FSPWX vs. BKIPX
Compare and contrast key facts about Fidelity SAI Inflation-Protected Bond Index Fund (FSPWX) and iShares Short-Term TIPS Bond Index Fund Class K (BKIPX).
FSPWX is a passively managed fund by Fidelity that tracks the performance of the Bloomberg U.S. Treasury Inflation Protected Securities Index. It was launched on Aug 16, 2024. BKIPX is a passively managed fund by iShares that tracks the performance of the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index. It was launched on Feb 16, 2016. Both FSPWX and BKIPX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FSPWX vs. BKIPX - Performance Comparison
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FSPWX vs. BKIPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FSPWX Fidelity SAI Inflation-Protected Bond Index Fund | 0.50% | 6.76% | -1.32% |
BKIPX iShares Short-Term TIPS Bond Index Fund Class K | 0.73% | 6.08% | 1.28% |
Returns By Period
In the year-to-date period, FSPWX achieves a 0.50% return, which is significantly lower than BKIPX's 0.73% return.
FSPWX
- 1D
- 0.70%
- 1M
- -1.27%
- YTD
- 0.50%
- 6M
- 0.41%
- 1Y
- 2.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BKIPX
- 1D
- 0.20%
- 1M
- -0.20%
- YTD
- 0.73%
- 6M
- 1.06%
- 1Y
- 3.68%
- 3Y*
- 4.22%
- 5Y*
- 2.90%
- 10Y*
- —
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FSPWX vs. BKIPX - Expense Ratio Comparison
FSPWX has a 0.05% expense ratio, which is lower than BKIPX's 0.06% expense ratio. Despite the difference, 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
FSPWX vs. BKIPX — Risk / Return Rank
FSPWX
BKIPX
FSPWX vs. BKIPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Inflation-Protected Bond Index Fund (FSPWX) and iShares Short-Term TIPS Bond Index Fund Class K (BKIPX). 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.
| FSPWX | BKIPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.84 | 1.84 | -1.00 |
Sortino ratioReturn per unit of downside risk | 1.17 | 3.16 | -1.99 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.44 | -0.29 |
Calmar ratioReturn relative to maximum drawdown | 1.41 | 4.28 | -2.87 |
Martin ratioReturn relative to average drawdown | 4.38 | 12.41 | -8.03 |
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
| FSPWX | BKIPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 1.84 | -1.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.95 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 1.11 | -0.23 |
Correlation
The correlation between FSPWX and BKIPX is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
FSPWX vs. BKIPX - Dividend Comparison
FSPWX's dividend yield for the trailing twelve months is around 4.17%, more than BKIPX's 3.60% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSPWX Fidelity SAI Inflation-Protected Bond Index Fund | 4.17% | 4.19% | 0.69% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BKIPX iShares Short-Term TIPS Bond Index Fund Class K | 3.60% | 4.68% | 4.33% | 2.77% | 4.80% | 4.41% | 1.17% | 2.54% | 2.56% | 1.90% |
Drawdowns
FSPWX vs. BKIPX - Drawdown Comparison
The maximum FSPWX drawdown since its inception was -3.84%, smaller than the maximum BKIPX drawdown of -6.42%. Use the drawdown chart below to compare losses from any high point for FSPWX and BKIPX.
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Drawdown Indicators
| FSPWX | BKIPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.84% | -6.42% | +2.58% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -1.12% | -1.79% |
Max Drawdown (5Y)Largest decline over 5 years | — | -6.42% | — |
Current DrawdownCurrent decline from peak | -1.27% | -0.51% | -0.76% |
Average DrawdownAverage peak-to-trough decline | -1.04% | -1.08% | +0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.39% | +0.55% |
Volatility
FSPWX vs. BKIPX - Volatility Comparison
Fidelity SAI Inflation-Protected Bond Index Fund (FSPWX) has a higher volatility of 1.44% compared to iShares Short-Term TIPS Bond Index Fund Class K (BKIPX) at 0.66%. This indicates that FSPWX's price experiences larger fluctuations and is considered to be riskier than BKIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSPWX | BKIPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 0.66% | +0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 1.27% | +1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 2.51% | +1.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.17% | 3.08% | +1.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.17% | 2.62% | +1.55% |