FSAJX vs. FSPSX
Compare and contrast key facts about Fidelity SAI Tax-Free Bond Fund (FSAJX) and Fidelity International Index Fund (FSPSX).
FSAJX is managed by Fidelity. It was launched on Oct 2, 2018. FSPSX is a passively managed fund by Fidelity that tracks the performance of the MSCI ACWI ex USA IMI Index. It was launched on Nov 5, 1997.
Performance
FSAJX vs. FSPSX - Performance Comparison
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FSAJX vs. FSPSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FSAJX Fidelity SAI Tax-Free Bond Fund | -0.38% | 5.25% | 1.80% | 7.67% | -9.82% | 1.98% | 3.91% | 8.45% | 1.95% |
FSPSX Fidelity International Index Fund | 0.95% | 31.98% | 3.70% | 18.31% | -14.23% | 11.45% | 8.16% | 22.03% | -11.80% |
Returns By Period
In the year-to-date period, FSAJX achieves a -0.38% return, which is significantly lower than FSPSX's 0.95% return.
FSAJX
- 1D
- 0.30%
- 1M
- -2.25%
- YTD
- -0.38%
- 6M
- 1.07%
- 1Y
- 3.98%
- 3Y*
- 3.70%
- 5Y*
- 1.17%
- 10Y*
- —
FSPSX
- 1D
- 2.95%
- 1M
- -6.35%
- YTD
- 0.95%
- 6M
- 5.01%
- 1Y
- 22.97%
- 3Y*
- 14.61%
- 5Y*
- 8.36%
- 10Y*
- 8.97%
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FSAJX vs. FSPSX - Expense Ratio Comparison
FSAJX has a 0.25% expense ratio, which is higher than FSPSX's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
FSAJX vs. FSPSX — Risk / Return Rank
FSAJX
FSPSX
FSAJX vs. FSPSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Tax-Free Bond Fund (FSAJX) and Fidelity International Index Fund (FSPSX). 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.
| FSAJX | FSPSX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.93 | 1.39 | -0.46 |
Sortino ratioReturn per unit of downside risk | 1.24 | 1.90 | -0.67 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.28 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.15 | 1.94 | -0.79 |
Martin ratioReturn relative to average drawdown | 3.89 | 7.43 | -3.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FSAJX | FSPSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 1.39 | -0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.29 | 0.53 | -0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.47 | +0.10 |
Correlation
The correlation between FSAJX and FSPSX is 0.06, 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
FSAJX vs. FSPSX - Dividend Comparison
FSAJX's dividend yield for the trailing twelve months is around 3.28%, more than FSPSX's 3.12% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSAJX Fidelity SAI Tax-Free Bond Fund | 3.28% | 4.25% | 3.08% | 2.75% | 1.72% | 1.50% | 2.03% | 2.79% | 0.44% | 0.00% | 0.00% | 0.00% |
FSPSX Fidelity International Index Fund | 3.12% | 3.15% | 3.27% | 2.79% | 2.66% | 3.07% | 1.84% | 3.18% | 2.79% | 2.50% | 3.08% | 2.79% |
Drawdowns
FSAJX vs. FSPSX - Drawdown Comparison
The maximum FSAJX drawdown since its inception was -15.16%, smaller than the maximum FSPSX drawdown of -33.69%. Use the drawdown chart below to compare losses from any high point for FSAJX and FSPSX.
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Drawdown Indicators
| FSAJX | FSPSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.16% | -33.69% | +18.53% |
Max Drawdown (1Y)Largest decline over 1 year | -4.78% | -11.39% | +6.61% |
Max Drawdown (5Y)Largest decline over 5 years | -15.16% | -29.41% | +14.25% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.69% | — |
Current DrawdownCurrent decline from peak | -2.53% | -8.22% | +5.69% |
Average DrawdownAverage peak-to-trough decline | -3.37% | -6.60% | +3.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 2.97% | -1.56% |
Volatility
FSAJX vs. FSPSX - Volatility Comparison
The current volatility for Fidelity SAI Tax-Free Bond Fund (FSAJX) is 1.18%, while Fidelity International Index Fund (FSPSX) has a volatility of 7.65%. This indicates that FSAJX experiences smaller price fluctuations and is considered to be less risky than FSPSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSAJX | FSPSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 7.65% | -6.47% |
Volatility (6M)Calculated over the trailing 6-month period | 1.78% | 11.01% | -9.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.83% | 17.00% | -12.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.08% | 15.82% | -11.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.65% | 16.49% | -11.84% |