FJTDX vs. BSNSX

Last updated Jun 3, 2026

FJTDX (Fidelity Flex Conservative Income Bond Fund) and BSNSX (Baird Strategic Municipal Bond Fund) are both mutual funds - FJTDX is a Total Bond Market fund managed by Fidelity, while BSNSX is a Municipal Bonds fund managed by Baird. Over the past 5 years, FJTDX returned 3.69%/yr vs 2.07%/yr for BSNSX. At a 0.18 correlation, their price movements are largely independent. FJTDX charges 0.00%/yr vs 0.55%/yr for BSNSX.

Performance

FJTDX vs. BSNSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Flex Conservative Income Bond Fund (FJTDX) and Baird Strategic Municipal Bond Fund (BSNSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FJTDX achieves a 1.59% return, which is significantly higher than BSNSX's 1.29% return.

FJTDX

• 1D: 0.00%
• 1M: 0.35%
• YTD: 1.59%
• 6M: 1.95%
• 1Y: 4.37%
• 3Y*: 5.11%
• 5Y*: 3.69%
• 10Y*: —

BSNSX

• 1D: 0.00%
• 1M: 0.30%
• YTD: 1.29%
• 6M: 1.69%
• 1Y: 5.76%
• 3Y*: 4.41%
• 5Y*: 2.07%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FJTDX vs. BSNSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FJTDX Fidelity Flex Conservative Income Bond Fund	1.59%	4.75%	5.69%	5.48%	1.00%	0.16%	1.57%	0.38%
BSNSX Baird Strategic Municipal Bond Fund	1.29%	4.83%	2.92%	6.53%	-5.54%	2.00%	8.13%	0.85%

Correlation

The correlation between FJTDX and BSNSX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (All Time) Calculated using the full available price history since Nov 18, 2019	0.18

Return for Risk

FJTDX vs. BSNSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FJTDX

FJTDX Risk / Return Rank: 99
FJTDX Sharpe Ratio Rank: 96
FJTDX Sortino Ratio Rank: 100
FJTDX Omega Ratio Rank: 100
FJTDX Calmar Ratio Rank: 100
FJTDX Martin Ratio Rank: 100

BSNSX

BSNSX Risk / Return Rank: 82
BSNSX Sharpe Ratio Rank: 96
BSNSX Sortino Ratio Rank: 96
BSNSX Omega Ratio Rank: 97
BSNSX Calmar Ratio Rank: 65
BSNSX Martin Ratio Rank: 56

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.

FJTDX vs. BSNSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex Conservative Income Bond Fund (FJTDX) and Baird Strategic Municipal Bond Fund (BSNSX). 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.

	FJTDX	BSNSX	Difference
Sharpe ratio Return per unit of total volatility	3.45	3.49	-0.04
Sortino ratio Return per unit of downside risk	16.28	5.30	+10.97
Omega ratio Gain probability vs. loss probability	6.97	1.93	+5.05
Calmar ratio Return relative to maximum drawdown	49.00	3.13	+45.87
Martin ratio Return relative to average drawdown	125.24	11.34	+113.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FJTDX vs. BSNSX - Sharpe Ratio Comparison

The current FJTDX Sharpe Ratio is 3.45, which is comparable to the BSNSX Sharpe Ratio of 3.49. The chart below compares the historical Sharpe Ratios of FJTDX and BSNSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FJTDX	BSNSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.45	3.49	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.58	0.78	+1.80
Sharpe Ratio (All Time) Calculated using the full available price history	2.42	0.94	+1.48

Drawdowns

FJTDX vs. BSNSX - Drawdown Comparison

The maximum FJTDX drawdown since its inception was -1.90%, smaller than the maximum BSNSX drawdown of -9.77%. Use the drawdown chart below to compare losses from any high point for FJTDX and BSNSX.

Drawdown Indicators

	FJTDX	BSNSX	Difference
Max Drawdown Largest peak-to-trough decline	-1.90%	-9.77%	+7.87%
Max Drawdown (1Y) Largest decline over 1 year	-0.10%	-1.81%	+1.71%
Max Drawdown (3Y) Largest decline over 3 years	-0.90%	-3.54%	+2.64%
Max Drawdown (5Y) Largest decline over 5 years	-0.90%	-9.77%	+8.87%
Current Drawdown Current decline from peak	0.00%	-0.48%	+0.48%
Average Drawdown Average peak-to-trough decline	-0.08%	-1.58%	+1.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.04%	0.50%	-0.46%

Volatility

FJTDX vs. BSNSX - Volatility Comparison

The current volatility for Fidelity Flex Conservative Income Bond Fund (FJTDX) is 0.35%, while Baird Strategic Municipal Bond Fund (BSNSX) has a volatility of 0.63%. This indicates that FJTDX experiences smaller price fluctuations and is considered to be less risky than BSNSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FJTDX	BSNSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.35%	0.63%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	0.92%	1.26%	-0.34%
Volatility (1Y) Calculated over the trailing 1-year period	1.28%	1.63%	-0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.44%	2.67%	-1.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.28%	3.36%	-2.08%

FJTDX vs. BSNSX - Expense Ratio Comparison

FJTDX has a 0.00% expense ratio, which is lower than BSNSX's 0.55% expense ratio.

Dividends

FJTDX vs. BSNSX - Dividend Comparison

FJTDX's dividend yield for the trailing twelve months is around 4.37%, more than BSNSX's 3.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BSNSX Baird Strategic Municipal Bond Fund	3.35%	3.32%	3.28%	2.99%	1.84%	1.33%	1.99%	0.15%	0.00%
FJTDX Fidelity Flex Conservative Income Bond Fund	4.37%	4.63%	5.42%	4.70%	1.39%	0.36%	1.45%	2.65%	1.17%

Frequently Asked Questions

Can I hold both FJTDX and BSNSX in my portfolio?

FJTDX and BSNSX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FJTDX or BSNSX?

BSNSX has higher volatility (0.63%) compared to FJTDX (0.35%). In terms of maximum drawdown, FJTDX dropped -1.90% vs BSNSX's -9.77%.

Which has better risk-adjusted returns?

BSNSX currently has the higher Sharpe Ratio (3.49 vs 3.45), 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.