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FDEGX vs. TBUX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FDEGX vs. TBUX

Last updated Jul 21, 2026
Documentation

FDEGX (Fidelity Growth Strategies Fund) and TBUX (T. Rowe Price Ultra Short-Term Bond ETF) are both funds - FDEGX is a Mid Cap Growth Equities fund managed by Fidelity, while TBUX is a Ultrashort Bond fund actively managed by T. Rowe Price. Over the past 3 years, FDEGX returned 11.99%/yr vs 5.75%/yr for TBUX. At a 0.10 correlation, their price movements are largely independent. FDEGX charges 0.63%/yr vs 0.17%/yr for TBUX.

Performance

FDEGX vs. TBUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Growth Strategies Fund (FDEGX) and T. Rowe Price Ultra Short-Term Bond ETF (TBUX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FDEGX achieves a 5.33% return, which is significantly higher than TBUX's 2.21% return.

FDEGX

1D
-0.69%
1M
-7.51%
6M
-0.12%
YTD
5.33%
1Y
-5.12%
3Y*
11.99%
5Y*
6.04%
10Y*
11.34%
ALL TIME*
9.48%

TBUX

1D
0.02%
1M
0.37%
6M
2.05%
YTD
2.21%
1Y
4.64%
3Y*
5.75%
5Y*
—
10Y*
—
ALL TIME*
4.12%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FDEGX vs. TBUX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
FDEGX
Fidelity Growth Strategies Fund		5.33%2.88%26.57%20.93%-26.50%5.95%
TBUX
T. Rowe Price Ultra Short-Term Bond ETF		2.21%5.37%6.38%6.39%-0.13%-0.25%

Correlation

The correlation between FDEGX and TBUX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.16

Correlation (3Y)
Calculated over the trailing 3-year period

0.06

Correlation (All Time)
Calculated using the full available price history since Sep 29, 2021

0.10

Compare stocks, funds, or ETFs

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Fidelity Growth Strategies Fund

T. Rowe Price Ultra Short-Term Bond ETF

Often compared with FDEGX:
FDEGX vs. FDGRXFDEGX vs. FXAIXFDEGX vs. FMAGXFDEGX vs. FSLBXFDEGX vs. OLGAXFDEGX vs. FIFNXFDEGX vs. CANE
Often compared with TBUX:
TBUX vs. USTBTBUX vs. PULSTBUX vs. CSHITBUX vs. NEARTBUX vs. TRBFXTBUX vs. BINCTBUX vs. PAAA

Return for Risk

FDEGX vs. TBUX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FDEGX
FDEGX Risk / Return Rank: 22
Overall Rank
FDEGX Sharpe Ratio Rank: 22
Sharpe Ratio Rank
FDEGX Sortino Ratio Rank: 22
Sortino Ratio Rank
FDEGX Omega Ratio Rank: 22
Omega Ratio Rank
FDEGX Calmar Ratio Rank: 22
Calmar Ratio Rank
FDEGX Martin Ratio Rank: 22
Martin Ratio Rank
TBUX
TBUX Risk / Return Rank: 9999
Overall Rank
TBUX Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
TBUX Sortino Ratio Rank: 9999
Sortino Ratio Rank
TBUX Omega Ratio Rank: 9999
Omega Ratio Rank
TBUX Calmar Ratio Rank: 9999
Calmar Ratio Rank
TBUX Martin Ratio Rank: 9999
Martin Ratio Rank
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.

FDEGX vs. TBUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Growth Strategies Fund (FDEGX) and T. Rowe Price Ultra Short-Term Bond ETF (TBUX). 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.

FDEGXTBUXDifference
Sharpe ratioReturn per unit of total volatility
-0.20
7.05

-7.25

Sortino ratioReturn per unit of downside risk
-0.12
14.01

-14.13

Omega ratioGain probability vs. loss probability

0.99

3.05

-2.07

Calmar ratioReturn relative to maximum drawdown

-0.23

46.42

-46.65

Martin ratioReturn relative to average drawdown

-0.57

173.65

-174.22

FDEGX vs. TBUX - Sharpe Ratio Comparison

The current FDEGX Sharpe Ratio is -0.20, which is lower than the TBUX Sharpe Ratio of 7.05. The chart below compares the historical Sharpe Ratios of FDEGX and TBUX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FDEGX vs. TBUX - Drawdown Comparison

The maximum FDEGX drawdown since its inception was -85.96%, which is greater than TBUX's maximum drawdown of -1.82%. Use the drawdown chart below to compare losses from any high point for FDEGX and TBUX.

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Drawdown Indicators

FDEGXTBUXDifference

Max Drawdown

Largest peak-to-trough decline

-85.96%

-1.82%

-84.14%

Max Drawdown (1Y)

Largest decline over 1 year

-20.45%

-0.10%

-20.35%

Max Drawdown (3Y)

Largest decline over 3 years

-26.04%

-0.33%

-25.71%

Max Drawdown (5Y)

Largest decline over 5 years

-36.62%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-36.62%

—

—

Current Drawdown

Current decline from peak

-9.66%

0.00%

-9.66%

Average Drawdown

Average peak-to-trough decline

-36.71%

-0.28%

-36.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.20%

0.03%

+8.17%

Volatility

FDEGX vs. TBUX - Volatility Comparison

Fidelity Growth Strategies Fund (FDEGX) has a higher volatility of 6.72% compared to T. Rowe Price Ultra Short-Term Bond ETF (TBUX) at 0.16%. This indicates that FDEGX's price experiences larger fluctuations and is considered to be riskier than TBUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FDEGXTBUXDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.72%

0.16%

+6.56%

Volatility (6M)

Calculated over the trailing 6-month period

17.71%

0.48%

+17.23%

Volatility (1Y)

Calculated over the trailing 1-year period

23.41%

0.66%

+22.75%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.62%

1.06%

+22.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.16%

1.06%

+21.10%

FDEGX vs. TBUX - Expense Ratio Comparison

FDEGX has a 0.63% expense ratio, which is higher than TBUX's 0.17% expense ratio.

Dividends

FDEGX vs. TBUX - Dividend Comparison

FDEGX has not paid dividends to shareholders, while TBUX's dividend yield for the trailing twelve months is around 4.44%.

PositionTTM20252024202320222021202020192018201720162015
FDEGX
Fidelity Growth Strategies Fund		0.00%0.00%7.89%0.05%0.00%14.15%8.37%3.65%0.75%0.05%0.59%0.13%
TBUX
T. Rowe Price Ultra Short-Term Bond ETF		4.44%4.67%5.39%4.66%2.58%0.27%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

FDEGX and TBUX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FDEGX has higher volatility (6.72%) compared to TBUX (0.16%). In terms of maximum drawdown, FDEGX dropped -85.96% vs TBUX's -1.82%.

TBUX currently has the higher Sharpe Ratio (7.05 vs -0.20), 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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