- CUSIP
- 31635T187
- Issuer
- Fidelity
- Inception Date
- Aug 16, 2024
- Category
- Inflation-Protected Bonds
- Index Tracked
- Bloomberg U.S. Treasury Inflation Protected Securities Index
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
FSPWX Performance Chart
Fidelity SAI Inflation-Protected Bond Index Fund (FSPWX) is down 0.7% since the beginning of the year. FSPWX is currently trading at $10 per share.
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Returns By Period
Fidelity SAI Inflation-Protected Bond Index Fund (FSPWX) has returned -0.66% so far this year and 0.61% over the past 12 months.
Fidelity SAI Inflation-Protected Bond Index Fund
- 1D
- 0.00%
- 1M
- -1.77%
- 6M
- -1.15%
- YTD
- -0.66%
- 1Y
- 0.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.38%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
FSPWX Monthly Returns History
Based on dividend-adjusted daily data since Aug 22, 2024, FSPWX's average daily return is +0.01%, while the average monthly return is +0.20%. At this rate, an investment would double in approximately 28.9 years.
Historically, 71% of months were positive and 29% were negative. The best month was Feb 2025 with a return of +2.2%, while the worst month was Jul 2026 at -2.0%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 2 months.
On a daily basis, FSPWX closed higher 44% of trading days. The best single day was Jan 15, 2025 with a return of +0.7%, while the worst single day was Jul 10, 2026 at -1.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.50% | 1.28% | -1.27% | 1.03% | 0.20% | -0.39% | -1.96% | -0.66% | |||||
| 2025 | 1.22% | 2.21% | 0.69% | 0.11% | -0.59% | 0.99% | 0.10% | 1.57% | 0.39% | 0.28% | 0.19% | -0.56% | 6.76% |
| 2024 | 0.10% | 1.49% | -1.73% | 0.40% | -1.56% | -1.32% |
Benchmark Metrics
Fidelity SAI Inflation-Protected Bond Index Fund has an annualized alpha of 1.88%, beta of 0.04, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since August 22, 2024.
- This fund participated in 18.29% of S&P 500 Index downside but only 13.72% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.04 may look defensive, but with R2 of 0.02 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 0.02 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
- 1.88%
- Beta
- 0.04
- R²
- 0.02
- Upside Capture
- 13.72%
- Downside Capture
- 18.29%
Expense Ratio
FSPWX has an expense ratio of 0.05%, which is considered low.
Return for Risk
Risk / Return Rank
FSPWX ranks 8 for risk / return — above 8% of mutual funds peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Fidelity SAI Inflation-Protected Bond Index Fund (FSPWX) 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.
| FSPWX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.10 | ||
| Sortino ratioReturn per unit of downside risk | -1.53 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.25 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 2.00 | -1.59 |
| Martin ratioReturn relative to average drawdown | 1.28 | 8.49 | -7.21 |
Dividends
Dividend History
Fidelity SAI Inflation-Protected Bond Index Fund provided a 3.05% dividend yield over the last twelve months, with an annual payout of $0.31 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $0.31 | $0.42 | $0.07 |
Dividend yield | 3.05% | 4.19% | 0.69% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity SAI Inflation-Protected Bond Index 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.09 | $0.00 | $0.21 | $0.42 |
| 2024 | $0.00 | $0.00 | $0.06 | $0.07 |
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 Inflation-Protected Bond Index 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 Inflation-Protected Bond Index Fund was 3.84%, occurring on Dec 20, 2024. Recovery took 45 trading sessions.
The current Fidelity SAI Inflation-Protected Bond Index Fund drawdown is 2.44%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-3.84%Dec 2024 | 2mo 19d | 2mo 10d | 4mo 29dOct 2024 - Feb 2025 | — |
-2.91%Apr 2025 | 7d | 3mo 11d | 3mo 18dApr 2025 - Jul 2025 | 2025 selloff2025 |
-2.73%Jul 2026 | 1mo 24d | — | 2moJun 2026 - now | — |
-1.95%Mar 2026 | 25d | 1mo 12d | 2mo 7dMar 2026 - May 2026 | — |
-1.25%Dec 2025 | 1mo 17d | 2mo 5d | 3mo 22dOct 2025 - Feb 2026 | — |
Drawdown Indicators
| FSPWX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.84% | -56.78% | +52.94% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -9.10% | +6.37% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -2.44% | -1.58% | -0.86% |
Average DrawdownAverage peak-to-trough decline | -1.00% | -10.70% | +9.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 2.14% | -1.27% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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