FSTZX vs. BIIPX
FSTZX (Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund) and BIIPX (iShares Short-Term TIPS Bond Index Fund) are both Inflation-Protected Bonds funds. Over the past 3 years, FSTZX returned 4.89%/yr vs 4.99%/yr for BIIPX. Their correlation of 0.83 suggests significant overlap in exposure. FSTZX charges 0.00%/yr vs 0.08%/yr for BIIPX.
Performance
FSTZX vs. BIIPX - Performance Comparison
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Returns By Period
In the year-to-date period, FSTZX achieves a 0.57% return, which is significantly lower than BIIPX's 1.49% return.
FSTZX
- 1D
- -1.30%
- 1M
- -1.20%
- 6M
- 0.36%
- YTD
- 0.57%
- 1Y
- 2.37%
- 3Y*
- 4.89%
- 5Y*
- —
- 10Y*
- —
BIIPX
- 1D
- -0.10%
- 1M
- 0.15%
- 6M
- 1.39%
- YTD
- 1.49%
- 1Y
- 3.53%
- 3Y*
- 4.99%
- 5Y*
- 2.71%
- 10Y*
- —
FSTZX vs. BIIPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FSTZX Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund | 0.57% | 5.99% | 4.87% | 4.67% | -2.83% | 1.32% |
BIIPX iShares Short-Term TIPS Bond Index Fund | 1.49% | 6.05% | 4.75% | 3.25% | -4.12% | 1.69% |
Correlation
The correlation between FSTZX and BIIPX is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2021 | 0.83 |
The correlation between FSTZX and BIIPX shifts across timeframes, from 0.70 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FSTZX vs. BIIPX — Risk / Return Rank
FSTZX
BIIPX
FSTZX vs. BIIPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund (FSTZX) and iShares Short-Term TIPS Bond Index Fund (BIIPX). 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.
| FSTZX | BIIPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.35 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 2.46 | -0.86 |
| Martin ratioReturn relative to average drawdown | 9.87 | 9.37 | +0.50 |
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Drawdowns
FSTZX vs. BIIPX - Drawdown Comparison
The maximum FSTZX drawdown since its inception was -5.30%, smaller than the maximum BIIPX drawdown of -6.46%. Use the drawdown chart below to compare losses from any high point for FSTZX and BIIPX.
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Drawdown Indicators
| FSTZX | BIIPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.30% | -6.46% | +1.16% |
Max Drawdown (1Y)Largest decline over 1 year | -1.49% | -1.44% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -1.49% | -1.44% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | — | -6.46% | — |
Current DrawdownCurrent decline from peak | -1.49% | -0.47% | -1.02% |
Average DrawdownAverage peak-to-trough decline | -1.08% | -1.08% | 0.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.24% | 0.38% | -0.14% |
Volatility
FSTZX vs. BIIPX - Volatility Comparison
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund (FSTZX) has a higher volatility of 1.50% compared to iShares Short-Term TIPS Bond Index Fund (BIIPX) at 1.07%. This indicates that FSTZX's price experiences larger fluctuations and is considered to be riskier than BIIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSTZX | BIIPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.50% | 1.07% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 1.84% | 1.96% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.16% | 2.45% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.84% | 3.12% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.84% | 2.65% | +0.19% |
FSTZX vs. BIIPX - Expense Ratio Comparison
FSTZX has a 0.00% expense ratio, which is lower than BIIPX's 0.08% 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%.
Dividends
FSTZX vs. BIIPX - Dividend Comparison
FSTZX's dividend yield for the trailing twelve months is around 2.87%, less than BIIPX's 5.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BIIPX iShares Short-Term TIPS Bond Index Fund | 5.19% | 4.64% | 4.30% | 2.65% | 4.56% | 4.39% | 1.58% | 2.27% | 2.74% | 1.89% |
FSTZX Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund | 2.87% | 4.02% | 2.78% | 2.54% | 5.25% | 0.82% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FSTZX and BIIPX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSTZX has higher volatility (1.50%) compared to BIIPX (1.07%). In terms of maximum drawdown, FSTZX dropped -5.30% vs BIIPX's -6.46%.
BIIPX currently has the higher Sharpe Ratio (1.45 vs 1.11), 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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