GOVT vs. FUTBX
GOVT (iShares U.S. Treasury Bond ETF) and FUTBX (Fidelity SAI U.S. Treasury Bond Index Fund) are both Government Bonds funds. Over the past 5 years, GOVT returned -0.94%/yr vs -1.02%/yr for FUTBX. Their 0.95 correlation means they have historically moved very closely together. GOVT charges 0.05%/yr vs 0.03%/yr for FUTBX.
Performance
GOVT vs. FUTBX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with GOVT having a -0.74% return and FUTBX slightly higher at -0.71%.
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%
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%
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 |
GOVT vs. FUTBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Correlation
The correlation between GOVT and FUTBX 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 GOVT and FUTBX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
GOVT vs. FUTBX — Risk / Return Rank
GOVT
FUTBX
GOVT vs. FUTBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Treasury Bond ETF (GOVT) and Fidelity SAI U.S. Treasury Bond Index Fund (FUTBX). 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.
| GOVT | FUTBX | 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 | 1.09 | 1.10 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | 0.71 | -0.03 |
| Martin ratioReturn relative to average drawdown | 1.61 | 1.68 | -0.06 |
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Drawdowns
GOVT vs. FUTBX - Drawdown Comparison
The maximum GOVT drawdown since its inception was -19.07%, roughly equal to the maximum FUTBX drawdown of -19.69%. Use the drawdown chart below to compare losses from any high point for GOVT and FUTBX.
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Drawdown Indicators
| GOVT | FUTBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.07% | -19.69% | +0.62% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | -3.09% | +0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -4.90% | -4.86% | -0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -16.60% | -17.03% | +0.43% |
Max Drawdown (10Y)Largest decline over 10 years | -19.07% | — | — |
Current DrawdownCurrent decline from peak | -7.75% | -8.34% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -5.27% | -6.97% | +1.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 1.30% | -0.10% |
Volatility
GOVT vs. FUTBX - Volatility Comparison
iShares U.S. Treasury Bond ETF (GOVT) and Fidelity SAI U.S. Treasury Bond Index Fund (FUTBX) have volatilities of 0.95% and 0.92%, 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
| GOVT | FUTBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 0.92% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 2.87% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.55% | 3.73% | -0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 5.80% | +0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.21% | 5.13% | +0.08% |
GOVT vs. FUTBX - Expense Ratio Comparison
GOVT has a 0.05% expense ratio, which is higher than FUTBX's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GOVT vs. FUTBX - Dividend Comparison
GOVT's dividend yield for the trailing twelve months is around 3.63%, more than FUTBX's 3.50% 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, GOVT and FUTBX 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, GOVT dropped -19.07% vs FUTBX's -19.69%.
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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