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FIPDX vs. USD=X
Performance
Return for Risk
Drawdowns
Volatility

FIPDX vs. USD=X

Last updated Jun 13, 2026

FIPDX (Fidelity Inflation-Protected Bond Index Fund) is Inflation-Protected Bonds fund tracking the Bloomberg US Treasury Inflation-Protected Securities Index, while USD=X (USD Cash) is a currency. Over the past 10 years, FIPDX returned 2.58%/yr vs 0.00%/yr for USD=X.

Performance

FIPDX vs. USD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Inflation-Protected Bond Index Fund (FIPDX) and USD Cash (USD=X). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

FIPDX

1D
0.33%
1M
0.33%
YTD
1.33%
6M
1.44%
1Y
4.89%
3Y*
3.97%
5Y*
1.05%
10Y*
2.58%

USD=X

1D
0.00%
1M
0.00%
YTD
0.00%
6M
0.00%
1Y
0.00%
3Y*
0.00%
5Y*
0.00%
10Y*
0.00%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FIPDX vs. USD=X - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FIPDX
Fidelity Inflation-Protected Bond Index Fund		1.33%6.90%2.00%3.77%-12.09%5.94%10.90%8.32%-1.37%2.98%
USD=X
USD Cash		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

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Fidelity Inflation-Protected Bond Index Fund

USD Cash

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Often compared with USD=X:
USD=X vs. UUPUSD=X vs. EUR=XUSD=X vs. XRP-USDUSD=X vs. BTC-USDUSD=X vs. QQQUSD=X vs. TSLAUSD=X vs. USDX

Return for Risk

FIPDX vs. USD=X — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FIPDX
FIPDX Risk / Return Rank: 4949
Overall Rank
FIPDX Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
FIPDX Sortino Ratio Rank: 4747
Sortino Ratio Rank
FIPDX Omega Ratio Rank: 4242
Omega Ratio Rank
FIPDX Calmar Ratio Rank: 6868
Calmar Ratio Rank
FIPDX Martin Ratio Rank: 4343
Martin Ratio Rank
USD=X

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

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.

FIPDX vs. USD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Inflation-Protected Bond Index Fund (FIPDX) and USD Cash (USD=X). 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.

FIPDXUSD=XDifference
Sharpe ratioReturn per unit of total volatility
1.50

—

—

Sortino ratioReturn per unit of downside risk
2.26

—

—

Omega ratioGain probability vs. loss probability

1.27

—

—

Calmar ratioReturn relative to maximum drawdown

2.59

—

—

Martin ratioReturn relative to average drawdown

7.58

—

—

FIPDX vs. USD=X - Sharpe Ratio Comparison

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Drawdowns

FIPDX vs. USD=X - Drawdown Comparison

The maximum FIPDX drawdown since its inception was -14.32%, which is greater than USD=X's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for FIPDX and USD=X.

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Drawdown Indicators

FIPDXUSD=XDifference

Max Drawdown

Largest peak-to-trough decline

-14.32%

0.00%

-14.32%

Max Drawdown (1Y)

Largest decline over 1 year

-1.94%

0.00%

-1.94%

Max Drawdown (3Y)

Largest decline over 3 years

-4.49%

0.00%

-4.49%

Max Drawdown (5Y)

Largest decline over 5 years

-14.32%

0.00%

-14.32%

Max Drawdown (10Y)

Largest decline over 10 years

-14.32%

0.00%

-14.32%

Current Drawdown

Current decline from peak

-0.43%

0.00%

-0.43%

Average Drawdown

Average peak-to-trough decline

-4.46%

0.00%

-4.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.66%

0.00%

+0.66%

Volatility

FIPDX vs. USD=X - Volatility Comparison

Fidelity Inflation-Protected Bond Index Fund (FIPDX) has a higher volatility of 1.08% compared to USD Cash (USD=X) at 0.00%. This indicates that FIPDX's price experiences larger fluctuations and is considered to be riskier than USD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FIPDXUSD=XDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.08%

0.00%

+1.08%

Volatility (6M)

Calculated over the trailing 6-month period

2.34%

0.00%

+2.34%

Volatility (1Y)

Calculated over the trailing 1-year period

3.36%

0.00%

+3.36%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.97%

0.00%

+5.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.37%

0.00%

+5.37%

Frequently Asked Questions

FIPDX has higher volatility (1.08%) compared to USD=X (0.00%). In terms of maximum drawdown, FIPDX dropped -14.32% vs USD=X's 0.00%.

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