MGF vs. FUMBX
MGF (MFS Government Markets Income Trust) and FUMBX (Fidelity Short-Term Treasury Bond Index Fund) are both mutual funds - MGF is a Government Bonds fund managed by MFS, while FUMBX is a Short-Term Bond fund tracking the Bloomberg U.S. 1-5 Year Treasury Bond Index. Over the past 5 years, MGF returned -1.39%/yr vs 1.26%/yr for FUMBX. Their 0.26 correlation means their historical movements had little consistent relationship. MGF charges 0.02%/yr vs 0.03%/yr for FUMBX.
Performance
MGF vs. FUMBX - Performance Comparison
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Returns By Period
In the year-to-date period, MGF achieves a -2.79% return, which is significantly lower than FUMBX's 0.15% return.
MGF
- 1D
- 0.00%
- 1M
- -1.39%
- 6M
- -3.88%
- YTD
- -2.79%
- 1Y
- -1.49%
- 3Y*
- 3.13%
- 5Y*
- -1.39%
- 10Y*
- 1.11%
- ALL TIME*
- 2.22%
FUMBX
- 1D
- 0.00%
- 1M
- -0.29%
- 6M
- -0.01%
- YTD
- 0.15%
- 1Y
- 1.98%
- 3Y*
- 4.11%
- 5Y*
- 1.26%
- 10Y*
- —
- ALL TIME*
- 1.76%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $174.87K | $200.97K | $288.87K |
MGF vs. FUMBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGF MFS Government Markets Income Trust | -2.79% | 6.24% | 4.17% | 3.78% | -15.81% | -0.22% | 7.80% | 10.32% | 1.33% | -1.59% |
FUMBX Fidelity Short-Term Treasury Bond Index Fund | 0.15% | 5.83% | 3.25% | 4.47% | -5.84% | -1.38% | 4.22% | 4.19% | 1.47% | -0.33% |
Correlation
The correlation between MGF and FUMBX is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (3Y) Balances recent behavior with more history. | 0.33 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.33 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2017 | 0.26 |
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Return for Risk
MGF vs. FUMBX — Risk / Return Rank
MGF
FUMBX
MGF vs. FUMBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Government Markets Income Trust (MGF) and Fidelity Short-Term Treasury Bond Index Fund (FUMBX). 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.
| MGF | FUMBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.50 | ||
| Sortino ratioReturn per unit of downside risk | -2.23 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.28 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | 1.84 | -2.03 |
| Martin ratioReturn relative to average drawdown | -0.36 | 4.96 | -5.32 |
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Drawdowns
MGF vs. FUMBX - Drawdown Comparison
The maximum MGF drawdown since its inception was -35.74%, which is greater than FUMBX's maximum drawdown of -8.83%. Use the drawdown chart below to compare losses from any high point for MGF and FUMBX.
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Drawdown Indicators
| MGF | FUMBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.74% | -8.83% | -26.91% |
Max Drawdown (1Y)Largest decline over 1 year | -6.13% | -1.54% | -4.59% |
Max Drawdown (3Y)Largest decline over 3 years | -8.69% | -1.57% | -7.12% |
Max Drawdown (5Y)Largest decline over 5 years | -22.88% | -8.60% | -14.28% |
Max Drawdown (10Y)Largest decline over 10 years | -22.88% | — | — |
Current DrawdownCurrent decline from peak | -7.49% | -0.81% | -6.68% |
Average DrawdownAverage peak-to-trough decline | -10.86% | -1.84% | -9.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 0.57% | +2.69% |
Volatility
MGF vs. FUMBX - Volatility Comparison
MFS Government Markets Income Trust (MGF) has a higher volatility of 2.50% compared to Fidelity Short-Term Treasury Bond Index Fund (FUMBX) at 0.53%. This indicates that MGF's price experiences larger fluctuations and is considered to be riskier than FUMBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGF | FUMBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 0.53% | +1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 8.39% | 1.62% | +6.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.48% | 2.05% | +8.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.40% | 2.93% | +8.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.23% | 2.48% | +7.75% |
MGF vs. FUMBX - Expense Ratio Comparison
MGF has a 0.02% expense ratio, which is lower than FUMBX's 0.03% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
MGF vs. FUMBX - Dividend Comparison
MGF's dividend yield for the trailing twelve months is around 8.17%, more than FUMBX's 3.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FUMBX Fidelity Short-Term Treasury Bond Index Fund | 3.56% | 3.51% | 2.91% | 1.64% | 0.86% | 1.15% | 1.41% | 1.88% | 1.64% | 0.34% | 0.00% | 0.00% |
MGF MFS Government Markets Income Trust | 8.17% | 7.65% | 7.81% | 7.82% | 8.45% | 7.71% | 7.58% | 7.50% | 7.81% | 7.92% | 8.09% | 8.05% |
Frequently Asked Questions
MGF and FUMBX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGF has higher volatility (2.50%) compared to FUMBX (0.53%). In terms of maximum drawdown, MGF dropped -35.74% vs FUMBX's -8.83%.
FUMBX currently has the higher Sharpe Ratio (1.38 vs -0.11), 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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