IBHI vs. FSPGX

Last updated Jun 16, 2026

IBHI (iShares iBonds 2029 Term High Yield and Income ETF) and FSPGX (Fidelity Large Cap Growth Index Fund) are both funds - IBHI is a High Yield Bonds fund tracking the Bloomberg 2029 Term High Yield and Income Index - Benchmark TR Gross, while FSPGX is a Large Cap Growth Equities fund managed by Fidelity. Over the past 3 years, IBHI returned 8.77%/yr vs 22.52%/yr for FSPGX. A 0.59 correlation means they provide meaningful diversification when combined. IBHI charges 0.35%/yr vs 0.04%/yr for FSPGX.

Performance

IBHI vs. FSPGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds 2029 Term High Yield and Income ETF (IBHI) and Fidelity Large Cap Growth Index Fund (FSPGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBHI achieves a 1.69% return, which is significantly lower than FSPGX's 3.00% return.

IBHI

• 1D: 0.21%
• 1M: 0.88%
• YTD: 1.69%
• 6M: 2.26%
• 1Y: 7.17%
• 3Y*: 8.77%
• 5Y*: —
• 10Y*: —

FSPGX

• 1D: 0.02%
• 1M: -2.20%
• YTD: 3.00%
• 6M: 4.01%
• 1Y: 20.62%
• 3Y*: 22.52%
• 5Y*: 14.08%
• 10Y*: —

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

IBHI vs. FSPGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IBHI iShares iBonds 2029 Term High Yield and Income ETF	1.69%	7.88%	8.33%	14.21%	-8.52%
FSPGX Fidelity Large Cap Growth Index Fund	3.00%	18.54%	33.27%	42.77%	-16.09%

Correlation

The correlation between IBHI and FSPGX is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (All Time) Calculated using the full available price history since Mar 10, 2022	0.59

The correlation between IBHI and FSPGX has been stable across timeframes, ranging from 0.51 to 0.59 - a consistent structural relationship.

Return for Risk

IBHI vs. FSPGX — Risk / Return Rank

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

IBHI

IBHI Risk / Return Rank: 70
IBHI Sharpe Ratio Rank: 61
IBHI Sortino Ratio Rank: 70
IBHI Omega Ratio Rank: 64
IBHI Calmar Ratio Rank: 73
IBHI Martin Ratio Rank: 81

FSPGX

FSPGX Risk / Return Rank: 20
FSPGX Sharpe Ratio Rank: 23
FSPGX Sortino Ratio Rank: 21
FSPGX Omega Ratio Rank: 22
FSPGX Calmar Ratio Rank: 16
FSPGX Martin Ratio Rank: 17

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.

IBHI vs. FSPGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2029 Term High Yield and Income ETF (IBHI) and Fidelity Large Cap Growth Index Fund (FSPGX). 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.

	IBHI	FSPGX	Difference
Sharpe ratio: Return per unit of total volatility	1.89	1.20	+0.69
Sortino ratio: Return per unit of downside risk	2.90	1.68	+1.22
Omega ratio: Gain probability vs. loss probability	1.36	1.21	+0.14
Calmar ratio: Return relative to maximum drawdown	3.41	1.19	+2.23
Martin ratio: Return relative to average drawdown	14.91	3.92	+11.00

IBHI vs. FSPGX - Sharpe Ratio Comparison

The current IBHI Sharpe Ratio is 1.89, which is higher than the FSPGX Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of IBHI and FSPGX, 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

IBHI vs. FSPGX - Drawdown Comparison

The maximum IBHI drawdown since its inception was -13.65%, smaller than the maximum FSPGX drawdown of -32.66%. Use the drawdown chart below to compare losses from any high point for IBHI and FSPGX.

Drawdown Indicators

	IBHI	FSPGX	Difference
Max Drawdown Largest peak-to-trough decline	-13.65%	-32.66%	+19.01%
Max Drawdown (1Y) Largest decline over 1 year	-2.11%	-16.17%	+14.06%
Max Drawdown (3Y) Largest decline over 3 years	-5.73%	-23.32%	+17.59%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.66%	—
Current Drawdown Current decline from peak	0.00%	-5.51%	+5.51%
Average Drawdown Average peak-to-trough decline	-2.82%	-6.36%	+3.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	4.89%	-4.41%

Volatility

IBHI vs. FSPGX - Volatility Comparison

The current volatility for iShares iBonds 2029 Term High Yield and Income ETF (IBHI) is 0.97%, while Fidelity Large Cap Growth Index Fund (FSPGX) has a volatility of 5.42%. This indicates that IBHI experiences smaller price fluctuations and is considered to be less risky than FSPGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBHI	FSPGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	5.42%	-4.45%
Volatility (6M) Calculated over the trailing 6-month period	2.80%	12.42%	-9.62%
Volatility (1Y) Calculated over the trailing 1-year period	3.82%	15.96%	-12.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.95%	21.56%	-13.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.95%	21.56%	-13.61%

IBHI vs. FSPGX - Expense Ratio Comparison

IBHI has a 0.35% expense ratio, which is higher than FSPGX's 0.04% expense ratio.

Dividends

IBHI vs. FSPGX - Dividend Comparison

IBHI's dividend yield for the trailing twelve months is around 6.68%, more than FSPGX's 0.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSPGX Fidelity Large Cap Growth Index Fund	0.33%	0.34%	0.37%	0.73%	0.86%	2.22%	1.76%	1.04%	1.32%	0.22%
IBHI iShares iBonds 2029 Term High Yield and Income ETF	6.68%	6.79%	6.66%	6.48%	5.26%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBHI and FSPGX in my portfolio?

IBHI and FSPGX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBHI or FSPGX?

FSPGX has higher volatility (5.42%) compared to IBHI (0.97%). In terms of maximum drawdown, IBHI dropped -13.65% vs FSPGX's -32.66%.

Which has better risk-adjusted returns?

IBHI currently has the higher Sharpe Ratio (1.89 vs 1.20), 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.