FSISX vs. BND

Last updated Jun 23, 2026

FSISX (Fidelity SAI International Small Cap Index Fund) and BND (Vanguard Total Bond Market ETF) are both funds - FSISX is a Foreign Small & Mid Cap Equities fund managed by Fidelity, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 5 years, FSISX returned 6.02%/yr vs 0.04%/yr for BND. At a 0.28 correlation, their price movements are largely independent. FSISX charges 0.10%/yr vs 0.03%/yr for BND.

Performance

FSISX vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI International Small Cap Index Fund (FSISX) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSISX achieves a 9.43% return, which is significantly higher than BND's 0.38% return.

FSISX

• 1D: 0.18%
• 1M: -0.26%
• YTD: 9.43%
• 6M: 10.28%
• 1Y: 24.45%
• 3Y*: 15.40%
• 5Y*: 6.02%
• 10Y*: —

BND

• 1D: -0.27%
• 1M: 0.53%
• YTD: 0.38%
• 6M: 0.45%
• 1Y: 4.37%
• 3Y*: 3.92%
• 5Y*: 0.04%
• 10Y*: 1.55%

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

FSISX vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FSISX Fidelity SAI International Small Cap Index Fund	9.43%	32.61%	1.74%	13.23%	-21.18%	-0.40%
BND Vanguard Total Bond Market ETF	0.38%	7.08%	1.38%	5.65%	-13.11%	0.66%

Correlation

The correlation between FSISX and BND is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since May 27, 2021	0.28

The correlation between FSISX and BND shifts across timeframes, from 0.28 (all time) to 0.44 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FSISX vs. BND — Risk / Return Rank

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

FSISX

FSISX Risk / Return Rank: 37
FSISX Sharpe Ratio Rank: 40
FSISX Sortino Ratio Rank: 39
FSISX Omega Ratio Rank: 40
FSISX Calmar Ratio Rank: 32
FSISX Martin Ratio Rank: 35

BND

BND Risk / Return Rank: 33
BND Sharpe Ratio Rank: 33
BND Sortino Ratio Rank: 34
BND Omega Ratio Rank: 31
BND Calmar Ratio Rank: 33
BND Martin Ratio Rank: 33

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.

FSISX vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI International Small Cap Index Fund (FSISX) and Vanguard Total Bond Market ETF (BND). 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.

	FSISX	BND	Difference
Sharpe ratio: Return per unit of total volatility	1.71	1.18	+0.53
Sortino ratio: Return per unit of downside risk	2.44	1.76	+0.68
Omega ratio: Gain probability vs. loss probability	1.31	1.21	+0.11
Calmar ratio: Return relative to maximum drawdown	2.01	1.64	+0.37
Martin ratio: Return relative to average drawdown	7.37	4.69	+2.68

FSISX vs. BND - Sharpe Ratio Comparison

The current FSISX Sharpe Ratio is 1.71, which is higher than the BND Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of FSISX and BND, 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

FSISX vs. BND - Drawdown Comparison

The maximum FSISX drawdown since its inception was -36.84%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for FSISX and BND.

Drawdown Indicators

	FSISX	BND	Difference
Max Drawdown Largest peak-to-trough decline	-36.84%	-18.58%	-18.26%
Max Drawdown (1Y) Largest decline over 1 year	-11.73%	-2.68%	-9.05%
Max Drawdown (3Y) Largest decline over 3 years	-14.75%	-5.92%	-8.83%
Max Drawdown (5Y) Largest decline over 5 years	-36.84%	-17.91%	-18.93%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.58%	—
Current Drawdown Current decline from peak	-2.07%	-2.26%	+0.19%
Average Drawdown Average peak-to-trough decline	-13.01%	-3.06%	-9.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	0.93%	+2.26%

Volatility

FSISX vs. BND - Volatility Comparison

Fidelity SAI International Small Cap Index Fund (FSISX) has a higher volatility of 4.45% compared to Vanguard Total Bond Market ETF (BND) at 1.08%. This indicates that FSISX's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSISX	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.45%	1.08%	+3.37%
Volatility (6M) Calculated over the trailing 6-month period	11.37%	2.77%	+8.60%
Volatility (1Y) Calculated over the trailing 1-year period	13.85%	3.74%	+10.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.95%	6.03%	+9.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.89%	5.54%	+10.35%

FSISX vs. BND - Expense Ratio Comparison

FSISX has a 0.10% expense ratio, which is higher than BND's 0.03% 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%.

Dividends

FSISX vs. BND - Dividend Comparison

FSISX's dividend yield for the trailing twelve months is around 3.38%, less than BND's 3.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BND Vanguard Total Bond Market ETF	3.96%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%
FSISX Fidelity SAI International Small Cap Index Fund	3.38%	3.70%	3.33%	3.13%	3.02%	1.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSISX and BND in my portfolio?

FSISX and BND have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSISX or BND?

FSISX has higher volatility (4.45%) compared to BND (1.08%). In terms of maximum drawdown, FSISX dropped -36.84% vs BND's -18.58%.

Which has better risk-adjusted returns?

FSISX currently has the higher Sharpe Ratio (1.71 vs 1.18), 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.