FSPGX vs. IBHI
FSPGX (Fidelity Large Cap Growth Index Fund) and IBHI (iShares iBonds 2029 Term High Yield and Income ETF) are both funds - FSPGX is a Large Cap Growth Equities fund managed by Fidelity, while IBHI is a High Yield Bonds fund tracking the Bloomberg 2029 Term High Yield and Income Index - Benchmark TR Gross. Over the past 3 years, FSPGX returned 22.52%/yr vs 8.77%/yr for IBHI. A 0.59 correlation means they provide meaningful diversification when combined. FSPGX charges 0.04%/yr vs 0.35%/yr for IBHI.
Performance
FSPGX vs. IBHI - Performance Comparison
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Returns By Period
In the year-to-date period, FSPGX achieves a 3.00% return, which is significantly higher than IBHI's 1.69% return.
FSPGX
- 1D
- 0.02%
- 1M
- -2.20%
- YTD
- 3.00%
- 6M
- 4.01%
- 1Y
- 20.62%
- 3Y*
- 22.52%
- 5Y*
- 14.08%
- 10Y*
- —
IBHI
- 1D
- 0.21%
- 1M
- 0.88%
- YTD
- 1.69%
- 6M
- 2.26%
- 1Y
- 7.17%
- 3Y*
- 8.77%
- 5Y*
- —
- 10Y*
- —
FSPGX vs. IBHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FSPGX Fidelity Large Cap Growth Index Fund | 3.00% | 18.54% | 33.27% | 42.77% | -16.09% |
IBHI iShares iBonds 2029 Term High Yield and Income ETF | 1.69% | 7.88% | 8.33% | 14.21% | -8.52% |
Correlation
The correlation between FSPGX and IBHI is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2022 | 0.59 |
The correlation between FSPGX and IBHI has been stable across timeframes, ranging from 0.51 to 0.59 - a consistent structural relationship.
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Return for Risk
FSPGX vs. IBHI — Risk / Return Rank
FSPGX
IBHI
FSPGX vs. IBHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Large Cap Growth Index Fund (FSPGX) and iShares iBonds 2029 Term High Yield and Income ETF (IBHI). 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.
| FSPGX | IBHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.36 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 3.41 | -2.23 |
| Martin ratioReturn relative to average drawdown | 3.92 | 14.91 | -11.00 |
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Drawdowns
FSPGX vs. IBHI - Drawdown Comparison
The maximum FSPGX drawdown since its inception was -32.66%, which is greater than IBHI's maximum drawdown of -13.65%. Use the drawdown chart below to compare losses from any high point for FSPGX and IBHI.
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Drawdown Indicators
| FSPGX | IBHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.66% | -13.65% | -19.01% |
Max Drawdown (1Y)Largest decline over 1 year | -16.17% | -2.11% | -14.06% |
Max Drawdown (3Y)Largest decline over 3 years | -23.32% | -5.73% | -17.59% |
Max Drawdown (5Y)Largest decline over 5 years | -32.66% | — | — |
Current DrawdownCurrent decline from peak | -5.51% | 0.00% | -5.51% |
Average DrawdownAverage peak-to-trough decline | -6.36% | -2.82% | -3.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.89% | 0.48% | +4.41% |
Volatility
FSPGX vs. IBHI - Volatility Comparison
Fidelity Large Cap Growth Index Fund (FSPGX) has a higher volatility of 5.42% compared to iShares iBonds 2029 Term High Yield and Income ETF (IBHI) at 0.97%. This indicates that FSPGX's price experiences larger fluctuations and is considered to be riskier than IBHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSPGX | IBHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.42% | 0.97% | +4.45% |
Volatility (6M)Calculated over the trailing 6-month period | 12.42% | 2.80% | +9.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.96% | 3.82% | +12.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.56% | 7.95% | +13.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.56% | 7.95% | +13.61% |
FSPGX vs. IBHI - Expense Ratio Comparison
FSPGX has a 0.04% expense ratio, which is lower than IBHI's 0.35% expense ratio.
Dividends
FSPGX vs. IBHI - Dividend Comparison
FSPGX's dividend yield for the trailing twelve months is around 0.33%, less than IBHI's 6.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FSPGX Fidelity Large Cap Growth Index Fund | 0.33% | 0.34% | 0.37% | 0.73% | 0.86% | 2.22% | 1.76% | 1.04% | 1.32% | 0.22% |
IBHI iShares iBonds 2029 Term High Yield and Income ETF | 6.68% | 6.79% | 6.66% | 6.48% | 5.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FSPGX and IBHI have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSPGX has higher volatility (5.42%) compared to IBHI (0.97%). In terms of maximum drawdown, FSPGX dropped -32.66% vs IBHI's -13.65%.
IBHI currently has the higher Sharpe Ratio (1.89 vs 1.20), 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.
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