FNDSX vs. JNK

Last updated Jun 4, 2026

FNDSX (Fidelity Sustainability Bond Index Fund) and JNK (SPDR Barclays High Yield Bond ETF) are both funds - FNDSX is a Total Bond Market fund managed by Fidelity, while JNK is a High Yield Bonds fund tracking the Barclays Capital High Yield Very Liquid Index. Over the past 5 years, FNDSX returned 0.02%/yr vs 3.68%/yr for JNK. At a 0.30 correlation, their price movements are largely independent. FNDSX charges 0.10%/yr vs 0.40%/yr for JNK.

Performance

FNDSX vs. JNK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Sustainability Bond Index Fund (FNDSX) and SPDR Barclays High Yield Bond ETF (JNK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNDSX achieves a 0.42% return, which is significantly lower than JNK's 1.51% return.

FNDSX

• 1D: 0.00%
• 1M: 0.44%
• YTD: 0.42%
• 6M: 0.31%
• 1Y: 5.25%
• 3Y*: 3.92%
• 5Y*: 0.02%
• 10Y*: —

JNK

• 1D: -0.22%
• 1M: 0.44%
• YTD: 1.51%
• 6M: 1.97%
• 1Y: 7.24%
• 3Y*: 8.63%
• 5Y*: 3.68%
• 10Y*: 5.01%

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

FNDSX vs. JNK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FNDSX Fidelity Sustainability Bond Index Fund	0.42%	7.03%	1.23%	5.44%	-13.34%	-2.22%	6.95%	8.30%	1.89%
JNK SPDR Barclays High Yield Bond ETF	1.51%	8.76%	7.71%	12.42%	-12.19%	4.00%	4.95%	14.88%	-3.20%

Correlation

The correlation between FNDSX and JNK is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jun 20, 2018	0.30

Over the past year, FNDSX and JNK have become more correlated (0.54) than their long-term average of 0.30, meaning their price movements have been converging.

Return for Risk

FNDSX vs. JNK — Risk / Return Rank

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

FNDSX

FNDSX Risk / Return Rank: 22
FNDSX Sharpe Ratio Rank: 22
FNDSX Sortino Ratio Rank: 23
FNDSX Omega Ratio Rank: 21
FNDSX Calmar Ratio Rank: 23
FNDSX Martin Ratio Rank: 21

JNK

JNK Risk / Return Rank: 60
JNK Sharpe Ratio Rank: 55
JNK Sortino Ratio Rank: 60
JNK Omega Ratio Rank: 58
JNK Calmar Ratio Rank: 58
JNK Martin Ratio Rank: 68

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. JNK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainability Bond Index Fund (FNDSX) and SPDR Barclays High Yield Bond ETF (JNK). 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.

	FNDSX	JNK	Difference
Sharpe ratio Return per unit of total volatility	1.33	1.90	-0.57
Sortino ratio Return per unit of downside risk	2.00	2.89	-0.89
Omega ratio Gain probability vs. loss probability	1.24	1.36	-0.12
Calmar ratio Return relative to maximum drawdown	1.79	2.90	-1.11
Martin ratio Return relative to average drawdown	5.39	12.79	-7.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNDSX vs. JNK - Sharpe Ratio Comparison

The current FNDSX Sharpe Ratio is 1.33, which is lower than the JNK Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of FNDSX and JNK, 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

	FNDSX	JNK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	1.90	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	0.49	-0.49
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.42	-0.09

Drawdowns

FNDSX vs. JNK - Drawdown Comparison

The maximum FNDSX drawdown since its inception was -19.72%, smaller than the maximum JNK drawdown of -38.48%. Use the drawdown chart below to compare losses from any high point for FNDSX and JNK.

Drawdown Indicators

	FNDSX	JNK	Difference
Max Drawdown Largest peak-to-trough decline	-19.72%	-38.48%	+18.76%
Max Drawdown (1Y) Largest decline over 1 year	-2.94%	-2.51%	-0.43%
Max Drawdown (3Y) Largest decline over 3 years	-6.11%	-5.02%	-1.09%
Max Drawdown (5Y) Largest decline over 5 years	-18.30%	-16.67%	-1.63%
Max Drawdown (10Y) Largest decline over 10 years	—	-22.89%	—
Current Drawdown Current decline from peak	-3.74%	-0.26%	-3.48%
Average Drawdown Average peak-to-trough decline	-6.50%	-3.70%	-2.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	0.57%	+0.41%

Volatility

FNDSX vs. JNK - Volatility Comparison

Fidelity Sustainability Bond Index Fund (FNDSX) has a higher volatility of 1.31% compared to SPDR Barclays High Yield Bond ETF (JNK) at 1.13%. This indicates that FNDSX's price experiences larger fluctuations and is considered to be riskier than JNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNDSX	JNK	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	1.13%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	2.81%	2.97%	-0.16%
Volatility (1Y) Calculated over the trailing 1-year period	3.98%	3.82%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.01%	7.54%	-1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.31%	8.31%	-3.00%

FNDSX vs. JNK - Expense Ratio Comparison

FNDSX has a 0.10% expense ratio, which is lower than JNK's 0.40% expense ratio.

Dividends

FNDSX vs. JNK - Dividend Comparison

FNDSX's dividend yield for the trailing twelve months is around 3.95%, less than JNK's 6.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDSX Fidelity Sustainability Bond Index Fund	3.95%	3.84%	3.53%	2.84%	1.55%	1.17%	1.79%	3.17%	1.56%	0.00%	0.00%	0.00%
JNK SPDR Barclays High Yield Bond ETF	6.62%	6.54%	6.63%	6.38%	6.06%	4.27%	5.11%	5.44%	5.90%	5.60%	6.06%	6.59%

Frequently Asked Questions

Can I hold both FNDSX and JNK in my portfolio?

FNDSX and JNK have a correlation of 0.54, 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 JNK?

FNDSX has higher volatility (1.31%) compared to JNK (1.13%). In terms of maximum drawdown, FNDSX dropped -19.72% vs JNK's -38.48%.

Which has better risk-adjusted returns?

JNK currently has the higher Sharpe Ratio (1.90 vs 1.33), 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.