUR has not paid dividends to shareholders, while FXAIX's dividend yield for the trailing twelve months is around 1.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOUR Shift4 Payments, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FXAIX Fidelity 500 Index Fund	1.03%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%

Frequently Asked Questions

Can I hold both FOUR and FXAIX in my portfolio?

FOUR and FXAIX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FOUR or FXAIX?

FOUR has higher volatility (19.73%) compared to FXAIX (2.83%). In terms of maximum drawdown, FOUR dropped -69.95% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FXAIX currently has the higher Sharpe Ratio (2.52 vs -1.08), 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.