FSAHX vs. TBUX

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Short Duration High Income Fund (FSAHX) and T. Rowe Price Ultra Short-Term Bond ETF (TBUX).

FSAHX is managed by Fidelity. It was launched on Nov 5, 2013. TBUX is an actively managed fund by T. Rowe Price. It was launched on Sep 28, 2021.

Performance

FSAHX vs. TBUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Short Duration High Income Fund (FSAHX) and T. Rowe Price Ultra Short-Term Bond ETF (TBUX). The values are adjusted to include any dividend payments, if applicable.

FSAHX vs. TBUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FSAHX Fidelity Short Duration High Income Fund	-0.12%	7.75%	8.23%	10.29%	-7.06%	0.62%
TBUX T. Rowe Price Ultra Short-Term Bond ETF	0.81%	5.37%	6.38%	6.39%	-0.13%	-0.22%

Returns By Period

In the year-to-date period, FSAHX achieves a -0.12% return, which is significantly lower than TBUX's 0.81% return.

FSAHX

• 1D: 0.57%
• 1M: -1.00%
• YTD: -0.12%
• 6M: 1.30%
• 1Y: 6.83%
• 3Y*: 7.73%
• 5Y*: 4.08%
• 10Y*: 4.67%

TBUX

• 1D: -0.02%
• 1M: 0.17%
• YTD: 0.81%
• 6M: 1.96%
• 1Y: 4.82%
• 3Y*: 5.86%
• 5Y*: —
• 10Y*: —

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

FSAHX vs. TBUX - Expense Ratio Comparison

FSAHX has a 0.75% expense ratio, which is higher than TBUX's 0.17% expense ratio.

FSAHX

Fidelity Short Duration High Income Fund

TBUX

T. Rowe Price Ultra Short-Term Bond ETF

Return for Risk

FSAHX vs. TBUX — Risk / Return Rank

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

FSAHX

FSAHX Risk / Return Rank: 94
FSAHX Sharpe Ratio Rank: 93
FSAHX Sortino Ratio Rank: 95
FSAHX Omega Ratio Rank: 95
FSAHX Calmar Ratio Rank: 92
FSAHX Martin Ratio Rank: 95

TBUX

TBUX Risk / Return Rank: 99
TBUX Sharpe Ratio Rank: 99
TBUX Sortino Ratio Rank: 99
TBUX Omega Ratio Rank: 99
TBUX Calmar Ratio Rank: 99
TBUX Martin Ratio Rank: 99

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.

FSAHX vs. TBUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Short Duration High Income Fund (FSAHX) and T. Rowe Price Ultra Short-Term Bond ETF (TBUX). 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.

	FSAHX	TBUX	Difference
Sharpe ratio Return per unit of total volatility	2.13	5.76	-3.63
Sortino ratio Return per unit of downside risk	3.19	9.93	-6.75
Omega ratio Gain probability vs. loss probability	1.52	2.61	-1.10
Calmar ratio Return relative to maximum drawdown	2.85	14.61	-11.77
Martin ratio Return relative to average drawdown	13.11	99.09	-85.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSAHX vs. TBUX - Sharpe Ratio Comparison

The current FSAHX Sharpe Ratio is 2.13, which is lower than the TBUX Sharpe Ratio of 5.76. The chart below compares the historical Sharpe Ratios of FSAHX and TBUX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FSAHX	TBUX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	5.76	-3.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.07	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.10	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	3.81	-2.94

Correlation

The correlation between FSAHX and TBUX is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FSAHX vs. TBUX - Dividend Comparison

FSAHX's dividend yield for the trailing twelve months is around 6.92%, more than TBUX's 4.55% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSAHX Fidelity Short Duration High Income Fund	6.92%	7.36%	6.53%	5.97%	3.26%	2.85%	3.19%	4.22%	4.52%	4.11%	4.73%	4.40%
TBUX T. Rowe Price Ultra Short-Term Bond ETF	4.55%	4.67%	5.39%	4.66%	2.58%	0.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FSAHX vs. TBUX - Drawdown Comparison

The maximum FSAHX drawdown since its inception was -16.77%, which is greater than TBUX's maximum drawdown of -1.79%. Use the drawdown chart below to compare losses from any high point for FSAHX and TBUX.

Drawdown Indicators

	FSAHX	TBUX	Difference
Max Drawdown Largest peak-to-trough decline	-16.77%	-1.79%	-14.98%
Max Drawdown (1Y) Largest decline over 1 year	-2.58%	-0.33%	-2.25%
Max Drawdown (5Y) Largest decline over 5 years	-9.43%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-16.77%	—	—
Current Drawdown Current decline from peak	-1.11%	-0.02%	-1.09%
Average Drawdown Average peak-to-trough decline	-1.57%	-0.29%	-1.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.56%	0.05%	+0.51%

Volatility

FSAHX vs. TBUX - Volatility Comparison

Fidelity Short Duration High Income Fund (FSAHX) has a higher volatility of 1.25% compared to T. Rowe Price Ultra Short-Term Bond ETF (TBUX) at 0.25%. This indicates that FSAHX's price experiences larger fluctuations and is considered to be riskier than TBUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSAHX	TBUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.25%	0.25%	+1.00%
Volatility (6M) Calculated over the trailing 6-month period	2.07%	0.44%	+1.63%
Volatility (1Y) Calculated over the trailing 1-year period	3.30%	0.84%	+2.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.82%	1.08%	+2.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.24%	1.08%	+3.16%