FJTDX vs. FCNVX

Last updated Jun 3, 2026

FJTDX (Fidelity Flex Conservative Income Bond Fund) and FCNVX (Fidelity Conservative Income Bond Institutional Class) are both Total Bond Market funds from Fidelity. Over the past 5 years, FJTDX returned 3.69%/yr vs 3.58%/yr for FCNVX. A 0.51 correlation means they provide meaningful diversification when combined. FJTDX charges 0.00%/yr vs 0.25%/yr for FCNVX.

Performance

FJTDX vs. FCNVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Flex Conservative Income Bond Fund (FJTDX) and Fidelity Conservative Income Bond Institutional Class (FCNVX). 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 FCNVX's 1.50% return.

FJTDX

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

FCNVX

• 1D: 0.00%
• 1M: 0.33%
• YTD: 1.50%
• 6M: 1.85%
• 1Y: 4.24%
• 3Y*: 5.03%
• 5Y*: 3.58%
• 10Y*: 2.58%

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

FJTDX vs. FCNVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FJTDX Fidelity Flex Conservative Income Bond Fund	1.59%	4.75%	5.69%	5.48%	1.00%	0.16%	1.57%	3.20%	0.50%
FCNVX Fidelity Conservative Income Bond Institutional Class	1.50%	4.51%	5.43%	5.86%	0.85%	-0.06%	1.10%	3.00%	0.42%

Correlation

The correlation between FJTDX and FCNVX is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Sep 4, 2018	0.51

Over the past year, FJTDX and FCNVX have become more correlated (0.77) than their long-term average of 0.51, meaning their price movements have been converging.

Return for Risk

FJTDX vs. FCNVX — 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

FCNVX

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

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. FCNVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex Conservative Income Bond Fund (FJTDX) and Fidelity Conservative Income Bond Institutional Class (FCNVX). 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	FCNVX	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	20.39	-4.11
Omega ratio Gain probability vs. loss probability	6.97	10.74	-3.76
Calmar ratio Return relative to maximum drawdown	49.00	46.60	+2.40
Martin ratio Return relative to average drawdown	125.24	152.32	-27.07
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. FCNVX - Sharpe Ratio Comparison

The current FJTDX Sharpe Ratio is 3.45, which is comparable to the FCNVX Sharpe Ratio of 3.49. The chart below compares the historical Sharpe Ratios of FJTDX and FCNVX, 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	FCNVX	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	2.79	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	2.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.42	2.20	+0.21

Drawdowns

FJTDX vs. FCNVX - Drawdown Comparison

The maximum FJTDX drawdown since its inception was -1.90%, smaller than the maximum FCNVX drawdown of -2.19%. Use the drawdown chart below to compare losses from any high point for FJTDX and FCNVX.

Drawdown Indicators

	FJTDX	FCNVX	Difference
Max Drawdown Largest peak-to-trough decline	-1.90%	-2.19%	+0.29%
Max Drawdown (1Y) Largest decline over 1 year	-0.10%	-0.10%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-0.90%	-0.30%	-0.60%
Max Drawdown (5Y) Largest decline over 5 years	-0.90%	-0.59%	-0.31%
Max Drawdown (10Y) Largest decline over 10 years	—	-2.19%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.08%	-0.05%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.04%	0.03%	+0.01%

Volatility

FJTDX vs. FCNVX - Volatility Comparison

Fidelity Flex Conservative Income Bond Fund (FJTDX) has a higher volatility of 0.35% compared to Fidelity Conservative Income Bond Institutional Class (FCNVX) at 0.33%. This indicates that FJTDX's price experiences larger fluctuations and is considered to be riskier than FCNVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FJTDX	FCNVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.35%	0.33%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	0.92%	0.85%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	1.28%	1.19%	+0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.44%	1.29%	+0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.28%	1.04%	+0.24%

FJTDX vs. FCNVX - Expense Ratio Comparison

FJTDX has a 0.00% expense ratio, which is lower than FCNVX's 0.25% 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

FJTDX vs. FCNVX - Dividend Comparison

FJTDX's dividend yield for the trailing twelve months is around 4.37%, more than FCNVX's 4.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCNVX Fidelity Conservative Income Bond Institutional Class	4.15%	4.41%	5.17%	4.97%	1.24%	0.24%	0.99%	2.45%	2.21%	1.30%	1.01%	0.48%
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%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FJTDX and FCNVX in my portfolio?

FJTDX and FCNVX have a correlation of 0.77, 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 FCNVX?

FJTDX has higher volatility (0.35%) compared to FCNVX (0.33%). In terms of maximum drawdown, FJTDX dropped -1.90% vs FCNVX's -2.19%.

Which has better risk-adjusted returns?

FCNVX 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.