FAPDX vs. XLK

Last updated Aug 1, 2026

FAPDX (Fidelity Sustainable Low Duration Bond FundFidelity SAI Sustainable Emerging Markets Equity Fund) and XLK (State Street Technology Select Sector SPDR ETF) are both funds - FAPDX is a Ultrashort Bond fund managed by Fidelity, while XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. Over the past 3 years, FAPDX returned 4.68%/yr vs 26.04%/yr for XLK. Their 0.02 correlation means their historical movements had little consistent relationship. FAPDX charges 0.35%/yr vs 0.08%/yr for XLK.

Performance

FAPDX vs. XLK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Sustainable Low Duration Bond FundFidelity SAI Sustainable Emerging Markets Equity Fund (FAPDX) and State Street Technology Select Sector SPDR ETF (XLK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAPDX achieves a 1.75% return, which is significantly lower than XLK's 22.09% return.

FAPDX

• 1D: 0.00%
• 1M: 0.10%
• 6M: 1.38%
• YTD: 1.75%
• 1Y: 3.59%
• 3Y*: 4.68%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.00%

XLK

• 1D: -0.22%
• 1M: -2.90%
• 6M: 22.17%
• YTD: 22.09%
• 1Y: 37.14%
• 3Y*: 26.04%
• 5Y*: 18.87%
• 10Y*: 23.77%
• ALL TIME*: 10.21%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FAPDX Fidelity Sustainable Low Duration Bond FundFidelity SAI Sustainable Emerging Markets Equity Fund	$0.00	$0.00	$0.00
XLK State Street Technology Select Sector SPDR ETF	$1.61B	$1.67B	$2.22B

FAPDX vs. XLK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FAPDX Fidelity Sustainable Low Duration Bond FundFidelity SAI Sustainable Emerging Markets Equity Fund	1.75%	4.57%	5.32%	5.03%	0.57%
XLK State Street Technology Select Sector SPDR ETF	22.09%	24.61%	21.63%	56.02%	-15.20%

Correlation

The correlation between FAPDX and XLK is 0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.03
Correlation (3Y) Balances recent behavior with more history.	-0.03
Correlation (All Time) Calculated using the full available price history since Apr 13, 2022	0.02

Return for Risk

FAPDX vs. XLK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FAPDX

FAPDX Risk / Return Rank: 99
FAPDX Sharpe Ratio Rank: 99
FAPDX Sortino Ratio Rank: 99
FAPDX Omega Ratio Rank: 99
FAPDX Calmar Ratio Rank: 99
FAPDX Martin Ratio Rank: 99

XLK

XLK Risk / Return Rank: 55
XLK Sharpe Ratio Rank: 57
XLK Sortino Ratio Rank: 53
XLK Omega Ratio Rank: 52
XLK Calmar Ratio Rank: 62
XLK Martin Ratio Rank: 50

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FAPDX vs. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable Low Duration Bond FundFidelity SAI Sustainable Emerging Markets Equity Fund (FAPDX) and State Street Technology Select Sector SPDR ETF (XLK). 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.

	FAPDX	XLK	Difference
Sharpe ratio: Return per unit of total volatility	3.48	1.34	+2.14
Sortino ratio: Return per unit of downside risk	8.82	1.85	+6.97
Omega ratio: Gain probability vs. loss probability	2.93	1.23	+1.70
Calmar ratio: Return relative to maximum drawdown	13.46	2.16	+11.30
Martin ratio: Return relative to average drawdown	56.72	5.85	+50.87

FAPDX vs. XLK - Sharpe Ratio Comparison

The current FAPDX Sharpe Ratio is 3.48, which is higher than the XLK Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of FAPDX and XLK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FAPDX vs. XLK - Drawdown Comparison

The maximum FAPDX drawdown since its inception was -0.49%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for FAPDX and XLK.

Drawdown Indicators

	FAPDX	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-0.49%	-82.05%	+81.56%
Max Drawdown (1Y) Largest decline over 1 year	-0.29%	-15.92%	+15.63%
Max Drawdown (3Y) Largest decline over 3 years	-0.29%	-25.66%	+25.37%
Max Drawdown (5Y) Largest decline over 5 years	—	-33.56%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.56%	—
Current Drawdown Current decline from peak	0.00%	-11.43%	+11.43%
Average Drawdown Average peak-to-trough decline	-0.06%	-34.80%	+34.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.07%	5.86%	-5.79%

Volatility

FAPDX vs. XLK - Volatility Comparison

The current volatility for Fidelity Sustainable Low Duration Bond FundFidelity SAI Sustainable Emerging Markets Equity Fund (FAPDX) is 0.22%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 9.58%. This indicates that FAPDX experiences smaller price fluctuations and is considered to be less risky than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAPDX	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.22%	9.58%	-9.36%
Volatility (6M) Calculated over the trailing 6-month period	0.82%	21.81%	-20.99%
Volatility (1Y) Calculated over the trailing 1-year period	1.14%	25.59%	-24.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.02%	25.75%	-24.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.02%	24.90%	-23.88%

FAPDX vs. XLK - Expense Ratio Comparison

FAPDX has a 0.35% expense ratio, which is higher than XLK's 0.08% expense ratio.

Dividends

FAPDX vs. XLK - Dividend Comparison

FAPDX's dividend yield for the trailing twelve months is around 4.42%, more than XLK's 0.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAPDX Fidelity Sustainable Low Duration Bond FundFidelity SAI Sustainable Emerging Markets Equity Fund	4.42%	4.40%	4.81%	3.21%	0.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLK State Street Technology Select Sector SPDR ETF	0.45%	0.54%	0.66%	0.76%	1.04%	0.65%	0.92%	1.16%	1.60%	1.37%	1.74%	1.79%

Frequently Asked Questions

Can I hold both FAPDX and XLK in my portfolio?

FAPDX and XLK have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAPDX or XLK?

XLK has higher volatility (9.58%) compared to FAPDX (0.22%). In terms of maximum drawdown, FAPDX dropped -0.49% vs XLK's -82.05%.

Which has better risk-adjusted returns?

FAPDX currently has the higher Sharpe Ratio (3.48 vs 1.34), 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.