QCILIX vs. FFNYX

Last updated Jun 4, 2026

QCILIX (CREF Inflation-Linked Bond Account Class R3) and FFNYX (Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund) are both Inflation-Protected Bonds funds - QCILIX tracks the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 1-10 Year Index while FFNYX tracks the Bloomberg US Treasury 0-5 Year TIPS Index. Both are passively managed. Their correlation of 0.84 suggests significant overlap in exposure. QCILIX charges 0.19%/yr vs 0.05%/yr for FFNYX.

Performance

QCILIX vs. FFNYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CREF Inflation-Linked Bond Account Class R3 (QCILIX) and Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund (FFNYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QCILIX

• 1D: -0.02%
• 1M: -0.04%
• YTD: 1.79%
• 6M: 1.56%
• 1Y: 5.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FFNYX

• 1D: 0.00%
• 1M: -0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QCILIX vs. FFNYX - Yearly Performance Comparison

	2026 (YTD)
QCILIX CREF Inflation-Linked Bond Account Class R3	0.67%
FFNYX Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund	0.93%

Correlation

The correlation between QCILIX and FFNYX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 17, 2026	0.84

Return for Risk

QCILIX vs. FFNYX — Risk / Return Rank

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

QCILIX

QCILIX Risk / Return Rank: 65
QCILIX Sharpe Ratio Rank: 51
QCILIX Sortino Ratio Rank: 61
QCILIX Omega Ratio Rank: 52
QCILIX Calmar Ratio Rank: 83
QCILIX Martin Ratio Rank: 77

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.

QCILIX vs. FFNYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CREF Inflation-Linked Bond Account Class R3 (QCILIX) and Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund (FFNYX). 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.

	QCILIX	FFNYX	Difference
Sharpe ratio: Return per unit of total volatility	2.11	—	—
Sortino ratio: Return per unit of downside risk	3.30	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	3.86	—	—
Martin ratio: Return relative to average drawdown	14.48	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	QCILIX	FFNYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.26	2.37	-0.10

Drawdowns

QCILIX vs. FFNYX - Drawdown Comparison

The maximum QCILIX drawdown since its inception was -2.14%, which is greater than FFNYX's maximum drawdown of -0.69%. Use the drawdown chart below to compare losses from any high point for QCILIX and FFNYX.

Drawdown Indicators

	QCILIX	FFNYX	Difference
Max Drawdown Largest peak-to-trough decline	-2.14%	-0.69%	-1.45%
Max Drawdown (1Y) Largest decline over 1 year	-1.33%	—	—
Current Drawdown Current decline from peak	-0.14%	-0.10%	-0.04%
Average Drawdown Average peak-to-trough decline	-0.32%	-0.18%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	—	—

Volatility

Volatility by Period

	QCILIX	FFNYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.77%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.69%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.45%	1.89%	+0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.95%	1.89%	+1.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.95%	1.89%	+1.06%

QCILIX vs. FFNYX - Expense Ratio Comparison

QCILIX has a 0.19% expense ratio, which is higher than FFNYX's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

QCILIX vs. FFNYX - Dividend Comparison

QCILIX has not paid dividends to shareholders, while FFNYX's dividend yield for the trailing twelve months is around 0.04%.

Position	TTM
FFNYX Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund	0.04%
QCILIX CREF Inflation-Linked Bond Account Class R3	0.00%

Frequently Asked Questions

Can I hold both QCILIX and FFNYX in my portfolio?

QCILIX and FFNYX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.