MIIBX vs. FUMBX
MIIBX (Madison High Quality Bond Fund) and FUMBX (Fidelity Short-Term Treasury Bond Index Fund) are both Short-Term Bond funds. Over the past 5 years, MIIBX returned 1.01%/yr vs 1.33%/yr for FUMBX. Their correlation of 0.82 suggests significant overlap in exposure. MIIBX charges 0.50%/yr vs 0.03%/yr for FUMBX.
Performance
MIIBX vs. FUMBX - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with MIIBX at -0.01% and FUMBX at -0.01%.
MIIBX
- 1D
- 0.10%
- 1M
- 0.29%
- YTD
- -0.01%
- 6M
- 0.02%
- 1Y
- 2.53%
- 3Y*
- 4.03%
- 5Y*
- 1.01%
- 10Y*
- 1.36%
FUMBX
- 1D
- 0.10%
- 1M
- 0.26%
- YTD
- -0.01%
- 6M
- 0.34%
- 1Y
- 2.69%
- 3Y*
- 4.07%
- 5Y*
- 1.33%
- 10Y*
- —
MIIBX vs. FUMBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MIIBX Madison High Quality Bond Fund | -0.01% | 6.21% | 2.74% | 4.55% | -7.13% | -1.76% | 4.50% | 4.54% | 0.91% | -0.19% |
FUMBX Fidelity Short-Term Treasury Bond Index Fund | -0.01% | 5.83% | 3.25% | 4.47% | -5.84% | -1.38% | 4.22% | 4.19% | 1.47% | -0.33% |
Correlation
The correlation between MIIBX and FUMBX is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2017 | 0.82 |
The correlation between MIIBX and FUMBX has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.
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Return for Risk
MIIBX vs. FUMBX — Risk / Return Rank
MIIBX
FUMBX
MIIBX vs. FUMBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Madison High Quality Bond Fund (MIIBX) 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.
| MIIBX | FUMBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.27 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 1.82 | -0.27 |
| Martin ratioReturn relative to average drawdown | 4.31 | 5.33 | -1.02 |
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Drawdowns
MIIBX vs. FUMBX - Drawdown Comparison
The maximum MIIBX drawdown since its inception was -11.12%, which is greater than FUMBX's maximum drawdown of -8.83%. Use the drawdown chart below to compare losses from any high point for MIIBX and FUMBX.
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Drawdown Indicators
| MIIBX | FUMBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.12% | -8.83% | -2.29% |
Max Drawdown (1Y)Largest decline over 1 year | -1.70% | -1.54% | -0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -2.33% | -1.57% | -0.76% |
Max Drawdown (5Y)Largest decline over 5 years | -10.69% | -8.60% | -2.09% |
Max Drawdown (10Y)Largest decline over 10 years | -11.12% | — | — |
Current DrawdownCurrent decline from peak | -1.13% | -0.96% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -1.25% | -1.85% | +0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 0.52% | +0.09% |
Volatility
MIIBX vs. FUMBX - Volatility Comparison
The current volatility for Madison High Quality Bond Fund (MIIBX) is 0.65%, while Fidelity Short-Term Treasury Bond Index Fund (FUMBX) has a volatility of 0.71%. This indicates that MIIBX experiences smaller price fluctuations and is considered to be less risky 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
| MIIBX | FUMBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | 0.71% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 1.67% | 1.56% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.28% | 2.08% | +0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.53% | 2.93% | +0.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.77% | 2.49% | +0.28% |
MIIBX vs. FUMBX - Expense Ratio Comparison
MIIBX has a 0.50% expense ratio, which is higher than FUMBX's 0.03% expense ratio.
Dividends
MIIBX vs. FUMBX - Dividend Comparison
MIIBX's dividend yield for the trailing twelve months is around 3.47%, less than FUMBX's 3.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FUMBX Fidelity Short-Term Treasury Bond Index Fund | 3.77% | 3.51% | 2.91% | 1.64% | 0.86% | 1.15% | 1.41% | 1.88% | 1.64% | 0.34% | 0.00% | 0.00% |
MIIBX Madison High Quality Bond Fund | 3.47% | 3.34% | 3.02% | 2.17% | 1.23% | 1.54% | 1.28% | 1.87% | 1.73% | 1.41% | 1.23% | 1.35% |
Frequently Asked Questions
MIIBX and FUMBX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FUMBX has higher volatility (0.71%) compared to MIIBX (0.65%). In terms of maximum drawdown, MIIBX dropped -11.12% vs FUMBX's -8.83%.
FUMBX currently has the higher Sharpe Ratio (1.35 vs 1.17), 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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