FSAJX vs. VWAHX
Compare and contrast key facts about Fidelity SAI Tax-Free Bond Fund (FSAJX) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX).
FSAJX is managed by Fidelity. It was launched on Oct 2, 2018. VWAHX is managed by Vanguard. It was launched on Dec 27, 1978.
Performance
FSAJX vs. VWAHX - Performance Comparison
Loading graphics...
FSAJX vs. VWAHX - 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% |
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | -0.27% | 4.96% | 3.98% | 8.39% | -11.76% | 3.36% | 5.39% | 9.48% | 1.60% |
Returns By Period
In the year-to-date period, FSAJX achieves a -0.38% return, which is significantly lower than VWAHX's -0.27% return.
FSAJX
- 1D
- 0.30%
- 1M
- -2.25%
- YTD
- -0.38%
- 6M
- 1.07%
- 1Y
- 3.98%
- 3Y*
- 3.70%
- 5Y*
- 1.17%
- 10Y*
- —
VWAHX
- 1D
- 0.38%
- 1M
- -2.23%
- YTD
- -0.27%
- 6M
- 1.32%
- 1Y
- 3.98%
- 3Y*
- 4.54%
- 5Y*
- 1.48%
- 10Y*
- 2.99%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
FSAJX vs. VWAHX - Expense Ratio Comparison
FSAJX has a 0.25% expense ratio, which is higher than VWAHX's 0.17% 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. VWAHX — Risk / Return Rank
FSAJX
VWAHX
FSAJX vs. VWAHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Tax-Free Bond Fund (FSAJX) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX). 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 | VWAHX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.93 | 0.78 | +0.15 |
Sortino ratioReturn per unit of downside risk | 1.24 | 1.06 | +0.18 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.22 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.15 | 0.95 | +0.20 |
Martin ratioReturn relative to average drawdown | 3.89 | 2.94 | +0.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| FSAJX | VWAHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 0.78 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.29 | 0.31 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.65 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.64 | -0.07 |
Correlation
The correlation between FSAJX and VWAHX is 0.92, 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. VWAHX - Dividend Comparison
FSAJX's dividend yield for the trailing twelve months is around 3.28%, less than VWAHX's 4.06% 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% |
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | 4.06% | 4.95% | 4.38% | 3.53% | 3.36% | 2.98% | 3.31% | 3.94% | 3.78% | 3.68% | 3.75% | 3.67% |
Drawdowns
FSAJX vs. VWAHX - Drawdown Comparison
The maximum FSAJX drawdown since its inception was -15.16%, smaller than the maximum VWAHX drawdown of -40.26%. Use the drawdown chart below to compare losses from any high point for FSAJX and VWAHX.
Loading graphics...
Drawdown Indicators
| FSAJX | VWAHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.16% | -40.26% | +25.10% |
Max Drawdown (1Y)Largest decline over 1 year | -4.78% | -5.63% | +0.85% |
Max Drawdown (5Y)Largest decline over 5 years | -15.16% | -17.32% | +2.16% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.32% | — |
Current DrawdownCurrent decline from peak | -2.53% | -2.50% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -3.37% | -6.95% | +3.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 1.82% | -0.41% |
Volatility
FSAJX vs. VWAHX - Volatility Comparison
The current volatility for Fidelity SAI Tax-Free Bond Fund (FSAJX) is 1.18%, while Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) has a volatility of 1.29%. This indicates that FSAJX experiences smaller price fluctuations and is considered to be less risky than VWAHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| FSAJX | VWAHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 1.29% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 1.78% | 1.99% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.83% | 5.70% | -0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.08% | 4.75% | -0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.65% | 4.61% | +0.04% |