TBFAX vs. FNBGX
TBFAX (Thrivent Government Bond) and FNBGX (Fidelity Long-Term Treasury Bond Index Fund) are both Government Bonds funds. Over the past 5 years, TBFAX returned -0.49%/yr vs -7.27%/yr for FNBGX. Their correlation of 0.89 means they have usually moved in the same direction. TBFAX charges 0.77%/yr vs 0.03%/yr for FNBGX.
Performance
TBFAX vs. FNBGX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TBFAX achieves a -1.27% return, which is significantly higher than FNBGX's -3.60% return.
TBFAX
- 1D
- -0.23%
- 1M
- -1.25%
- 6M
- -1.20%
- YTD
- -1.27%
- 1Y
- 1.22%
- 3Y*
- 3.21%
- 5Y*
- -0.49%
- 10Y*
- 0.71%
- ALL TIME*
- 1.18%
FNBGX
- 1D
- -0.68%
- 1M
- -3.83%
- 6M
- -3.19%
- YTD
- -3.60%
- 1Y
- -2.02%
- 3Y*
- -0.74%
- 5Y*
- -7.27%
- 10Y*
- —
- ALL TIME*
- -1.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
TBFAX vs. FNBGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TBFAX Thrivent Government Bond | -1.27% | 7.00% | 0.96% | 3.52% | -10.67% | -1.92% | 6.93% | 5.70% | -0.02% | -0.40% |
FNBGX Fidelity Long-Term Treasury Bond Index Fund | -3.60% | 5.30% | -6.18% | 3.20% | -29.89% | -5.17% | 17.58% | 14.24% | -1.62% | 1.86% |
Correlation
The correlation between TBFAX and FNBGX is 0.86, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2017 | 0.89 |
The correlation between TBFAX and FNBGX has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TBFAX vs. FNBGX — Risk / Return Rank
TBFAX
FNBGX
TBFAX vs. FNBGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thrivent Government Bond (TBFAX) and Fidelity Long-Term Treasury Bond Index Fund (FNBGX). 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.
| TBFAX | FNBGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.68 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.99 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.67 | -0.10 | +0.77 |
| Martin ratioReturn relative to average drawdown | 1.55 | -0.23 | +1.78 |
Loading charts...
Drawdowns
TBFAX vs. FNBGX - Drawdown Comparison
The maximum TBFAX drawdown since its inception was -17.68%, smaller than the maximum FNBGX drawdown of -46.86%. Use the drawdown chart below to compare losses from any high point for TBFAX and FNBGX.
Loading charts...
Drawdown Indicators
| TBFAX | FNBGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.68% | -46.86% | +29.18% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -7.38% | +4.17% |
Max Drawdown (3Y)Largest decline over 3 years | -5.53% | -13.48% | +7.95% |
Max Drawdown (5Y)Largest decline over 5 years | -15.94% | -41.54% | +25.60% |
Max Drawdown (10Y)Largest decline over 10 years | -17.68% | — | — |
Current DrawdownCurrent decline from peak | -4.52% | -39.51% | +34.99% |
Average DrawdownAverage peak-to-trough decline | -4.17% | -21.94% | +17.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.38% | 3.29% | -1.91% |
Volatility
TBFAX vs. FNBGX - Volatility Comparison
The current volatility for Thrivent Government Bond (TBFAX) is 0.90%, while Fidelity Long-Term Treasury Bond Index Fund (FNBGX) has a volatility of 2.25%. This indicates that TBFAX experiences smaller price fluctuations and is considered to be less risky than FNBGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TBFAX | FNBGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 2.25% | -1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 2.85% | 6.37% | -3.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.66% | 8.46% | -4.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.65% | 14.46% | -8.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.72% | 14.11% | -9.39% |
TBFAX vs. FNBGX - Expense Ratio Comparison
TBFAX has a 0.77% expense ratio, which is higher than FNBGX's 0.03% expense ratio.
Dividends
TBFAX vs. FNBGX - Dividend Comparison
TBFAX's dividend yield for the trailing twelve months is around 3.23%, less than FNBGX's 3.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNBGX Fidelity Long-Term Treasury Bond Index Fund | 3.82% | 3.88% | 3.75% | 3.20% | 2.26% | 2.47% | 3.96% | 2.63% | 2.93% | 0.70% | 0.00% | 0.00% |
TBFAX Thrivent Government Bond | 3.23% | 3.54% | 3.73% | 2.29% | 2.08% | 0.92% | 3.29% | 2.08% | 2.02% | 1.48% | 1.25% | 0.91% |
Frequently Asked Questions
TBFAX and FNBGX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNBGX has higher volatility (2.25%) compared to TBFAX (0.90%). In terms of maximum drawdown, TBFAX dropped -17.68% vs FNBGX's -46.86%.
TBFAX currently has the higher Sharpe Ratio (0.59 vs -0.09), 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.
Find the right allocation for TBFAX and FNBGX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer