FISAX vs. TRSTX
FISAX (Franklin Adjustable U.S. Government Securities Fund) and TRSTX (T. Rowe Price Ultra Short-Term Bond Fund Class I) are both Ultrashort Bond funds. Over the past 5 years, FISAX returned 2.18%/yr vs 3.56%/yr for TRSTX. Their 0.28 correlation means their historical movements had little consistent relationship. FISAX charges 0.85%/yr vs 0.20%/yr for TRSTX.
Performance
FISAX vs. TRSTX - Performance Comparison
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Returns By Period
In the year-to-date period, FISAX achieves a 1.11% return, which is significantly lower than TRSTX's 1.64% return.
FISAX
- 1D
- 0.00%
- 1M
- -0.13%
- 6M
- 0.75%
- YTD
- 1.11%
- 1Y
- 3.17%
- 3Y*
- 4.72%
- 5Y*
- 2.18%
- 10Y*
- 1.55%
- ALL TIME*
- 2.84%
TRSTX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 1.06%
- YTD
- 1.64%
- 1Y
- 3.67%
- 3Y*
- 5.35%
- 5Y*
- 3.56%
- 10Y*
- —
- ALL TIME*
- 3.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FISAX vs. TRSTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FISAX Franklin Adjustable U.S. Government Securities Fund | 1.11% | 5.02% | 5.22% | 3.61% | -3.11% | -0.23% | 1.14% | 2.01% | 0.96% |
TRSTX T. Rowe Price Ultra Short-Term Bond Fund Class I | 1.64% | 5.34% | 6.41% | 5.89% | -1.20% | 0.29% | 3.19% | 3.65% | 1.60% |
Correlation
The correlation between FISAX and TRSTX is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.07 |
Correlation (3Y) Balances recent behavior with more history. | 0.26 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.28 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2018 | 0.28 |
Over the past year, the correlation between FISAX and TRSTX has dropped to 0.07 - well below their long-term average of 0.28, suggesting their price drivers have been diverging.
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Return for Risk
FISAX vs. TRSTX — Risk / Return Rank
FISAX
TRSTX
FISAX vs. TRSTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Adjustable U.S. Government Securities Fund (FISAX) and T. Rowe Price Ultra Short-Term Bond Fund Class I (TRSTX). 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.
| FISAX | TRSTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -2.24 | ||
| Omega ratioGain probability vs. loss probability | 1.98 | 3.77 | -1.79 |
| Calmar ratioReturn relative to maximum drawdown | 5.62 | 20.32 | -14.70 |
| Martin ratioReturn relative to average drawdown | 23.13 | 44.59 | -21.46 |
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Drawdowns
FISAX vs. TRSTX - Drawdown Comparison
The maximum FISAX drawdown since its inception was -4.77%, which is greater than TRSTX's maximum drawdown of -4.34%. Use the drawdown chart below to compare losses from any high point for FISAX and TRSTX.
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Drawdown Indicators
| FISAX | TRSTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.77% | -4.34% | -0.43% |
Max Drawdown (1Y)Largest decline over 1 year | -0.66% | -0.20% | -0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -0.92% | -0.59% | -0.33% |
Max Drawdown (5Y)Largest decline over 5 years | -4.67% | -2.58% | -2.09% |
Max Drawdown (10Y)Largest decline over 10 years | -4.77% | — | — |
Current DrawdownCurrent decline from peak | -0.13% | 0.00% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -0.54% | -0.30% | -0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.16% | 0.09% | +0.07% |
Volatility
FISAX vs. TRSTX - Volatility Comparison
Franklin Adjustable U.S. Government Securities Fund (FISAX) and T. Rowe Price Ultra Short-Term Bond Fund Class I (TRSTX) have volatilities of 0.30% and 0.29%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FISAX | TRSTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.30% | 0.29% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.09% | 1.07% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.59% | 1.52% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.66% | 1.66% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.58% | 1.61% | -0.03% |
FISAX vs. TRSTX - Expense Ratio Comparison
FISAX has a 0.85% expense ratio, which is higher than TRSTX's 0.20% expense ratio.
Dividends
FISAX vs. TRSTX - Dividend Comparison
FISAX's dividend yield for the trailing twelve months is around 3.94%, more than TRSTX's 3.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FISAX Franklin Adjustable U.S. Government Securities Fund | 3.94% | 4.62% | 4.81% | 3.25% | 1.41% | 0.91% | 1.89% | 2.99% | 2.51% | 1.95% | 1.52% | 1.19% |
TRSTX T. Rowe Price Ultra Short-Term Bond Fund Class I | 3.80% | 4.79% | 5.19% | 3.46% | 1.61% | 1.28% | 1.94% | 2.78% | 1.98% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FISAX and TRSTX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FISAX has higher volatility (0.30%) compared to TRSTX (0.29%). In terms of maximum drawdown, FISAX dropped -4.77% vs TRSTX's -4.34%.
TRSTX currently has the higher Sharpe Ratio (2.73 vs 2.33), 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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