SPAX vs. FUMBX

Last updated Apr 1, 2026

Compare and contrast key facts about Robinson Alternative Yield Pre-merger SPAC ETF (SPAX) and Fidelity Short-Term Treasury Bond Index Fund (FUMBX).

SPAX is an actively managed fund by Toroso Investments. It was launched on Jun 22, 2021. FUMBX is a passively managed fund by Fidelity that tracks the performance of the Bloomberg Barclays 1-5 Year U.S. Treasury Index. It was launched on Dec 20, 2005.

Performance

SPAX vs. FUMBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Robinson Alternative Yield Pre-merger SPAC ETF (SPAX) and Fidelity Short-Term Treasury Bond Index Fund (FUMBX). The values are adjusted to include any dividend payments, if applicable.

SPAX vs. FUMBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SPAX Robinson Alternative Yield Pre-merger SPAC ETF	0.00%	0.02%	5.11%	6.63%	1.25%	2.19%
FUMBX Fidelity Short-Term Treasury Bond Index Fund	-0.20%	5.83%	3.25%	4.47%	-5.84%	-0.62%

Returns By Period

SPAX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FUMBX

• 1D: 0.19%
• 1M: -1.15%
• YTD: -0.20%
• 6M: 0.95%
• 1Y: 3.45%
• 3Y*: 3.77%
• 5Y*: 1.29%
• 10Y*: —

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

SPAX vs. FUMBX - Expense Ratio Comparison

SPAX has a 0.85% expense ratio, which is higher than FUMBX's 0.03% expense ratio.

SPAX

Robinson Alternative Yield Pre-merger SPAC ETF

FUMBX

Fidelity Short-Term Treasury Bond Index Fund

Return for Risk

SPAX vs. FUMBX — Risk / Return Rank

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

FUMBX

FUMBX Risk / Return Rank: 88
FUMBX Sharpe Ratio Rank: 86
FUMBX Sortino Ratio Rank: 91
FUMBX Omega Ratio Rank: 85
FUMBX Calmar Ratio Rank: 91
FUMBX Martin Ratio Rank: 87

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.

SPAX vs. FUMBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Robinson Alternative Yield Pre-merger SPAC ETF (SPAX) and Fidelity Short-Term Treasury Bond Index Fund (FUMBX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SPAX	FUMBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.64	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.45	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.72	—

Correlation

The correlation between SPAX and FUMBX is 0.02, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SPAX vs. FUMBX - Dividend Comparison

SPAX has not paid dividends to shareholders, while FUMBX's dividend yield for the trailing twelve months is around 3.42%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPAX Robinson Alternative Yield Pre-merger SPAC ETF	0.00%	0.00%	5.50%	7.54%	0.97%	0.00%	0.00%	0.00%	0.00%	0.00%
FUMBX Fidelity Short-Term Treasury Bond Index Fund	3.42%	3.51%	2.91%	1.64%	0.86%	1.15%	1.41%	1.88%	1.64%	0.34%

Drawdowns

Drawdown Indicators

	SPAX	FUMBX	Difference
Max Drawdown Largest peak-to-trough decline	—	-8.83%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-1.54%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-8.60%	—
Current Drawdown Current decline from peak	—	-1.15%	—
Average Drawdown Average peak-to-trough decline	—	-1.88%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.44%	—

Volatility

Volatility by Period

	SPAX	FUMBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.76%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.37%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	2.32%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	2.89%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	2.49%	—