FXNAX vs. FZIIX
Compare and contrast key facts about Fidelity U.S. Bond Index Fund (FXNAX) and Fidelity Advisor Intermediate Municipal Income Fund Class I (FZIIX).
FXNAX is managed by Fidelity. FZIIX is managed by Fidelity. It was launched on Oct 31, 2005.
Performance
FXNAX vs. FZIIX - Performance Comparison
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Returns By Period
In the year-to-date period, FXNAX achieves a 0.24% return, which is significantly higher than FZIIX's -0.35% return. Over the past 10 years, FXNAX has underperformed FZIIX with an annualized return of 1.59%, while FZIIX has yielded a comparatively higher 2.05% annualized return.
FXNAX
- 1D
- 0.19%
- 1M
- -0.63%
- YTD
- 0.24%
- 6M
- 0.98%
- 1Y
- 3.72%
- 3Y*
- 3.56%
- 5Y*
- 0.20%
- 10Y*
- 1.59%
FZIIX
- 1D
- 0.10%
- 1M
- -1.54%
- YTD
- -0.35%
- 6M
- 0.96%
- 1Y
- 3.64%
- 3Y*
- 3.16%
- 5Y*
- 1.17%
- 10Y*
- 2.05%
FXNAX vs. FZIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXNAX Fidelity U.S. Bond Index Fund | 0.24% | 7.14% | 1.35% | 5.82% | -13.55% | -2.10% | 7.63% | 8.50% | 0.04% | 3.50% |
FZIIX Fidelity Advisor Intermediate Municipal Income Fund Class I | -0.35% | 5.91% | 1.02% | 5.53% | -7.05% | 0.93% | 4.46% | 6.47% | 1.15% | 4.51% |
Correlation
The correlation between FXNAX and FZIIX is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined. Holding both can reduce overall portfolio volatility compared to holding either one alone.
FXNAX vs. FZIIX - Expense Ratio Comparison
FXNAX has a 0.03% expense ratio, which is lower than FZIIX's 0.39% expense ratio.
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Return for Risk
FXNAX vs. FZIIX — Risk / Return Rank
FXNAX
FZIIX
FXNAX vs. FZIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. Bond Index Fund (FXNAX) and Fidelity Advisor Intermediate Municipal Income Fund Class I (FZIIX). 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.
| FXNAX | FZIIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.00 | 1.23 | -0.23 |
Sortino ratioReturn per unit of downside risk | 1.44 | 1.63 | -0.19 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.35 | -0.17 |
Calmar ratioReturn relative to maximum drawdown | 1.55 | 1.23 | +0.33 |
Martin ratioReturn relative to average drawdown | 4.34 | 4.58 | -0.24 |
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
| FXNAX | FZIIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.00 | 1.23 | -0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.39 | -0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | 0.64 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 1.00 | -0.54 |
Drawdowns
FXNAX vs. FZIIX - Drawdown Comparison
The maximum FXNAX drawdown since its inception was -19.51%, which is greater than FZIIX's maximum drawdown of -10.95%. Use the drawdown chart below to compare losses from any high point for FXNAX and FZIIX.
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Drawdown Indicators
| FXNAX | FZIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.51% | -10.95% | -8.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.71% | -3.56% | +0.85% |
Max Drawdown (5Y)Largest decline over 5 years | -18.54% | -10.95% | -7.59% |
Max Drawdown (10Y)Largest decline over 10 years | -19.51% | -10.95% | -8.56% |
Current DrawdownCurrent decline from peak | -3.04% | -2.30% | -0.74% |
Average DrawdownAverage peak-to-trough decline | -3.87% | -1.51% | -2.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.95% | +0.02% |
Volatility
FXNAX vs. FZIIX - Volatility Comparison
Fidelity U.S. Bond Index Fund (FXNAX) has a higher volatility of 1.66% compared to Fidelity Advisor Intermediate Municipal Income Fund Class I (FZIIX) at 0.95%. This indicates that FXNAX's price experiences larger fluctuations and is considered to be riskier than FZIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXNAX | FZIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 0.95% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 2.61% | 1.47% | +1.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.34% | 3.56% | +0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.04% | 3.01% | +3.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.99% | 3.20% | +1.79% |
Dividends
FXNAX vs. FZIIX - Dividend Comparison
FXNAX's dividend yield for the trailing twelve months is around 3.65%, more than FZIIX's 2.77% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXNAX Fidelity U.S. Bond Index Fund | 3.65% | 3.58% | 3.40% | 3.15% | 1.81% | 1.74% | 2.92% | 2.68% | 2.74% | 2.57% | 2.76% | 2.52% |
FZIIX Fidelity Advisor Intermediate Municipal Income Fund Class I | 2.77% | 3.61% | 2.41% | 2.34% | 1.31% | 1.76% | 2.10% | 2.52% | 2.58% | 2.56% | 3.11% | 2.29% |