FIFZX vs. FYBTX
FIFZX (Fidelity Series Bond Index Fund) and FYBTX (Fidelity Series Short-Term Credit Fund) are both Total Bond Market funds from Fidelity. Over the past 5 years, FIFZX returned -0.21%/yr vs 2.78%/yr for FYBTX. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.00% expense ratio.
Performance
FIFZX vs. FYBTX - Performance Comparison
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Returns By Period
In the year-to-date period, FIFZX achieves a 0.12% return, which is significantly lower than FYBTX's 1.18% return.
FIFZX
- 1D
- 0.11%
- 1M
- -0.22%
- 6M
- -0.09%
- YTD
- 0.12%
- 1Y
- 4.07%
- 3Y*
- 4.32%
- 5Y*
- -0.21%
- 10Y*
- —
FYBTX
- 1D
- 0.10%
- 1M
- 0.26%
- 6M
- 1.18%
- YTD
- 1.18%
- 1Y
- 4.09%
- 3Y*
- 5.35%
- 5Y*
- 2.78%
- 10Y*
- 2.56%
FIFZX vs. FYBTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FIFZX Fidelity Series Bond Index Fund | 0.12% | 7.15% | 1.41% | 5.54% | -13.46% | -1.96% | 7.65% | 5.12% |
FYBTX Fidelity Series Short-Term Credit Fund | 1.18% | 5.72% | 5.13% | 6.08% | -3.50% | -0.54% | 3.99% | 3.22% |
Correlation
The correlation between FIFZX and FYBTX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2019 | 0.74 |
The correlation between FIFZX and FYBTX has been stable across timeframes, ranging from 0.74 to 0.79 - a consistent structural relationship.
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Return for Risk
FIFZX vs. FYBTX — Risk / Return Rank
FIFZX
FYBTX
FIFZX vs. FYBTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Bond Index Fund (FIFZX) and Fidelity Series Short-Term Credit Fund (FYBTX). 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.
| FIFZX | FYBTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -2.58 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.56 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 3.36 | -2.08 |
| Martin ratioReturn relative to average drawdown | 3.55 | 13.49 | -9.94 |
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Drawdowns
FIFZX vs. FYBTX - Drawdown Comparison
The maximum FIFZX drawdown since its inception was -19.27%, which is greater than FYBTX's maximum drawdown of -6.00%. Use the drawdown chart below to compare losses from any high point for FIFZX and FYBTX.
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Drawdown Indicators
| FIFZX | FYBTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.27% | -6.00% | -13.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -1.19% | -1.72% |
Max Drawdown (3Y)Largest decline over 3 years | -6.12% | -1.19% | -4.93% |
Max Drawdown (5Y)Largest decline over 5 years | -18.47% | -6.00% | -12.47% |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.00% | — |
Current DrawdownCurrent decline from peak | -3.07% | -0.10% | -2.97% |
Average DrawdownAverage peak-to-trough decline | -6.65% | -0.71% | -5.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.30% | +0.75% |
Volatility
FIFZX vs. FYBTX - Volatility Comparison
Fidelity Series Bond Index Fund (FIFZX) has a higher volatility of 1.13% compared to Fidelity Series Short-Term Credit Fund (FYBTX) at 0.46%. This indicates that FIFZX's price experiences larger fluctuations and is considered to be riskier than FYBTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIFZX | FYBTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 0.46% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 1.37% | +1.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.89% | 1.86% | +2.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.08% | 2.20% | +3.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.61% | 1.92% | +3.69% |
FIFZX vs. FYBTX - Expense Ratio Comparison
FIFZX has a 0.00% expense ratio, which is lower than FYBTX's 0.00% 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%.
Dividends
FIFZX vs. FYBTX - Dividend Comparison
FIFZX's dividend yield for the trailing twelve months is around 4.04%, less than FYBTX's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FIFZX Fidelity Series Bond Index Fund | 4.04% | 3.87% | 3.66% | 3.09% | 1.74% | 1.42% | 3.20% | 1.64% | 0.00% | 0.00% | 0.00% |
FYBTX Fidelity Series Short-Term Credit Fund | 4.74% | 4.66% | 3.67% | 2.76% | 1.26% | 1.65% | 2.31% | 2.72% | 2.45% | 1.59% | 1.24% |
Frequently Asked Questions
FIFZX and FYBTX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIFZX has higher volatility (1.13%) compared to FYBTX (0.46%). In terms of maximum drawdown, FIFZX dropped -19.27% vs FYBTX's -6.00%.
FYBTX currently has the higher Sharpe Ratio (2.15 vs 0.96), 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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