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Fidelity Mortgage Securities Fund (FMSFX) Sharpe Ratio: 1.71

Mutual Fund · Currency in USD · Last updated Jun 3, 2026

The fund normally invests at least 80% of assets in investment-grade mortgage-related securities (those of medium and high quality) and repurchase agreements for those securities. It invests in U.S. government securities and instruments related to U.S. government securities. The fund invests in U.S. government securities issued by entities that are chartered or sponsored by Congress but whose securities are neither issued nor guaranteed by the U.S. Treasury.

FMSFX's Sharpe Ratio of 1.71 indicates that for each unit of volatility, it generates 1.71 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 3, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets.

FMSFX Sharpe Ratio Rank

FMSFX Sharpe Ratio Rank: 34.134
Below Average

FMSFX ranks above 34.1% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating below-average returns relative to volatility. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Returns may not adequately compensate for volatility taken
  • Consider smaller allocation given below-average risk-adjusted profile
  • Explore higher-ranked investments with better consistency
  • Assess whether the volatility profile aligns with your portfolio goals

FMSFX Sharpe Ratio Market Positioning

The chart shows FMSFX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 1.42 or lower
  • Yellow zone (middle 50%): 1.42 to 2.51
  • Green zone (top 25%): 2.51 or higher
  • Top 1%: 4.64+
  • Median: 2.09 — half of all investments score higher

How it compares to other similar mutual funds

The table compares Fidelity Mortgage Securities Fund's Sharpe Ratio with other mutual funds in the Total Bond Market category across multiple time periods, showing how FMSFX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 3, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
VUSFXVanguard Ultra-Short-Term Bond Fund Admiral Shares7.77
VUBFXVanguard Ultra-Short-Term Bond Fund Investor Shares5.71
JSOSXJPMorgan Strategic Income Opportunities Fund Class I5.15
FCNVXFidelity Conservative Income Bond Institutional Class3.49
FJTDXFidelity Flex Conservative Income Bond Fund3.45
FIWDXFidelity Advisor Strategic Income Fund Class Z2.88
FADMXFidelity Strategic Income Fund2.85
FSRIXFidelity Advisor Strategic Income Fund Class I2.77
FSIAXFidelity Advisor Strategic Income Fund Class M2.75
FSTAXFidelity Advisor Strategic Income Fund Class A2.73
FMSFXFidelity Mortgage Securities Fund1.71

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows FMSFX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when FMSFX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

How does FMSFX fit in your portfolio?

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