BCGIX vs. FIQTX

Last updated Aug 1, 2026

BCGIX (BrandywineGLOBAL Corporate Credit Fund Class I) and FIQTX (Fidelity Advisor High Income Advantage Fund Class Z) are both High Yield Bonds funds. Over the past 3 years, BCGIX returned 6.58%/yr vs 10.64%/yr for FIQTX. Their 0.71 correlation means they have sometimes moved together and sometimes differently. BCGIX charges 0.60%/yr vs 0.64%/yr for FIQTX.

Performance

BCGIX vs. FIQTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BrandywineGLOBAL Corporate Credit Fund Class I (BCGIX) and Fidelity Advisor High Income Advantage Fund Class Z (FIQTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCGIX achieves a -0.08% return, which is significantly lower than FIQTX's 4.93% return.

BCGIX

• 1D: 0.00%
• 1M: -0.78%
• 6M: -0.11%
• YTD: -0.08%
• 1Y: 2.82%
• 3Y*: 6.58%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.38%

FIQTX

• 1D: 0.92%
• 1M: -1.55%
• 6M: 3.35%
• YTD: 4.93%
• 1Y: 10.13%
• 3Y*: 10.64%
• 5Y*: 5.89%
• 10Y*: —
• ALL TIME*: 7.27%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BCGIX BrandywineGLOBAL Corporate Credit Fund Class I	$0.00	$0.00	$0.00
FIQTX Fidelity Advisor High Income Advantage Fund Class Z	$0.00	$0.00	$0.00

BCGIX vs. FIQTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BCGIX BrandywineGLOBAL Corporate Credit Fund Class I	-0.08%	5.51%	9.19%	11.72%	-9.32%	1.21%
FIQTX Fidelity Advisor High Income Advantage Fund Class Z	4.93%	12.17%	10.38%	12.37%	-11.16%	2.66%

Correlation

The correlation between BCGIX and FIQTX is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.57
Correlation (3Y) Balances recent behavior with more history.	0.63
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021	0.71

The correlation between BCGIX and FIQTX shifts across timeframes, from 0.57 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BCGIX vs. FIQTX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BCGIX

BCGIX Risk / Return Rank: 41
BCGIX Sharpe Ratio Rank: 36
BCGIX Sortino Ratio Rank: 51
BCGIX Omega Ratio Rank: 48
BCGIX Calmar Ratio Rank: 29
BCGIX Martin Ratio Rank: 39

FIQTX

FIQTX Risk / Return Rank: 73
FIQTX Sharpe Ratio Rank: 68
FIQTX Sortino Ratio Rank: 66
FIQTX Omega Ratio Rank: 65
FIQTX Calmar Ratio Rank: 82
FIQTX Martin Ratio Rank: 84

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BCGIX vs. FIQTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BrandywineGLOBAL Corporate Credit Fund Class I (BCGIX) and Fidelity Advisor High Income Advantage Fund Class Z (FIQTX). 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.

	BCGIX	FIQTX	Difference
Sharpe ratio: Return per unit of total volatility	1.14	1.56	-0.41
Sortino ratio: Return per unit of downside risk	1.97	2.22	-0.24
Omega ratio: Gain probability vs. loss probability	1.25	1.28	-0.04
Calmar ratio: Return relative to maximum drawdown	1.33	2.67	-1.35
Martin ratio: Return relative to average drawdown	5.67	10.37	-4.70

BCGIX vs. FIQTX - Sharpe Ratio Comparison

The current BCGIX Sharpe Ratio is 1.14, which is comparable to the FIQTX Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of BCGIX and FIQTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BCGIX vs. FIQTX - Drawdown Comparison

The maximum BCGIX drawdown since its inception was -13.16%, smaller than the maximum FIQTX drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for BCGIX and FIQTX.

Drawdown Indicators

	BCGIX	FIQTX	Difference
Max Drawdown Largest peak-to-trough decline	-13.16%	-28.49%	+15.33%
Max Drawdown (1Y) Largest decline over 1 year	-2.49%	-3.71%	+1.22%
Max Drawdown (3Y) Largest decline over 3 years	-3.71%	-6.96%	+3.25%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.16%	—
Current Drawdown Current decline from peak	-0.78%	-2.83%	+2.05%
Average Drawdown Average peak-to-trough decline	-2.85%	-3.26%	+0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	0.95%	-0.37%

Volatility

BCGIX vs. FIQTX - Volatility Comparison

The current volatility for BrandywineGLOBAL Corporate Credit Fund Class I (BCGIX) is 0.52%, while Fidelity Advisor High Income Advantage Fund Class Z (FIQTX) has a volatility of 2.00%. This indicates that BCGIX experiences smaller price fluctuations and is considered to be less risky than FIQTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCGIX	FIQTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.52%	2.00%	-1.48%
Volatility (6M) Calculated over the trailing 6-month period	2.24%	5.36%	-3.12%
Volatility (1Y) Calculated over the trailing 1-year period	2.89%	6.37%	-3.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.02%	6.55%	-2.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.02%	8.37%	-4.35%

BCGIX vs. FIQTX - Expense Ratio Comparison

BCGIX has a 0.60% expense ratio, which is lower than FIQTX's 0.64% expense ratio.

Dividends

BCGIX vs. FIQTX - Dividend Comparison

BCGIX's dividend yield for the trailing twelve months is around 5.29%, more than FIQTX's 4.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BCGIX BrandywineGLOBAL Corporate Credit Fund Class I	5.29%	6.50%	7.11%	4.87%	5.21%	4.00%	0.00%	0.00%	0.00%
FIQTX Fidelity Advisor High Income Advantage Fund Class Z	4.22%	4.83%	5.06%	4.79%	7.43%	5.01%	3.80%	4.61%	2.54%

Frequently Asked Questions

Can I hold both BCGIX and FIQTX in my portfolio?

BCGIX and FIQTX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BCGIX or FIQTX?

FIQTX has higher volatility (2.00%) compared to BCGIX (0.52%). In terms of maximum drawdown, BCGIX dropped -13.16% vs FIQTX's -28.49%.

Which has better risk-adjusted returns?

FIQTX currently has the higher Sharpe Ratio (1.56 vs 1.14), 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.