FDIAX vs. FSHBX

Last updated Aug 4, 2026

FDIAX (Fidelity Advisor Limited Term Bond Fund Class A) and FSHBX (Fidelity Short-Term Bond Fund) are both mutual funds - FDIAX is a Total Bond Market fund managed by Fidelity, while FSHBX is a Short-Term Bond fund actively managed by Fidelity. Over the past 10 years, FDIAX returned 1.93%/yr vs 2.07%/yr for FSHBX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. FDIAX charges 0.75%/yr vs 0.30%/yr for FSHBX.

Performance

FDIAX vs. FSHBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Limited Term Bond Fund Class A (FDIAX) and Fidelity Short-Term Bond Fund (FSHBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDIAX achieves a 0.29% return, which is significantly lower than FSHBX's 0.53% return. Over the past 10 years, FDIAX has underperformed FSHBX with an annualized return of 1.93%, while FSHBX has yielded a comparatively higher 2.07% annualized return.

FDIAX

• 1D: 0.00%
• 1M: -0.44%
• 6M: 0.07%
• YTD: 0.29%
• 1Y: 2.46%
• 3Y*: 4.71%
• 5Y*: 1.63%
• 10Y*: 1.93%
• ALL TIME*: 3.20%

FSHBX

• 1D: -0.12%
• 1M: -0.24%
• 6M: 0.31%
• YTD: 0.53%
• 1Y: 2.49%
• 3Y*: 4.63%
• 5Y*: 2.20%
• 10Y*: 2.07%
• ALL TIME*: 3.19%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FDIAX Fidelity Advisor Limited Term Bond Fund Class A	$0.00	$0.00	$0.00
FSHBX Fidelity Short-Term Bond Fund	$0.00	$0.00	$0.00

FDIAX vs. FSHBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDIAX Fidelity Advisor Limited Term Bond Fund Class A	0.29%	6.38%	4.09%	5.76%	-6.45%	-1.62%	4.86%	5.72%	0.40%	1.58%
FSHBX Fidelity Short-Term Bond Fund	0.53%	5.49%	4.73%	5.35%	-3.86%	-0.92%	3.59%	4.20%	1.21%	1.16%

Correlation

The correlation between FDIAX and FSHBX is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.77
Correlation (3Y) Balances recent behavior with more history.	0.82
Correlation (5Y) Shows whether the relationship held over a longer period.	0.85
Correlation (10Y) Provides a long-term view across more market conditions.	0.78
Correlation (All Time) Calculated using the full available price history since Dec 31, 1993	0.73

The correlation between FDIAX and FSHBX shifts across timeframes, from 0.73 (all time) to 0.85 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FDIAX vs. FSHBX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FDIAX

FDIAX Risk / Return Rank: 47
FDIAX Sharpe Ratio Rank: 45
FDIAX Sortino Ratio Rank: 57
FDIAX Omega Ratio Rank: 55
FDIAX Calmar Ratio Rank: 40
FDIAX Martin Ratio Rank: 39

FSHBX

FSHBX Risk / Return Rank: 70
FSHBX Sharpe Ratio Rank: 55
FSHBX Sortino Ratio Rank: 75
FSHBX Omega Ratio Rank: 77
FSHBX Calmar Ratio Rank: 72
FSHBX Martin Ratio Rank: 68

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FDIAX vs. FSHBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Limited Term Bond Fund Class A (FDIAX) and Fidelity Short-Term Bond Fund (FSHBX). 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.

	FDIAX	FSHBX	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.52	-0.12
Sortino ratio: Return per unit of downside risk	2.24	2.62	-0.38
Omega ratio: Gain probability vs. loss probability	1.29	1.36	-0.07
Calmar ratio: Return relative to maximum drawdown	1.79	2.45	-0.66
Martin ratio: Return relative to average drawdown	6.16	9.02	-2.86

FDIAX vs. FSHBX - Sharpe Ratio Comparison

The current FDIAX Sharpe Ratio is 1.40, which is comparable to the FSHBX Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of FDIAX and FSHBX, 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

FDIAX vs. FSHBX - Drawdown Comparison

The maximum FDIAX drawdown since its inception was -12.45%, which is greater than FSHBX's maximum drawdown of -8.80%. Use the drawdown chart below to compare losses from any high point for FDIAX and FSHBX.

Drawdown Indicators

	FDIAX	FSHBX	Difference
Max Drawdown Largest peak-to-trough decline	-12.45%	-8.80%	-3.65%
Max Drawdown (1Y) Largest decline over 1 year	-1.63%	-1.17%	-0.46%
Max Drawdown (3Y) Largest decline over 3 years	-1.63%	-1.17%	-0.46%
Max Drawdown (5Y) Largest decline over 5 years	-9.83%	-6.30%	-3.53%
Max Drawdown (10Y) Largest decline over 10 years	-10.20%	-6.51%	-3.69%
Current Drawdown Current decline from peak	-0.63%	-0.36%	-0.27%
Average Drawdown Average peak-to-trough decline	-1.71%	-1.04%	-0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.47%	0.32%	+0.15%

Volatility

FDIAX vs. FSHBX - Volatility Comparison

Fidelity Advisor Limited Term Bond Fund Class A (FDIAX) and Fidelity Short-Term Bond Fund (FSHBX) have volatilities of 0.45% and 0.45%, 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

	FDIAX	FSHBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.45%	0.45%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	1.72%	1.45%	+0.27%
Volatility (1Y) Calculated over the trailing 1-year period	2.10%	1.92%	+0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.77%	2.23%	+0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.40%	1.86%	+0.54%

FDIAX vs. FSHBX - Expense Ratio Comparison

FDIAX has a 0.75% expense ratio, which is higher than FSHBX's 0.30% expense ratio.

Dividends

FDIAX vs. FSHBX - Dividend Comparison

FDIAX's dividend yield for the trailing twelve months is around 3.51%, less than FSHBX's 3.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDIAX Fidelity Advisor Limited Term Bond Fund Class A	3.51%	3.63%	2.57%	1.90%	1.03%	1.09%	2.09%	2.14%	1.99%	1.48%	1.55%	1.31%
FSHBX Fidelity Short-Term Bond Fund	3.80%	4.26%	4.00%	3.00%	0.83%	1.04%	2.62%	2.13%	1.78%	1.27%	1.12%	0.88%

Frequently Asked Questions

Can I hold both FDIAX and FSHBX in my portfolio?

FDIAX and FSHBX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDIAX or FSHBX?

FSHBX has higher volatility (0.45%) compared to FDIAX (0.45%). In terms of maximum drawdown, FDIAX dropped -12.45% vs FSHBX's -8.80%.

Which has better risk-adjusted returns?

FSHBX currently has the higher Sharpe Ratio (1.52 vs 1.40), 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.