FUTBX vs. GOVT
FUTBX (Fidelity SAI U.S. Treasury Bond Index Fund) and GOVT (iShares U.S. Treasury Bond ETF) are both Government Bonds funds. Over the past 5 years, FUTBX returned -1.02%/yr vs -0.94%/yr for GOVT. Their 0.95 correlation means they have historically moved very closely together. FUTBX charges 0.03%/yr vs 0.05%/yr for GOVT.
Performance
FUTBX vs. GOVT - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FUTBX having a -0.71% return and GOVT slightly lower at -0.74%.
FUTBX
- 1D
- 0.00%
- 1M
- -1.03%
- 6M
- -0.84%
- YTD
- -0.71%
- 1Y
- 1.02%
- 3Y*
- 2.88%
- 5Y*
- -1.02%
- 10Y*
- —
- ALL TIME*
- 1.18%
GOVT
- 1D
- -0.24%
- 1M
- -1.06%
- 6M
- -0.78%
- YTD
- -0.74%
- 1Y
- 1.07%
- 3Y*
- 3.05%
- 5Y*
- -0.94%
- 10Y*
- 0.68%
- ALL TIME*
- 1.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $167.09M | $164.37M | $191.03M |
FUTBX vs. GOVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FUTBX Fidelity SAI U.S. Treasury Bond Index Fund | -0.71% | 6.12% | 0.70% | 4.19% | -13.00% | -2.54% | 7.76% | 7.30% | 0.95% | 2.28% |
GOVT iShares U.S. Treasury Bond ETF | -0.74% | 3.77% | 2.95% | 4.17% | -13.39% | -1.11% | 7.28% | 7.36% | 0.26% | 2.19% |
Correlation
The correlation between FUTBX and GOVT is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.95 |
The correlation between FUTBX and GOVT has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
FUTBX vs. GOVT — Risk / Return Rank
FUTBX
GOVT
FUTBX vs. GOVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI U.S. Treasury Bond Index Fund (FUTBX) and iShares U.S. Treasury Bond ETF (GOVT). 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.
| FUTBX | GOVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.09 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.71 | 0.68 | +0.03 |
| Martin ratioReturn relative to average drawdown | 1.68 | 1.61 | +0.06 |
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Drawdowns
FUTBX vs. GOVT - Drawdown Comparison
The maximum FUTBX drawdown since its inception was -19.69%, roughly equal to the maximum GOVT drawdown of -19.07%. Use the drawdown chart below to compare losses from any high point for FUTBX and GOVT.
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Drawdown Indicators
| FUTBX | GOVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.69% | -19.07% | -0.62% |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | -2.85% | -0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -4.86% | -4.90% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -17.03% | -16.60% | -0.43% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.07% | — |
Current DrawdownCurrent decline from peak | -8.34% | -7.75% | -0.59% |
Average DrawdownAverage peak-to-trough decline | -6.97% | -5.27% | -1.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 1.20% | +0.10% |
Volatility
FUTBX vs. GOVT - Volatility Comparison
Fidelity SAI U.S. Treasury Bond Index Fund (FUTBX) and iShares U.S. Treasury Bond ETF (GOVT) have volatilities of 0.92% and 0.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FUTBX | GOVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 0.95% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 2.75% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.73% | 3.55% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.80% | 6.03% | -0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.13% | 5.21% | -0.08% |
FUTBX vs. GOVT - Expense Ratio Comparison
FUTBX has a 0.03% expense ratio, which is lower than GOVT's 0.05% 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
FUTBX vs. GOVT - Dividend Comparison
FUTBX's dividend yield for the trailing twelve months is around 3.50%, less than GOVT's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FUTBX Fidelity SAI U.S. Treasury Bond Index Fund | 3.50% | 3.43% | 2.90% | 2.12% | 1.12% | 0.86% | 4.54% | 2.75% | 2.05% | 1.65% | 0.00% | 0.00% |
GOVT iShares U.S. Treasury Bond ETF | 3.33% | 3.49% | 3.14% | 2.65% | 1.77% | 0.96% | 2.17% | 1.98% | 1.97% | 1.57% | 1.40% | 1.25% |
Frequently Asked Questions
With a correlation of 0.93, FUTBX and GOVT 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.
GOVT has higher volatility (0.95%) compared to FUTBX (0.92%). In terms of maximum drawdown, FUTBX dropped -19.69% vs GOVT's -19.07%.
FUTBX currently has the higher Sharpe Ratio (0.59 vs 0.55), 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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