Fidelity SAI Tax-Free Bond Fund (FSAJX)
The fund normally invests at least 80% of assets in investment-grade municipal securities whose interest is exempt from federal income tax. Normally it will not invest in municipal securities whose interest is subject to federal income tax or in municipal securities whose interest is subject to the federal alternative minimum tax. The fund potentially invests more than 25% of total assets in municipal securities that finance similar types of projects.
Fund Info
US31635V1668
31635V166
Oct 2, 2018
$0
Expense Ratio
FSAJX has an expense ratio of 0.25%, which is considered low.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
Fidelity SAI Tax-Free Bond Fund (FSAJX) returned -1.57% year-to-date (YTD) and 2.10% over the past 12 months.
FSAJX
-1.57%
-0.51%
-2.71%
2.10%
2.08%
1.18%
N/A
^GSPC (Benchmark)
0.51%
6.15%
-2.00%
12.92%
12.68%
14.19%
10.85%
Monthly Returns
The table below presents the monthly returns of FSAJX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.46% | 1.04% | -1.81% | -0.73% | -0.51% | -1.57% | |||||||
| 2024 | 0.12% | 0.04% | -0.20% | -1.09% | -0.14% | 1.62% | 1.11% | 0.59% | 1.29% | -1.51% | 1.39% | -1.16% | 2.04% |
| 2023 | 3.56% | -2.39% | 2.19% | -0.20% | -0.55% | 0.85% | 0.34% | -1.27% | -2.98% | -0.97% | 6.62% | 2.63% | 7.66% |
| 2022 | -2.86% | -0.61% | -3.26% | -2.98% | 1.50% | -1.83% | 2.85% | -2.40% | -3.90% | -1.06% | 5.30% | -0.31% | -9.52% |
| 2021 | 0.90% | -1.68% | 0.72% | 1.07% | 0.52% | 0.42% | 0.78% | -0.40% | -0.94% | -0.22% | 0.98% | 0.17% | 2.30% |
| 2020 | 1.95% | 1.53% | -6.05% | -2.43% | 3.35% | 1.80% | 1.97% | -0.20% | -0.02% | -0.20% | 1.58% | 0.91% | 3.91% |
| 2019 | 0.62% | 0.60% | 1.94% | 0.41% | 1.76% | 0.40% | 0.86% | 1.69% | -0.84% | 0.09% | 0.18% | 0.31% | 8.28% |
| 2018 | -0.14% | 0.86% | 1.21% | 1.94% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of FSAJX is 27, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Fidelity SAI Tax-Free Bond Fund (FSAJX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
Fidelity SAI Tax-Free Bond Fund provided a 3.18% dividend yield over the last twelve months, with an annual payout of $0.31 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $0.31 | $0.31 | $0.28 | $0.22 | $0.20 | $0.22 | $0.28 | $0.04 |
Dividend yield | 3.18% | 3.06% | 2.76% | 2.29% | 1.81% | 2.03% | 2.64% | 0.43% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity SAI Tax-Free Bond 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.03 | $0.02 | $0.03 | $0.03 | $0.00 | $0.10 | |||||||
| 2024 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.31 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.28 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.22 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.20 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.22 |
| 2019 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.04 | $0.28 |
| 2018 | $0.01 | $0.02 | $0.02 | $0.04 |
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 Fidelity SAI Tax-Free Bond 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 Fidelity SAI Tax-Free Bond Fund was 14.68%, occurring on Oct 25, 2022. Recovery took 491 trading sessions.
The current Fidelity SAI Tax-Free Bond Fund drawdown is 3.34%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -14.68% | Jul 21, 2021 | 320 | Oct 25, 2022 | 491 | Sep 30, 2024 | 811 |
| -13.37% | Mar 10, 2020 | 9 | Mar 20, 2020 | 198 | Dec 31, 2020 | 207 |
| -5.58% | Dec 9, 2024 | 83 | Apr 9, 2025 | — | — | — |
| -2.57% | Oct 4, 2024 | 24 | Nov 6, 2024 | 18 | Dec 2, 2024 | 42 |
| -2.27% | Feb 16, 2021 | 8 | Feb 25, 2021 | 65 | May 28, 2021 | 73 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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