FBLTX vs. FZROX
FBLTX (Fidelity SAI Long-Term Treasury Bond Index Fund) and FZROX (Fidelity ZERO Total Market Index Fund) are both mutual funds - FBLTX is a Government Bonds fund managed by Fidelity, while FZROX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, FBLTX returned -8.31%/yr vs 11.84%/yr for FZROX. Their -0.06 correlation means they have often moved in opposite directions in the past. FBLTX charges 0.03%/yr vs 0.00%/yr for FZROX.
Performance
FBLTX vs. FZROX - Performance Comparison
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Returns By Period
In the year-to-date period, FBLTX achieves a -3.37% return, which is significantly lower than FZROX's 9.94% return.
FBLTX
- 1D
- -0.16%
- 1M
- -3.63%
- 6M
- -3.28%
- YTD
- -3.37%
- 1Y
- -2.17%
- 3Y*
- -2.29%
- 5Y*
- -8.31%
- 10Y*
- -2.52%
- ALL TIME*
- -1.05%
FZROX
- 1D
- 1.64%
- 1M
- -0.73%
- 6M
- 8.29%
- YTD
- 9.94%
- 1Y
- 21.21%
- 3Y*
- 18.70%
- 5Y*
- 11.84%
- 10Y*
- —
- ALL TIME*
- 13.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FBLTX vs. FZROX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FBLTX Fidelity SAI Long-Term Treasury Bond Index Fund | -3.37% | 4.39% | -8.05% | 2.71% | -31.84% | -4.89% | 18.27% | 14.36% | 1.77% |
FZROX Fidelity ZERO Total Market Index Fund | 9.94% | 17.23% | 23.94% | 26.20% | -19.21% | 26.00% | 20.51% | 31.15% | -12.72% |
Correlation
The correlation between FBLTX and FZROX is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.09 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018 | -0.06 |
The correlation between FBLTX and FZROX shifts across timeframes, from -0.06 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FBLTX vs. FZROX — Risk / Return Rank
FBLTX
FZROX
FBLTX vs. FZROX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Long-Term Treasury Bond Index Fund (FBLTX) and Fidelity ZERO Total Market Index Fund (FZROX). 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.
| FBLTX | FZROX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.47 | ||
| Sortino ratioReturn per unit of downside risk | -1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.26 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 2.12 | -2.16 |
| Martin ratioReturn relative to average drawdown | -0.10 | 9.14 | -9.25 |
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Drawdowns
FBLTX vs. FZROX - Drawdown Comparison
The maximum FBLTX drawdown since its inception was -49.06%, which is greater than FZROX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for FBLTX and FZROX.
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Drawdown Indicators
| FBLTX | FZROX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.06% | -34.96% | -14.10% |
Max Drawdown (1Y)Largest decline over 1 year | -7.66% | -8.89% | +1.23% |
Max Drawdown (3Y)Largest decline over 3 years | -14.75% | -19.38% | +4.63% |
Max Drawdown (5Y)Largest decline over 5 years | -44.19% | -25.12% | -19.07% |
Max Drawdown (10Y)Largest decline over 10 years | -49.06% | — | — |
Current DrawdownCurrent decline from peak | -42.95% | -1.85% | -41.10% |
Average DrawdownAverage peak-to-trough decline | -21.28% | -5.43% | -15.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.54% | 2.06% | +1.48% |
Volatility
FBLTX vs. FZROX - Volatility Comparison
The current volatility for Fidelity SAI Long-Term Treasury Bond Index Fund (FBLTX) is 2.48%, while Fidelity ZERO Total Market Index Fund (FZROX) has a volatility of 3.43%. This indicates that FBLTX experiences smaller price fluctuations and is considered to be less risky than FZROX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBLTX | FZROX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.48% | 3.43% | -0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 6.79% | 10.34% | -3.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.26% | 13.19% | -3.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.57% | 17.54% | -1.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.51% | 20.04% | -5.53% |
FBLTX vs. FZROX - Expense Ratio Comparison
FBLTX has a 0.03% expense ratio, which is higher than FZROX's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FBLTX vs. FZROX - Dividend Comparison
FBLTX's dividend yield for the trailing twelve months is around 3.97%, more than FZROX's 0.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBLTX Fidelity SAI Long-Term Treasury Bond Index Fund | 3.97% | 4.04% | 3.60% | 3.29% | 2.25% | 1.81% | 6.73% | 2.39% | 2.87% | 2.68% | 3.70% | 0.39% |
FZROX Fidelity ZERO Total Market Index Fund | 0.93% | 1.02% | 1.16% | 1.36% | 1.57% | 1.25% | 1.27% | 1.51% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FBLTX and FZROX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FZROX has higher volatility (3.43%) compared to FBLTX (2.48%). In terms of maximum drawdown, FBLTX dropped -49.06% vs FZROX's -34.96%.
FZROX currently has the higher Sharpe Ratio (1.43 vs -0.04), 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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