FTLTX vs. GUSTX
FTLTX (Fidelity Series Long-Term Treasury Bond Index Fund) and GUSTX (GMO U.S. Treasury Fund) are both Government Bonds funds. Over the past 5 years, FTLTX returned -7.36%/yr vs 1.97%/yr for GUSTX. Their 0.07 correlation means their historical movements had little consistent relationship. FTLTX charges 0.00%/yr vs 0.01%/yr for GUSTX.
Performance
FTLTX vs. GUSTX - 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 GUSTX's 1.59% 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%
GUSTX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 1.34%
- YTD
- 1.59%
- 1Y
- 3.31%
- 3Y*
- 3.13%
- 5Y*
- 1.97%
- 10Y*
- -13.73%
- ALL TIME*
- -8.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FTLTX vs. GUSTX - 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% |
GUSTX GMO U.S. Treasury Fund | 1.59% | 4.45% | 2.21% | 2.52% | -0.73% | -0.06% | 0.89% | 0.14% | -79.59% | 0.43% |
Correlation
The correlation between FTLTX and GUSTX is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.01 |
Correlation (3Y) Balances recent behavior with more history. | 0.04 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.07 |
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Return for Risk
FTLTX vs. GUSTX — Risk / Return Rank
FTLTX
GUSTX
FTLTX vs. GUSTX - 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 GMO U.S. Treasury Fund (GUSTX). 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 | GUSTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.03 | ||
| Sortino ratioReturn per unit of downside risk | -7.67 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 4.27 | -3.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.22 | 17.28 | -17.49 |
| Martin ratioReturn relative to average drawdown | -0.48 | 45.50 | -45.98 |
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Drawdowns
FTLTX vs. GUSTX - Drawdown Comparison
The maximum FTLTX drawdown since its inception was -46.86%, smaller than the maximum GUSTX drawdown of -79.98%. Use the drawdown chart below to compare losses from any high point for FTLTX and GUSTX.
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Drawdown Indicators
| FTLTX | GUSTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.86% | -79.98% | +33.12% |
Max Drawdown (1Y)Largest decline over 1 year | -7.38% | -0.20% | -7.18% |
Max Drawdown (3Y)Largest decline over 3 years | -13.45% | -1.19% | -12.26% |
Max Drawdown (5Y)Largest decline over 5 years | -41.52% | -1.19% | -40.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -79.98% | — |
Current DrawdownCurrent decline from peak | -39.15% | -77.65% | +38.50% |
Average DrawdownAverage peak-to-trough decline | -20.29% | -36.45% | +16.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.28% | 0.07% | +3.21% |
Volatility
FTLTX vs. GUSTX - Volatility Comparison
Fidelity Series Long-Term Treasury Bond Index Fund (FTLTX) has a higher volatility of 2.42% compared to GMO U.S. Treasury Fund (GUSTX) at 0.00%. This indicates that FTLTX's price experiences larger fluctuations and is considered to be riskier than GUSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTLTX | GUSTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.42% | 0.00% | +2.42% |
Volatility (6M)Calculated over the trailing 6-month period | 6.30% | 0.94% | +5.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.35% | 1.22% | +7.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.46% | 1.74% | +12.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.79% | 25.46% | -11.67% |
FTLTX vs. GUSTX - Expense Ratio Comparison
FTLTX has a 0.00% expense ratio, which is lower than GUSTX's 0.01% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FTLTX vs. GUSTX - Dividend Comparison
FTLTX's dividend yield for the trailing twelve months is around 3.76%, more than GUSTX's 3.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
GUSTX GMO U.S. Treasury Fund | 3.46% | 4.15% | 1.98% | 2.28% | 0.26% | 0.14% | 0.09% | 0.14% | 8.96% | 0.50% | 0.05% | 0.04% |
Frequently Asked Questions
FTLTX and GUSTX have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FTLTX has higher volatility (2.42%) compared to GUSTX (0.00%). In terms of maximum drawdown, FTLTX dropped -46.86% vs GUSTX's -79.98%.
GUSTX currently has the higher Sharpe Ratio (2.84 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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