GBF vs. FIKQX
GBF (iShares Government/Credit Bond ETF) and FIKQX (Fidelity Advisor Investment Grade Bond Fund Class Z) are both funds - GBF is a Intermediate Core Bond fund tracking the Bloomberg U.S. Government/Credit Bond Index, while FIKQX is a Total Bond Market fund managed by Fidelity. Over the past 5 years, GBF returned -0.19%/yr vs 0.29%/yr for FIKQX. Their correlation of 0.90 suggests significant overlap in exposure. GBF charges 0.20%/yr vs 0.36%/yr for FIKQX.
Performance
GBF vs. FIKQX - Performance Comparison
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Returns By Period
In the year-to-date period, GBF achieves a 0.35% return, which is significantly higher than FIKQX's 0.24% return.
GBF
- 1D
- 0.13%
- 1M
- 0.21%
- YTD
- 0.35%
- 6M
- 0.18%
- 1Y
- 4.02%
- 3Y*
- 3.64%
- 5Y*
- -0.19%
- 10Y*
- 1.51%
FIKQX
- 1D
- -0.14%
- 1M
- 0.06%
- YTD
- 0.24%
- 6M
- 0.20%
- 1Y
- 4.49%
- 3Y*
- 4.35%
- 5Y*
- 0.29%
- 10Y*
- —
GBF vs. FIKQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GBF iShares Government/Credit Bond ETF | 0.35% | 6.41% | 0.99% | 5.79% | -13.85% | -2.30% | 8.76% | 9.47% | 2.29% |
FIKQX Fidelity Advisor Investment Grade Bond Fund Class Z | 0.24% | 7.31% | 1.69% | 6.75% | -13.97% | -1.03% | 10.00% | 9.90% | 2.01% |
Correlation
The correlation between GBF and FIKQX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2018 | 0.90 |
The correlation between GBF and FIKQX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.
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Return for Risk
GBF vs. FIKQX — Risk / Return Rank
GBF
FIKQX
GBF vs. FIKQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Government/Credit Bond ETF (GBF) and Fidelity Advisor Investment Grade Bond Fund Class Z (FIKQX). 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.
| GBF | FIKQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.24 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | 1.63 | -0.15 |
| Martin ratioReturn relative to average drawdown | 4.37 | 4.89 | -0.52 |
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
| GBF | FIKQX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 1.30 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | 0.05 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.50 | +0.08 |
Drawdowns
GBF vs. FIKQX - Drawdown Comparison
The maximum GBF drawdown since its inception was -19.67%, which is greater than FIKQX's maximum drawdown of -18.53%. Use the drawdown chart below to compare losses from any high point for GBF and FIKQX.
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Drawdown Indicators
| GBF | FIKQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.67% | -18.53% | -1.14% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -3.13% | +0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -5.78% | -6.05% | +0.27% |
Max Drawdown (5Y)Largest decline over 5 years | -18.45% | -18.53% | +0.08% |
Max Drawdown (10Y)Largest decline over 10 years | -19.67% | — | — |
Current DrawdownCurrent decline from peak | -4.71% | -1.72% | -2.99% |
Average DrawdownAverage peak-to-trough decline | -3.67% | -5.22% | +1.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 1.04% | -0.12% |
Volatility
GBF vs. FIKQX - Volatility Comparison
The current volatility for iShares Government/Credit Bond ETF (GBF) is 1.21%, while Fidelity Advisor Investment Grade Bond Fund Class Z (FIKQX) has a volatility of 1.38%. This indicates that GBF experiences smaller price fluctuations and is considered to be less risky than FIKQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBF | FIKQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 1.38% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.64% | 2.74% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.75% | 3.93% | -0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 6.00% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.28% | 5.48% | -0.20% |
GBF vs. FIKQX - Expense Ratio Comparison
GBF has a 0.20% expense ratio, which is lower than FIKQX's 0.36% expense ratio.
Dividends
GBF vs. FIKQX - Dividend Comparison
GBF's dividend yield for the trailing twelve months is around 3.78%, less than FIKQX's 4.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIKQX Fidelity Advisor Investment Grade Bond Fund Class Z | 4.01% | 3.97% | 4.08% | 3.65% | 2.05% | 1.44% | 4.90% | 2.83% | 1.07% | 0.00% | 0.00% | 0.00% |
GBF iShares Government/Credit Bond ETF | 3.78% | 3.81% | 3.94% | 3.03% | 2.13% | 1.22% | 1.64% | 2.64% | 2.59% | 2.31% | 2.09% | 2.04% |
Frequently Asked Questions
GBF and FIKQX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIKQX has higher volatility (1.38%) compared to GBF (1.21%). In terms of maximum drawdown, GBF dropped -19.67% vs FIKQX's -18.53%.
FIKQX currently has the higher Sharpe Ratio (1.30 vs 1.09), 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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