FDIAX vs. FXNAX

Last updated Jun 3, 2026

FDIAX (Fidelity Advisor Limited Term Bond Fund Class A) and FXNAX (Fidelity U.S. Bond Index Fund) are both Total Bond Market funds from Fidelity. Over the past 10 years, FDIAX returned 2.04%/yr vs 1.51%/yr for FXNAX. Their correlation of 0.84 suggests significant overlap in exposure. FDIAX charges 0.75%/yr vs 0.03%/yr for FXNAX.

Performance

FDIAX vs. FXNAX - 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 U.S. Bond Index Fund (FXNAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDIAX achieves a 0.59% return, which is significantly higher than FXNAX's 0.40% return. Over the past 10 years, FDIAX has outperformed FXNAX with an annualized return of 2.04%, while FXNAX has yielded a comparatively lower 1.51% annualized return.

FDIAX

• 1D: -0.09%
• 1M: 0.15%
• YTD: 0.59%
• 6M: 0.99%
• 1Y: 4.29%
• 3Y*: 4.94%
• 5Y*: 1.74%
• 10Y*: 2.04%

FXNAX

• 1D: -0.10%
• 1M: 0.13%
• YTD: 0.40%
• 6M: 0.43%
• 1Y: 5.37%
• 3Y*: 4.02%
• 5Y*: 0.09%
• 10Y*: 1.51%

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

FDIAX vs. FXNAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDIAX Fidelity Advisor Limited Term Bond Fund Class A	0.59%	6.38%	4.09%	5.76%	-6.45%	-1.62%	4.86%	5.72%	0.40%	1.58%
FXNAX Fidelity U.S. Bond Index Fund	0.40%	7.14%	1.35%	5.82%	-13.55%	-2.10%	7.63%	8.50%	0.04%	3.50%

Correlation

The correlation between FDIAX and FXNAX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since May 5, 2011	0.84

The correlation between FDIAX and FXNAX has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.

Return for Risk

FDIAX vs. FXNAX — Risk / Return Rank

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

FDIAX

FDIAX Risk / Return Rank: 55
FDIAX Sharpe Ratio Rank: 46
FDIAX Sortino Ratio Rank: 67
FDIAX Omega Ratio Rank: 57
FDIAX Calmar Ratio Rank: 54
FDIAX Martin Ratio Rank: 51

FXNAX

FXNAX Risk / Return Rank: 20
FXNAX Sharpe Ratio Rank: 18
FXNAX Sortino Ratio Rank: 20
FXNAX Omega Ratio Rank: 18
FXNAX Calmar Ratio Rank: 24
FXNAX Martin Ratio Rank: 22

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.

FDIAX vs. FXNAX - 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 U.S. Bond Index Fund (FXNAX). 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.

	FDIAX	FXNAX	Difference
Sharpe ratio Return per unit of total volatility	2.00	1.28	+0.72
Sortino ratio Return per unit of downside risk	3.40	1.93	+1.47
Omega ratio Gain probability vs. loss probability	1.42	1.23	+0.19
Calmar ratio Return relative to maximum drawdown	2.83	1.90	+0.93
Martin ratio Return relative to average drawdown	10.52	5.85	+4.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDIAX vs. FXNAX - Sharpe Ratio Comparison

The current FDIAX Sharpe Ratio is 2.00, which is higher than the FXNAX Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of FDIAX and FXNAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FDIAX	FXNAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	1.28	+0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.01	+0.62
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.30	+0.55
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	0.45	+0.59

Drawdowns

FDIAX vs. FXNAX - Drawdown Comparison

The maximum FDIAX drawdown since its inception was -12.45%, smaller than the maximum FXNAX drawdown of -19.51%. Use the drawdown chart below to compare losses from any high point for FDIAX and FXNAX.

Drawdown Indicators

	FDIAX	FXNAX	Difference
Max Drawdown Largest peak-to-trough decline	-12.45%	-19.51%	+7.06%
Max Drawdown (1Y) Largest decline over 1 year	-1.63%	-2.94%	+1.31%
Max Drawdown (3Y) Largest decline over 3 years	-1.63%	-6.16%	+4.53%
Max Drawdown (5Y) Largest decline over 5 years	-9.99%	-18.54%	+8.55%
Max Drawdown (10Y) Largest decline over 10 years	-10.20%	-19.51%	+9.31%
Current Drawdown Current decline from peak	-0.34%	-2.89%	+2.55%
Average Drawdown Average peak-to-trough decline	-1.72%	-3.87%	+2.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	0.96%	-0.52%

Volatility

FDIAX vs. FXNAX - Volatility Comparison

The current volatility for Fidelity Advisor Limited Term Bond Fund Class A (FDIAX) is 0.73%, while Fidelity U.S. Bond Index Fund (FXNAX) has a volatility of 1.42%. This indicates that FDIAX experiences smaller price fluctuations and is considered to be less risky than FXNAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDIAX	FXNAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.73%	1.42%	-0.69%
Volatility (6M) Calculated over the trailing 6-month period	1.61%	2.82%	-1.21%
Volatility (1Y) Calculated over the trailing 1-year period	2.11%	3.98%	-1.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.76%	6.07%	-3.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.40%	5.01%	-2.61%

FDIAX vs. FXNAX - Expense Ratio Comparison

FDIAX has a 0.75% expense ratio, which is higher than FXNAX's 0.03% expense ratio.

Dividends

FDIAX vs. FXNAX - Dividend Comparison

FDIAX's dividend yield for the trailing twelve months is around 3.78%, more than FXNAX's 3.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDIAX Fidelity Advisor Limited Term Bond Fund Class A	3.78%	3.63%	2.57%	1.90%	1.03%	1.09%	2.09%	2.14%	1.99%	1.48%	1.55%	1.31%
FXNAX Fidelity U.S. Bond Index Fund	3.71%	3.58%	3.40%	3.15%	1.81%	1.74%	2.92%	2.68%	2.74%	2.57%	2.76%	2.52%

Frequently Asked Questions

Can I hold both FDIAX and FXNAX in my portfolio?

FDIAX and FXNAX have a correlation of 0.86, 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 FXNAX?

FXNAX has higher volatility (1.42%) compared to FDIAX (0.73%). In terms of maximum drawdown, FDIAX dropped -12.45% vs FXNAX's -19.51%.

Which has better risk-adjusted returns?

FDIAX currently has the higher Sharpe Ratio (2.00 vs 1.28), 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.