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Fidelity Strategic Income Fund (FADMX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jul 15, 2026

The investment seeks a high level of current income; it may also seek capital appreciation. The fund invests primarily in debt securities, including lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities or junk bonds). It allocates the fund's assets among four general investment categories: high yield securities, U.S. government and investment-grade securities, emerging market securities, and foreign developed market securities.

Looking to diversify beyond FADMX? The mutual funds below have the lowest correlation with FADMX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from FADMX.

Best Diversifiers for FADMX

14 mutual funds have low correlation with FADMX (below 0.3), 2 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.18, down from 0.11 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
FSENX
Fidelity Select Energy Portfolio-0.180.070.11
70
Energy EquitiesFADMX vs FSENX
BRCAX
Invesco Balanced-Risk Commodity Strategy Fund Clas...-0.14-0.040.05
68
CommoditiesFADMX vs BRCAX
DFCFX
DFA Two-Year Fixed Income Portfolio0.030.040.27
100
Short-Term BondFADMX vs DFCFX
NWXEX
Nationwide Strategic Income A0.120.240.17
99
Multisector BondsFADMX vs NWXEX
NWXHX
Nationwide Amundi Strategic Income Fund0.150.270.18
99
Multisector BondsFADMX vs NWXHX
See all 88 diversifiers for FADMX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from FADMX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FADMX and solid risk/return profiles. The least correlated is AGNC Investment Corp. (AGNC) (Real Estate) with a 1Y correlation of 0.41, roughly unchanged from 0.42 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
AGNC
AGNC Investment Corp.0.410.470.42
85
Real Estate

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