PBFDX vs. FXAIX

Last updated Jun 3, 2026

PBFDX (Payson Total Return Fund) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - PBFDX is a Large Cap Blend Equities fund managed by Payson Funds, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, PBFDX returned 16.91%/yr vs 15.65%/yr for FXAIX. With a 0.96 correlation, they move nearly in lockstep. PBFDX charges 0.82%/yr vs 0.02%/yr for FXAIX.

Performance

PBFDX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Payson Total Return Fund (PBFDX) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBFDX achieves a 12.92% return, which is significantly higher than FXAIX's 11.56% return. Over the past 10 years, PBFDX has outperformed FXAIX with an annualized return of 16.91%, while FXAIX has yielded a comparatively lower 15.65% annualized return.

PBFDX

• 1D: 0.26%
• 1M: 4.07%
• YTD: 12.92%
• 6M: 12.22%
• 1Y: 36.32%
• 3Y*: 24.62%
• 5Y*: 15.29%
• 10Y*: 16.91%

FXAIX

• 1D: 0.27%
• 1M: 5.24%
• YTD: 11.56%
• 6M: 11.94%
• 1Y: 29.57%
• 3Y*: 22.70%
• 5Y*: 14.17%
• 10Y*: 15.65%

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

PBFDX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PBFDX Payson Total Return Fund	12.92%	21.20%	21.77%	25.65%	-14.60%	30.84%	20.49%	31.67%	-1.79%	21.76%
FXAIX Fidelity 500 Index Fund	11.56%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between PBFDX and FXAIX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since May 5, 2011	0.96

The correlation between PBFDX and FXAIX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

PBFDX vs. FXAIX — Risk / Return Rank

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

PBFDX

PBFDX Risk / Return Rank: 70
PBFDX Sharpe Ratio Rank: 76
PBFDX Sortino Ratio Rank: 66
PBFDX Omega Ratio Rank: 60
PBFDX Calmar Ratio Rank: 73
PBFDX Martin Ratio Rank: 77

FXAIX

FXAIX Risk / Return Rank: 75
FXAIX Sharpe Ratio Rank: 77
FXAIX Sortino Ratio Rank: 69
FXAIX Omega Ratio Rank: 69
FXAIX Calmar Ratio Rank: 74
FXAIX Martin Ratio Rank: 84

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.

PBFDX vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Payson Total Return Fund (PBFDX) and Fidelity 500 Index Fund (FXAIX). 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.

	PBFDX	FXAIX	Difference
Sharpe ratio Return per unit of total volatility	2.52	2.55	-0.03
Sortino ratio Return per unit of downside risk	3.40	3.46	-0.06
Omega ratio Gain probability vs. loss probability	1.43	1.46	-0.03
Calmar ratio Return relative to maximum drawdown	3.35	3.39	-0.04
Martin ratio Return relative to average drawdown	14.48	15.86	-1.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PBFDX vs. FXAIX - Sharpe Ratio Comparison

The current PBFDX Sharpe Ratio is 2.52, which is comparable to the FXAIX Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of PBFDX and FXAIX, 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

	PBFDX	FXAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	2.55	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	0.84	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	0.87	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.82	-0.26

Drawdowns

PBFDX vs. FXAIX - Drawdown Comparison

The maximum PBFDX drawdown since its inception was -54.99%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for PBFDX and FXAIX.

Drawdown Indicators

	PBFDX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-54.99%	-33.79%	-21.20%
Max Drawdown (1Y) Largest decline over 1 year	-10.93%	-8.89%	-2.04%
Max Drawdown (3Y) Largest decline over 3 years	-20.83%	-18.76%	-2.07%
Max Drawdown (5Y) Largest decline over 5 years	-22.17%	-24.50%	+2.33%
Max Drawdown (10Y) Largest decline over 10 years	-33.02%	-33.79%	+0.77%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.73%	-3.79%	-2.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	1.90%	+0.63%

Volatility

PBFDX vs. FXAIX - Volatility Comparison

Payson Total Return Fund (PBFDX) has a higher volatility of 3.19% compared to Fidelity 500 Index Fund (FXAIX) at 2.82%. This indicates that PBFDX's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBFDX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	2.82%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	11.31%	8.99%	+2.32%
Volatility (1Y) Calculated over the trailing 1-year period	14.75%	11.88%	+2.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.74%	16.91%	+0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.01%	18.07%	+0.94%

PBFDX vs. FXAIX - Expense Ratio Comparison

PBFDX has a 0.82% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

PBFDX vs. FXAIX - Dividend Comparison

PBFDX's dividend yield for the trailing twelve months is around 1.69%, more than FXAIX's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXAIX Fidelity 500 Index Fund	1.03%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%
PBFDX Payson Total Return Fund	1.69%	1.95%	10.67%	4.68%	2.34%	13.07%	7.59%	0.61%	0.67%	4.98%	1.15%	4.81%

Frequently Asked Questions

Can I hold both PBFDX and FXAIX in my portfolio?

With a correlation of 0.94, PBFDX and FXAIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PBFDX or FXAIX?

PBFDX has higher volatility (3.19%) compared to FXAIX (2.82%). In terms of maximum drawdown, PBFDX dropped -54.99% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FXAIX currently has the higher Sharpe Ratio (2.55 vs 2.52), 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.