- 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 up 1.2% 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 1.23% so far this year and 4.04% over the past 12 months.
Fidelity SAI Inflation-Protected Bond Index Fund
- 1D
- 0.30%
- 1M
- 0.39%
- YTD
- 1.23%
- 6M
- 1.33%
- 1Y
- 4.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
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 +0.28%. At this rate, an investment would double in approximately 20.7 years.
Historically, 74% of months were positive and 26% were negative. The best month was Feb 2025 with a return of +2.2%, while the worst month was Oct 2024 at -1.7%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 1 months.
On a daily basis, FSPWX closed higher 45% of trading days. The best single day was Jan 15, 2025 with a return of +0.7%, while the worst single day was Apr 10, 2025 at -1.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.50% | 1.28% | -1.27% | 1.03% | 0.20% | -0.49% | 1.23% | ||||||
| 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 3.02%, 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 participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (13.72%) than losses (8.25%) - typical of diversified or defensive assets.
- 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
- 3.02%
- Beta
- 0.04
- R²
- 0.02
- Upside Capture
- 13.72%
- Downside Capture
- 8.25%
Expense Ratio
FSPWX has an expense ratio of 0.05%, which is considered low.
Return for Risk
Risk / Return Rank
FSPWX ranks 27 for risk / return — below 27% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by 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 | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.37 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 2.78 | -0.64 |
| Martin ratioReturn relative to average drawdown | 6.52 | 12.44 | -5.92 |
Dividends
Dividend History
Fidelity SAI Inflation-Protected Bond Index Fund provided a 3.78% dividend yield over the last twelve months, with an annual payout of $0.39 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $0.39 | $0.42 | $0.07 |
Dividend yield | 3.78% | 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 | ||||||
| 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 0.59%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2024 pullback2024 | -3.84%Dec 2024 | 2mo 19d | 2mo 10d | 4mo 29dOct 2024 - Feb 2025 |
2025 selloff2025 | -2.91%Apr 2025 | 7d | 3mo 11d | 3mo 18dApr 2025 - Jul 2025 |
2026 pullback2026 | -1.95%Mar 2026 | 25d | 1mo 12d | 2mo 7dMar 2026 - May 2026 |
2025 pullback2025 | -1.25%Dec 2025 | 1mo 17d | 2mo 5d | 3mo 22dOct 2025 - Feb 2026 |
2025 selloff2025 | -1.08%Mar 2025 | 3d | 21d | 24dMar 2025 - Mar 2025 |
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 | -1.95% | -9.10% | +7.15% |
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 | -0.59% | -1.80% | +1.21% |
Average DrawdownAverage peak-to-trough decline | -0.96% | -10.71% | +9.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 2.03% | -1.39% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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