IVV vs. FNBGX
IVV (iShares Core S&P 500 ETF) and FNBGX (Fidelity Long-Term Treasury Bond Index Fund) are both funds - IVV is a S&P 500 fund tracking the S&P 500 Index, while FNBGX is a Government Bonds fund managed by Fidelity. Over the past 5 years, IVV returned 13.42%/yr vs -5.63%/yr for FNBGX. At a correlation of -0.08, they often move in opposite directions. Both charge a 0.03% expense ratio.
Performance
IVV vs. FNBGX - Performance Comparison
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Returns By Period
In the year-to-date period, IVV achieves a 9.08% return, which is significantly higher than FNBGX's 0.13% return.
IVV
- 1D
- 0.55%
- 1M
- -0.85%
- YTD
- 9.08%
- 6M
- 9.43%
- 1Y
- 25.77%
- 3Y*
- 20.95%
- 5Y*
- 13.42%
- 10Y*
- 15.47%
FNBGX
- 1D
- 1.10%
- 1M
- 2.94%
- YTD
- 0.13%
- 6M
- 0.69%
- 1Y
- 4.58%
- 3Y*
- -0.54%
- 5Y*
- -5.63%
- 10Y*
- —
IVV vs. FNBGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IVV iShares Core S&P 500 ETF | 9.08% | 17.85% | 24.93% | 26.31% | -18.16% | 28.76% | 18.40% | 31.07% | -4.49% | 4.93% |
FNBGX Fidelity Long-Term Treasury Bond Index Fund | 0.13% | 5.30% | -6.18% | 3.20% | -29.89% | -5.17% | 17.58% | 14.24% | -1.62% | 1.86% |
Correlation
The correlation between IVV and FNBGX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2017 | -0.08 |
The correlation between IVV and FNBGX shifts across timeframes, from -0.08 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IVV vs. FNBGX — Risk / Return Rank
IVV
FNBGX
IVV vs. FNBGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 ETF (IVV) and Fidelity Long-Term Treasury Bond Index Fund (FNBGX). 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.
| IVV | FNBGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.48 | ||
| Sortino ratioReturn per unit of downside risk | +1.89 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.09 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.76 | 0.63 | +2.12 |
| Martin ratioReturn relative to average drawdown | 12.43 | 1.62 | +10.82 |
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Drawdowns
IVV vs. FNBGX - Drawdown Comparison
The maximum IVV drawdown since its inception was -55.25%, which is greater than FNBGX's maximum drawdown of -46.86%. Use the drawdown chart below to compare losses from any high point for IVV and FNBGX.
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Drawdown Indicators
| IVV | FNBGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.25% | -46.86% | -8.39% |
Max Drawdown (1Y)Largest decline over 1 year | -8.89% | -7.28% | -1.61% |
Max Drawdown (3Y)Largest decline over 3 years | -18.75% | -17.66% | -1.09% |
Max Drawdown (5Y)Largest decline over 5 years | -24.53% | -41.54% | +17.01% |
Max Drawdown (10Y)Largest decline over 10 years | -33.90% | — | — |
Current DrawdownCurrent decline from peak | -2.35% | -37.17% | +34.82% |
Average DrawdownAverage peak-to-trough decline | -10.77% | -21.69% | +10.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 2.84% | -0.87% |
Volatility
IVV vs. FNBGX - Volatility Comparison
iShares Core S&P 500 ETF (IVV) has a higher volatility of 4.37% compared to Fidelity Long-Term Treasury Bond Index Fund (FNBGX) at 2.73%. This indicates that IVV's price experiences larger fluctuations and is considered to be riskier than FNBGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVV | FNBGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.37% | 2.73% | +1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 9.59% | 6.17% | +3.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.28% | 8.87% | +3.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.95% | 14.58% | +2.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.08% | 14.19% | +3.89% |
IVV vs. FNBGX - Expense Ratio Comparison
Both IVV and FNBGX have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IVV vs. FNBGX - Dividend Comparison
IVV's dividend yield for the trailing twelve months is around 1.08%, less than FNBGX's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNBGX Fidelity Long-Term Treasury Bond Index Fund | 3.99% | 3.88% | 3.75% | 3.20% | 2.26% | 2.47% | 3.96% | 2.63% | 2.93% | 0.70% | 0.00% | 0.00% |
IVV iShares Core S&P 500 ETF | 1.08% | 1.17% | 1.30% | 1.44% | 1.66% | 1.20% | 1.57% | 1.85% | 2.21% | 1.75% | 2.01% | 2.27% |
Frequently Asked Questions
IVV and FNBGX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVV has higher volatility (4.37%) compared to FNBGX (2.73%). In terms of maximum drawdown, IVV dropped -55.25% vs FNBGX's -46.86%.
IVV currently has the higher Sharpe Ratio (2.00 vs 0.52), 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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