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Strategic Advisers Short Duration Fund (FAUDX)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Strategic Advisers Short Duration Fund (FAUDX)

Mutual Fund · Currency in USD · Last updated May 31, 2025

The fund allocates among affiliated fixed-income funds and non-affiliated fixed-income funds that participate in Fidelity's FundsNetwork, and non-affiliated ETFs (underlying funds) and sub-advisers. It allocates assets among underlying funds and sub-advisers to achieve similar overall interest rate risk to the FTSE 6-Month U.S. Treasury Bill Index. The fund normally invests in U.S. dollar-denominated money market and investment-grade debt securities, and repurchase agreements. It maintains a dollar-weighted average maturity of three years or less.

Fund Info

ISIN

US31635R7695

CUSIP

31635R769

Issuer

Fidelity

Inception Date

Dec 20, 2011

Category

Ultrashort Bond

Min. Investment

$0

Asset Class

Bond

Expense Ratio

FAUDX has an expense ratio of 0.26%, which is considered low.

Share Price Chart

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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Strategic Advisers Short Duration Fund

Performance

Performance Chart

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S&P 500

Returns By Period

Strategic Advisers Short Duration Fund (FAUDX) returned 1.60% year-to-date (YTD) and 5.61% over the past 12 months. Over the past 10 years, FAUDX returned 2.27% annually, underperforming the S&P 500 benchmark at 10.85%.

FAUDX

YTD

1.60%

1M

-0.10%

6M

2.41%

1Y

5.61%

3Y*

4.48%

5Y*

2.73%

10Y*

2.27%

^GSPC (Benchmark)

YTD

0.51%

1M

6.15%

6M

-2.00%

1Y

12.92%

3Y*

12.68%

5Y*

14.19%

10Y*

10.85%

*Annualized

Monthly Returns

The table below presents the monthly returns of FAUDX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.42%0.54%0.37%0.35%-0.10%1.60%
20241.11%0.17%0.10%0.58%0.61%0.10%1.10%0.30%1.09%-0.01%0.10%0.80%6.22%
20231.47%-0.02%0.42%0.20%0.55%0.25%0.50%0.48%0.00%0.75%0.79%0.30%5.84%
2022-0.26%-0.35%-0.63%-0.22%0.10%-0.50%0.35%0.07%-0.53%-0.08%0.56%0.00%-1.49%
20210.14%-0.05%-0.06%0.14%0.04%0.04%0.04%0.04%-0.07%-0.16%-0.07%0.00%0.03%
20200.43%0.35%-2.14%1.55%0.72%0.70%0.28%0.18%0.08%0.07%0.16%0.19%2.54%
20190.61%0.39%0.32%0.40%0.31%0.29%0.30%0.28%0.18%0.27%0.07%0.23%3.70%
20180.02%0.02%-0.10%0.39%0.16%-0.10%0.44%0.18%0.18%0.09%0.09%-0.08%1.30%
20170.20%0.20%0.11%0.21%0.11%0.11%0.20%0.10%0.10%0.21%0.01%0.08%1.65%
2016-0.00%-0.01%0.39%0.30%0.20%0.20%0.21%0.21%0.10%0.10%-0.09%0.12%1.74%
20150.16%0.15%0.17%0.07%0.18%-0.12%0.05%-0.12%-0.12%0.22%-0.02%-0.13%0.49%
20140.27%0.07%0.07%0.07%0.27%-0.03%-0.03%0.17%-0.03%0.07%-0.03%-0.18%0.69%
Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

With an overall rank of 99, FAUDX is among the top 1% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.

The Risk-Adjusted Performance Rank of FAUDX is 9999
Overall Rank
The Sharpe Ratio Rank of FAUDX is 9999
Sharpe Ratio Rank
The Sortino Ratio Rank of FAUDX is 9999
Sortino Ratio Rank
The Omega Ratio Rank of FAUDX is 9999
Omega Ratio Rank
The Calmar Ratio Rank of FAUDX is 9999
Calmar Ratio Rank
The Martin Ratio Rank of FAUDX is 9999
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.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for Strategic Advisers Short Duration Fund (FAUDX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

Strategic Advisers Short Duration Fund Sharpe ratios as of May 31, 2025 (values are recalculated daily):

  • 1-Year: 3.56
  • 5-Year: 2.08
  • 10-Year: 1.90
  • All Time: 1.81

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of Strategic Advisers Short Duration Fund compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

Dividend History

Strategic Advisers Short Duration Fund provided a 4.84% dividend yield over the last twelve months, with an annual payout of $0.48 per share. The fund has been increasing its distributions for 3 consecutive years.

1.00%2.00%3.00%4.00%5.00%$0.00$0.10$0.20$0.30$0.40$0.5020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$0.48$0.49$0.42$0.19$0.07$0.16$0.26$0.23$0.14$0.12$0.11$0.10

Dividend yield

4.84%4.90%4.22%1.94%0.73%1.61%2.63%2.31%1.43%1.23%1.09%0.99%

Monthly Dividends

The table displays the monthly dividend distributions for Strategic Advisers Short Duration Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.03$0.03$0.04$0.04$0.00$0.14
2024$0.03$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.07$0.49
2023$0.02$0.03$0.03$0.03$0.03$0.03$0.04$0.04$0.04$0.04$0.04$0.05$0.42
2022$0.00$0.01$0.01$0.01$0.01$0.01$0.01$0.02$0.02$0.02$0.02$0.05$0.19
2021$0.00$0.01$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.03$0.07
2020$0.01$0.02$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.05$0.16
2019$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.05$0.26
2018$0.01$0.01$0.01$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.05$0.23
2017$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.03$0.14
2016$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.12
2015$0.01$0.01$0.01$0.01$0.01$0.01$0.02$0.01$0.01$0.01$0.01$0.02$0.11
2014$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.01$0.02$0.10

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

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Worst Drawdowns

The table below displays the maximum drawdowns of the Strategic Advisers Short Duration Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Strategic Advisers Short Duration Fund was 3.86%, occurring on Mar 24, 2020. Recovery took 51 trading sessions.

The current Strategic Advisers Short Duration Fund drawdown is 0.10%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-3.86%Mar 9, 202012Mar 24, 202051Jun 5, 202063
-2.67%Oct 4, 2021265Oct 20, 202298Mar 13, 2023363
-0.67%May 22, 201331Jul 5, 201381Oct 29, 2013112
-0.51%Jun 1, 2015148Dec 29, 201562Mar 30, 2016210
-0.46%Oct 14, 201453Dec 29, 201434Feb 18, 201587
Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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