Fidelity SAI U.S. Treasury Bond Index Fund
U.S. bond index fund · tracks Bloomberg U.S. Treasury Index
As of its 2026 Q2 report, Fidelity SAI U.S. Treasury Bond Index Fund held 224 positions with $8.79B in net assets. Its ten largest holdings made up 15.7% of the fund. The FUTBX share class costs 0.03% a year. Over the 12 months to May 2026, FUTBX returned 3.7%, with dividends reinvested. In 2026 Q2 it added 23 new positions and exited 12.
Fidelity SAI U.S. Treasury Bond Index Fund seeks to provide investment results that correspond to the total return of U.S. treasury bonds.
The fund tracks the Bloomberg U.S. Treasury Index, a market value-weighted index of U.S. Treasury securities with maturities of one year or more, using statistical sampling techniques to replicate index returns with a smaller number of securities rather than holding all constituents. Because the fund samples the index based on duration, maturity, interest rate sensitivity, and security structure, its returns may diverge from the index.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
UST NOTES 1.25% · due 2031-08-15 | 2.04% | $179.27M | — |
UST NOTES 2.38% · due 2029-05-15 | 1.77% | $155.27M | — |
UST NOTES 4.00% · due 2031-01-31 | 1.68% | $147.72M | — |
UNITED STATES TREASURY BOND 6.13% · due 2027-11-15 | 1.64% | $143.89M | — |
UST NOTES 3.63% · due 2030-10-31 | 1.57% | $137.88M | — |
UST NOTES 0.63% · due 2030-05-15 | 1.54% | $135.15M | — |
UNITED STATES TREASURY BOND 6.25% · due 2030-05-15 | 1.43% | $125.42M | — |
UST NOTES 1.13% · due 2028-08-31 | 1.38% | $121.03M | — |
UST NOTES 2.88% · due 2032-05-15 | 1.34% | $117.78M | — |
UST NOTES 0.75% · due 2028-01-31 | 1.32% | $116.17M | — |
The 200 largest of 224 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 98.94% |
| Cash & short-term | 0.63% |
How it has done
FUTBX share class · total returns with dividends reinvested
Volatility over the last 12 months: 3.30%. Past returns are a record, not a forecast.
Fees & fund details
Fidelity SAI U.S. Treasury Bond Index Fund is a U.S. bond index fund that tracks the Bloomberg U.S. Treasury Index.
- Asset class
- Bonds
- Region
- United States
- Management
- Index (passive)
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
- Expense ratio, by class
- 0.03%· FUTBX 0.03%
- Portfolio turnover
- 26.00% a year · as of 2026 Q2
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
23 new· the largest 1
12 exited· the largest 2
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.1% |
| 1-3y | 37.0% |
| 3-5y | 21.1% |
| 5-10y | 21.4% |
| 10y+ | 20.4% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 50% |
| Interest rates | 50% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +5.77 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 1 yr | 0.63 yr | 11% |
| 5 yr | 1.48 yr | 26% |
| 10 yr | 1.62 yr | 28% |
| 30 yr | 1.99 yr | 35% |
3 mo is NEGATIVE (-0.00 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.76 yr | 13% |
| 5 yr | 1.75 yr | 30% |
| 10 yr | 1.91 yr | 33% |
| 30 yr | 1.34 yr | 23% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | -0.00 | +0.01 | +0.00 | $6.1k | $0 |
| 1 yr | +0.63 | +0.76 | +0.00 | $667.5k | $0 |
| 5 yr | +1.48 | +1.75 | +0.00 | $1.54m | $0 |
| 10 yr | +1.62 | +1.91 | +0.00 | $1.68m | $0 |
| 30 yr | +1.99 | +1.34 | +0.00 | $1.18m | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Understand how this fund fits with the rest.
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