USGNX vs. FNBGX
USGNX (USAA Government Securities Fund) and FNBGX (Fidelity Long-Term Treasury Bond Index Fund) are both Government Bonds funds. Over the past 5 years, USGNX returned 0.54%/yr vs -7.42%/yr for FNBGX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. USGNX charges 0.53%/yr vs 0.03%/yr for FNBGX.
Performance
USGNX vs. FNBGX - Performance Comparison
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Returns By Period
In the year-to-date period, USGNX achieves a -0.47% return, which is significantly higher than FNBGX's -3.27% return.
USGNX
- 1D
- 0.23%
- 1M
- -0.90%
- 6M
- -0.67%
- YTD
- -0.47%
- 1Y
- 2.04%
- 3Y*
- 3.86%
- 5Y*
- 0.54%
- 10Y*
- 1.44%
- ALL TIME*
- 4.26%
FNBGX
- 1D
- 0.34%
- 1M
- -3.50%
- 6M
- -3.07%
- YTD
- -3.27%
- 1Y
- -1.90%
- 3Y*
- -0.16%
- 5Y*
- -7.42%
- 10Y*
- —
- ALL TIME*
- -1.41%
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 |
USGNX vs. FNBGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USGNX USAA Government Securities Fund | -0.47% | 7.20% | 1.94% | 4.13% | -8.13% | -1.05% | 5.48% | 5.60% | 1.05% | -0.10% |
FNBGX Fidelity Long-Term Treasury Bond Index Fund | -3.27% | 5.30% | -6.18% | 3.20% | -29.89% | -5.17% | 17.58% | 14.24% | -1.62% | 1.86% |
Correlation
The correlation between USGNX and FNBGX is 0.83, 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. | 0.83 |
Correlation (3Y) Balances recent behavior with more history. | 0.87 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2017 | 0.78 |
The correlation between USGNX and FNBGX has been stable across timeframes, ranging from 0.78 to 0.87 - a consistent structural relationship.
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Return for Risk
USGNX vs. FNBGX — Risk / Return Rank
USGNX
FNBGX
USGNX vs. FNBGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USAA Government Securities Fund (USGNX) 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.
| USGNX | FNBGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.85 | ||
| Sortino ratioReturn per unit of downside risk | +1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 0.97 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.81 | -0.23 | +1.04 |
| Martin ratioReturn relative to average drawdown | 2.06 | -0.51 | +2.57 |
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Drawdowns
USGNX vs. FNBGX - Drawdown Comparison
The maximum USGNX drawdown since its inception was -12.03%, smaller than the maximum FNBGX drawdown of -46.86%. Use the drawdown chart below to compare losses from any high point for USGNX and FNBGX.
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Drawdown Indicators
| USGNX | FNBGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.03% | -46.86% | +34.83% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | -7.38% | +4.70% |
Max Drawdown (3Y)Largest decline over 3 years | -4.38% | -13.48% | +9.10% |
Max Drawdown (5Y)Largest decline over 5 years | -11.85% | -41.54% | +29.69% |
Max Drawdown (10Y)Largest decline over 10 years | -12.03% | — | — |
Current DrawdownCurrent decline from peak | -2.16% | -39.30% | +37.14% |
Average DrawdownAverage peak-to-trough decline | -1.36% | -21.94% | +20.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 3.32% | -2.27% |
Volatility
USGNX vs. FNBGX - Volatility Comparison
The current volatility for USAA Government Securities Fund (USGNX) is 1.00%, while Fidelity Long-Term Treasury Bond Index Fund (FNBGX) has a volatility of 2.31%. This indicates that USGNX 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.
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Volatility by Period
| USGNX | FNBGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 2.31% | -1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.73% | 6.38% | -3.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.34% | 8.37% | -5.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.86% | 14.46% | -9.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.82% | 14.11% | -10.29% |
USGNX vs. FNBGX - Expense Ratio Comparison
USGNX has a 0.53% expense ratio, which is higher than FNBGX's 0.03% expense ratio.
Dividends
USGNX vs. FNBGX - Dividend Comparison
USGNX's dividend yield for the trailing twelve months is around 3.55%, less than FNBGX's 3.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNBGX Fidelity Long-Term Treasury Bond Index Fund | 3.81% | 3.88% | 3.75% | 3.20% | 2.26% | 2.47% | 3.96% | 2.63% | 2.93% | 0.70% | 0.00% | 0.00% |
USGNX USAA Government Securities Fund | 3.55% | 3.75% | 3.65% | 2.77% | 2.07% | 3.02% | 2.84% | 2.46% | 2.26% | 2.07% | 2.07% | 2.38% |
Frequently Asked Questions
USGNX and FNBGX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNBGX has higher volatility (2.31%) compared to USGNX (1.00%). In terms of maximum drawdown, USGNX dropped -12.03% vs FNBGX's -46.86%.
USGNX currently has the higher Sharpe Ratio (0.65 vs -0.20), 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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