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USD=X vs. FSHBX
Performance
Return for Risk
Drawdowns
Volatility

USD=X vs. FSHBX

Last updated Jun 15, 2026

USD=X (USD Cash) is a currency, while FSHBX (Fidelity Short-Term Bond Fund) is Total Bond Market fund managed by Fidelity. Over the past 10 years, USD=X returned 0.00%/yr vs 2.11%/yr for FSHBX.

Performance

USD=X vs. FSHBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USD Cash (USD=X) and Fidelity Short-Term Bond Fund (FSHBX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

USD=X

1D
0.00%
1M
0.00%
YTD
0.00%
6M
0.00%
1Y
0.00%
3Y*
0.00%
5Y*
0.00%
10Y*
0.00%

FSHBX

1D
0.12%
1M
0.45%
YTD
0.56%
6M
1.00%
1Y
3.62%
3Y*
4.82%
5Y*
2.24%
10Y*
2.11%
*Multi-year figures are annualized to reflect compound growth (CAGR)

USD=X vs. FSHBX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USD=X
USD Cash		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
FSHBX
Fidelity Short-Term Bond Fund		0.56%5.49%4.73%5.35%-3.86%-0.92%3.59%4.20%1.21%1.16%

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USD Cash

Fidelity Short-Term Bond Fund

Often compared with USD=X:
USD=X vs. UUPUSD=X vs. EUR=XUSD=X vs. XRP-USDUSD=X vs. BTC-USDUSD=X vs. QQQUSD=X vs. TSLAUSD=X vs. USDX
Often compared with FSHBX:
FSHBX vs. FXNAXFSHBX vs. FCNVXFSHBX vs. FJRLXFSHBX vs. BSVFSHBX vs. SPAXXFSHBX vs. SCHOFSHBX vs. VBIRX

Return for Risk

USD=X vs. FSHBX — Risk / Return Rank

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

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

FSHBX
FSHBX Risk / Return Rank: 7878
Overall Rank
FSHBX Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
FSHBX Sortino Ratio Rank: 8484
Sortino Ratio Rank
FSHBX Omega Ratio Rank: 8282
Omega Ratio Rank
FSHBX Calmar Ratio Rank: 8181
Calmar Ratio Rank
FSHBX Martin Ratio Rank: 7979
Martin Ratio Rank
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.

USD=X vs. FSHBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD Cash (USD=X) and Fidelity Short-Term Bond Fund (FSHBX). 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.

USD=XFSHBXDifference
Sharpe ratioReturn per unit of total volatility

—

1.87

—

Sortino ratioReturn per unit of downside risk

—

3.38

—

Omega ratioGain probability vs. loss probability

—

1.45

—

Calmar ratioReturn relative to maximum drawdown

—

3.11

—

Martin ratioReturn relative to average drawdown

—

11.66

—

USD=X vs. FSHBX - Sharpe Ratio Comparison

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Drawdowns

USD=X vs. FSHBX - Drawdown Comparison

The maximum USD=X drawdown since its inception was 0.00%, smaller than the maximum FSHBX drawdown of -8.80%. Use the drawdown chart below to compare losses from any high point for USD=X and FSHBX.

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Drawdown Indicators

USD=XFSHBXDifference

Max Drawdown

Largest peak-to-trough decline

0.00%

-8.80%

+8.80%

Max Drawdown (1Y)

Largest decline over 1 year

0.00%

-1.17%

+1.17%

Max Drawdown (3Y)

Largest decline over 3 years

0.00%

-1.17%

+1.17%

Max Drawdown (5Y)

Largest decline over 5 years

0.00%

-6.36%

+6.36%

Max Drawdown (10Y)

Largest decline over 10 years

0.00%

-6.51%

+6.51%

Current Drawdown

Current decline from peak

0.00%

-0.19%

+0.19%

Average Drawdown

Average peak-to-trough decline

0.00%

-1.04%

+1.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.00%

0.31%

-0.31%

Volatility

USD=X vs. FSHBX - Volatility Comparison

The current volatility for USD Cash (USD=X) is 0.00%, while Fidelity Short-Term Bond Fund (FSHBX) has a volatility of 0.63%. This indicates that USD=X experiences smaller price fluctuations and is considered to be less risky than FSHBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

USD=XFSHBXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.00%

0.63%

-0.63%

Volatility (6M)

Calculated over the trailing 6-month period

0.00%

1.44%

-1.44%

Volatility (1Y)

Calculated over the trailing 1-year period

0.00%

1.95%

-1.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.00%

2.22%

-2.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.00%

1.86%

-1.86%

Frequently Asked Questions

FSHBX has higher volatility (0.63%) compared to USD=X (0.00%). In terms of maximum drawdown, USD=X dropped 0.00% vs FSHBX's -8.80%.

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