USSBX vs. FSHBX
USSBX (USAA Short Term Bond Fund) and FSHBX (Fidelity Short-Term Bond Fund) are both Short-Term Bond funds. Over the past 10 years, USSBX returned 3.02%/yr vs 2.07%/yr for FSHBX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. USSBX charges 0.54%/yr vs 0.30%/yr for FSHBX.
Performance
USSBX vs. FSHBX - Performance Comparison
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Returns By Period
In the year-to-date period, USSBX achieves a 1.16% return, which is significantly higher than FSHBX's 0.53% return. Over the past 10 years, USSBX has outperformed FSHBX with an annualized return of 3.02%, while FSHBX has yielded a comparatively lower 2.07% annualized return.
USSBX
- 1D
- 0.00%
- 1M
- -0.22%
- 6M
- 0.77%
- YTD
- 1.16%
- 1Y
- 3.22%
- 3Y*
- 5.54%
- 5Y*
- 3.13%
- 10Y*
- 3.02%
- ALL TIME*
- 3.75%
FSHBX
- 1D
- -0.12%
- 1M
- -0.24%
- 6M
- 0.31%
- YTD
- 0.53%
- 1Y
- 2.49%
- 3Y*
- 4.63%
- 5Y*
- 2.20%
- 10Y*
- 2.07%
- ALL TIME*
- 3.19%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
USSBX vs. FSHBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USSBX USAA Short Term Bond Fund | 1.16% | 5.79% | 6.21% | 5.99% | -2.95% | 1.08% | 4.75% | 5.00% | 1.24% | 2.30% |
FSHBX Fidelity Short-Term Bond Fund | 0.53% | 5.49% | 4.73% | 5.35% | -3.86% | -0.92% | 3.59% | 4.20% | 1.21% | 1.16% |
Correlation
The correlation between USSBX and FSHBX is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.74 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.66 |
Correlation (All Time) Calculated using the full available price history since May 28, 1993 | 0.64 |
The correlation between USSBX and FSHBX shifts across timeframes, from 0.64 (all time) to 0.74 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
USSBX vs. FSHBX — Risk / Return Rank
USSBX
FSHBX
USSBX vs. FSHBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USAA Short Term Bond Fund (USSBX) 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.
| USSBX | FSHBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.36 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.28 | 2.45 | +0.83 |
| Martin ratioReturn relative to average drawdown | 13.20 | 9.02 | +4.17 |
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Drawdowns
USSBX vs. FSHBX - Drawdown Comparison
The maximum USSBX drawdown since its inception was -6.87%, smaller than the maximum FSHBX drawdown of -8.80%. Use the drawdown chart below to compare losses from any high point for USSBX and FSHBX.
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Drawdown Indicators
| USSBX | FSHBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.87% | -8.80% | +1.93% |
Max Drawdown (1Y)Largest decline over 1 year | -1.09% | -1.17% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -1.09% | -1.17% | +0.08% |
Max Drawdown (5Y)Largest decline over 5 years | -5.11% | -6.30% | +1.19% |
Max Drawdown (10Y)Largest decline over 10 years | -5.57% | -6.51% | +0.94% |
Current DrawdownCurrent decline from peak | -0.33% | -0.36% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -0.63% | -1.04% | +0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.27% | 0.32% | -0.05% |
Volatility
USSBX vs. FSHBX - Volatility Comparison
The current volatility for USAA Short Term Bond Fund (USSBX) is 0.39%, while Fidelity Short-Term Bond Fund (FSHBX) has a volatility of 0.45%. This indicates that USSBX 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
| USSBX | FSHBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.39% | 0.45% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 1.38% | 1.45% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.80% | 1.92% | -0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 2.23% | -0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.79% | 1.86% | -0.07% |
USSBX vs. FSHBX - Expense Ratio Comparison
USSBX has a 0.54% expense ratio, which is higher than FSHBX's 0.30% expense ratio.
Dividends
USSBX vs. FSHBX - Dividend Comparison
USSBX's dividend yield for the trailing twelve months is around 4.18%, more than FSHBX's 3.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSHBX Fidelity Short-Term Bond Fund | 3.80% | 4.26% | 4.00% | 3.00% | 0.83% | 1.04% | 2.62% | 2.13% | 1.78% | 1.27% | 1.12% | 0.88% |
USSBX USAA Short Term Bond Fund | 4.18% | 4.51% | 4.32% | 3.37% | 2.38% | 2.72% | 3.41% | 2.79% | 2.44% | 1.94% | 1.86% | 1.69% |
Frequently Asked Questions
USSBX and FSHBX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSHBX has higher volatility (0.45%) compared to USSBX (0.39%). In terms of maximum drawdown, USSBX dropped -6.87% vs FSHBX's -8.80%.
USSBX currently has the higher Sharpe Ratio (2.02 vs 1.52), 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.
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