SPXB vs. FAGIX

Last updated Jun 24, 2026

SPXB (ProShares S&P 500 Bond ETF) and FAGIX (Fidelity Capital & Income Fund) are both funds - SPXB is a Corporate Bonds fund tracking the S&P 500 MarketAxess Investment Grade Corporate Bond Index, while FAGIX is a High Yield Bonds fund actively managed by Fidelity. SPXB is passively managed, while FAGIX is actively managed. At a 0.25 correlation, their price movements are largely independent. SPXB charges 0.15%/yr vs 0.67%/yr for FAGIX.

Performance

SPXB vs. FAGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P 500 Bond ETF (SPXB) and Fidelity Capital & Income Fund (FAGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPXB

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

FAGIX

• 1D: 0.26%
• 1M: 2.18%
• YTD: 8.81%
• 6M: 9.04%
• 1Y: 18.03%
• 3Y*: 13.52%
• 5Y*: 7.06%
• 10Y*: 8.33%

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

SPXB vs. FAGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SPXB ProShares S&P 500 Bond ETF	0.00%	0.00%	-3.45%	8.83%	-16.66%	-1.89%	10.33%	15.34%	1.05%
FAGIX Fidelity Capital & Income Fund	8.81%	12.38%	10.69%	13.02%	-11.50%	11.13%	9.95%	18.96%	-6.69%

Correlation

The correlation between SPXB and FAGIX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (All Time) Calculated using the full available price history since May 3, 2018	0.25

Return for Risk

SPXB vs. FAGIX — Risk / Return Rank

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

SPXB

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

FAGIX

FAGIX Risk / Return Rank: 92
FAGIX Sharpe Ratio Rank: 92
FAGIX Sortino Ratio Rank: 90
FAGIX Omega Ratio Rank: 87
FAGIX Calmar Ratio Rank: 95
FAGIX Martin Ratio Rank: 96

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.

SPXB vs. FAGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Bond ETF (SPXB) and Fidelity Capital & Income Fund (FAGIX). 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.

	SPXB	FAGIX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.85	—
Sortino ratio: Return per unit of downside risk	—	4.08	—
Omega ratio: Gain probability vs. loss probability	—	1.56	—
Calmar ratio: Return relative to maximum drawdown	—	5.29	—
Martin ratio: Return relative to average drawdown	—	21.60	—

Drawdowns

Drawdown Indicators

	SPXB	FAGIX	Difference
Max Drawdown Largest peak-to-trough decline	—	-37.97%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-3.49%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-7.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-28.45%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-6.98%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.85%	—

Volatility

Volatility by Period

	SPXB	FAGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.70%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.32%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	6.49%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	6.68%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	7.85%	—

SPXB vs. FAGIX - Expense Ratio Comparison

SPXB has a 0.15% expense ratio, which is lower than FAGIX's 0.67% expense ratio.

Dividends

SPXB vs. FAGIX - Dividend Comparison

SPXB has not paid dividends to shareholders, while FAGIX's dividend yield for the trailing twelve months is around 5.22%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAGIX Fidelity Capital & Income Fund	5.22%	4.74%	5.02%	5.28%	10.25%	6.08%	4.59%	5.00%	5.67%	5.05%	4.57%	4.51%
SPXB ProShares S&P 500 Bond ETF	0.00%	0.00%	1.22%	4.04%	3.14%	2.00%	2.64%	3.48%	2.52%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPXB and FAGIX in my portfolio?

SPXB and FAGIX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.