FBNDX vs. FSMOX
FBNDX (Fidelity Investment Grade Bond Fund) and FSMOX (Fidelity SAI Investment Grade Securitized Fund) are both Intermediate Core Bond funds from Fidelity. Over the past 3 years, FBNDX returned 4.18%/yr vs 4.20%/yr for FSMOX. Their correlation of 0.95 suggests significant overlap in exposure. FBNDX charges 0.45%/yr vs 0.33%/yr for FSMOX.
Performance
FBNDX vs. FSMOX - Performance Comparison
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Returns By Period
In the year-to-date period, FBNDX achieves a 0.62% return, which is significantly lower than FSMOX's 1.18% return.
FBNDX
- 1D
- 0.42%
- 1M
- 0.89%
- YTD
- 0.62%
- 6M
- 0.80%
- 1Y
- 4.25%
- 3Y*
- 4.18%
- 5Y*
- 0.13%
- 10Y*
- 2.11%
FSMOX
- 1D
- 0.51%
- 1M
- 0.80%
- YTD
- 1.18%
- 6M
- 1.31%
- 1Y
- 6.05%
- 3Y*
- 4.20%
- 5Y*
- —
- 10Y*
- —
FBNDX vs. FSMOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FBNDX Fidelity Investment Grade Bond Fund | 0.62% | 7.37% | 0.93% | 3.41% |
FSMOX Fidelity SAI Investment Grade Securitized Fund | 1.18% | 8.52% | 1.45% | 1.16% |
Correlation
The correlation between FBNDX and FSMOX is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since May 17, 2023 | 0.95 |
The correlation between FBNDX and FSMOX has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.
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Return for Risk
FBNDX vs. FSMOX — Risk / Return Rank
FBNDX
FSMOX
FBNDX vs. FSMOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Investment Grade Bond Fund (FBNDX) and Fidelity SAI Investment Grade Securitized Fund (FSMOX). 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.
| FBNDX | FSMOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.28 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 2.19 | -0.77 |
| Martin ratioReturn relative to average drawdown | 3.93 | 6.65 | -2.72 |
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Drawdowns
FBNDX vs. FSMOX - Drawdown Comparison
The maximum FBNDX drawdown since its inception was -42.76%, which is greater than FSMOX's maximum drawdown of -8.65%. Use the drawdown chart below to compare losses from any high point for FBNDX and FSMOX.
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Drawdown Indicators
| FBNDX | FSMOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.76% | -8.65% | -34.11% |
Max Drawdown (1Y)Largest decline over 1 year | -3.02% | -2.84% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -6.09% | -8.47% | +2.38% |
Max Drawdown (5Y)Largest decline over 5 years | -18.74% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -18.74% | — | — |
Current DrawdownCurrent decline from peak | -1.35% | -0.96% | -0.39% |
Average DrawdownAverage peak-to-trough decline | -10.33% | -1.75% | -8.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 0.93% | +0.15% |
Volatility
FBNDX vs. FSMOX - Volatility Comparison
The current volatility for Fidelity Investment Grade Bond Fund (FBNDX) is 1.24%, while Fidelity SAI Investment Grade Securitized Fund (FSMOX) has a volatility of 1.32%. This indicates that FBNDX experiences smaller price fluctuations and is considered to be less risky than FSMOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBNDX | FSMOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.32% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 2.98% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 4.03% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.04% | 6.18% | -0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.03% | 6.18% | -1.15% |
FBNDX vs. FSMOX - Expense Ratio Comparison
FBNDX has a 0.45% expense ratio, which is higher than FSMOX's 0.33% expense ratio.
Dividends
FBNDX vs. FSMOX - Dividend Comparison
FBNDX's dividend yield for the trailing twelve months is around 3.90%, less than FSMOX's 4.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBNDX Fidelity Investment Grade Bond Fund | 3.90% | 3.87% | 3.34% | 3.56% | 1.98% | 1.34% | 4.70% | 2.75% | 2.86% | 2.18% | 2.72% | 2.66% |
FSMOX Fidelity SAI Investment Grade Securitized Fund | 4.45% | 4.44% | 5.07% | 1.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, FBNDX and FSMOX 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.
FSMOX has higher volatility (1.32%) compared to FBNDX (1.24%). In terms of maximum drawdown, FBNDX dropped -42.76% vs FSMOX's -8.65%.
FSMOX currently has the higher Sharpe Ratio (1.54 vs 1.05), 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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