FNDSX vs. FANCX

Last updated Jul 14, 2026

FNDSX (Fidelity Sustainability Bond Index Fund) and FANCX (Fidelity Advisor Short-Term Bond Fund Class C) are both Total Bond Market funds from Fidelity. Over the past 5 years, FNDSX returned -0.29%/yr vs 1.21%/yr for FANCX. A 0.72 correlation means they provide meaningful diversification when combined. FNDSX charges 0.10%/yr vs 1.51%/yr for FANCX.

Performance

FNDSX vs. FANCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Sustainability Bond Index Fund (FNDSX) and Fidelity Advisor Short-Term Bond Fund Class C (FANCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNDSX achieves a 0.10% return, which is significantly lower than FANCX's 0.11% return.

FNDSX

• 1D: -0.11%
• 1M: -0.21%
• 6M: -0.01%
• YTD: 0.10%
• 1Y: 3.90%
• 3Y*: 4.14%
• 5Y*: -0.29%
• 10Y*: —

FANCX

• 1D: 0.00%
• 1M: 0.12%
• 6M: 0.23%
• YTD: 0.11%
• 1Y: 2.26%
• 3Y*: 3.68%
• 5Y*: 1.21%
• 10Y*: —

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

FNDSX vs. FANCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FNDSX Fidelity Sustainability Bond Index Fund	0.10%	7.03%	1.23%	5.44%	-13.34%	-2.22%	6.95%	8.30%	1.89%
FANCX Fidelity Advisor Short-Term Bond Fund Class C	0.11%	4.38%	3.74%	3.91%	-4.63%	-1.81%	2.74%	2.90%	0.84%

Correlation

The correlation between FNDSX and FANCX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jun 19, 2018	0.72

The correlation between FNDSX and FANCX has been stable across timeframes, ranging from 0.72 to 0.76 - a consistent structural relationship.

Return for Risk

FNDSX vs. FANCX — Risk / Return Rank

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

FNDSX

FNDSX Risk / Return Rank: 19
FNDSX Sharpe Ratio Rank: 19
FNDSX Sortino Ratio Rank: 19
FNDSX Omega Ratio Rank: 18
FNDSX Calmar Ratio Rank: 20
FNDSX Martin Ratio Rank: 18

FANCX

FANCX Risk / Return Rank: 39
FANCX Sharpe Ratio Rank: 33
FANCX Sortino Ratio Rank: 42
FANCX Omega Ratio Rank: 46
FANCX Calmar Ratio Rank: 41
FANCX Martin Ratio Rank: 33

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.

FNDSX vs. FANCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainability Bond Index Fund (FNDSX) and Fidelity Advisor Short-Term Bond Fund Class C (FANCX). 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.

	FNDSX	FANCX	Difference
Sharpe ratio: Return per unit of total volatility	0.93	1.25	-0.32
Sortino ratio: Return per unit of downside risk	1.38	2.08	-0.70
Omega ratio: Gain probability vs. loss probability	1.16	1.28	-0.12
Calmar ratio: Return relative to maximum drawdown	1.22	1.93	-0.71
Martin ratio: Return relative to average drawdown	3.34	5.72	-2.38

FNDSX vs. FANCX - Sharpe Ratio Comparison

The current FNDSX Sharpe Ratio is 0.93, which is comparable to the FANCX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of FNDSX and FANCX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FNDSX vs. FANCX - Drawdown Comparison

The maximum FNDSX drawdown since its inception was -19.72%, which is greater than FANCX's maximum drawdown of -7.79%. Use the drawdown chart below to compare losses from any high point for FNDSX and FANCX.

Drawdown Indicators

	FNDSX	FANCX	Difference
Max Drawdown Largest peak-to-trough decline	-19.72%	-7.79%	-11.93%
Max Drawdown (1Y) Largest decline over 1 year	-2.94%	-1.18%	-1.76%
Max Drawdown (3Y) Largest decline over 3 years	-6.11%	-1.18%	-4.93%
Max Drawdown (5Y) Largest decline over 5 years	-18.30%	-7.24%	-11.06%
Current Drawdown Current decline from peak	-4.05%	-0.46%	-3.59%
Average Drawdown Average peak-to-trough decline	-6.46%	-1.54%	-4.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.07%	0.40%	+0.67%

Volatility

FNDSX vs. FANCX - Volatility Comparison

Fidelity Sustainability Bond Index Fund (FNDSX) has a higher volatility of 1.17% compared to Fidelity Advisor Short-Term Bond Fund Class C (FANCX) at 0.64%. This indicates that FNDSX's price experiences larger fluctuations and is considered to be riskier than FANCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNDSX	FANCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.17%	0.64%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	2.97%	1.36%	+1.61%
Volatility (1Y) Calculated over the trailing 1-year period	3.87%	1.81%	+2.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.01%	2.14%	+3.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.29%	1.77%	+3.52%

FNDSX vs. FANCX - Expense Ratio Comparison

FNDSX has a 0.10% expense ratio, which is lower than FANCX's 1.51% expense ratio.

Dividends

FNDSX vs. FANCX - Dividend Comparison

FNDSX's dividend yield for the trailing twelve months is around 3.99%, more than FANCX's 3.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FANCX Fidelity Advisor Short-Term Bond Fund Class C	3.09%	3.20%	2.95%	1.75%	0.15%	0.36%	1.68%	1.00%	0.69%	0.21%	0.07%
FNDSX Fidelity Sustainability Bond Index Fund	3.99%	3.84%	3.53%	2.84%	1.55%	1.17%	1.79%	3.17%	1.56%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FNDSX and FANCX in my portfolio?

FNDSX and FANCX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNDSX or FANCX?

FNDSX has higher volatility (1.17%) compared to FANCX (0.64%). In terms of maximum drawdown, FNDSX dropped -19.72% vs FANCX's -7.79%.

Which has better risk-adjusted returns?

FANCX currently has the higher Sharpe Ratio (1.25 vs 0.93), 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.