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FFNYX vs. RRPAX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FFNYX vs. RRPAX

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund (FFNYX) and SEI Institutional Investments Trust Real Return Fund (RRPAX).

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. RRPAX is managed by SEI. It was launched on Dec 13, 2006.

Performance

FFNYX vs. RRPAX - 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 SEI Institutional Investments Trust Real Return Fund (RRPAX). The values are adjusted to include any dividend payments, if applicable.

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FFNYX vs. RRPAX - Yearly Performance Comparison

2026 (YTD)
FFNYX
Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund		-0.10%
RRPAX
SEI Institutional Investments Trust Real Return Fund		-0.21%

Returns By Period

FFNYX

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

RRPAX

1D
0.00%
1M
-0.11%
YTD
0.86%
6M
0.95%
1Y
3.81%
3Y*
4.34%
5Y*
3.04%
10Y*
2.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

SEI Institutional Investments Trust Real Return Fund

Often compared with FFNYX:
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Often compared with RRPAX:
RRPAX vs. FIPDXRRPAX vs. BKIPXRRPAX vs. DFAAXRRPAX vs. TIILXRRPAX vs. VTIPXRRPAX vs. VIPIXRRPAX vs. FSTZX

FFNYX vs. RRPAX - Expense Ratio Comparison

FFNYX has a 0.05% expense ratio, which is higher than RRPAX's 0.02% 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%.

FFNYX
Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund
RRPAX
SEI Institutional Investments Trust Real Return Fund

Return for Risk

FFNYX vs. RRPAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FFNYX
RRPAX
RRPAX Risk / Return Rank: 8787
Overall Rank
RRPAX Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
RRPAX Sortino Ratio Rank: 8787
Sortino Ratio Rank
RRPAX Omega Ratio Rank: 8585
Omega Ratio Rank
RRPAX Calmar Ratio Rank: 9292
Calmar Ratio Rank
RRPAX Martin Ratio Rank: 8989
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.

FFNYX vs. RRPAX - 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 SEI Institutional Investments Trust Real Return Fund (RRPAX). 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.

FFNYX vs. RRPAX - Sharpe Ratio Comparison

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Sharpe Ratios by Period

FFNYXRRPAXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

1.67

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.95

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.08

—

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.99

0.50

-1.49

Correlation

The correlation between FFNYX and RRPAX is 1.00, 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. RRPAX - Dividend Comparison

FFNYX has not paid dividends to shareholders, while RRPAX's dividend yield for the trailing twelve months is around 4.60%.

TTM2025202420232022202120202019201820172016
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%0.00%
RRPAX
SEI Institutional Investments Trust Real Return Fund		4.60%4.64%3.57%2.43%7.18%5.33%1.38%2.14%2.35%1.89%1.23%

Drawdowns

FFNYX vs. RRPAX - Drawdown Comparison

The maximum FFNYX drawdown since its inception was -0.69%, smaller than the maximum RRPAX drawdown of -16.15%. Use the drawdown chart below to compare losses from any high point for FFNYX and RRPAX.

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Drawdown Indicators

FFNYXRRPAXDifference

Max Drawdown

Largest peak-to-trough decline

-0.69%

-16.15%

+15.46%

Max Drawdown (1Y)

Largest decline over 1 year

—

-1.35%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-6.48%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-6.48%

—

Current Drawdown

Current decline from peak

-0.30%

-0.43%

+0.13%

Average Drawdown

Average peak-to-trough decline

-0.39%

-2.97%

+2.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

0.38%

—

Volatility

FFNYX vs. RRPAX - Volatility Comparison

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Volatility by Period

FFNYXRRPAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

0.70%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

1.20%

—

Volatility (1Y)

Calculated over the trailing 1-year period

2.38%

2.30%

+0.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.38%

3.23%

-0.85%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.38%

2.69%

-0.31%