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NEAR vs. SPAXX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NEAR vs. SPAXX

Last updated Jun 30, 2026
See Documentation

NEAR (iShares Short Duration Bond Active ETF) and SPAXX (Fidelity Government Money Market Fund) are both funds - NEAR is a Short-Term Bond fund actively managed by iShares, while SPAXX is a Money Market fund actively managed by Fidelity. Both are actively managed. Over the past 5 years, NEAR returned 3.91%/yr vs 1.45%/yr for SPAXX. At a 0.10 correlation, their price movements are largely independent. NEAR charges 0.25%/yr vs 0.42%/yr for SPAXX.

Performance

NEAR vs. SPAXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Short Duration Bond Active ETF (NEAR) and Fidelity Government Money Market Fund (SPAXX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NEAR achieves a 0.96% return, which is significantly lower than SPAXX's 1.37% return.

NEAR

1D
0.01%
1M
0.14%
YTD
0.96%
6M
0.94%
1Y
3.75%
3Y*
5.58%
5Y*
3.91%
10Y*
2.86%

SPAXX

1D
0.00%
1M
0.00%
YTD
1.37%
6M
1.67%
1Y
3.66%
3Y*
2.42%
5Y*
1.45%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

NEAR vs. SPAXX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
NEAR
iShares Short Duration Bond Active ETF		0.96%5.90%5.09%7.42%0.41%-0.02%
SPAXX
Fidelity Government Money Market Fund		1.37%3.96%1.54%0.41%0.00%0.00%

Correlation

The correlation between NEAR and SPAXX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.14

Correlation (3Y)
Calculated over the trailing 3-year period

0.09

Correlation (5Y)
Calculated over the trailing 5-year period

0.10

Correlation (All Time)
Calculated using the full available price history since May 25, 2021

0.10

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Short Duration Bond Active ETF

Fidelity Government Money Market Fund

Often compared with NEAR:
NEAR vs. SGOVNEAR vs. JPSTNEAR vs. MINTNEAR vs. FLOTNEAR vs. SHVNEAR vs. GSYNEAR vs. GSST
Often compared with SPAXX:
SPAXX vs. SGOVSPAXX vs. VMFXXSPAXX vs. SNSXXSPAXX vs. SWVXXSPAXX vs. BILSPAXX vs. BNDSPAXX vs. TFLO

Return for Risk

NEAR vs. SPAXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NEAR
NEAR Risk / Return Rank: 8888
Overall Rank
NEAR Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
NEAR Sortino Ratio Rank: 9494
Sortino Ratio Rank
NEAR Omega Ratio Rank: 9393
Omega Ratio Rank
NEAR Calmar Ratio Rank: 7676
Calmar Ratio Rank
NEAR Martin Ratio Rank: 8585
Martin Ratio Rank
SPAXX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

NEAR vs. SPAXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Short Duration Bond Active ETF (NEAR) and Fidelity Government Money Market Fund (SPAXX). 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.

NEARSPAXXDifference
Sharpe ratioReturn per unit of total volatility
2.73
3.65

-0.92

Sortino ratioReturn per unit of downside risk
4.17

—

—

Omega ratioGain probability vs. loss probability

1.55

—

—

Calmar ratioReturn relative to maximum drawdown

3.32

—

—

Martin ratioReturn relative to average drawdown

15.05

—

—

NEAR vs. SPAXX - Sharpe Ratio Comparison

The current NEAR Sharpe Ratio is 2.73, which is comparable to the SPAXX Sharpe Ratio of 3.65. The chart below compares the historical Sharpe Ratios of NEAR and SPAXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

NEAR vs. SPAXX - Drawdown Comparison

The maximum NEAR drawdown since its inception was -9.61%, which is greater than SPAXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for NEAR and SPAXX.

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Drawdown Indicators

NEARSPAXXDifference

Max Drawdown

Largest peak-to-trough decline

-9.61%

0.00%

-9.61%

Max Drawdown (1Y)

Largest decline over 1 year

-1.13%

0.00%

-1.13%

Max Drawdown (3Y)

Largest decline over 3 years

-1.16%

0.00%

-1.16%

Max Drawdown (5Y)

Largest decline over 5 years

-1.32%

0.00%

-1.32%

Max Drawdown (10Y)

Largest decline over 10 years

-9.61%

—

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-0.16%

0.00%

-0.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.25%

0.00%

+0.25%

Volatility

NEAR vs. SPAXX - Volatility Comparison

iShares Short Duration Bond Active ETF (NEAR) has a higher volatility of 0.49% compared to Fidelity Government Money Market Fund (SPAXX) at 0.28%. This indicates that NEAR's price experiences larger fluctuations and is considered to be riskier than SPAXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NEARSPAXXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.49%

0.28%

+0.21%

Volatility (6M)

Calculated over the trailing 6-month period

1.06%

0.66%

+0.40%

Volatility (1Y)

Calculated over the trailing 1-year period

1.38%

1.03%

+0.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.35%

0.69%

+0.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.50%

0.69%

+1.81%

NEAR vs. SPAXX - Expense Ratio Comparison

NEAR has a 0.25% expense ratio, which is lower than SPAXX's 0.42% expense ratio.

Dividends

NEAR vs. SPAXX - Dividend Comparison

NEAR's dividend yield for the trailing twelve months is around 4.43%, more than SPAXX's 3.59% yield.

PositionTTM20252024202320222021202020192018201720162015
NEAR
iShares Short Duration Bond Active ETF		4.43%4.54%5.00%4.59%1.78%0.76%1.53%2.69%2.25%1.52%1.07%0.85%
SPAXX
Fidelity Government Money Market Fund		3.59%3.88%1.53%0.41%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

NEAR and SPAXX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NEAR has higher volatility (0.49%) compared to SPAXX (0.28%). In terms of maximum drawdown, NEAR dropped -9.61% vs SPAXX's 0.00%.

SPAXX currently has the higher Sharpe Ratio (3.65 vs 2.73), 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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