Fund Evaluator:

Fidelity Srs 0-5 Yr Inf-Ptctd Bd Idx Overview

Fidelity Srs 0-5 Yr Inf-Ptctd Bd Idx (FSTZX) is a passively managed Taxable Bond Short-Term Inflation-Protected Bond fund. Fidelity Investments launched the fund in 2021.

The investment seeks to provide investment results that correspond to the total return of the inflation-protected sector of the United States Treasury market. The fund normally invests at least 80% of assets in inflation-protected debt securities included in the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index. The index is a market value-weighted index that measures the performance of inflation-protected securities issued by the U.S. Treasury that have a remaining average life of less than 5 years.

About Fidelity Srs 0-5 Yr Inf-Ptctd Bd Idx (FSTZX)

There are 3 members of the management team with an average tenure of 2.54 years: Brandon Bettencourt (2021), Mark Lande (2024), Van Eswara (2025). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US TIPS 0-5 Year TR USD index with a weighting of 100%. Fidelity Srs 0-5 Yr Inf-Ptctd Bd Idx has 27 securities in its portfolio. The top 10 holdings constitute 52.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Fidelity Srs 0-5 Yr Inf-Ptctd Bd Idx is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Fidelity Srs 0-5 Yr Inf-Ptctd Bd Idx has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 95.0% (95.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Fidelity Srs 0-5 Yr Inf-Ptctd Bd Idx has 5.1% of the portfolio in cash.

Assets Under Management

The fund has $11 billion in total assets, which is above the $1 billion average for the Short-Term Inflation-Protected Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

FSTZX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Fidelity Srs 0-5 Yr Inf-Ptctd Bd Idx expense ratio is low compared to funds in the Short-Term Inflation-Protected Bond category. Fidelity Srs 0-5 Yr Inf-Ptctd Bd Idx has an expense ratio of 0.00%, which is 100% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Fidelity Srs 0-5 Yr Inf-Ptctd Bd Idx has a portfolio turnover rate of 38%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 63% for the Short-Term Inflation-Protected Bond category.

Recently, in the month of July 2026, Fidelity Srs 0-5 Yr Inf-Ptctd Bd Idx returned 0.2%, which earned it a grade of C, as the Short-Term Inflation-Protected Bond category had an average return of 0.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Fidelity Srs 0-5 Yr Inf-Ptctd Bd Idx has a trailing yield of 4.05%, which is below the 4.56% category average. The fund normally distributes its income monthly.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Fidelity Srs 0-5 Yr Inf-Ptctd Bd Idx Grades

Year to date, the fund has returned 1.9%, 0.4 percentage points better than the category, which translates into a grade of A. The fund has returned 3.5% over the past year (grade of A) and 5.1% over the past three years (grade of A).

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