MXBIX vs. FSMOX

Last updated Jun 5, 2026

MXBIX (Great-West Bond Index Fund) and FSMOX (Fidelity SAI Investment Grade Securitized Fund) are both Intermediate Core Bond funds. Over the past 3 years, MXBIX returned 3.46%/yr vs 4.13%/yr for FSMOX. Their correlation of 0.89 suggests significant overlap in exposure. MXBIX charges 0.50%/yr vs 0.33%/yr for FSMOX.

Performance

MXBIX vs. FSMOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Great-West Bond Index Fund (MXBIX) and Fidelity SAI Investment Grade Securitized Fund (FSMOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXBIX achieves a 0.08% return, which is significantly lower than FSMOX's 0.77% return.

MXBIX

• 1D: -0.15%
• 1M: 0.08%
• YTD: 0.08%
• 6M: 0.08%
• 1Y: 4.05%
• 3Y*: 3.46%
• 5Y*: -0.50%
• 10Y*: 0.94%

FSMOX

• 1D: -0.20%
• 1M: 0.19%
• YTD: 0.77%
• 6M: 1.11%
• 1Y: 6.38%
• 3Y*: 4.13%
• 5Y*: —
• 10Y*: —

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

MXBIX vs. FSMOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MXBIX Great-West Bond Index Fund	0.08%	6.62%	0.82%	2.45%
FSMOX Fidelity SAI Investment Grade Securitized Fund	0.77%	8.52%	1.45%	1.16%

Correlation

The correlation between MXBIX and FSMOX is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since May 18, 2023	0.89

The correlation between MXBIX and FSMOX has been stable across timeframes, ranging from 0.83 to 0.89 - a consistent structural relationship.

Return for Risk

MXBIX vs. FSMOX — Risk / Return Rank

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

MXBIX

MXBIX Risk / Return Rank: 21
MXBIX Sharpe Ratio Rank: 21
MXBIX Sortino Ratio Rank: 22
MXBIX Omega Ratio Rank: 20
MXBIX Calmar Ratio Rank: 23
MXBIX Martin Ratio Rank: 20

FSMOX

FSMOX Risk / Return Rank: 39
FSMOX Sharpe Ratio Rank: 37
FSMOX Sortino Ratio Rank: 41
FSMOX Omega Ratio Rank: 36
FSMOX Calmar Ratio Rank: 43
FSMOX Martin Ratio Rank: 37

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.

MXBIX vs. FSMOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West Bond Index Fund (MXBIX) and Fidelity SAI Investment Grade Securitized Fund (FSMOX). 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.

	MXBIX	FSMOX	Difference
Sharpe ratio: Return per unit of total volatility	1.29	1.73	-0.44
Sortino ratio: Return per unit of downside risk	1.92	2.63	-0.71
Omega ratio: Gain probability vs. loss probability	1.23	1.31	-0.08
Calmar ratio: Return relative to maximum drawdown	1.72	2.46	-0.74
Martin ratio: Return relative to average drawdown	5.08	7.96	-2.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXBIX vs. FSMOX - Sharpe Ratio Comparison

The current MXBIX Sharpe Ratio is 1.29, which is comparable to the FSMOX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of MXBIX and FSMOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MXBIX	FSMOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.29	1.73	-0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.08	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.19	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.63	-0.54

Drawdowns

MXBIX vs. FSMOX - Drawdown Comparison

The maximum MXBIX drawdown since its inception was -19.74%, which is greater than FSMOX's maximum drawdown of -8.65%. Use the drawdown chart below to compare losses from any high point for MXBIX and FSMOX.

Drawdown Indicators

	MXBIX	FSMOX	Difference
Max Drawdown Largest peak-to-trough decline	-19.74%	-8.65%	-11.09%
Max Drawdown (1Y) Largest decline over 1 year	-2.87%	-2.84%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-6.35%	-8.47%	+2.12%
Max Drawdown (5Y) Largest decline over 5 years	-18.70%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-19.74%	—	—
Current Drawdown Current decline from peak	-5.48%	-1.36%	-4.12%
Average Drawdown Average peak-to-trough decline	-5.88%	-1.76%	-4.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	0.87%	+0.08%

Volatility

MXBIX vs. FSMOX - Volatility Comparison

The current volatility for Great-West Bond Index Fund (MXBIX) is 1.25%, while Fidelity SAI Investment Grade Securitized Fund (FSMOX) has a volatility of 1.44%. This indicates that MXBIX experiences smaller price fluctuations and is considered to be less risky than FSMOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXBIX	FSMOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.25%	1.44%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	2.61%	2.86%	-0.25%
Volatility (1Y) Calculated over the trailing 1-year period	3.82%	4.04%	-0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.04%	6.20%	-0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.93%	6.20%	-1.27%

MXBIX vs. FSMOX - Expense Ratio Comparison

MXBIX has a 0.50% expense ratio, which is higher than FSMOX's 0.33% expense ratio.

Dividends

MXBIX vs. FSMOX - Dividend Comparison

MXBIX's dividend yield for the trailing twelve months is around 2.77%, less than FSMOX's 4.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSMOX Fidelity SAI Investment Grade Securitized Fund	4.47%	4.44%	5.07%	1.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MXBIX Great-West Bond Index Fund	2.77%	2.78%	2.42%	1.98%	1.32%	1.51%	2.83%	1.06%	1.33%	0.70%

Frequently Asked Questions

Can I hold both MXBIX and FSMOX in my portfolio?

MXBIX and FSMOX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MXBIX or FSMOX?

FSMOX has higher volatility (1.44%) compared to MXBIX (1.25%). In terms of maximum drawdown, MXBIX dropped -19.74% vs FSMOX's -8.65%.

Which has better risk-adjusted returns?

FSMOX currently has the higher Sharpe Ratio (1.73 vs 1.29), 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.