ISMD vs. FXNAX

Last updated Jun 9, 2026

ISMD (Inspire Small/Mid Cap Impact ETF) and FXNAX (Fidelity U.S. Bond Index Fund) are both funds - ISMD is a Small Cap Blend Equities fund tracking the Inspire Small/Mid Cap Impact Equal Weight Index, while FXNAX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. Both are passively managed. Over the past 5 years, ISMD returned 7.49%/yr vs -0.04%/yr for FXNAX. At a correlation of -0.02, they often move in opposite directions. ISMD charges 0.57%/yr vs 0.03%/yr for FXNAX.

Performance

ISMD vs. FXNAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Inspire Small/Mid Cap Impact ETF (ISMD) and Fidelity U.S. Bond Index Fund (FXNAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISMD achieves a 21.88% return, which is significantly higher than FXNAX's -0.08% return.

ISMD

• 1D: 0.86%
• 1M: 2.61%
• YTD: 21.88%
• 6M: 21.56%
• 1Y: 35.85%
• 3Y*: 15.56%
• 5Y*: 7.49%
• 10Y*: —

FXNAX

• 1D: -0.38%
• 1M: -0.54%
• YTD: -0.08%
• 6M: 0.33%
• 1Y: 5.07%
• 3Y*: 3.82%
• 5Y*: -0.04%
• 10Y*: 1.47%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ISMD vs. FXNAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISMD Inspire Small/Mid Cap Impact ETF	21.88%	4.14%	9.53%	16.74%	-13.44%	29.38%	7.45%	24.62%	-12.63%	8.73%
FXNAX Fidelity U.S. Bond Index Fund	-0.08%	7.14%	1.35%	5.82%	-13.55%	-2.10%	7.63%	8.50%	0.04%	2.73%

Correlation

The correlation between ISMD and FXNAX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (All Time) Calculated using the full available price history since Feb 28, 2017	-0.02

The correlation between ISMD and FXNAX shifts across timeframes, from -0.02 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ISMD vs. FXNAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ISMD

ISMD Risk / Return Rank: 68
ISMD Sharpe Ratio Rank: 65
ISMD Sortino Ratio Rank: 65
ISMD Omega Ratio Rank: 60
ISMD Calmar Ratio Rank: 80
ISMD Martin Ratio Rank: 70

FXNAX

FXNAX Risk / Return Rank: 18
FXNAX Sharpe Ratio Rank: 18
FXNAX Sortino Ratio Rank: 18
FXNAX Omega Ratio Rank: 17
FXNAX Calmar Ratio Rank: 20
FXNAX Martin Ratio Rank: 19

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ISMD vs. FXNAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Inspire Small/Mid Cap Impact ETF (ISMD) and Fidelity U.S. Bond Index Fund (FXNAX). 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.

	ISMD	FXNAX	Difference
Sharpe ratio: Return per unit of total volatility	1.93	1.14	+0.79
Sortino ratio: Return per unit of downside risk	2.71	1.70	+1.01
Omega ratio: Gain probability vs. loss probability	1.33	1.20	+0.13
Calmar ratio: Return relative to maximum drawdown	3.74	1.52	+2.22
Martin ratio: Return relative to average drawdown	11.68	4.58	+7.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISMD vs. FXNAX - Sharpe Ratio Comparison

The current ISMD Sharpe Ratio is 1.93, which is higher than the FXNAX Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of ISMD and FXNAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ISMD	FXNAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	1.14	+0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	-0.01	+0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.45	-0.05

Drawdowns

ISMD vs. FXNAX - Drawdown Comparison

The maximum ISMD drawdown since its inception was -44.60%, which is greater than FXNAX's maximum drawdown of -19.51%. Use the drawdown chart below to compare losses from any high point for ISMD and FXNAX.

Drawdown Indicators

	ISMD	FXNAX	Difference
Max Drawdown Largest peak-to-trough decline	-44.60%	-19.51%	-25.09%
Max Drawdown (1Y) Largest decline over 1 year	-9.64%	-2.94%	-6.70%
Max Drawdown (3Y) Largest decline over 3 years	-26.64%	-6.16%	-20.48%
Max Drawdown (5Y) Largest decline over 5 years	-26.64%	-18.54%	-8.10%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.51%	—
Current Drawdown Current decline from peak	-1.57%	-3.35%	+1.78%
Average Drawdown Average peak-to-trough decline	-8.16%	-3.86%	-4.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.08%	0.98%	+2.10%

Volatility

ISMD vs. FXNAX - Volatility Comparison

Inspire Small/Mid Cap Impact ETF (ISMD) has a higher volatility of 5.75% compared to Fidelity U.S. Bond Index Fund (FXNAX) at 1.36%. This indicates that ISMD's price experiences larger fluctuations and is considered to be riskier than FXNAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISMD	FXNAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.75%	1.36%	+4.39%
Volatility (6M) Calculated over the trailing 6-month period	12.84%	2.82%	+10.02%
Volatility (1Y) Calculated over the trailing 1-year period	18.74%	3.94%	+14.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.91%	6.07%	+14.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.74%	5.01%	+18.73%

ISMD vs. FXNAX - Expense Ratio Comparison

ISMD has a 0.57% expense ratio, which is higher than FXNAX's 0.03% expense ratio.

Dividends

ISMD vs. FXNAX - Dividend Comparison

ISMD's dividend yield for the trailing twelve months is around 0.94%, less than FXNAX's 3.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXNAX Fidelity U.S. Bond Index Fund	3.72%	3.58%	3.40%	3.15%	1.81%	1.74%	2.92%	2.68%	2.74%	2.57%	2.76%	2.52%
ISMD Inspire Small/Mid Cap Impact ETF	0.94%	1.21%	1.24%	1.17%	1.28%	9.35%	0.99%	0.88%	1.35%	2.02%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ISMD and FXNAX in my portfolio?

ISMD and FXNAX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISMD or FXNAX?

ISMD has higher volatility (5.75%) compared to FXNAX (1.36%). In terms of maximum drawdown, ISMD dropped -44.60% vs FXNAX's -19.51%.

Which has better risk-adjusted returns?

ISMD currently has the higher Sharpe Ratio (1.93 vs 1.14), 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.