FJRLX vs. SHY
FJRLX (Fidelity Limited Term Bond Fund) and SHY (iShares 1-3 Year Treasury Bond ETF) are both funds - FJRLX is a Total Bond Market fund managed by Fidelity, while SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. Over the past 10 years, FJRLX returned 2.34%/yr vs 1.61%/yr for SHY. A 0.78 correlation means they provide meaningful diversification when combined. FJRLX charges 0.45%/yr vs 0.15%/yr for SHY.
Performance
FJRLX vs. SHY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FJRLX achieves a 0.54% return, which is significantly higher than SHY's 0.36% return. Over the past 10 years, FJRLX has outperformed SHY with an annualized return of 2.34%, while SHY has yielded a comparatively lower 1.61% annualized return.
FJRLX
- 1D
- 0.17%
- 1M
- 0.44%
- YTD
- 0.54%
- 6M
- 0.96%
- 1Y
- 4.24%
- 3Y*
- 5.43%
- 5Y*
- 2.13%
- 10Y*
- 2.34%
SHY
- 1D
- -0.10%
- 1M
- 0.04%
- YTD
- 0.36%
- 6M
- 0.48%
- 1Y
- 2.93%
- 3Y*
- 4.07%
- 5Y*
- 1.74%
- 10Y*
- 1.61%
FJRLX vs. SHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FJRLX Fidelity Limited Term Bond Fund | 0.54% | 6.70% | 4.62% | 6.26% | -6.22% | -1.46% | 5.16% | 6.04% | 0.71% | 1.89% |
SHY iShares 1-3 Year Treasury Bond ETF | 0.36% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.46% | 0.26% |
Correlation
The correlation between FJRLX and SHY is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2013 | 0.78 |
The correlation between FJRLX and SHY has been stable across timeframes, ranging from 0.78 to 0.87 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FJRLX vs. SHY — Risk / Return Rank
FJRLX
SHY
FJRLX vs. SHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Limited Term Bond Fund (FJRLX) and iShares 1-3 Year Treasury Bond ETF (SHY). 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.
| FJRLX | SHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.43 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | 3.31 | -0.69 |
| Martin ratioReturn relative to average drawdown | 9.75 | 12.93 | -3.19 |
Loading charts...
Drawdowns
FJRLX vs. SHY - Drawdown Comparison
The maximum FJRLX drawdown since its inception was -9.89%, which is greater than SHY's maximum drawdown of -5.71%. Use the drawdown chart below to compare losses from any high point for FJRLX and SHY.
Loading charts...
Drawdown Indicators
| FJRLX | SHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.89% | -5.71% | -4.18% |
Max Drawdown (1Y)Largest decline over 1 year | -1.63% | -0.89% | -0.74% |
Max Drawdown (3Y)Largest decline over 3 years | -1.63% | -0.97% | -0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -9.71% | -5.71% | -4.00% |
Max Drawdown (10Y)Largest decline over 10 years | -9.89% | -5.71% | -4.18% |
Current DrawdownCurrent decline from peak | -0.43% | -0.38% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -1.34% | -0.52% | -0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 0.23% | +0.21% |
Volatility
FJRLX vs. SHY - Volatility Comparison
Fidelity Limited Term Bond Fund (FJRLX) has a higher volatility of 0.81% compared to iShares 1-3 Year Treasury Bond ETF (SHY) at 0.49%. This indicates that FJRLX's price experiences larger fluctuations and is considered to be riskier than SHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FJRLX | SHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.81% | 0.49% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 1.70% | 1.01% | +0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.17% | 1.37% | +0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.77% | 1.99% | +0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.41% | 1.57% | +0.84% |
FJRLX vs. SHY - Expense Ratio Comparison
FJRLX has a 0.45% expense ratio, which is higher than SHY's 0.15% expense ratio.
Dividends
FJRLX vs. SHY - Dividend Comparison
FJRLX's dividend yield for the trailing twelve months is around 4.09%, more than SHY's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FJRLX Fidelity Limited Term Bond Fund | 4.09% | 3.93% | 3.08% | 2.38% | 1.26% | 1.25% | 2.38% | 2.44% | 2.29% | 1.79% | 1.88% | 1.60% |
SHY iShares 1-3 Year Treasury Bond ETF | 3.69% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
Frequently Asked Questions
FJRLX and SHY have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FJRLX has higher volatility (0.81%) compared to SHY (0.49%). In terms of maximum drawdown, FJRLX dropped -9.89% vs SHY's -5.71%.
SHY currently has the higher Sharpe Ratio (2.14 vs 1.96), 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.
Find the right allocation for FJRLX and SHY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer