PBDIX vs. FNSOX
Compare and contrast key facts about T. Rowe Price QM U.S. Bond Index Fund (PBDIX) and Fidelity Short-Term Bond Index Fund (FNSOX).
PBDIX is managed by T. Rowe Price. FNSOX is managed by Fidelity. It was launched on Oct 18, 2017.
Performance
PBDIX vs. FNSOX - Performance Comparison
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PBDIX vs. FNSOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBDIX T. Rowe Price QM U.S. Bond Index Fund | -0.33% | 10.63% | 1.96% | 5.47% | -14.24% | -1.45% | 8.17% | 8.69% | -0.01% | 0.37% |
FNSOX Fidelity Short-Term Bond Index Fund | -0.22% | 6.01% | 3.90% | 4.90% | -5.76% | -1.25% | 4.28% | 4.95% | 1.14% | -0.22% |
Returns By Period
In the year-to-date period, PBDIX achieves a -0.33% return, which is significantly lower than FNSOX's -0.22% return.
PBDIX
- 1D
- 0.52%
- 1M
- -2.44%
- YTD
- -0.33%
- 6M
- 1.93%
- 1Y
- 7.31%
- 3Y*
- 4.79%
- 5Y*
- 0.69%
- 10Y*
- 2.02%
FNSOX
- 1D
- 0.20%
- 1M
- -1.18%
- YTD
- -0.22%
- 6M
- 0.91%
- 1Y
- 3.69%
- 3Y*
- 4.22%
- 5Y*
- 1.56%
- 10Y*
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PBDIX vs. FNSOX - Expense Ratio Comparison
PBDIX has a 0.23% expense ratio, which is higher than FNSOX's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
PBDIX vs. FNSOX — Risk / Return Rank
PBDIX
FNSOX
PBDIX vs. FNSOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price QM U.S. Bond Index Fund (PBDIX) and Fidelity Short-Term Bond Index Fund (FNSOX). 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.
| PBDIX | FNSOX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.73 | 1.82 | -0.10 |
Sortino ratioReturn per unit of downside risk | 2.51 | 2.83 | -0.32 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.37 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 2.64 | 2.86 | -0.21 |
Martin ratioReturn relative to average drawdown | 8.49 | 10.76 | -2.27 |
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
| PBDIX | FNSOX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.73 | 1.82 | -0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.55 | -0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.85 | 0.83 | +0.03 |
Correlation
The correlation between PBDIX and FNSOX is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PBDIX vs. FNSOX - Dividend Comparison
PBDIX's dividend yield for the trailing twelve months is around 7.42%, more than FNSOX's 3.15% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBDIX T. Rowe Price QM U.S. Bond Index Fund | 7.42% | 7.33% | 4.48% | 3.49% | 2.01% | 1.84% | 3.59% | 3.18% | 2.94% | 2.75% | 2.82% | 2.99% |
FNSOX Fidelity Short-Term Bond Index Fund | 3.15% | 3.22% | 2.80% | 1.74% | 0.81% | 0.80% | 1.54% | 2.61% | 2.04% | 0.34% | 0.00% | 0.00% |
Drawdowns
PBDIX vs. FNSOX - Drawdown Comparison
The maximum PBDIX drawdown since its inception was -19.20%, which is greater than FNSOX's maximum drawdown of -8.92%. Use the drawdown chart below to compare losses from any high point for PBDIX and FNSOX.
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Drawdown Indicators
| PBDIX | FNSOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.20% | -8.92% | -10.28% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -1.47% | -1.47% |
Max Drawdown (5Y)Largest decline over 5 years | -19.10% | -8.77% | -10.33% |
Max Drawdown (10Y)Largest decline over 10 years | -19.20% | — | — |
Current DrawdownCurrent decline from peak | -2.44% | -1.18% | -1.26% |
Average DrawdownAverage peak-to-trough decline | -2.52% | -1.75% | -0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.39% | +0.53% |
Volatility
PBDIX vs. FNSOX - Volatility Comparison
T. Rowe Price QM U.S. Bond Index Fund (PBDIX) has a higher volatility of 1.71% compared to Fidelity Short-Term Bond Index Fund (FNSOX) at 0.78%. This indicates that PBDIX's price experiences larger fluctuations and is considered to be riskier than FNSOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBDIX | FNSOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 0.78% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 1.37% | +1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.72% | 2.21% | +2.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 2.86% | +3.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 2.48% | +2.50% |