FSTZX vs. FTBFX

Last updated Aug 1, 2026

FSTZX (Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund) and FTBFX (Fidelity Total Bond Fund) are both mutual funds - FSTZX is a Inflation-Protected Bonds fund managed by Fidelity, while FTBFX is a Intermediate Core-Plus Bond fund actively managed by Fidelity. Over the past 3 years, FSTZX returned 4.66%/yr vs 4.27%/yr for FTBFX. Their 0.59 correlation means they have sometimes moved together and sometimes differently. FSTZX charges 0.00%/yr vs 0.45%/yr for FTBFX.

Performance

FSTZX vs. FTBFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund (FSTZX) and Fidelity Total Bond Fund (FTBFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSTZX achieves a 0.67% return, which is significantly higher than FTBFX's -0.46% return.

FSTZX

• 1D: 0.00%
• 1M: -0.90%
• 6M: 0.06%
• YTD: 0.67%
• 1Y: 1.86%
• 3Y*: 4.66%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.92%

FTBFX

• 1D: 0.11%
• 1M: -1.26%
• 6M: -0.69%
• YTD: -0.46%
• 1Y: 2.07%
• 3Y*: 4.27%
• 5Y*: 0.12%
• 10Y*: 2.16%
• ALL TIME*: 3.88%

*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)
FSTZX Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	$0.00	$0.00	$0.00
FTBFX Fidelity Total Bond Fund	$0.00	$0.00	$0.00

FSTZX vs. FTBFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FSTZX Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	0.67%	5.99%	4.87%	4.67%	-2.83%	1.32%
FTBFX Fidelity Total Bond Fund	-0.46%	7.50%	2.13%	7.25%	-13.58%	-0.33%

Correlation

The correlation between FSTZX and FTBFX is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (3Y) Balances recent behavior with more history.	0.61
Correlation (All Time) Calculated using the full available price history since Aug 16, 2021	0.59

Over the past year, the correlation between FSTZX and FTBFX has dropped to 0.39 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.

Return for Risk

FSTZX vs. FTBFX — Risk / Return Rank

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

FSTZX

FSTZX Risk / Return Rank: 36
FSTZX Sharpe Ratio Rank: 32
FSTZX Sortino Ratio Rank: 26
FSTZX Omega Ratio Rank: 53
FSTZX Calmar Ratio Rank: 32
FSTZX Martin Ratio Rank: 36

FTBFX

FTBFX Risk / Return Rank: 24
FTBFX Sharpe Ratio Rank: 26
FTBFX Sortino Ratio Rank: 25
FTBFX Omega Ratio Rank: 24
FTBFX Calmar Ratio Rank: 25
FTBFX Martin Ratio Rank: 21

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.

FSTZX vs. FTBFX - 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 Fidelity Total Bond Fund (FTBFX). 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	FTBFX	Difference
Sharpe ratio: Return per unit of total volatility	1.02	0.86	+0.17
Sortino ratio: Return per unit of downside risk	1.30	1.25	+0.04
Omega ratio: Gain probability vs. loss probability	1.25	1.15	+0.10
Calmar ratio: Return relative to maximum drawdown	1.37	1.11	+0.26
Martin ratio: Return relative to average drawdown	5.22	2.83	+2.39

FSTZX vs. FTBFX - Sharpe Ratio Comparison

The current FSTZX Sharpe Ratio is 1.02, which is comparable to the FTBFX Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of FSTZX and FTBFX, 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

FSTZX vs. FTBFX - Drawdown Comparison

The maximum FSTZX drawdown since its inception was -5.30%, smaller than the maximum FTBFX drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for FSTZX and FTBFX.

Drawdown Indicators

	FSTZX	FTBFX	Difference
Max Drawdown Largest peak-to-trough decline	-5.30%	-18.25%	+12.95%
Max Drawdown (1Y) Largest decline over 1 year	-1.59%	-2.89%	+1.30%
Max Drawdown (3Y) Largest decline over 3 years	-1.59%	-4.96%	+3.37%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.25%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.25%	—
Current Drawdown Current decline from peak	-1.39%	-2.31%	+0.92%
Average Drawdown Average peak-to-trough decline	-1.08%	-2.31%	+1.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.42%	1.13%	-0.71%

Volatility

FSTZX vs. FTBFX - Volatility Comparison

Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund (FSTZX) has a higher volatility of 1.40% compared to Fidelity Total Bond Fund (FTBFX) at 1.04%. This indicates that FSTZX's price experiences larger fluctuations and is considered to be riskier than FTBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSTZX	FTBFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.40%	1.04%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	1.83%	3.00%	-1.17%
Volatility (1Y) Calculated over the trailing 1-year period	2.13%	3.76%	-1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.83%	5.68%	-2.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.83%	4.74%	-1.91%

FSTZX vs. FTBFX - Expense Ratio Comparison

FSTZX has a 0.00% expense ratio, which is lower than FTBFX's 0.45% expense ratio.

Dividends

FSTZX vs. FTBFX - Dividend Comparison

FSTZX's dividend yield for the trailing twelve months is around 2.87%, less than FTBFX's 4.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
FTBFX Fidelity Total Bond Fund	4.03%	4.36%	4.15%	4.15%	2.54%	1.89%	5.22%	3.03%	3.19%	2.97%	3.61%	3.30%

Frequently Asked Questions

Can I hold both FSTZX and FTBFX in my portfolio?

FSTZX and FTBFX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSTZX or FTBFX?

FSTZX has higher volatility (1.40%) compared to FTBFX (1.04%). In terms of maximum drawdown, FSTZX dropped -5.30% vs FTBFX's -18.25%.

Which has better risk-adjusted returns?

FSTZX currently has the higher Sharpe Ratio (1.02 vs 0.86), 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.