BORAX vs. FSPWX
BORAX (CollegeAdvantage 529 Savings Plan - BlackRock Inflation Protected Bond Option) and FSPWX (Fidelity SAI Inflation-Protected Bond Index Fund) are both Inflation-Protected Bonds funds - BORAX tracks the Bloomberg U.S. Treasury Inflation Protected Securities (TIPS) Index (Series L) while FSPWX tracks the Bloomberg U.S. Treasury Inflation Protected Securities Index. Both are passively managed. Over the past year, BORAX returned 3.56% vs 4.04% for FSPWX. Their correlation of 0.88 suggests significant overlap in exposure. BORAX charges 1.48%/yr vs 0.05%/yr for FSPWX.
Performance
BORAX vs. FSPWX - Performance Comparison
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Returns By Period
In the year-to-date period, BORAX achieves a 1.00% return, which is significantly lower than FSPWX's 1.23% return.
BORAX
- 1D
- 0.20%
- 1M
- 0.27%
- YTD
- 1.00%
- 6M
- 1.07%
- 1Y
- 3.56%
- 3Y*
- 3.22%
- 5Y*
- 0.70%
- 10Y*
- —
FSPWX
- 1D
- 0.30%
- 1M
- 0.39%
- YTD
- 1.23%
- 6M
- 1.33%
- 1Y
- 4.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BORAX vs. FSPWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BORAX CollegeAdvantage 529 Savings Plan - BlackRock Inflation Protected Bond Option | 1.00% | 6.40% | -2.09% |
FSPWX Fidelity SAI Inflation-Protected Bond Index Fund | 1.23% | 6.76% | -1.32% |
Correlation
The correlation between BORAX and FSPWX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2024 | 0.88 |
The correlation between BORAX and FSPWX has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.
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Return for Risk
BORAX vs. FSPWX — Risk / Return Rank
BORAX
FSPWX
BORAX vs. FSPWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CollegeAdvantage 529 Savings Plan - BlackRock Inflation Protected Bond Option (BORAX) and Fidelity SAI Inflation-Protected Bond Index Fund (FSPWX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| BORAX | FSPWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.23 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 2.14 | -0.44 |
| Martin ratioReturn relative to average drawdown | 5.32 | 6.52 | -1.20 |
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Drawdowns
BORAX vs. FSPWX - Drawdown Comparison
The maximum BORAX drawdown since its inception was -14.39%, which is greater than FSPWX's maximum drawdown of -3.84%. Use the drawdown chart below to compare losses from any high point for BORAX and FSPWX.
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Drawdown Indicators
| BORAX | FSPWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.39% | -3.84% | -10.55% |
Max Drawdown (1Y)Largest decline over 1 year | -2.23% | -1.95% | -0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -5.01% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -14.39% | — | — |
Current DrawdownCurrent decline from peak | -1.11% | -0.59% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -0.96% | -5.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 0.64% | +0.07% |
Volatility
BORAX vs. FSPWX - Volatility Comparison
CollegeAdvantage 529 Savings Plan - BlackRock Inflation Protected Bond Option (BORAX) has a higher volatility of 1.25% compared to Fidelity SAI Inflation-Protected Bond Index Fund (FSPWX) at 1.16%. This indicates that BORAX's price experiences larger fluctuations and is considered to be riskier than FSPWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BORAX | FSPWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 1.16% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 2.40% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.34% | 3.32% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.22% | 4.06% | +2.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.19% | 4.06% | +2.13% |
BORAX vs. FSPWX - Expense Ratio Comparison
BORAX has a 1.48% expense ratio, which is higher than FSPWX's 0.05% expense ratio.
Dividends
BORAX vs. FSPWX - Dividend Comparison
BORAX has not paid dividends to shareholders, while FSPWX's dividend yield for the trailing twelve months is around 3.78%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BORAX CollegeAdvantage 529 Savings Plan - BlackRock Inflation Protected Bond Option | 0.00% | 0.00% | 0.00% |
FSPWX Fidelity SAI Inflation-Protected Bond Index Fund | 3.78% | 4.19% | 0.69% |
Frequently Asked Questions
With a correlation of 0.93, BORAX and FSPWX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BORAX has higher volatility (1.25%) compared to FSPWX (1.16%). In terms of maximum drawdown, BORAX dropped -14.39% vs FSPWX's -3.84%.
FSPWX currently has the higher Sharpe Ratio (1.26 vs 1.14), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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