FSHBX vs. BSV

Last updated Jun 23, 2026

FSHBX (Fidelity Short-Term Bond Fund) and BSV (Vanguard Short-Term Bond Index Fund ETF Shares) are both funds - FSHBX is a Total Bond Market fund managed by Fidelity, while BSV is a Short-Term Bond fund tracking the Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index. Over the past 10 years, FSHBX returned 2.09%/yr vs 1.90%/yr for BSV. A 0.64 correlation means they provide meaningful diversification when combined. FSHBX charges 0.45%/yr vs 0.03%/yr for BSV.

Performance

FSHBX vs. BSV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Short-Term Bond Fund (FSHBX) and Vanguard Short-Term Bond Index Fund ETF Shares (BSV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSHBX achieves a 0.32% return, which is significantly higher than BSV's 0.21% return. Over the past 10 years, FSHBX has outperformed BSV with an annualized return of 2.09%, while BSV has yielded a comparatively lower 1.90% annualized return.

FSHBX

• 1D: 0.00%
• 1M: 0.22%
• YTD: 0.32%
• 6M: 0.66%
• 1Y: 3.38%
• 3Y*: 4.78%
• 5Y*: 2.24%
• 10Y*: 2.09%

BSV

• 1D: -0.12%
• 1M: 0.11%
• YTD: 0.21%
• 6M: 0.37%
• 1Y: 3.25%
• 3Y*: 4.47%
• 5Y*: 1.66%
• 10Y*: 1.90%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FSHBX vs. BSV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSHBX Fidelity Short-Term Bond Fund	0.32%	5.49%	4.73%	5.35%	-3.86%	-0.92%	3.59%	4.20%	1.21%	1.16%
BSV Vanguard Short-Term Bond Index Fund ETF Shares	0.21%	6.00%	3.78%	4.90%	-5.49%	-1.09%	4.70%	4.98%	1.34%	1.20%

Correlation

The correlation between FSHBX and BSV is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Apr 10, 2007	0.64

The correlation between FSHBX and BSV shifts across timeframes, from 0.64 (all time) to 0.81 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FSHBX vs. BSV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FSHBX

FSHBX Risk / Return Rank: 59
FSHBX Sharpe Ratio Rank: 41
FSHBX Sortino Ratio Rank: 67
FSHBX Omega Ratio Rank: 68
FSHBX Calmar Ratio Rank: 62
FSHBX Martin Ratio Rank: 57

BSV

BSV Risk / Return Rank: 55
BSV Sharpe Ratio Rank: 55
BSV Sortino Ratio Rank: 63
BSV Omega Ratio Rank: 57
BSV Calmar Ratio Rank: 52
BSV Martin Ratio Rank: 50

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FSHBX vs. BSV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Short-Term Bond Fund (FSHBX) and Vanguard Short-Term Bond Index Fund ETF Shares (BSV). 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.

	FSHBX	BSV	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.79	-0.06
Sortino ratio: Return per unit of downside risk	3.10	2.82	+0.28
Omega ratio: Gain probability vs. loss probability	1.42	1.34	+0.08
Calmar ratio: Return relative to maximum drawdown	2.89	2.53	+0.37
Martin ratio: Return relative to average drawdown	10.77	8.35	+2.43

FSHBX vs. BSV - Sharpe Ratio Comparison

The current FSHBX Sharpe Ratio is 1.73, which is comparable to the BSV Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of FSHBX and BSV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FSHBX vs. BSV - Drawdown Comparison

The maximum FSHBX drawdown since its inception was -8.80%, roughly equal to the maximum BSV drawdown of -8.54%. Use the drawdown chart below to compare losses from any high point for FSHBX and BSV.

Drawdown Indicators

	FSHBX	BSV	Difference
Max Drawdown Largest peak-to-trough decline	-8.80%	-8.54%	-0.26%
Max Drawdown (1Y) Largest decline over 1 year	-1.17%	-1.29%	+0.12%
Max Drawdown (3Y) Largest decline over 3 years	-1.17%	-1.53%	+0.36%
Max Drawdown (5Y) Largest decline over 5 years	-6.36%	-8.54%	+2.18%
Max Drawdown (10Y) Largest decline over 10 years	-6.51%	-8.54%	+2.03%
Current Drawdown Current decline from peak	-0.42%	-0.70%	+0.28%
Average Drawdown Average peak-to-trough decline	-1.04%	-0.97%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.31%	0.39%	-0.08%

Volatility

FSHBX vs. BSV - Volatility Comparison

Fidelity Short-Term Bond Fund (FSHBX) has a higher volatility of 0.65% compared to Vanguard Short-Term Bond Index Fund ETF Shares (BSV) at 0.59%. This indicates that FSHBX's price experiences larger fluctuations and is considered to be riskier than BSV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSHBX	BSV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.65%	0.59%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	1.45%	1.33%	+0.12%
Volatility (1Y) Calculated over the trailing 1-year period	1.96%	1.82%	+0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.22%	2.73%	-0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.86%	2.38%	-0.52%

FSHBX vs. BSV - Expense Ratio Comparison

FSHBX has a 0.45% expense ratio, which is higher than BSV's 0.03% expense ratio.

Dividends

FSHBX vs. BSV - Dividend Comparison

FSHBX's dividend yield for the trailing twelve months is around 4.18%, more than BSV's 4.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSV Vanguard Short-Term Bond Index Fund ETF Shares	4.00%	3.83%	3.38%	2.46%	1.50%	1.45%	1.79%	2.29%	1.99%	1.65%	1.48%	1.40%
FSHBX Fidelity Short-Term Bond Fund	4.18%	4.26%	4.00%	3.00%	0.83%	1.04%	2.62%	2.13%	1.78%	1.27%	1.12%	0.88%

Frequently Asked Questions

Can I hold both FSHBX and BSV in my portfolio?

FSHBX and BSV have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSHBX or BSV?

FSHBX has higher volatility (0.65%) compared to BSV (0.59%). In terms of maximum drawdown, FSHBX dropped -8.80% vs BSV's -8.54%.

Which has better risk-adjusted returns?

BSV currently has the higher Sharpe Ratio (1.79 vs 1.73), 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.