FSHBX vs. FJRLX

Last updated Aug 1, 2026

FSHBX (Fidelity Short-Term Bond Fund) and FJRLX (Fidelity Limited Term Bond Fund) are both mutual funds - FSHBX is a Short-Term Bond fund actively managed by Fidelity, while FJRLX is a Total Bond Market fund managed by Fidelity. Over the past 10 years, FSHBX returned 2.08%/yr vs 2.26%/yr for FJRLX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. FSHBX charges 0.30%/yr vs 0.45%/yr for FJRLX.

Performance

FSHBX vs. FJRLX - Performance Comparison

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

Returns By Period

In the year-to-date period, FSHBX achieves a 0.65% return, which is significantly higher than FJRLX's 0.45% return. Over the past 10 years, FSHBX has underperformed FJRLX with an annualized return of 2.08%, while FJRLX has yielded a comparatively higher 2.26% annualized return.

FSHBX

• 1D: 0.12%
• 1M: -0.12%
• 6M: 0.31%
• YTD: 0.65%
• 1Y: 2.62%
• 3Y*: 4.68%
• 5Y*: 2.23%
• 10Y*: 2.08%
• ALL TIME*: 3.19%

FJRLX

• 1D: 0.00%
• 1M: -0.43%
• 6M: 0.11%
• YTD: 0.45%
• 1Y: 2.75%
• 3Y*: 5.12%
• 5Y*: 2.00%
• 10Y*: 2.26%
• ALL TIME*: 2.26%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FJRLX Fidelity Limited Term Bond Fund	$0.00	$0.00	$0.00
FSHBX Fidelity Short-Term Bond Fund	$0.00	$0.00	$0.00

FSHBX vs. FJRLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSHBX Fidelity Short-Term Bond Fund	0.65%	5.49%	4.73%	5.35%	-3.86%	-0.92%	3.59%	4.20%	1.21%	1.16%
FJRLX Fidelity Limited Term Bond Fund	0.45%	6.70%	4.62%	6.26%	-6.22%	-1.46%	5.16%	6.04%	0.71%	1.89%

Correlation

The correlation between FSHBX and FJRLX is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (3Y) Balances recent behavior with more history.	0.84
Correlation (5Y) Shows whether the relationship held over a longer period.	0.86
Correlation (10Y) Provides a long-term view across more market conditions.	0.79
Correlation (All Time) Calculated using the full available price history since Nov 8, 2013	0.76

The correlation between FSHBX and FJRLX has been stable across timeframes, ranging from 0.76 to 0.86 - a consistent structural relationship.

Return for Risk

FSHBX vs. FJRLX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FSHBX

FSHBX Risk / Return Rank: 84
FSHBX Sharpe Ratio Rank: 77
FSHBX Sortino Ratio Rank: 86
FSHBX Omega Ratio Rank: 86
FSHBX Calmar Ratio Rank: 85
FSHBX Martin Ratio Rank: 86

FJRLX

FJRLX Risk / Return Rank: 73
FJRLX Sharpe Ratio Rank: 73
FJRLX Sortino Ratio Rank: 80
FJRLX Omega Ratio Rank: 79
FJRLX Calmar Ratio Rank: 68
FJRLX Martin Ratio Rank: 64

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FSHBX vs. FJRLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Short-Term Bond Fund (FSHBX) and Fidelity Limited Term Bond Fund (FJRLX). 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	FJRLX	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.66	+0.10
Sortino ratio: Return per unit of downside risk	3.08	2.73	+0.35
Omega ratio: Gain probability vs. loss probability	1.43	1.35	+0.08
Calmar ratio: Return relative to maximum drawdown	2.87	2.19	+0.69
Martin ratio: Return relative to average drawdown	10.61	7.93	+2.68

FSHBX vs. FJRLX - Sharpe Ratio Comparison

The current FSHBX Sharpe Ratio is 1.76, which is comparable to the FJRLX Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of FSHBX and FJRLX, 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. FJRLX - Drawdown Comparison

The maximum FSHBX drawdown since its inception was -8.80%, smaller than the maximum FJRLX drawdown of -9.89%. Use the drawdown chart below to compare losses from any high point for FSHBX and FJRLX.

Drawdown Indicators

	FSHBX	FJRLX	Difference
Max Drawdown Largest peak-to-trough decline	-8.80%	-9.89%	+1.09%
Max Drawdown (1Y) Largest decline over 1 year	-1.17%	-1.63%	+0.46%
Max Drawdown (3Y) Largest decline over 3 years	-1.17%	-1.63%	+0.46%
Max Drawdown (5Y) Largest decline over 5 years	-6.36%	-9.63%	+3.27%
Max Drawdown (10Y) Largest decline over 10 years	-6.51%	-9.89%	+3.38%
Current Drawdown Current decline from peak	-0.24%	-0.53%	+0.29%
Average Drawdown Average peak-to-trough decline	-1.04%	-1.33%	+0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	0.45%	-0.13%

Volatility

FSHBX vs. FJRLX - Volatility Comparison

Fidelity Short-Term Bond Fund (FSHBX) and Fidelity Limited Term Bond Fund (FJRLX) have volatilities of 0.44% and 0.45%, 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.

Volatility by Period

	FSHBX	FJRLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.44%	0.45%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	1.45%	1.74%	-0.29%
Volatility (1Y) Calculated over the trailing 1-year period	1.92%	2.14%	-0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.23%	2.78%	-0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.86%	2.41%	-0.55%

FSHBX vs. FJRLX - Expense Ratio Comparison

FSHBX has a 0.30% expense ratio, which is lower than FJRLX's 0.45% expense ratio.

Dividends

FSHBX vs. FJRLX - Dividend Comparison

FSHBX's dividend yield for the trailing twelve months is around 3.79%, which matches FJRLX's 3.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FJRLX Fidelity Limited Term Bond Fund	3.79%	3.93%	3.08%	2.38%	1.26%	1.25%	2.38%	2.44%	2.29%	1.79%	1.88%	1.60%
FSHBX Fidelity Short-Term Bond Fund	3.79%	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 FJRLX in my portfolio?

FSHBX and FJRLX have a correlation of 0.78, 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 FJRLX?

FJRLX has higher volatility (0.45%) compared to FSHBX (0.44%). In terms of maximum drawdown, FSHBX dropped -8.80% vs FJRLX's -9.89%.

Which has better risk-adjusted returns?

FSHBX currently has the higher Sharpe Ratio (1.76 vs 1.66), 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.