FSAJX vs. FSTFX
Compare and contrast key facts about Fidelity SAI Tax-Free Bond Fund (FSAJX) and Fidelity Limited Term Municipal Income Fund (FSTFX).
FSAJX is managed by Fidelity. It was launched on Oct 2, 2018. FSTFX is managed by Fidelity. It was launched on Dec 24, 1986.
Performance
FSAJX vs. FSTFX - Performance Comparison
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FSAJX vs. FSTFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FSAJX Fidelity SAI Tax-Free Bond Fund | -0.68% | 5.25% | 1.80% | 7.67% | -9.82% | 1.98% | 3.91% | 8.45% | 1.95% |
FSTFX Fidelity Limited Term Municipal Income Fund | -0.18% | 5.36% | 2.36% | 3.85% | -4.90% | 0.15% | 3.23% | 4.19% | 1.22% |
Returns By Period
In the year-to-date period, FSAJX achieves a -0.68% return, which is significantly lower than FSTFX's -0.18% return.
FSAJX
- 1D
- 0.20%
- 1M
- -2.82%
- YTD
- -0.68%
- 6M
- 0.87%
- 1Y
- 4.08%
- 3Y*
- 3.60%
- 5Y*
- 1.13%
- 10Y*
- —
FSTFX
- 1D
- 0.00%
- 1M
- -1.49%
- YTD
- -0.18%
- 6M
- 0.45%
- 1Y
- 3.66%
- 3Y*
- 3.31%
- 5Y*
- 1.31%
- 10Y*
- 1.62%
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FSAJX vs. FSTFX - Expense Ratio Comparison
FSAJX has a 0.25% expense ratio, which is lower than FSTFX's 0.37% expense ratio.
Return for Risk
FSAJX vs. FSTFX — Risk / Return Rank
FSAJX
FSTFX
FSAJX vs. FSTFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Tax-Free Bond Fund (FSAJX) and Fidelity Limited Term Municipal Income Fund (FSTFX). 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 | FSTFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.02 | 1.99 | -0.98 |
Sortino ratioReturn per unit of downside risk | 1.36 | 2.83 | -1.47 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.69 | -0.41 |
Calmar ratioReturn relative to maximum drawdown | 1.02 | 2.12 | -1.10 |
Martin ratioReturn relative to average drawdown | 3.46 | 8.94 | -5.47 |
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 | FSTFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | 1.99 | -0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.69 | -0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.80 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 1.57 | -1.01 |
Correlation
The correlation between FSAJX and FSTFX is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FSAJX vs. FSTFX - Dividend Comparison
FSAJX's dividend yield for the trailing twelve months is around 3.28%, more than FSTFX's 2.35% 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% |
FSTFX Fidelity Limited Term Municipal Income Fund | 2.35% | 2.99% | 2.03% | 1.70% | 0.92% | 1.08% | 1.58% | 1.92% | 1.65% | 1.56% | 1.60% | 1.62% |
Drawdowns
FSAJX vs. FSTFX - Drawdown Comparison
The maximum FSAJX drawdown since its inception was -15.16%, which is greater than FSTFX's maximum drawdown of -9.50%. Use the drawdown chart below to compare losses from any high point for FSAJX and FSTFX.
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Drawdown Indicators
| FSAJX | FSTFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.16% | -9.50% | -5.66% |
Max Drawdown (1Y)Largest decline over 1 year | -4.78% | -2.00% | -2.78% |
Max Drawdown (5Y)Largest decline over 5 years | -15.16% | -7.65% | -7.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -7.65% | — |
Current DrawdownCurrent decline from peak | -2.82% | -1.49% | -1.33% |
Average DrawdownAverage peak-to-trough decline | -3.37% | -0.98% | -2.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 0.47% | +0.93% |
Volatility
FSAJX vs. FSTFX - Volatility Comparison
Fidelity SAI Tax-Free Bond Fund (FSAJX) has a higher volatility of 1.11% compared to Fidelity Limited Term Municipal Income Fund (FSTFX) at 0.53%. This indicates that FSAJX's price experiences larger fluctuations and is considered to be riskier than FSTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSAJX | FSTFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.11% | 0.53% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | 0.94% | +0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.84% | 2.14% | +2.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.08% | 1.91% | +2.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.65% | 2.04% | +2.61% |