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SPAXX vs. ICSH
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between SPAXX and ICSH is -0.03. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.


-0.50.00.51.0
Correlation: -0.0

Performance

SPAXX vs. ICSH - Performance Comparison

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

10.00%15.00%20.00%25.00%NovemberDecember2025FebruaryMarchApril
13.56%
26.77%
SPAXX
ICSH

Key characteristics

Sharpe Ratio

SPAXX:

3.22

ICSH:

12.21

Ulcer Index

SPAXX:

0.00%

ICSH:

0.01%

Daily Std Dev

SPAXX:

1.34%

ICSH:

0.45%

Max Drawdown

SPAXX:

0.00%

ICSH:

-3.94%

Current Drawdown

SPAXX:

0.00%

ICSH:

0.00%

Returns By Period

In the year-to-date period, SPAXX achieves a 0.65% return, which is significantly lower than ICSH's 1.53% return. Over the past 10 years, SPAXX has underperformed ICSH with an annualized return of 1.28%, while ICSH has yielded a comparatively higher 2.49% annualized return.


SPAXX

YTD

0.65%

1M

0.00%

6M

1.76%

1Y

4.32%

5Y*

2.31%

10Y*

1.28%

ICSH

YTD

1.53%

1M

0.42%

6M

2.39%

1Y

5.51%

5Y*

2.98%

10Y*

2.49%

*Annualized

Compare stocks, funds, or ETFs

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SPAXX vs. ICSH - Expense Ratio Comparison


Expense ratio chart for ICSH: current value is 0.08%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
ICSH: 0.08%

Risk-Adjusted Performance

SPAXX vs. ICSH — Risk-Adjusted Performance Rank

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

SPAXX

ICSH
The Risk-Adjusted Performance Rank of ICSH is 100100
Overall Rank
The Sharpe Ratio Rank of ICSH is 100100
Sharpe Ratio Rank
The Sortino Ratio Rank of ICSH is 100100
Sortino Ratio Rank
The Omega Ratio Rank of ICSH is 100100
Omega Ratio Rank
The Calmar Ratio Rank of ICSH is 100100
Calmar Ratio Rank
The Martin Ratio Rank of ICSH is 100100
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

SPAXX vs. ICSH - Risk-Adjusted Performance Comparison

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


The chart of Sharpe ratio for SPAXX, currently valued at 3.22, compared to the broader market-1.000.001.002.003.00
SPAXX: 3.22
ICSH: 12.05

The current SPAXX Sharpe Ratio is 3.22, which is lower than the ICSH Sharpe Ratio of 12.21. The chart below compares the historical Sharpe Ratios of SPAXX and ICSH, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio4.006.008.0010.0012.0014.00NovemberDecember2025FebruaryMarchApril
3.22
12.05
SPAXX
ICSH

Dividends

SPAXX vs. ICSH - Dividend Comparison

SPAXX's dividend yield for the trailing twelve months is around 4.56%, less than ICSH's 5.03% yield.


TTM20242023202220212020201920182017201620152014
SPAXX
Fidelity Government Money Market Fund
4.56%4.81%4.68%1.30%0.01%0.26%0.98%0.00%0.00%0.00%0.00%0.00%
ICSH
iShares Ultra Short-Term Bond ETF
5.03%5.24%4.78%1.66%0.42%1.21%2.61%2.20%1.36%0.88%0.54%0.46%

Drawdowns

SPAXX vs. ICSH - Drawdown Comparison

The maximum SPAXX drawdown since its inception was 0.00%, smaller than the maximum ICSH drawdown of -3.94%. Use the drawdown chart below to compare losses from any high point for SPAXX and ICSH. For additional features, visit the drawdowns tool.


-0.08%-0.06%-0.04%-0.02%0.00%NovemberDecember2025FebruaryMarchApril00
SPAXX
ICSH

Volatility

SPAXX vs. ICSH - Volatility Comparison

The current volatility for Fidelity Government Money Market Fund (SPAXX) is 0.00%, while iShares Ultra Short-Term Bond ETF (ICSH) has a volatility of 0.18%. This indicates that SPAXX experiences smaller price fluctuations and is considered to be less risky than ICSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%0.20%0.40%0.60%0.80%NovemberDecember2025FebruaryMarchApril0
0.18%
SPAXX
ICSH