FSAJX vs. FTABX
FSAJX (Fidelity SAI Tax-Free Bond Fund) and FTABX (Fidelity Tax-Free Bond Fund) are both Municipal Bonds funds from Fidelity. Over the past 5 years, FSAJX returned 0.74%/yr vs 0.49%/yr for FTABX. Their correlation of 0.92 means they have usually moved in the same direction. Both charge a 0.25% expense ratio.
Performance
FSAJX vs. FTABX - Performance Comparison
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Returns By Period
In the year-to-date period, FSAJX achieves a 0.16% return, which is significantly higher than FTABX's -0.04% return.
FSAJX
- 1D
- -0.10%
- 1M
- -2.07%
- 6M
- -0.80%
- YTD
- 0.16%
- 1Y
- 4.80%
- 3Y*
- 3.81%
- 5Y*
- 0.74%
- 10Y*
- —
- ALL TIME*
- 2.58%
FTABX
- 1D
- -0.18%
- 1M
- -2.24%
- 6M
- -0.84%
- YTD
- -0.04%
- 1Y
- 4.74%
- 3Y*
- 3.63%
- 5Y*
- 0.49%
- 10Y*
- 2.06%
- ALL TIME*
- 3.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FSAJX vs. FTABX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FSAJX Fidelity SAI Tax-Free Bond Fund | 0.16% | 5.25% | 1.80% | 7.67% | -9.82% | 1.98% | 3.91% | 8.45% | 1.95% |
FTABX Fidelity Tax-Free Bond Fund | -0.04% | 5.60% | 1.54% | 7.51% | -10.74% | 2.20% | 4.80% | 8.58% | 1.85% |
Correlation
The correlation between FSAJX and FTABX is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2018 | 0.92 |
The correlation between FSAJX and FTABX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
FSAJX vs. FTABX — Risk / Return Rank
FSAJX
FTABX
FSAJX vs. FTABX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Tax-Free Bond Fund (FSAJX) and Fidelity Tax-Free Bond Fund (FTABX). 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.
| FSAJX | FTABX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.41 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 1.66 | +0.05 |
| Martin ratioReturn relative to average drawdown | 5.60 | 5.27 | +0.33 |
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Drawdowns
FSAJX vs. FTABX - Drawdown Comparison
The maximum FSAJX drawdown since its inception was -15.16%, smaller than the maximum FTABX drawdown of -16.14%. Use the drawdown chart below to compare losses from any high point for FSAJX and FTABX.
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Drawdown Indicators
| FSAJX | FTABX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.16% | -16.14% | +0.98% |
Max Drawdown (1Y)Largest decline over 1 year | -3.02% | -3.11% | +0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -5.02% | -5.18% | +0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -15.13% | -16.07% | +0.94% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.14% | — |
Current DrawdownCurrent decline from peak | -2.07% | -2.24% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -3.27% | -2.11% | -1.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.98% | -0.06% |
Volatility
FSAJX vs. FTABX - Volatility Comparison
Fidelity SAI Tax-Free Bond Fund (FSAJX) and Fidelity Tax-Free Bond Fund (FTABX) have volatilities of 1.02% and 0.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSAJX | FTABX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 0.99% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.37% | 2.35% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.93% | 2.88% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.15% | 4.18% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.59% | 4.29% | +0.30% |
FSAJX vs. FTABX - Expense Ratio Comparison
Both FSAJX and FTABX have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
FSAJX vs. FTABX - Dividend Comparison
FSAJX's dividend yield for the trailing twelve months is around 3.10%, more than FTABX's 3.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSAJX Fidelity SAI Tax-Free Bond Fund | 3.10% | 4.25% | 3.08% | 2.75% | 1.72% | 1.50% | 2.03% | 2.79% | 0.44% | 0.00% | 0.00% | 0.00% |
FTABX Fidelity Tax-Free Bond Fund | 3.00% | 4.18% | 2.81% | 2.90% | 2.16% | 2.27% | 2.64% | 2.94% | 3.01% | 3.49% | 4.22% | 3.29% |
Frequently Asked Questions
With a correlation of 0.90, FSAJX and FTABX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FSAJX has higher volatility (1.02%) compared to FTABX (0.99%). In terms of maximum drawdown, FSAJX dropped -15.16% vs FTABX's -16.14%.
FTABX currently has the higher Sharpe Ratio (1.81 vs 1.79), 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.
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