FCNVX vs. FJTDX

Last updated Jun 28, 2026

FCNVX (Fidelity Conservative Income Bond Institutional Class) and FJTDX (Fidelity Flex Conservative Income Bond Fund) are both mutual funds - FCNVX is a Ultrashort Bond fund actively managed by Fidelity, while FJTDX is a Total Bond Market fund managed by Fidelity. Over the past 5 years, FCNVX returned 3.60%/yr vs 3.69%/yr for FJTDX. A 0.51 correlation means they provide meaningful diversification when combined. FCNVX charges 0.25%/yr vs 0.00%/yr for FJTDX.

Performance

FCNVX vs. FJTDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Conservative Income Bond Institutional Class (FCNVX) and Fidelity Flex Conservative Income Bond Fund (FJTDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCNVX achieves a 1.50% return, which is significantly lower than FJTDX's 1.59% return.

FCNVX

• 1D: 0.00%
• 1M: 0.33%
• YTD: 1.50%
• 6M: 1.85%
• 1Y: 4.14%
• 3Y*: 5.03%
• 5Y*: 3.60%
• 10Y*: 2.58%

FJTDX

• 1D: 0.00%
• 1M: 0.35%
• YTD: 1.59%
• 6M: 1.95%
• 1Y: 4.37%
• 3Y*: 5.11%
• 5Y*: 3.69%
• 10Y*: —

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

FCNVX vs. FJTDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FCNVX Fidelity Conservative Income Bond Institutional Class	1.50%	4.51%	5.43%	5.86%	0.85%	-0.06%	1.10%	3.00%	0.62%
FJTDX Fidelity Flex Conservative Income Bond Fund	1.59%	4.75%	5.69%	5.48%	1.00%	0.16%	1.57%	3.20%	0.50%

Correlation

The correlation between FCNVX and FJTDX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Aug 31, 2018	0.51

Over the past year, FCNVX and FJTDX have become more correlated (0.75) than their long-term average of 0.51, meaning their price movements have been converging.

Return for Risk

FCNVX vs. FJTDX — Risk / Return Rank

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

FCNVX

FCNVX Risk / Return Rank: 100
FCNVX Sharpe Ratio Rank: 98
FCNVX Sortino Ratio Rank: 100
FCNVX Omega Ratio Rank: 100
FCNVX Calmar Ratio Rank: 100
FCNVX Martin Ratio Rank: 100

FJTDX

FJTDX Risk / Return Rank: 99
FJTDX Sharpe Ratio Rank: 98
FJTDX Sortino Ratio Rank: 100
FJTDX Omega Ratio Rank: 100
FJTDX Calmar Ratio Rank: 100
FJTDX Martin Ratio Rank: 100

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.

FCNVX vs. FJTDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Conservative Income Bond Institutional Class (FCNVX) and Fidelity Flex Conservative Income Bond Fund (FJTDX). 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.

	FCNVX	FJTDX	Difference
Sharpe ratio: Return per unit of total volatility	3.52	3.47	+0.05
Sortino ratio: Return per unit of downside risk	23.50	17.57	+5.92
Omega ratio: Gain probability vs. loss probability	13.78	7.94	+5.84
Calmar ratio: Return relative to maximum drawdown	41.78	44.20	-2.42
Martin ratio: Return relative to average drawdown	139.38	117.17	+22.21

FCNVX vs. FJTDX - Sharpe Ratio Comparison

The current FCNVX Sharpe Ratio is 3.52, which is comparable to the FJTDX Sharpe Ratio of 3.47. The chart below compares the historical Sharpe Ratios of FCNVX and FJTDX, 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

FCNVX vs. FJTDX - Drawdown Comparison

The maximum FCNVX drawdown since its inception was -2.19%, which is greater than FJTDX's maximum drawdown of -1.90%. Use the drawdown chart below to compare losses from any high point for FCNVX and FJTDX.

Drawdown Indicators

	FCNVX	FJTDX	Difference
Max Drawdown Largest peak-to-trough decline	-2.19%	-1.90%	-0.29%
Max Drawdown (1Y) Largest decline over 1 year	-0.10%	-0.10%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-0.30%	-0.90%	+0.60%
Max Drawdown (5Y) Largest decline over 5 years	-0.59%	-0.90%	+0.31%
Max Drawdown (10Y) Largest decline over 10 years	-2.19%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.05%	-0.08%	+0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	0.04%	-0.01%

Volatility

FCNVX vs. FJTDX - Volatility Comparison

Fidelity Conservative Income Bond Institutional Class (FCNVX) and Fidelity Flex Conservative Income Bond Fund (FJTDX) have volatilities of 0.36% and 0.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCNVX	FJTDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.36%	0.35%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	0.79%	0.86%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	1.18%	1.27%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.29%	1.44%	-0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.04%	1.27%	-0.23%

FCNVX vs. FJTDX - Expense Ratio Comparison

FCNVX has a 0.25% expense ratio, which is higher than FJTDX'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

FCNVX vs. FJTDX - Dividend Comparison

FCNVX's dividend yield for the trailing twelve months is around 4.15%, less than FJTDX's 4.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCNVX Fidelity Conservative Income Bond Institutional Class	4.15%	4.41%	5.17%	4.97%	1.24%	0.24%	0.99%	2.45%	2.21%	1.30%	1.01%	0.48%
FJTDX Fidelity Flex Conservative Income Bond Fund	4.37%	4.63%	5.42%	4.70%	1.39%	0.36%	1.45%	2.65%	1.17%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCNVX and FJTDX in my portfolio?

FCNVX and FJTDX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCNVX or FJTDX?

FCNVX has higher volatility (0.36%) compared to FJTDX (0.35%). In terms of maximum drawdown, FCNVX dropped -2.19% vs FJTDX's -1.90%.

Which has better risk-adjusted returns?

FCNVX currently has the higher Sharpe Ratio (3.52 vs 3.47), 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.