ACP vs. FBAPX
ACP (abrdn Income Credit Strategies Fund) and FBAPX (Fidelity Tactical Bond Fund) are both Multisector Bonds funds. Over the past 3 years, ACP returned 8.30%/yr vs 4.60%/yr for FBAPX. At a 0.26 correlation, their price movements are largely independent. ACP charges 1.97%/yr vs 0.66%/yr for FBAPX.
Performance
ACP vs. FBAPX - Performance Comparison
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Returns By Period
In the year-to-date period, ACP achieves a 4.02% return, which is significantly higher than FBAPX's 1.09% return.
ACP
- 1D
- -0.57%
- 1M
- -0.95%
- YTD
- 4.02%
- 6M
- 5.14%
- 1Y
- 5.49%
- 3Y*
- 8.30%
- 5Y*
- 0.20%
- 10Y*
- 5.92%
FBAPX
- 1D
- 0.23%
- 1M
- 1.08%
- YTD
- 1.09%
- 6M
- 1.45%
- 1Y
- 5.62%
- 3Y*
- 4.60%
- 5Y*
- —
- 10Y*
- —
ACP vs. FBAPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ACP abrdn Income Credit Strategies Fund | 4.02% | 6.48% | 4.81% | 19.27% | -24.43% |
FBAPX Fidelity Tactical Bond Fund | 1.09% | 7.77% | 1.57% | 6.73% | -9.94% |
Correlation
The correlation between ACP and FBAPX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2022 | 0.26 |
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Return for Risk
ACP vs. FBAPX — Risk / Return Rank
ACP
FBAPX
ACP vs. FBAPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Income Credit Strategies Fund (ACP) and Fidelity Tactical Bond Fund (FBAPX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ACP | FBAPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.26 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.53 | 2.04 | -1.52 |
| Martin ratioReturn relative to average drawdown | 1.48 | 5.90 | -4.42 |
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Drawdowns
ACP vs. FBAPX - Drawdown Comparison
The maximum ACP drawdown since its inception was -51.03%, which is greater than FBAPX's maximum drawdown of -14.34%. Use the drawdown chart below to compare losses from any high point for ACP and FBAPX.
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Drawdown Indicators
| ACP | FBAPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.03% | -14.34% | -36.69% |
Max Drawdown (1Y)Largest decline over 1 year | -10.51% | -2.77% | -7.74% |
Max Drawdown (3Y)Largest decline over 3 years | -18.97% | -6.04% | -12.93% |
Max Drawdown (5Y)Largest decline over 5 years | -38.83% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -51.03% | — | — |
Current DrawdownCurrent decline from peak | -6.65% | -0.90% | -5.75% |
Average DrawdownAverage peak-to-trough decline | -11.10% | -4.92% | -6.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.71% | 0.96% | +2.75% |
Volatility
ACP vs. FBAPX - Volatility Comparison
abrdn Income Credit Strategies Fund (ACP) has a higher volatility of 3.80% compared to Fidelity Tactical Bond Fund (FBAPX) at 1.15%. This indicates that ACP's price experiences larger fluctuations and is considered to be riskier than FBAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ACP | FBAPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.80% | 1.15% | +2.65% |
Volatility (6M)Calculated over the trailing 6-month period | 9.55% | 2.85% | +6.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.65% | 3.90% | +7.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.96% | 5.66% | +11.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.09% | 5.66% | +15.43% |
ACP vs. FBAPX - Expense Ratio Comparison
ACP has a 1.97% expense ratio, which is higher than FBAPX's 0.66% expense ratio.
Dividends
ACP vs. FBAPX - Dividend Comparison
ACP's dividend yield for the trailing twelve months is around 17.75%, more than FBAPX's 4.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACP abrdn Income Credit Strategies Fund | 17.75% | 17.19% | 19.72% | 17.65% | 17.70% | 11.76% | 12.73% | 12.27% | 12.60% | 10.26% | 10.72% | 12.69% |
FBAPX Fidelity Tactical Bond Fund | 4.70% | 4.61% | 4.81% | 4.08% | 3.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ACP and FBAPX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ACP has higher volatility (3.80%) compared to FBAPX (1.15%). In terms of maximum drawdown, ACP dropped -51.03% vs FBAPX's -14.34%.
FBAPX currently has the higher Sharpe Ratio (1.45 vs 0.47), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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