SWSBX vs. FUMBX

Last updated Jun 24, 2026

SWSBX (Schwab Short-Term Bond Index Fund) and FUMBX (Fidelity Short-Term Treasury Bond Index Fund) are both Short-Term Bond funds - SWSBX tracks the Bloomberg US Government/Credit 1-5 Year Index while FUMBX tracks the Bloomberg U.S. 1-5 Year Treasury Bond Index. Both are passively managed. Over the past 5 years, SWSBX returned 1.28%/yr vs 1.31%/yr for FUMBX. Their correlation of 0.87 suggests significant overlap in exposure. SWSBX charges 0.06%/yr vs 0.03%/yr for FUMBX.

Performance

SWSBX vs. FUMBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Short-Term Bond Index Fund (SWSBX) and Fidelity Short-Term Treasury Bond Index Fund (FUMBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWSBX achieves a 0.03% return, which is significantly higher than FUMBX's -0.11% return.

SWSBX

• 1D: -0.10%
• 1M: 0.14%
• YTD: 0.03%
• 6M: 0.49%
• 1Y: 3.10%
• 3Y*: 4.15%
• 5Y*: 1.28%
• 10Y*: —

FUMBX

• 1D: -0.10%
• 1M: 0.16%
• YTD: -0.11%
• 6M: 0.24%
• 1Y: 2.69%
• 3Y*: 4.03%
• 5Y*: 1.31%
• 10Y*: —

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

SWSBX vs. FUMBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWSBX Schwab Short-Term Bond Index Fund	0.03%	6.06%	3.42%	3.95%	-5.89%	-1.28%	4.47%	4.96%	1.34%	-0.06%
FUMBX Fidelity Short-Term Treasury Bond Index Fund	-0.11%	5.83%	3.25%	4.47%	-5.84%	-1.38%	4.22%	4.19%	1.47%	-0.33%

Correlation

The correlation between SWSBX and FUMBX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Oct 19, 2017	0.87

The correlation between SWSBX and FUMBX has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

Return for Risk

SWSBX vs. FUMBX — Risk / Return Rank

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

SWSBX

SWSBX Risk / Return Rank: 33
SWSBX Sharpe Ratio Rank: 29
SWSBX Sortino Ratio Rank: 38
SWSBX Omega Ratio Rank: 36
SWSBX Calmar Ratio Rank: 34
SWSBX Martin Ratio Rank: 29

FUMBX

FUMBX Risk / Return Rank: 29
FUMBX Sharpe Ratio Rank: 27
FUMBX Sortino Ratio Rank: 32
FUMBX Omega Ratio Rank: 32
FUMBX Calmar Ratio Rank: 29
FUMBX Martin Ratio Rank: 25

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.

SWSBX vs. FUMBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Short-Term Bond Index Fund (SWSBX) 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.

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.

	SWSBX	FUMBX	Difference
Sharpe ratio: Return per unit of total volatility	1.44	1.39	+0.05
Sortino ratio: Return per unit of downside risk	2.40	2.19	+0.21
Omega ratio: Gain probability vs. loss probability	1.30	1.28	+0.02
Calmar ratio: Return relative to maximum drawdown	2.09	1.89	+0.20
Martin ratio: Return relative to average drawdown	6.40	5.55	+0.84

SWSBX vs. FUMBX - Sharpe Ratio Comparison

The current SWSBX Sharpe Ratio is 1.44, which is comparable to the FUMBX Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of SWSBX and FUMBX, 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

SWSBX vs. FUMBX - Drawdown Comparison

The maximum SWSBX drawdown since its inception was -9.06%, roughly equal to the maximum FUMBX drawdown of -8.83%. Use the drawdown chart below to compare losses from any high point for SWSBX and FUMBX.

Drawdown Indicators

	SWSBX	FUMBX	Difference
Max Drawdown Largest peak-to-trough decline	-9.06%	-8.83%	-0.23%
Max Drawdown (1Y) Largest decline over 1 year	-1.54%	-1.54%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-1.79%	-1.57%	-0.22%
Max Drawdown (5Y) Largest decline over 5 years	-9.06%	-8.60%	-0.46%
Current Drawdown Current decline from peak	-0.94%	-1.06%	+0.12%
Average Drawdown Average peak-to-trough decline	-1.79%	-1.85%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.50%	0.52%	-0.02%

Volatility

SWSBX vs. FUMBX - Volatility Comparison

Schwab Short-Term Bond Index Fund (SWSBX) and Fidelity Short-Term Treasury Bond Index Fund (FUMBX) have volatilities of 0.70% and 0.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWSBX	FUMBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	0.70%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	1.68%	1.56%	+0.12%
Volatility (1Y) Calculated over the trailing 1-year period	2.24%	2.08%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.99%	2.93%	+0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.47%	2.49%	-0.02%

SWSBX vs. FUMBX - Expense Ratio Comparison

SWSBX has a 0.06% expense ratio, which is higher than FUMBX'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%.

Dividends

SWSBX vs. FUMBX - Dividend Comparison

SWSBX's dividend yield for the trailing twelve months is around 4.14%, more than FUMBX's 3.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FUMBX Fidelity Short-Term Treasury Bond Index Fund	3.77%	3.51%	2.91%	1.64%	0.86%	1.15%	1.41%	1.88%	1.64%	0.34%
SWSBX Schwab Short-Term Bond Index Fund	4.14%	4.09%	3.66%	2.36%	1.11%	0.97%	1.82%	2.41%	2.12%	1.56%

Frequently Asked Questions

Can I hold both SWSBX and FUMBX in my portfolio?

With a correlation of 0.90, SWSBX and FUMBX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SWSBX or FUMBX?

FUMBX has higher volatility (0.70%) compared to SWSBX (0.70%). In terms of maximum drawdown, SWSBX dropped -9.06% vs FUMBX's -8.83%.

Which has better risk-adjusted returns?

SWSBX currently has the higher Sharpe Ratio (1.44 vs 1.39), 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.