FSPWX vs. WIW
FSPWX (Fidelity SAI Inflation-Protected Bond Index Fund) and WIW (Western Asset Inflation-Linked Opportunities & Income Fund) are both Inflation-Protected Bonds funds. Over the past year, FSPWX returned 4.04% vs 4.66% for WIW. At a 0.49 correlation, their price movements are largely independent.
Performance
FSPWX vs. WIW - Performance Comparison
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Returns By Period
In the year-to-date period, FSPWX achieves a 1.23% return, which is significantly higher than WIW's 1.07% return.
FSPWX
- 1D
- 0.30%
- 1M
- 0.39%
- YTD
- 1.23%
- 6M
- 1.33%
- 1Y
- 4.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
WIW
- 1D
- -0.71%
- 1M
- -0.71%
- YTD
- 1.07%
- 6M
- 1.22%
- 1Y
- 4.66%
- 3Y*
- 6.63%
- 5Y*
- 0.94%
- 10Y*
- 3.82%
FSPWX vs. WIW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FSPWX Fidelity SAI Inflation-Protected Bond Index Fund | 1.23% | 6.76% | -1.32% |
WIW Western Asset Inflation-Linked Opportunities & Income Fund | 1.07% | 13.17% | -0.91% |
Correlation
The correlation between FSPWX and WIW is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2024 | 0.49 |
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Return for Risk
FSPWX vs. WIW — Risk / Return Rank
FSPWX
WIW
FSPWX vs. WIW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Inflation-Protected Bond Index Fund (FSPWX) and Western Asset Inflation-Linked Opportunities & Income Fund (WIW). 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.
| FSPWX | WIW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.13 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 1.30 | +0.85 |
| Martin ratioReturn relative to average drawdown | 6.52 | 3.40 | +3.12 |
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Drawdowns
FSPWX vs. WIW - Drawdown Comparison
The maximum FSPWX drawdown since its inception was -3.84%, smaller than the maximum WIW drawdown of -29.49%. Use the drawdown chart below to compare losses from any high point for FSPWX and WIW.
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Drawdown Indicators
| FSPWX | WIW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.84% | -29.49% | +25.65% |
Max Drawdown (1Y)Largest decline over 1 year | -1.95% | -3.61% | +1.66% |
Max Drawdown (3Y)Largest decline over 3 years | — | -8.65% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.49% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.49% | — |
Current DrawdownCurrent decline from peak | -0.59% | -6.76% | +6.17% |
Average DrawdownAverage peak-to-trough decline | -0.96% | -7.96% | +7.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 1.37% | -0.73% |
Volatility
FSPWX vs. WIW - Volatility Comparison
The current volatility for Fidelity SAI Inflation-Protected Bond Index Fund (FSPWX) is 1.16%, while Western Asset Inflation-Linked Opportunities & Income Fund (WIW) has a volatility of 1.58%. This indicates that FSPWX experiences smaller price fluctuations and is considered to be less risky than WIW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSPWX | WIW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 1.58% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 2.40% | 4.12% | -1.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.32% | 6.87% | -3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.06% | 10.16% | -6.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.06% | 9.98% | -5.92% |
Dividends
FSPWX vs. WIW - Dividend Comparison
FSPWX's dividend yield for the trailing twelve months is around 3.78%, less than WIW's 8.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSPWX Fidelity SAI Inflation-Protected Bond Index Fund | 3.78% | 4.19% | 0.69% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WIW Western Asset Inflation-Linked Opportunities & Income Fund | 8.96% | 8.68% | 8.78% | 10.38% | 11.81% | 6.93% | 3.20% | 3.74% | 4.26% | 3.70% | 3.61% | 3.91% |
Frequently Asked Questions
FSPWX and WIW have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WIW has higher volatility (1.58%) compared to FSPWX (1.16%). In terms of maximum drawdown, FSPWX dropped -3.84% vs WIW's -29.49%.
FSPWX currently has the higher Sharpe Ratio (1.26 vs 0.68), 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.
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