FPIOX vs. SPTL
FPIOX (Strategic Advisers Income Opportunities Fund) and SPTL (SPDR Portfolio Long Term Treasury ETF) are both funds - FPIOX is a High Yield Bonds fund managed by Fidelity, while SPTL is a Government Bonds fund tracking the Bloomberg Long U.S. Treasury Index. Over the past 10 years, FPIOX returned 4.95%/yr vs -1.66%/yr for SPTL. Their -0.06 correlation means they have often moved in opposite directions in the past. FPIOX charges 0.49%/yr vs 0.03%/yr for SPTL.
Performance
FPIOX vs. SPTL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FPIOX achieves a 1.14% return, which is significantly higher than SPTL's -2.10% return. Over the past 10 years, FPIOX has outperformed SPTL with an annualized return of 4.95%, while SPTL has yielded a comparatively lower -1.66% annualized return.
FPIOX
- 1D
- 0.34%
- 1M
- -0.56%
- 6M
- 1.02%
- YTD
- 1.14%
- 1Y
- 4.29%
- 3Y*
- 7.72%
- 5Y*
- 3.50%
- 10Y*
- 4.95%
- ALL TIME*
- 5.27%
SPTL
- 1D
- 0.84%
- 1M
- -2.33%
- 6M
- -1.93%
- YTD
- -2.10%
- 1Y
- -0.80%
- 3Y*
- 0.23%
- 5Y*
- -6.98%
- 10Y*
- -1.66%
- ALL TIME*
- 3.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $141.47M | $124.55M | $144.38M |
FPIOX vs. SPTL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FPIOX Strategic Advisers Income Opportunities Fund | 1.14% | 8.47% | 7.89% | 11.85% | -11.84% | 5.35% | 5.64% | 14.77% | -3.53% | 8.21% |
SPTL SPDR Portfolio Long Term Treasury ETF | -2.10% | 5.28% | -6.23% | 3.30% | -29.44% | -4.99% | 18.07% | 13.74% | -1.57% | 9.01% |
Correlation
The correlation between FPIOX and SPTL is 0.29, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.29 |
Correlation (3Y) Balances recent behavior with more history. | 0.38 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.32 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2007 | -0.06 |
The correlation between FPIOX and SPTL shifts across timeframes, from -0.06 (all time) to 0.38 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FPIOX vs. SPTL — Risk / Return Rank
FPIOX
SPTL
FPIOX vs. SPTL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategic Advisers Income Opportunities Fund (FPIOX) and SPDR Portfolio Long Term Treasury ETF (SPTL). 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.
| FPIOX | SPTL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.52 | ||
| Sortino ratioReturn per unit of downside risk | +2.48 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.99 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | -0.11 | +1.97 |
| Martin ratioReturn relative to average drawdown | 8.17 | -0.25 | +8.41 |
Loading charts...
Drawdowns
FPIOX vs. SPTL - Drawdown Comparison
The maximum FPIOX drawdown since its inception was -36.95%, smaller than the maximum SPTL drawdown of -46.20%. Use the drawdown chart below to compare losses from any high point for FPIOX and SPTL.
Loading charts...
Drawdown Indicators
| FPIOX | SPTL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.95% | -46.20% | +9.25% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -7.09% | +4.43% |
Max Drawdown (3Y)Largest decline over 3 years | -3.92% | -13.39% | +9.47% |
Max Drawdown (5Y)Largest decline over 5 years | -15.14% | -41.02% | +25.88% |
Max Drawdown (10Y)Largest decline over 10 years | -21.77% | -46.20% | +24.43% |
Current DrawdownCurrent decline from peak | -0.78% | -37.96% | +37.18% |
Average DrawdownAverage peak-to-trough decline | -3.62% | -14.44% | +10.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 3.26% | -2.69% |
Volatility
FPIOX vs. SPTL - Volatility Comparison
The current volatility for Strategic Advisers Income Opportunities Fund (FPIOX) is 0.76%, while SPDR Portfolio Long Term Treasury ETF (SPTL) has a volatility of 2.52%. This indicates that FPIOX experiences smaller price fluctuations and is considered to be less risky than SPTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FPIOX | SPTL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 2.52% | -1.76% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 6.44% | -3.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.46% | 8.46% | -5.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.11% | 14.51% | -9.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.50% | 13.88% | -8.38% |
FPIOX vs. SPTL - Expense Ratio Comparison
FPIOX has a 0.49% expense ratio, which is higher than SPTL's 0.03% expense ratio.
Dividends
FPIOX vs. SPTL - Dividend Comparison
FPIOX's dividend yield for the trailing twelve months is around 4.45%, more than SPTL's 4.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPIOX Strategic Advisers Income Opportunities Fund | 4.45% | 5.34% | 5.81% | 5.52% | 4.34% | 4.70% | 5.20% | 5.53% | 5.48% | 5.02% | 5.88% | 6.58% |
SPTL SPDR Portfolio Long Term Treasury ETF | 4.32% | 4.12% | 4.03% | 3.24% | 2.75% | 1.68% | 1.71% | 2.45% | 2.69% | 2.53% | 2.56% | 2.60% |
Frequently Asked Questions
FPIOX and SPTL have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPTL has higher volatility (2.52%) compared to FPIOX (0.76%). In terms of maximum drawdown, FPIOX dropped -36.95% vs SPTL's -46.20%.
FPIOX currently has the higher Sharpe Ratio (1.43 vs -0.09), 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.
Find the right allocation for FPIOX and SPTL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer