- ISIN
- US31635R3710
- CUSIP
- 31635R371
- Issuer
- Fidelity
- Inception Date
- Dec 27, 2017
- Category
- Municipal Bonds
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
FGNSX Performance Chart
Strategic Advisers Tax-Sensitive Short Duration Fund (FGNSX) is up 0.8% since the beginning of the year. FGNSX is currently trading at $10 per share. Investors who bought $1,000 worth of FGNSX shares 5 years ago would now be looking at an investment worth $1,109.
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Returns By Period
Strategic Advisers Tax-Sensitive Short Duration Fund (FGNSX) has returned 0.82% so far this year and 1.90% over the past 12 months.
Strategic Advisers Tax-Sensitive Short Duration Fund
- 1D
- 0.00%
- 1M
- -0.20%
- 6M
- 0.62%
- YTD
- 0.82%
- 1Y
- 1.90%
- 3Y*
- 3.06%
- 5Y*
- 2.09%
- 10Y*
- —
- ALL TIME*
- 1.76%
Benchmark (S&P 500 Index)
- 1D
- 1.48%
- 1M
- 1.57%
- 6M
- 8.95%
- YTD
- 11.03%
- 1Y
- 21.84%
- 3Y*
- 19.28%
- 5Y*
- 11.54%
- 10Y*
- 13.29%
- ALL TIME*
- 8.11%
FGNSX Monthly Returns History
Based on dividend-adjusted daily data since Dec 28, 2017, FGNSX's average daily return is +0.01%, while the average monthly return is +0.14%. At this rate, an investment would double in approximately 41.3 years.
Historically, 77% of months were positive and 23% were negative. The best month was Nov 2023 with a return of +1.1%, while the worst month was Jan 2022 at -0.5%. The longest winning streak lasted 24 consecutive months, and the longest losing streak was 4 months.
On a daily basis, FGNSX closed higher 12% of trading days. The best single day was Apr 11, 2025 with a return of +2.2%, while the worst single day was Apr 14, 2025 at -2.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.20% | 0.20% | -0.24% | 0.26% | 0.25% | 0.35% | -0.20% | 0.82% | |||||
| 2025 | 0.56% | 0.14% | 0.17% | 0.08% | 0.20% | 0.36% | 0.46% | 0.36% | 0.26% | 0.16% | 0.00% | 0.28% | 3.08% |
| 2024 | 0.16% | 0.26% | 0.18% | 0.08% | 0.29% | 0.47% | 0.58% | 0.58% | 0.27% | 0.09% | 0.37% | 0.09% | 3.47% |
| 2023 | 0.59% | -0.31% | 0.72% | 0.01% | 0.02% | 0.43% | 0.24% | 0.26% | -0.14% | 0.00% | 1.07% | 0.60% | 3.56% |
| 2022 | -0.47% | -0.07% | -0.46% | -0.25% | 0.36% | -0.10% | 0.30% | -0.28% | -0.40% | 0.05% | 0.77% | 0.19% | -0.36% |
| 2021 | 0.10% | -0.20% | 0.04% | 0.14% | 0.04% | 0.04% | 0.03% | 0.03% | -0.07% | -0.07% | 0.03% | 0.03% | 0.14% |
Benchmark Metrics
Strategic Advisers Tax-Sensitive Short Duration Fund has an annualized alpha of 1.76%, beta of 0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since December 28, 2017.
- This fund captured 4.65% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -0.31%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.00 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 1.76%
- Beta
- 0.00
- R²
- 0.00
- Upside Capture
- 4.65%
- Downside Capture
- -0.31%
Expense Ratio
FGNSX has an expense ratio of 0.07%, which is considered low.
Return for Risk
Risk / Return Rank
FGNSX ranks 95 for risk / return — above 95% of mutual funds peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Strategic Advisers Tax-Sensitive Short Duration Fund (FGNSX) and compare them to S&P 500 Index.
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.
| FGNSX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +2.71 | ||
| Omega ratioGain probability vs. loss probability | 2.18 | 1.31 | +0.88 |
| Calmar ratioReturn relative to maximum drawdown | 4.41 | 2.41 | +2.00 |
| Martin ratioReturn relative to average drawdown | 18.64 | 10.22 | +8.42 |
Dividends
Dividend History
Strategic Advisers Tax-Sensitive Short Duration Fund provided a 2.08% dividend yield over the last twelve months, with an annual payout of $0.21 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.21 | $0.26 | $0.33 | $0.26 | $0.08 | $0.03 | $0.08 | $0.18 | $0.14 |
Dividend yield | 2.08% | 2.63% | 3.31% | 2.57% | 0.84% | 0.34% | 0.83% | 1.79% | 1.36% |
Monthly Dividends
The table displays the monthly dividend distributions for Strategic Advisers Tax-Sensitive Short Duration Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.10 | |||||
| 2025 | $0.03 | $0.02 | $0.03 | $0.03 | $0.00 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.03 | $0.26 |
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.33 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.00 | $0.03 | $0.03 | $0.26 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | $0.00 | $0.00 | $0.01 | $0.00 | $0.02 | $0.02 | $0.02 | $0.08 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.03 |
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 Tax-Sensitive 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 Tax-Sensitive Short Duration Fund was 2.35%, occurring on Apr 21, 2025. Recovery took 152 trading sessions.
The current Strategic Advisers Tax-Sensitive Short Duration Fund drawdown is 0.20%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-2.35%Apr 2025 | 7d | 8mo 14d | 8mo 21dApr 2025 - Dec 2025 | 2025 selloff2025 |
-1.89%Mar 2020 | 10d | 3mo 25d | 4mo 5dMar 2020 - Jul 2020 | COVID crash2020 |
-1.54%Sep 2022 | 1y 19d | 4mo 5d | 1y 4moSep 2021 - Jan 2023 | Bear market2022 |
-1.29%Apr 2025 | 2d | 2d | 4dApr 2025 - Apr 2025 | 2025 selloff2025 |
-1.20%Dec 2024 | 7d | 11d | 18dDec 2024 - Dec 2024 | — |
Drawdown Indicators
| FGNSX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.35% | -56.78% | +54.43% |
Max Drawdown (1Y)Largest decline over 1 year | -0.50% | -9.10% | +8.60% |
Max Drawdown (3Y)Largest decline over 3 years | -2.35% | -18.90% | +16.55% |
Max Drawdown (5Y)Largest decline over 5 years | -2.35% | -25.43% | +23.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.20% | -0.12% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -10.70% | +10.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | 2.14% | -2.03% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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