FUAMX vs. IEI
FUAMX (Fidelity Intermediate Treasury Bond Index Fund) and IEI (iShares 3-7 Year Treasury Bond ETF) are both Government Bonds funds. Over the past 5 years, FUAMX returned -0.36%/yr vs 0.23%/yr for IEI. With a 0.96 correlation, they move nearly in lockstep. FUAMX charges 0.03%/yr vs 0.15%/yr for IEI.
Performance
FUAMX vs. IEI - Performance Comparison
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Returns By Period
In the year-to-date period, FUAMX achieves a -0.27% return, which is significantly higher than IEI's -0.42% return.
FUAMX
- 1D
- 0.10%
- 1M
- 0.10%
- YTD
- -0.27%
- 6M
- -0.64%
- 1Y
- 4.20%
- 3Y*
- 3.20%
- 5Y*
- -0.36%
- 10Y*
- —
IEI
- 1D
- -0.13%
- 1M
- -0.17%
- YTD
- -0.42%
- 6M
- -0.49%
- 1Y
- 3.28%
- 3Y*
- 3.52%
- 5Y*
- 0.23%
- 10Y*
- 1.28%
FUAMX vs. IEI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FUAMX Fidelity Intermediate Treasury Bond Index Fund | -0.27% | 8.00% | 0.40% | 4.08% | -13.06% | -3.19% | 8.86% | 7.25% | 1.25% | -0.35% |
IEI iShares 3-7 Year Treasury Bond ETF | -0.42% | 6.96% | 1.81% | 4.42% | -9.51% | -2.54% | 6.95% | 5.71% | 1.36% | -0.52% |
Correlation
The correlation between FUAMX and IEI is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2017 | 0.96 |
The correlation between FUAMX and IEI has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
FUAMX vs. IEI — Risk / Return Rank
FUAMX
IEI
FUAMX vs. IEI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Intermediate Treasury Bond Index Fund (FUAMX) and iShares 3-7 Year Treasury Bond ETF (IEI). 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.
| FUAMX | IEI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.19 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 1.32 | -0.22 |
| Martin ratioReturn relative to average drawdown | 3.27 | 3.96 | -0.69 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FUAMX | IEI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | 1.09 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.05 | 0.05 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.33 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.70 | -0.48 |
Drawdowns
FUAMX vs. IEI - Drawdown Comparison
The maximum FUAMX drawdown since its inception was -20.25%, which is greater than IEI's maximum drawdown of -14.60%. Use the drawdown chart below to compare losses from any high point for FUAMX and IEI.
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Drawdown Indicators
| FUAMX | IEI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.25% | -14.60% | -5.65% |
Max Drawdown (1Y)Largest decline over 1 year | -3.72% | -2.50% | -1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -6.07% | -3.66% | -2.41% |
Max Drawdown (5Y)Largest decline over 5 years | -18.27% | -13.88% | -4.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.60% | — |
Current DrawdownCurrent decline from peak | -6.69% | -1.85% | -4.84% |
Average DrawdownAverage peak-to-trough decline | -7.32% | -2.67% | -4.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 0.83% | +0.43% |
Volatility
FUAMX vs. IEI - Volatility Comparison
Fidelity Intermediate Treasury Bond Index Fund (FUAMX) has a higher volatility of 1.44% compared to iShares 3-7 Year Treasury Bond ETF (IEI) at 0.91%. This indicates that FUAMX's price experiences larger fluctuations and is considered to be riskier than IEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FUAMX | IEI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 0.91% | +0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 2.13% | +0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.34% | 3.04% | +1.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.63% | 4.77% | +1.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.85% | 3.93% | +1.92% |
FUAMX vs. IEI - Expense Ratio Comparison
FUAMX has a 0.03% expense ratio, which is lower than IEI's 0.15% 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
FUAMX vs. IEI - Dividend Comparison
FUAMX's dividend yield for the trailing twelve months is around 3.75%, more than IEI's 3.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FUAMX Fidelity Intermediate Treasury Bond Index Fund | 3.75% | 3.52% | 3.58% | 2.20% | 1.24% | 1.76% | 2.90% | 2.16% | 2.23% | 0.49% | 0.00% | 0.00% |
IEI iShares 3-7 Year Treasury Bond ETF | 3.64% | 3.48% | 3.18% | 2.36% | 1.37% | 0.73% | 1.12% | 2.01% | 1.95% | 1.51% | 1.33% | 1.39% |
Frequently Asked Questions
With a correlation of 0.96, FUAMX and IEI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FUAMX has higher volatility (1.44%) compared to IEI (0.91%). In terms of maximum drawdown, FUAMX dropped -20.25% vs IEI's -14.60%.
IEI currently has the higher Sharpe Ratio (1.09 vs 0.95), 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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