FTVFX vs. FXNAX

Last updated Jun 4, 2026

FTVFX (Fidelity Advisor Value Fund Class M) and FXNAX (Fidelity U.S. Bond Index Fund) are both mutual funds - FTVFX is a Mid Cap Value Equities fund managed by Fidelity, while FXNAX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. Over the past 10 years, FTVFX returned 11.52%/yr vs 1.51%/yr for FXNAX. At a correlation of -0.14, they often move in opposite directions. FTVFX charges 1.40%/yr vs 0.03%/yr for FXNAX.

Performance

FTVFX vs. FXNAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Value Fund Class M (FTVFX) and Fidelity U.S. Bond Index Fund (FXNAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTVFX achieves a 16.44% return, which is significantly higher than FXNAX's 0.40% return. Over the past 10 years, FTVFX has outperformed FXNAX with an annualized return of 11.52%, while FXNAX has yielded a comparatively lower 1.51% annualized return.

FTVFX

• 1D: 0.29%
• 1M: 3.44%
• YTD: 16.44%
• 6M: 17.70%
• 1Y: 33.92%
• 3Y*: 18.31%
• 5Y*: 9.67%
• 10Y*: 11.52%

FXNAX

• 1D: 0.00%
• 1M: 0.51%
• YTD: 0.40%
• 6M: 0.34%
• 1Y: 5.37%
• 3Y*: 4.02%
• 5Y*: 0.12%
• 10Y*: 1.51%

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

FTVFX vs. FXNAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTVFX Fidelity Advisor Value Fund Class M	16.44%	10.74%	9.80%	19.10%	-9.60%	34.39%	9.19%	31.01%	-18.21%	14.69%
FXNAX Fidelity U.S. Bond Index Fund	0.40%	7.14%	1.35%	5.82%	-13.55%	-2.10%	7.63%	8.50%	0.04%	3.50%

Correlation

The correlation between FTVFX and FXNAX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	-0.05
Correlation (All Time) Calculated using the full available price history since May 5, 2011	-0.14

The correlation between FTVFX and FXNAX shifts across timeframes, from -0.14 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FTVFX vs. FXNAX — Risk / Return Rank

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

FTVFX

FTVFX Risk / Return Rank: 63
FTVFX Sharpe Ratio Rank: 58
FTVFX Sortino Ratio Rank: 59
FTVFX Omega Ratio Rank: 50
FTVFX Calmar Ratio Rank: 79
FTVFX Martin Ratio Rank: 69

FXNAX

FXNAX Risk / Return Rank: 23
FXNAX Sharpe Ratio Rank: 23
FXNAX Sortino Ratio Rank: 24
FXNAX Omega Ratio Rank: 22
FXNAX Calmar Ratio Rank: 24
FXNAX Martin Ratio Rank: 21

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.

FTVFX vs. FXNAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Value Fund Class M (FTVFX) and Fidelity U.S. Bond Index Fund (FXNAX). 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.

	FTVFX	FXNAX	Difference
Sharpe ratio: Return per unit of total volatility	2.25	1.36	+0.89
Sortino ratio: Return per unit of downside risk	3.24	2.06	+1.18
Omega ratio: Gain probability vs. loss probability	1.39	1.24	+0.15
Calmar ratio: Return relative to maximum drawdown	3.63	1.83	+1.79
Martin ratio: Return relative to average drawdown	13.32	5.61	+7.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTVFX vs. FXNAX - Sharpe Ratio Comparison

The current FTVFX Sharpe Ratio is 2.25, which is higher than the FXNAX Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of FTVFX and FXNAX, 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

	FTVFX	FXNAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.25	1.36	+0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.02	+0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.30	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.45	-0.04

Drawdowns

FTVFX vs. FXNAX - Drawdown Comparison

The maximum FTVFX drawdown since its inception was -67.12%, which is greater than FXNAX's maximum drawdown of -19.51%. Use the drawdown chart below to compare losses from any high point for FTVFX and FXNAX.

Drawdown Indicators

	FTVFX	FXNAX	Difference
Max Drawdown Largest peak-to-trough decline	-67.12%	-19.51%	-47.61%
Max Drawdown (1Y) Largest decline over 1 year	-9.97%	-2.94%	-7.03%
Max Drawdown (3Y) Largest decline over 3 years	-24.49%	-6.16%	-18.33%
Max Drawdown (5Y) Largest decline over 5 years	-24.49%	-18.54%	-5.95%
Max Drawdown (10Y) Largest decline over 10 years	-48.60%	-19.51%	-29.09%
Current Drawdown Current decline from peak	0.00%	-2.89%	+2.89%
Average Drawdown Average peak-to-trough decline	-9.96%	-3.87%	-6.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	0.96%	+1.75%

Volatility

FTVFX vs. FXNAX - Volatility Comparison

Fidelity Advisor Value Fund Class M (FTVFX) has a higher volatility of 4.17% compared to Fidelity U.S. Bond Index Fund (FXNAX) at 1.41%. This indicates that FTVFX's price experiences larger fluctuations and is considered to be riskier than FXNAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTVFX	FXNAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.17%	1.41%	+2.76%
Volatility (6M) Calculated over the trailing 6-month period	11.40%	2.82%	+8.58%
Volatility (1Y) Calculated over the trailing 1-year period	16.05%	3.97%	+12.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.48%	6.07%	+14.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.15%	5.01%	+17.14%

FTVFX vs. FXNAX - Expense Ratio Comparison

FTVFX has a 1.40% expense ratio, which is higher than FXNAX's 0.03% expense ratio.

Dividends

FTVFX vs. FXNAX - Dividend Comparison

FTVFX's dividend yield for the trailing twelve months is around 7.02%, more than FXNAX's 3.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTVFX Fidelity Advisor Value Fund Class M	7.02%	8.17%	12.39%	0.62%	0.12%	4.24%	0.24%	2.83%	14.49%	2.94%	0.43%	1.87%
FXNAX Fidelity U.S. Bond Index Fund	3.71%	3.58%	3.40%	3.15%	1.81%	1.74%	2.92%	2.68%	2.74%	2.57%	2.76%	2.52%

Frequently Asked Questions

Can I hold both FTVFX and FXNAX in my portfolio?

FTVFX and FXNAX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTVFX or FXNAX?

FTVFX has higher volatility (4.17%) compared to FXNAX (1.41%). In terms of maximum drawdown, FTVFX dropped -67.12% vs FXNAX's -19.51%.

Which has better risk-adjusted returns?

FTVFX currently has the higher Sharpe Ratio (2.25 vs 1.36), 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.