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Fidelity Strategic Income Fund (FADMX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 24, 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

9 mutual funds have low correlation with FADMX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA Two-Year Fixed Income Portfolio (DFCFX) (Short-Term Bond) with a 1Y correlation of 0.01, down from 0.28 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
DFCFX
DFA Two-Year Fixed Income Portfolio0.010.040.28
65
Short-Term BondFADMX vs DFCFX
NWXHX
Nationwide Amundi Strategic Income Fund0.140.270.18
99
Multisector BondsFADMX vs NWXHX
JSOSX
JPMorgan Strategic Income Opportunities Fund Class...0.17-0.21-0.26
99
Total Bond MarketFADMX vs JSOSX
LCCMX
Leader Short Term High Yield Bond Fund0.230.210.36
80
Short-Term BondFADMX vs LCCMX
TRBUX
T. Rowe Price Ultra Short-Term Bond Fund0.250.270.31
99
Ultrashort BondFADMX vs TRBUX
See all 75 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 0.42, roughly unchanged from 0.42 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
AGNC
AGNC Investment Corp.0.420.480.42
77
Real Estate

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Diversification Analysis

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