FXNAX vs. GLRY

Last updated Jun 13, 2026

FXNAX (Fidelity U.S. Bond Index Fund) and GLRY (Inspire Faithward Mid Cap Momentum ESG ETF) are both funds - FXNAX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while GLRY is a Momentum fund actively managed by Inspire. FXNAX is passively managed, while GLRY is actively managed. Over the past 5 years, FXNAX returned -0.02%/yr vs 9.15%/yr for GLRY. At a 0.11 correlation, their price movements are largely independent. FXNAX charges 0.03%/yr vs 0.85%/yr for GLRY.

Performance

FXNAX vs. GLRY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity U.S. Bond Index Fund (FXNAX) and Inspire Faithward Mid Cap Momentum ESG ETF (GLRY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXNAX achieves a 0.50% return, which is significantly lower than GLRY's 18.93% return.

FXNAX

• 1D: 0.58%
• 1M: 0.51%
• YTD: 0.50%
• 6M: 1.01%
• 1Y: 4.66%
• 3Y*: 4.05%
• 5Y*: -0.02%
• 10Y*: 1.48%

GLRY

• 1D: 0.94%
• 1M: 3.64%
• YTD: 18.93%
• 6M: 17.74%
• 1Y: 30.96%
• 3Y*: 20.53%
• 5Y*: 9.15%
• 10Y*: —

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

FXNAX vs. GLRY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FXNAX Fidelity U.S. Bond Index Fund	0.50%	7.14%	1.35%	5.82%	-13.55%	-2.10%	0.32%
GLRY Inspire Faithward Mid Cap Momentum ESG ETF	18.93%	16.50%	16.59%	19.58%	-22.50%	15.97%	4.64%

Correlation

The correlation between FXNAX and GLRY is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (All Time) Calculated using the full available price history since Dec 8, 2020	0.11

The correlation between FXNAX and GLRY shifts across timeframes, from 0.11 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FXNAX vs. GLRY — Risk / Return Rank

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

FXNAX

FXNAX Risk / Return Rank: 30
FXNAX Sharpe Ratio Rank: 31
FXNAX Sortino Ratio Rank: 34
FXNAX Omega Ratio Rank: 30
FXNAX Calmar Ratio Rank: 31
FXNAX Martin Ratio Rank: 26

GLRY

GLRY Risk / Return Rank: 58
GLRY Sharpe Ratio Rank: 55
GLRY Sortino Ratio Rank: 53
GLRY Omega Ratio Rank: 54
GLRY Calmar Ratio Rank: 65
GLRY Martin Ratio Rank: 62

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.

FXNAX vs. GLRY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. Bond Index Fund (FXNAX) and Inspire Faithward Mid Cap Momentum ESG ETF (GLRY). 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.

	FXNAX	GLRY	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.65	-0.38
Sortino ratio: Return per unit of downside risk	1.93	2.27	-0.34
Omega ratio: Gain probability vs. loss probability	1.23	1.30	-0.07
Calmar ratio: Return relative to maximum drawdown	1.69	2.86	-1.16
Martin ratio: Return relative to average drawdown	4.97	9.87	-4.89

FXNAX vs. GLRY - Sharpe Ratio Comparison

The current FXNAX Sharpe Ratio is 1.27, which is comparable to the GLRY Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of FXNAX and GLRY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FXNAX vs. GLRY - Drawdown Comparison

The maximum FXNAX drawdown since its inception was -19.51%, smaller than the maximum GLRY drawdown of -40.60%. Use the drawdown chart below to compare losses from any high point for FXNAX and GLRY.

Drawdown Indicators

	FXNAX	GLRY	Difference
Max Drawdown Largest peak-to-trough decline	-19.51%	-40.60%	+21.09%
Max Drawdown (1Y) Largest decline over 1 year	-2.94%	-10.89%	+7.95%
Max Drawdown (3Y) Largest decline over 3 years	-6.16%	-20.50%	+14.34%
Max Drawdown (5Y) Largest decline over 5 years	-18.54%	-34.63%	+16.09%
Max Drawdown (10Y) Largest decline over 10 years	-19.51%	—	—
Current Drawdown Current decline from peak	-2.79%	0.00%	-2.79%
Average Drawdown Average peak-to-trough decline	-3.86%	-15.95%	+12.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.00%	3.15%	-2.15%

Volatility

FXNAX vs. GLRY - Volatility Comparison

The current volatility for Fidelity U.S. Bond Index Fund (FXNAX) is 1.41%, while Inspire Faithward Mid Cap Momentum ESG ETF (GLRY) has a volatility of 7.15%. This indicates that FXNAX experiences smaller price fluctuations and is considered to be less risky than GLRY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXNAX	GLRY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	7.15%	-5.74%
Volatility (6M) Calculated over the trailing 6-month period	2.87%	15.87%	-13.00%
Volatility (1Y) Calculated over the trailing 1-year period	3.93%	18.81%	-14.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.08%	20.14%	-14.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.01%	21.45%	-16.44%

FXNAX vs. GLRY - Expense Ratio Comparison

FXNAX has a 0.03% expense ratio, which is lower than GLRY's 0.85% expense ratio.

Dividends

FXNAX vs. GLRY - Dividend Comparison

FXNAX's dividend yield for the trailing twelve months is around 3.70%, more than GLRY's 0.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXNAX Fidelity U.S. Bond Index Fund	3.70%	3.58%	3.40%	3.15%	1.81%	1.74%	2.92%	2.68%	2.74%	2.57%	2.76%	2.52%
GLRY Inspire Faithward Mid Cap Momentum ESG ETF	0.23%	0.34%	0.52%	1.07%	1.04%	4.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FXNAX and GLRY in my portfolio?

FXNAX and GLRY have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXNAX or GLRY?

GLRY has higher volatility (7.15%) compared to FXNAX (1.41%). In terms of maximum drawdown, FXNAX dropped -19.51% vs GLRY's -40.60%.

Which has better risk-adjusted returns?

GLRY currently has the higher Sharpe Ratio (1.65 vs 1.27), 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.