MFGSX vs. FNBGX
MFGSX (MFS Government Securities Fund) and FNBGX (Fidelity Long-Term Treasury Bond Index Fund) are both Government Bonds funds. Over the past 5 years, MFGSX returned -1.31%/yr vs -7.42%/yr for FNBGX. Their correlation of 0.88 means they have usually moved in the same direction. MFGSX charges 0.76%/yr vs 0.03%/yr for FNBGX.
Performance
MFGSX vs. FNBGX - Performance Comparison
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Returns By Period
In the year-to-date period, MFGSX achieves a -1.25% return, which is significantly higher than FNBGX's -3.27% return.
MFGSX
- 1D
- 0.24%
- 1M
- -1.28%
- 6M
- -1.31%
- YTD
- -1.25%
- 1Y
- 0.79%
- 3Y*
- 2.67%
- 5Y*
- -1.31%
- 10Y*
- 0.38%
- ALL TIME*
- 3.51%
FNBGX
- 1D
- 0.34%
- 1M
- -3.50%
- 6M
- -3.07%
- YTD
- -3.27%
- 1Y
- -1.90%
- 3Y*
- -0.16%
- 5Y*
- -7.42%
- 10Y*
- —
- ALL TIME*
- -1.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MFGSX vs. FNBGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MFGSX MFS Government Securities Fund | -1.25% | 6.62% | -0.16% | 3.28% | -12.54% | -2.18% | 6.25% | 6.20% | 0.27% | 0.17% |
FNBGX Fidelity Long-Term Treasury Bond Index Fund | -3.27% | 5.30% | -6.18% | 3.20% | -29.89% | -5.17% | 17.58% | 14.24% | -1.62% | 1.86% |
Correlation
The correlation between MFGSX and FNBGX is 0.89, 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. | 0.89 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2017 | 0.88 |
The correlation between MFGSX and FNBGX has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.
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Return for Risk
MFGSX vs. FNBGX — Risk / Return Rank
MFGSX
FNBGX
MFGSX vs. FNBGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Government Securities Fund (MFGSX) 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.
| MFGSX | FNBGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.97 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.27 | -0.23 | +0.50 |
| Martin ratioReturn relative to average drawdown | 0.63 | -0.51 | +1.14 |
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Drawdowns
MFGSX vs. FNBGX - Drawdown Comparison
The maximum MFGSX drawdown since its inception was -19.50%, smaller than the maximum FNBGX drawdown of -46.86%. Use the drawdown chart below to compare losses from any high point for MFGSX and FNBGX.
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Drawdown Indicators
| MFGSX | FNBGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.50% | -46.86% | +27.36% |
Max Drawdown (1Y)Largest decline over 1 year | -3.39% | -7.38% | +3.99% |
Max Drawdown (3Y)Largest decline over 3 years | -5.67% | -13.48% | +7.81% |
Max Drawdown (5Y)Largest decline over 5 years | -17.96% | -41.54% | +23.58% |
Max Drawdown (10Y)Largest decline over 10 years | -19.50% | — | — |
Current DrawdownCurrent decline from peak | -7.95% | -39.30% | +31.35% |
Average DrawdownAverage peak-to-trough decline | -3.33% | -21.94% | +18.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.44% | 3.32% | -1.88% |
Volatility
MFGSX vs. FNBGX - Volatility Comparison
The current volatility for MFS Government Securities Fund (MFGSX) is 0.97%, while Fidelity Long-Term Treasury Bond Index Fund (FNBGX) has a volatility of 2.31%. This indicates that MFGSX experiences smaller price fluctuations and is considered to be less risky 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
| MFGSX | FNBGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 2.31% | -1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 3.03% | 6.38% | -3.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 8.37% | -4.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 14.46% | -8.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.78% | 14.11% | -9.33% |
MFGSX vs. FNBGX - Expense Ratio Comparison
MFGSX has a 0.76% expense ratio, which is higher than FNBGX's 0.03% expense ratio.
Dividends
MFGSX vs. FNBGX - Dividend Comparison
MFGSX's dividend yield for the trailing twelve months is around 3.32%, less than FNBGX's 3.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNBGX Fidelity Long-Term Treasury Bond Index Fund | 3.81% | 3.88% | 3.75% | 3.20% | 2.26% | 2.47% | 3.96% | 2.63% | 2.93% | 0.70% | 0.00% | 0.00% |
MFGSX MFS Government Securities Fund | 3.32% | 3.47% | 3.13% | 2.51% | 1.19% | 1.03% | 1.83% | 2.11% | 2.32% | 2.43% | 2.31% | 2.16% |
Frequently Asked Questions
MFGSX and FNBGX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNBGX has higher volatility (2.31%) compared to MFGSX (0.97%). In terms of maximum drawdown, MFGSX dropped -19.50% vs FNBGX's -46.86%.
MFGSX currently has the higher Sharpe Ratio (0.24 vs -0.20), 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.
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