FBLTX vs. FZROX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity SAI Long-Term Treasury Bond Index Fund (FBLTX) and Fidelity ZERO Total Market Index Fund (FZROX).

FBLTX is managed by Fidelity. It was launched on Oct 8, 2015. FZROX is managed by Fidelity.

Performance

FBLTX vs. FZROX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI Long-Term Treasury Bond Index Fund (FBLTX) and Fidelity ZERO Total Market Index Fund (FZROX). The values are adjusted to include any dividend payments, if applicable.

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	-0.10%	4.39%	-8.05%	2.71%	-31.84%	-4.89%	18.27%	14.36%	1.77%
FZROX Fidelity ZERO Total Market Index Fund	-6.77%	17.23%	23.94%	26.20%	-19.21%	26.00%	20.51%	31.15%	-12.72%

Returns By Period

In the year-to-date period, FBLTX achieves a -0.10% return, which is significantly higher than FZROX's -6.77% return.

FBLTX

• 1D: 1.37%
• 1M: -4.30%
• YTD: -0.10%
• 6M: -1.00%
• 1Y: -0.57%
• 3Y*: -2.77%
• 5Y*: -5.77%
• 10Y*: -1.45%

FZROX

• 1D: -0.45%
• 1M: -7.71%
• YTD: -6.77%
• 6M: -4.49%
• 1Y: 14.82%
• 3Y*: 16.81%
• 5Y*: 10.36%
• 10Y*: —

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

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%.

FBLTX

Fidelity SAI Long-Term Treasury Bond Index Fund

FZROX

Fidelity ZERO Total Market Index Fund

Return for Risk

FBLTX vs. FZROX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FBLTX

FBLTX Risk / Return Rank: 7
FBLTX Sharpe Ratio Rank: 7
FBLTX Sortino Ratio Rank: 6
FBLTX Omega Ratio Rank: 6
FBLTX Calmar Ratio Rank: 10
FBLTX Martin Ratio Rank: 8

FZROX

FZROX Risk / Return Rank: 46
FZROX Sharpe Ratio Rank: 41
FZROX Sortino Ratio Rank: 45
FZROX Omega Ratio Rank: 49
FZROX Calmar Ratio Rank: 41
FZROX Martin Ratio Rank: 53

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

	FBLTX	FZROX	Difference
Sharpe ratio Return per unit of total volatility	0.07	0.84	-0.77
Sortino ratio Return per unit of downside risk	0.17	1.30	-1.13
Omega ratio Gain probability vs. loss probability	1.02	1.20	-0.18
Calmar ratio Return relative to maximum drawdown	0.19	1.05	-0.86
Martin ratio Return relative to average drawdown	0.41	5.11	-4.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBLTX vs. FZROX - Sharpe Ratio Comparison

The current FBLTX Sharpe Ratio is 0.07, which is lower than the FZROX Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of FBLTX and FZROX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FBLTX	FZROX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.07	0.84	-0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.37	0.60	-0.97
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.10	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.61	-0.66

Correlation

The correlation between FBLTX and FZROX is -0.08. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

FBLTX vs. FZROX - Dividend Comparison

FBLTX's dividend yield for the trailing twelve months is around 3.74%, more than FZROX's 1.10% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBLTX Fidelity SAI Long-Term Treasury Bond Index Fund	3.74%	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	1.10%	1.02%	1.16%	1.36%	1.57%	1.25%	1.27%	1.51%	0.00%	0.00%	0.00%	0.00%

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.

Drawdown Indicators

	FBLTX	FZROX	Difference
Max Drawdown Largest peak-to-trough decline	-49.06%	-34.96%	-14.10%
Max Drawdown (1Y) Largest decline over 1 year	-9.51%	-12.44%	+2.93%
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 Drawdown Current decline from peak	-41.02%	-8.89%	-32.13%
Average Drawdown Average peak-to-trough decline	-20.65%	-5.61%	-15.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.47%	2.56%	+1.91%

Volatility

FBLTX vs. FZROX - Volatility Comparison

The current volatility for Fidelity SAI Long-Term Treasury Bond Index Fund (FBLTX) is 3.80%, while Fidelity ZERO Total Market Index Fund (FZROX) has a volatility of 4.41%. 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.

Volatility by Period

	FBLTX	FZROX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	4.41%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	6.63%	9.34%	-2.71%
Volatility (1Y) Calculated over the trailing 1-year period	11.51%	18.49%	-6.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.72%	17.40%	-1.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.62%	20.25%	-5.63%