Fidelity Short-Term Bond Fund (FSHBX)

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Fidelity Short-Term Bond Fund (FSHBX) is up 0.7% since the beginning of the year. FSHBX is currently trading at $8 per share. Investors who bought $1,000 worth of FSHBX shares 5 years ago would now be looking at an investment worth $1,117.

Fidelity Short-Term Bond Fund (FSHBX) has returned 0.65% so far this year and 2.62% over the past 12 months. Over the last ten years, FSHBX has returned 2.08% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.

Based on dividend-adjusted daily data since Sep 15, 1986, FSHBX's average daily return is +0.01%, while the average monthly return is +0.26%. At this rate, an investment would double in approximately 22.2 years.

Historically, 73% of months were positive and 27% were negative. The best month was Mar 1991 with a return of +1.9%, while the worst month was Dec 1994 at -2.3%. The longest winning streak lasted 29 consecutive months, and the longest losing streak was 9 months.

On a daily basis, FSHBX closed higher 26% of trading days. The best single day was Jan 2, 1991 with a return of +1.3%, while the worst single day was Nov 20, 2008 at -1.2%.

Fidelity Short-Term Bond Fund has an annualized alpha of 3.23%, beta of -0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since September 15, 1986.

• This fund captured 8.60% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -4.54%) - 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.

FSHBX has an expense ratio of 0.30%, placing it in the medium range.

FSHBX ranks 82 for risk / return — above 82% of mutual funds peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.

Fidelity Short-Term Bond Fund provided a 3.79% dividend yield over the last twelve months, with an annual payout of $0.32 per share. The fund has been increasing its distributions for 3 consecutive years.

The table displays the monthly dividend distributions for Fidelity Short-Term Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Fidelity Short-Term 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 Short-Term Bond Fund was 8.80%, occurring on Mar 21, 1989. Recovery took 431 trading sessions.

The current Fidelity Short-Term Bond Fund drawdown is 0.24%.

The chart below shows the rolling one-month volatility.