USFR vs. FCNVX
USFR (WisdomTree Floating Rate Treasury Fund) and FCNVX (Fidelity Conservative Income Bond Institutional Class) are both funds - USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index, while FCNVX is a Total Bond Market fund managed by Fidelity. Over the past 10 years, USFR returned 2.41%/yr vs 2.58%/yr for FCNVX. At a 0.01 correlation, their price movements are largely independent. USFR charges 0.15%/yr vs 0.25%/yr for FCNVX.
Performance
USFR vs. FCNVX - Performance Comparison
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Returns By Period
In the year-to-date period, USFR achieves a 1.66% return, which is significantly higher than FCNVX's 1.50% return. Over the past 10 years, USFR has underperformed FCNVX with an annualized return of 2.41%, while FCNVX has yielded a comparatively higher 2.58% annualized return.
USFR
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 1.66%
- 6M
- 1.98%
- 1Y
- 4.03%
- 3Y*
- 4.74%
- 5Y*
- 3.67%
- 10Y*
- 2.41%
FCNVX
- 1D
- 0.00%
- 1M
- 0.33%
- YTD
- 1.50%
- 6M
- 1.85%
- 1Y
- 4.24%
- 3Y*
- 5.03%
- 5Y*
- 3.58%
- 10Y*
- 2.58%
USFR vs. FCNVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USFR WisdomTree Floating Rate Treasury Fund | 1.66% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 2.01% | 1.03% |
FCNVX Fidelity Conservative Income Bond Institutional Class | 1.50% | 4.51% | 5.43% | 5.86% | 0.85% | -0.06% | 1.10% | 3.00% | 1.82% | 1.42% |
Correlation
The correlation between USFR and FCNVX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2014 | 0.01 |
The correlation between USFR and FCNVX shifts across timeframes, from 0.00 (10 years) to 0.13 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
USFR vs. FCNVX — Risk / Return Rank
USFR
FCNVX
USFR vs. FCNVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Floating Rate Treasury Fund (USFR) and Fidelity Conservative Income Bond Institutional Class (FCNVX). 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.
| USFR | FCNVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +11.43 | ||
| Sortino ratioReturn per unit of downside risk | +27.14 | ||
| Omega ratioGain probability vs. loss probability | 13.43 | 13.78 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 203.42 | 41.82 | +161.60 |
| Martin ratioReturn relative to average drawdown | 787.83 | 153.67 | +634.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| USFR | FCNVX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 14.95 | 3.52 | +11.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 9.30 | 2.78 | +6.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 3.09 | 2.48 | +0.61 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.61 | 2.20 | -0.60 |
Drawdowns
USFR vs. FCNVX - Drawdown Comparison
The maximum USFR drawdown since its inception was -1.36%, smaller than the maximum FCNVX drawdown of -2.19%. Use the drawdown chart below to compare losses from any high point for USFR and FCNVX.
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Drawdown Indicators
| USFR | FCNVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.36% | -2.19% | +0.83% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -0.10% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -0.06% | -0.30% | +0.24% |
Max Drawdown (5Y)Largest decline over 5 years | -0.18% | -0.59% | +0.41% |
Max Drawdown (10Y)Largest decline over 10 years | -0.80% | -2.19% | +1.39% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -0.05% | -0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.03% | -0.02% |
Volatility
USFR vs. FCNVX - Volatility Comparison
The current volatility for WisdomTree Floating Rate Treasury Fund (USFR) is 0.08%, while Fidelity Conservative Income Bond Institutional Class (FCNVX) has a volatility of 0.33%. This indicates that USFR experiences smaller price fluctuations and is considered to be less risky than FCNVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USFR | FCNVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.08% | 0.33% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 0.78% | -0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.27% | 1.18% | -0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.40% | 1.29% | -0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.78% | 1.04% | -0.26% |
USFR vs. FCNVX - Expense Ratio Comparison
USFR has a 0.15% expense ratio, which is lower than FCNVX's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
USFR vs. FCNVX - Dividend Comparison
USFR's dividend yield for the trailing twelve months is around 3.91%, less than FCNVX's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCNVX Fidelity Conservative Income Bond Institutional Class | 4.15% | 4.41% | 5.17% | 4.97% | 1.24% | 0.24% | 0.99% | 2.45% | 2.21% | 1.30% | 1.01% | 0.48% |
USFR WisdomTree Floating Rate Treasury Fund | 3.91% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% | 0.00% |
Frequently Asked Questions
USFR and FCNVX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCNVX has higher volatility (0.33%) compared to USFR (0.08%). In terms of maximum drawdown, USFR dropped -1.36% vs FCNVX's -2.19%.
USFR currently has the higher Sharpe Ratio (14.95 vs 3.52), 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.
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