FFNYX vs. BIIPX

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund (FFNYX) and iShares Short-Term TIPS Bond Index Fund (BIIPX).

FFNYX is a passively managed fund by Fidelity that tracks the performance of the Bloomberg US Treasury 0-5 Year TIPS Index. It was launched on Nov 4, 2025. BIIPX is managed by BlackRock. It was launched on Feb 15, 2016.

Performance

FFNYX vs. BIIPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund (FFNYX) and iShares Short-Term TIPS Bond Index Fund (BIIPX). The values are adjusted to include any dividend payments, if applicable.

FFNYX vs. BIIPX - Yearly Performance Comparison

	2026 (YTD)
FFNYX Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund	-0.10%
BIIPX iShares Short-Term TIPS Bond Index Fund	-0.31%

Returns By Period

FFNYX

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BIIPX

• 1D: 0.00%
• 1M: -0.10%
• YTD: 0.73%
• 6M: 1.05%
• 1Y: 3.76%
• 3Y*: 4.19%
• 5Y*: 2.88%
• 10Y*: —

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

FFNYX vs. BIIPX - Expense Ratio Comparison

FFNYX has a 0.05% expense ratio, which is lower than BIIPX's 0.08% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

BIIPX

iShares Short-Term TIPS Bond Index Fund

FFNYX

Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund

Return for Risk

FFNYX vs. BIIPX — Risk / Return Rank

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

BIIPX

BIIPX Risk / Return Rank: 88
BIIPX Sharpe Ratio Rank: 80
BIIPX Sortino Ratio Rank: 89
BIIPX Omega Ratio Rank: 83
BIIPX Calmar Ratio Rank: 97
BIIPX Martin Ratio Rank: 91

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.

FFNYX vs. BIIPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund (FFNYX) and iShares Short-Term TIPS Bond Index Fund (BIIPX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FFNYX	BIIPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.54	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.94	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.99	1.10	-2.09

Correlation

The correlation between FFNYX and BIIPX is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FFNYX vs. BIIPX - Dividend Comparison

FFNYX has not paid dividends to shareholders, while BIIPX's dividend yield for the trailing twelve months is around 3.57%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFNYX Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BIIPX iShares Short-Term TIPS Bond Index Fund	3.57%	4.64%	4.30%	2.65%	4.56%	4.39%	1.58%	2.27%	2.74%	1.89%

Drawdowns

FFNYX vs. BIIPX - Drawdown Comparison

The maximum FFNYX drawdown since its inception was -0.69%, smaller than the maximum BIIPX drawdown of -6.46%. Use the drawdown chart below to compare losses from any high point for FFNYX and BIIPX.

Drawdown Indicators

	FFNYX	BIIPX	Difference
Max Drawdown Largest peak-to-trough decline	-0.69%	-6.46%	+5.77%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.12%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-6.46%	—
Current Drawdown Current decline from peak	-0.30%	-0.51%	+0.21%
Average Drawdown Average peak-to-trough decline	-0.39%	-1.09%	+0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.40%	—

Volatility

Volatility by Period

	FFNYX	BIIPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.56%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.28%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.38%	2.53%	-0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.38%	3.07%	-0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.38%	2.63%	-0.25%