FVIIX vs. FGOVX
FVIIX (Fidelity Advisor Government Income Fund Class I) and FGOVX (Fidelity Government Income Fund) are both Government Bonds funds from Fidelity. Over the past 10 years, FVIIX returned 0.51%/yr vs 0.58%/yr for FGOVX. Their 0.96 correlation means they have historically moved very closely together. FVIIX charges 0.49%/yr vs 0.45%/yr for FGOVX.
Performance
FVIIX vs. FGOVX - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with FVIIX having a -0.60% return and FGOVX slightly higher at -0.58%. Over the past 10 years, FVIIX has underperformed FGOVX with an annualized return of 0.51%, while FGOVX has yielded a comparatively higher 0.58% annualized return.
FVIIX
- 1D
- 0.00%
- 1M
- -1.09%
- 6M
- -0.75%
- YTD
- -0.60%
- 1Y
- 1.51%
- 3Y*
- 2.80%
- 5Y*
- -1.13%
- 10Y*
- 0.51%
- ALL TIME*
- 2.24%
FGOVX
- 1D
- 0.00%
- 1M
- -1.09%
- 6M
- -0.63%
- YTD
- -0.58%
- 1Y
- 1.55%
- 3Y*
- 2.92%
- 5Y*
- -1.03%
- 10Y*
- 0.58%
- ALL TIME*
- 3.51%
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 |
FVIIX vs. FGOVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FVIIX Fidelity Advisor Government Income Fund Class I | -0.60% | 6.52% | 0.07% | 3.80% | -13.09% | -2.26% | 6.85% | 6.27% | 0.67% | 2.06% |
FGOVX Fidelity Government Income Fund | -0.58% | 6.57% | 0.09% | 4.23% | -13.09% | -2.25% | 6.79% | 6.41% | 0.63% | 2.22% |
Correlation
The correlation between FVIIX and FGOVX 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. | 0.97 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2005 | 0.96 |
The correlation between FVIIX and FGOVX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FVIIX vs. FGOVX — Risk / Return Rank
FVIIX
FGOVX
FVIIX vs. FGOVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Government Income Fund Class I (FVIIX) and Fidelity Government Income Fund (FGOVX). 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.
| FVIIX | FGOVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.13 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 0.90 | +0.02 |
| Martin ratioReturn relative to average drawdown | 2.22 | 2.22 | 0.00 |
Loading charts...
Drawdowns
FVIIX vs. FGOVX - Drawdown Comparison
The maximum FVIIX drawdown since its inception was -20.08%, roughly equal to the maximum FGOVX drawdown of -19.93%. Use the drawdown chart below to compare losses from any high point for FVIIX and FGOVX.
Loading charts...
Drawdown Indicators
| FVIIX | FGOVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.08% | -19.93% | -0.15% |
Max Drawdown (1Y)Largest decline over 1 year | -2.95% | -3.06% | +0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -5.29% | -5.19% | -0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -18.13% | -18.00% | -0.13% |
Max Drawdown (10Y)Largest decline over 10 years | -20.08% | -19.93% | -0.15% |
Current DrawdownCurrent decline from peak | -8.03% | -7.54% | -0.49% |
Average DrawdownAverage peak-to-trough decline | -3.78% | -3.94% | +0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 1.23% | -0.02% |
Volatility
FVIIX vs. FGOVX - Volatility Comparison
The current volatility for Fidelity Advisor Government Income Fund Class I (FVIIX) is 0.84%, while Fidelity Government Income Fund (FGOVX) has a volatility of 0.95%. This indicates that FVIIX experiences smaller price fluctuations and is considered to be less risky than FGOVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FVIIX | FGOVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 0.95% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.74% | 2.90% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.59% | 3.72% | -0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.07% | 6.09% | -0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.02% | 5.04% | -0.02% |
FVIIX vs. FGOVX - Expense Ratio Comparison
FVIIX has a 0.49% expense ratio, which is higher than FGOVX's 0.45% expense ratio.
Dividends
FVIIX vs. FGOVX - Dividend Comparison
FVIIX's dividend yield for the trailing twelve months is around 3.21%, which matches FGOVX's 3.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FGOVX Fidelity Government Income Fund | 3.24% | 3.37% | 3.20% | 2.57% | 1.13% | 0.60% | 2.39% | 2.10% | 2.08% | 1.81% | 2.69% | 2.25% |
FVIIX Fidelity Advisor Government Income Fund Class I | 3.21% | 3.33% | 3.18% | 2.29% | 1.09% | 0.58% | 2.35% | 2.07% | 2.02% | 1.75% | 2.64% | 2.21% |
Frequently Asked Questions
With a correlation of 0.93, FVIIX and FGOVX 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.
FGOVX has higher volatility (0.95%) compared to FVIIX (0.84%). In terms of maximum drawdown, FVIIX dropped -20.08% vs FGOVX's -19.93%.
FVIIX currently has the higher Sharpe Ratio (0.76 vs 0.74), 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.
Find the right allocation for FVIIX and FGOVX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer