GVLU vs. FXAIX

Last updated Aug 2, 2026

GVLU (Gotham 1000 Value ETF) and FXAIX (Fidelity 500 Index Fund) are both funds - GVLU is a Mid Cap Value Equities fund actively managed by Gotham, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. GVLU is actively managed, while FXAIX is passively managed. Over the past 3 years, GVLU returned 13.95%/yr vs 19.03%/yr for FXAIX. Their 0.71 correlation means they have sometimes moved together and sometimes differently. GVLU charges 0.51%/yr vs 0.02%/yr for FXAIX.

Performance

GVLU vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gotham 1000 Value ETF (GVLU) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GVLU achieves a 13.03% return, which is significantly higher than FXAIX's 9.35% return.

GVLU

• 1D: -0.51%
• 1M: 3.55%
• 6M: 8.50%
• YTD: 13.03%
• 1Y: 24.88%
• 3Y*: 13.95%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.65%

FXAIX

• 1D: 1.66%
• 1M: -0.56%
• 6M: 7.79%
• YTD: 9.35%
• 1Y: 20.63%
• 3Y*: 19.03%
• 5Y*: 12.68%
• 10Y*: 15.00%
• ALL TIME*: 13.89%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FXAIX Fidelity 500 Index Fund	$0.00	$0.00	$0.00
GVLU Gotham 1000 Value ETF	$120.55K	$132.40K	$131.70K

GVLU vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GVLU Gotham 1000 Value ETF	13.03%	11.24%	11.09%	18.02%	-4.22%
FXAIX Fidelity 500 Index Fund	9.35%	17.84%	25.01%	26.29%	-6.84%

Correlation

The correlation between GVLU and FXAIX is 0.50, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.50
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (All Time) Calculated using the full available price history since Jun 8, 2022	0.71

Over the past year, the correlation between GVLU and FXAIX has dropped to 0.50 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.

Return for Risk

GVLU vs. FXAIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GVLU

GVLU Risk / Return Rank: 79
GVLU Sharpe Ratio Rank: 79
GVLU Sortino Ratio Rank: 84
GVLU Omega Ratio Rank: 75
GVLU Calmar Ratio Rank: 80
GVLU Martin Ratio Rank: 77

FXAIX

FXAIX Risk / Return Rank: 64
FXAIX Sharpe Ratio Rank: 61
FXAIX Sortino Ratio Rank: 58
FXAIX Omega Ratio Rank: 59
FXAIX Calmar Ratio Rank: 65
FXAIX Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GVLU vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gotham 1000 Value ETF (GVLU) and Fidelity 500 Index Fund (FXAIX). 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.

	GVLU	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.43	+0.37
Sortino ratio: Return per unit of downside risk	2.76	2.00	+0.76
Omega ratio: Gain probability vs. loss probability	1.31	1.26	+0.06
Calmar ratio: Return relative to maximum drawdown	2.90	2.06	+0.84
Martin ratio: Return relative to average drawdown	9.72	8.86	+0.86

GVLU vs. FXAIX - Sharpe Ratio Comparison

The current GVLU Sharpe Ratio is 1.80, which is comparable to the FXAIX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of GVLU and FXAIX, 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

GVLU vs. FXAIX - Drawdown Comparison

The maximum GVLU drawdown since its inception was -20.82%, smaller than the maximum FXAIX drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for GVLU and FXAIX.

Drawdown Indicators

	GVLU	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.82%	-33.79%	+12.97%
Max Drawdown (1Y) Largest decline over 1 year	-8.14%	-8.89%	+0.75%
Max Drawdown (3Y) Largest decline over 3 years	-20.82%	-18.76%	-2.06%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.79%	—
Current Drawdown Current decline from peak	-1.37%	-2.11%	+0.74%
Average Drawdown Average peak-to-trough decline	-4.05%	-3.77%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.43%	2.07%	+0.36%

Volatility

GVLU vs. FXAIX - Volatility Comparison

Gotham 1000 Value ETF (GVLU) has a higher volatility of 4.01% compared to Fidelity 500 Index Fund (FXAIX) at 3.44%. This indicates that GVLU's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GVLU	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	3.44%	+0.57%
Volatility (6M) Calculated over the trailing 6-month period	9.44%	10.09%	-0.65%
Volatility (1Y) Calculated over the trailing 1-year period	13.23%	12.86%	+0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.62%	17.03%	+0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.62%	18.07%	-0.45%

GVLU vs. FXAIX - Expense Ratio Comparison

GVLU has a 0.51% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

GVLU vs. FXAIX - Dividend Comparison

GVLU's dividend yield for the trailing twelve months is around 5.70%, more than FXAIX's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXAIX Fidelity 500 Index Fund	1.07%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%
GVLU Gotham 1000 Value ETF	5.70%	6.44%	2.88%	1.62%	0.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GVLU and FXAIX in my portfolio?

GVLU and FXAIX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GVLU or FXAIX?

GVLU has higher volatility (4.01%) compared to FXAIX (3.44%). In terms of maximum drawdown, GVLU dropped -20.82% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

GVLU currently has the higher Sharpe Ratio (1.79 vs 1.43), 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.