FSAJX vs. FXAIX
Compare and contrast key facts about Fidelity SAI Tax-Free Bond Fund (FSAJX) and Fidelity 500 Index Fund (FXAIX).
FSAJX is managed by Fidelity. It was launched on Oct 2, 2018. FXAIX is a passively managed fund by Fidelity that tracks the performance of the S&P 500 Index. It was launched on Feb 17, 1988.
Performance
FSAJX vs. FXAIX - Performance Comparison
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FSAJX vs. FXAIX - 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% |
FXAIX Fidelity 500 Index Fund | -7.05% | 17.84% | 25.01% | 26.29% | -18.14% | 28.71% | 18.42% | 31.48% | -13.89% |
Returns By Period
In the year-to-date period, FSAJX achieves a -0.68% return, which is significantly higher than FXAIX's -7.05% return.
FSAJX
- 1D
- 0.20%
- 1M
- -2.82%
- YTD
- -0.68%
- 6M
- 0.87%
- 1Y
- 4.08%
- 3Y*
- 3.60%
- 5Y*
- 1.13%
- 10Y*
- —
FXAIX
- 1D
- -0.39%
- 1M
- -7.68%
- YTD
- -7.05%
- 6M
- -4.59%
- 1Y
- 14.42%
- 3Y*
- 17.17%
- 5Y*
- 11.40%
- 10Y*
- 13.75%
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FSAJX vs. FXAIX - Expense Ratio Comparison
FSAJX has a 0.25% expense ratio, which is higher than FXAIX's 0.02% 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. FXAIX — Risk / Return Rank
FSAJX
FXAIX
FSAJX vs. FXAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Tax-Free Bond Fund (FSAJX) and Fidelity 500 Index Fund (FXAIX). 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 | FXAIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.02 | 0.84 | +0.18 |
Sortino ratioReturn per unit of downside risk | 1.36 | 1.30 | +0.07 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.20 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.02 | 1.05 | -0.04 |
Martin ratioReturn relative to average drawdown | 3.46 | 5.13 | -1.66 |
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 | FXAIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | 0.84 | +0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.68 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.77 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.75 | -0.19 |
Correlation
The correlation between FSAJX and FXAIX is 0.04, 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. FXAIX - Dividend Comparison
FSAJX's dividend yield for the trailing twelve months is around 3.28%, more than FXAIX's 1.20% 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% |
FXAIX Fidelity 500 Index Fund | 1.20% | 1.11% | 1.25% | 1.45% | 1.69% | 1.22% | 1.60% | 2.06% | 2.72% | 1.97% | 2.52% | 2.83% |
Drawdowns
FSAJX vs. FXAIX - Drawdown Comparison
The maximum FSAJX drawdown since its inception was -15.16%, smaller than the maximum FXAIX drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for FSAJX and FXAIX.
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Drawdown Indicators
| FSAJX | FXAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.16% | -33.79% | +18.63% |
Max Drawdown (1Y)Largest decline over 1 year | -4.78% | -12.13% | +7.35% |
Max Drawdown (5Y)Largest decline over 5 years | -15.16% | -24.50% | +9.34% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.79% | — |
Current DrawdownCurrent decline from peak | -2.82% | -8.89% | +6.07% |
Average DrawdownAverage peak-to-trough decline | -3.37% | -3.83% | +0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 2.50% | -1.10% |
Volatility
FSAJX vs. FXAIX - Volatility Comparison
The current volatility for Fidelity SAI Tax-Free Bond Fund (FSAJX) is 1.11%, while Fidelity 500 Index Fund (FXAIX) has a volatility of 4.24%. This indicates that FSAJX experiences smaller price fluctuations and is considered to be less risky than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSAJX | FXAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.11% | 4.24% | -3.13% |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | 9.08% | -7.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.84% | 18.13% | -13.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.08% | 16.88% | -12.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.65% | 18.03% | -13.38% |