FTLTX vs. FCNTX
FTLTX (Fidelity Series Long-Term Treasury Bond Index Fund) and FCNTX (Fidelity Contrafund) are both mutual funds - FTLTX is a Government Bonds fund managed by Fidelity, while FCNTX is a Large Cap Growth Equities fund managed by Fidelity. Over the past 5 years, FTLTX returned -7.36%/yr vs 13.67%/yr for FCNTX. Their -0.07 correlation means they have often moved in opposite directions in the past. FTLTX charges 0.00%/yr vs 0.39%/yr for FCNTX.
Performance
FTLTX vs. FCNTX - Performance Comparison
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Returns By Period
In the year-to-date period, FTLTX achieves a -3.32% return, which is significantly lower than FCNTX's 9.08% return.
FTLTX
- 1D
- 0.39%
- 1M
- -3.58%
- 6M
- -3.11%
- YTD
- -3.32%
- 1Y
- -1.95%
- 3Y*
- -0.06%
- 5Y*
- -7.36%
- 10Y*
- —
- ALL TIME*
- -0.66%
FCNTX
- 1D
- 2.04%
- 1M
- -0.68%
- 6M
- 6.92%
- YTD
- 9.08%
- 1Y
- 15.62%
- 3Y*
- 25.01%
- 5Y*
- 13.67%
- 10Y*
- 17.16%
- ALL TIME*
- 13.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
FCNTX Fidelity Contrafund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
FTLTX vs. FCNTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTLTX Fidelity Series Long-Term Treasury Bond Index Fund | -3.32% | 5.45% | -6.13% | 3.27% | -29.89% | -5.13% | 17.45% | 14.23% | -1.63% | 8.22% |
FCNTX Fidelity Contrafund | 9.08% | 21.76% | 36.00% | 38.67% | -28.31% | 24.52% | 32.48% | 30.00% | -3.81% | 32.18% |
Correlation
The correlation between FTLTX and FCNTX is 0.21, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.21 |
Correlation (3Y) Balances recent behavior with more history. | 0.11 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | -0.07 |
The correlation between FTLTX and FCNTX shifts across timeframes, from -0.07 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FTLTX vs. FCNTX — Risk / Return Rank
FTLTX
FCNTX
FTLTX vs. FCNTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Long-Term Treasury Bond Index Fund (FTLTX) and Fidelity Contrafund (FCNTX). 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.
| FTLTX | FCNTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.33 | ||
| Sortino ratioReturn per unit of downside risk | -1.85 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.20 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.22 | 1.55 | -1.77 |
| Martin ratioReturn relative to average drawdown | -0.48 | 6.03 | -6.51 |
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Drawdowns
FTLTX vs. FCNTX - Drawdown Comparison
The maximum FTLTX drawdown since its inception was -46.86%, roughly equal to the maximum FCNTX drawdown of -49.19%. Use the drawdown chart below to compare losses from any high point for FTLTX and FCNTX.
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Drawdown Indicators
| FTLTX | FCNTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.86% | -49.19% | +2.33% |
Max Drawdown (1Y)Largest decline over 1 year | -7.38% | -11.30% | +3.92% |
Max Drawdown (3Y)Largest decline over 3 years | -13.45% | -19.75% | +6.30% |
Max Drawdown (5Y)Largest decline over 5 years | -41.52% | -32.59% | -8.93% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.59% | — |
Current DrawdownCurrent decline from peak | -39.15% | -2.18% | -36.97% |
Average DrawdownAverage peak-to-trough decline | -20.29% | -8.14% | -12.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.28% | 2.91% | +0.37% |
Volatility
FTLTX vs. FCNTX - Volatility Comparison
The current volatility for Fidelity Series Long-Term Treasury Bond Index Fund (FTLTX) is 2.42%, while Fidelity Contrafund (FCNTX) has a volatility of 4.63%. This indicates that FTLTX experiences smaller price fluctuations and is considered to be less risky than FCNTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTLTX | FCNTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.42% | 4.63% | -2.21% |
Volatility (6M)Calculated over the trailing 6-month period | 6.30% | 12.38% | -6.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.35% | 15.43% | -7.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.46% | 19.40% | -4.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.79% | 19.75% | -5.96% |
FTLTX vs. FCNTX - Expense Ratio Comparison
FTLTX has a 0.00% expense ratio, which is lower than FCNTX's 0.39% expense ratio.
Dividends
FTLTX vs. FCNTX - Dividend Comparison
FTLTX's dividend yield for the trailing twelve months is around 3.76%, less than FCNTX's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCNTX Fidelity Contrafund | 4.28% | 5.21% | 4.19% | 3.78% | 11.87% | 10.80% | 8.01% | 4.16% | 7.46% | 6.08% | 3.81% | 5.33% |
FTLTX Fidelity Series Long-Term Treasury Bond Index Fund | 3.76% | 3.83% | 3.71% | 3.17% | 2.20% | 2.06% | 12.95% | 10.68% | 2.89% | 2.44% | 0.00% | 0.00% |
Frequently Asked Questions
FTLTX and FCNTX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCNTX has higher volatility (4.63%) compared to FTLTX (2.42%). In terms of maximum drawdown, FTLTX dropped -46.86% vs FCNTX's -49.19%.
FCNTX currently has the higher Sharpe Ratio (1.14 vs -0.19), 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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