BDHIX vs. FCSRX

Last updated Aug 1, 2026

BDHIX (BlackRock Dynamic High Income Portfolio) and FCSRX (Fidelity Advisor Strategic Real Return Fund Class C) are both Diversified Portfolio funds. Over the past 10 years, BDHIX returned 6.36%/yr vs 4.42%/yr for FCSRX. Their 0.59 correlation means they have sometimes moved together and sometimes differently. BDHIX charges 0.65%/yr vs 1.70%/yr for FCSRX.

Performance

BDHIX vs. FCSRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Dynamic High Income Portfolio (BDHIX) and Fidelity Advisor Strategic Real Return Fund Class C (FCSRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BDHIX achieves a 4.88% return, which is significantly lower than FCSRX's 6.55% return. Over the past 10 years, BDHIX has outperformed FCSRX with an annualized return of 6.36%, while FCSRX has yielded a comparatively lower 4.42% annualized return.

BDHIX

• 1D: 1.01%
• 1M: -0.11%
• 6M: 3.11%
• YTD: 4.88%
• 1Y: 11.22%
• 3Y*: 10.90%
• 5Y*: 4.42%
• 10Y*: 6.36%
• ALL TIME*: 5.79%

FCSRX

• 1D: 0.00%
• 1M: 0.77%
• 6M: 2.98%
• YTD: 6.55%
• 1Y: 12.24%
• 3Y*: 7.14%
• 5Y*: 4.52%
• 10Y*: 4.42%
• ALL TIME*: 2.96%

*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)
BDHIX BlackRock Dynamic High Income Portfolio	$0.00	$0.00	$0.00
FCSRX Fidelity Advisor Strategic Real Return Fund Class C	$0.00	$0.00	$0.00

BDHIX vs. FCSRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BDHIX BlackRock Dynamic High Income Portfolio	4.88%	12.27%	10.76%	13.87%	-18.20%	10.44%	4.52%	20.05%	-6.91%	14.53%
FCSRX Fidelity Advisor Strategic Real Return Fund Class C	6.55%	9.27%	4.75%	3.60%	-4.26%	14.68%	2.60%	9.54%	-5.03%	3.02%

Correlation

The correlation between BDHIX and FCSRX is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.33
Correlation (3Y) Balances recent behavior with more history.	0.53
Correlation (5Y) Shows whether the relationship held over a longer period.	0.61
Correlation (10Y) Provides a long-term view across more market conditions.	0.59
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.59

Over the past year, the correlation between BDHIX and FCSRX has dropped to 0.33 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.

Return for Risk

BDHIX vs. FCSRX — Risk / Return Rank

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

BDHIX

BDHIX Risk / Return Rank: 59
BDHIX Sharpe Ratio Rank: 60
BDHIX Sortino Ratio Rank: 63
BDHIX Omega Ratio Rank: 64
BDHIX Calmar Ratio Rank: 47
BDHIX Martin Ratio Rank: 62

FCSRX

FCSRX Risk / Return Rank: 89
FCSRX Sharpe Ratio Rank: 93
FCSRX Sortino Ratio Rank: 89
FCSRX Omega Ratio Rank: 89
FCSRX Calmar Ratio Rank: 90
FCSRX 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.

BDHIX vs. FCSRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Dynamic High Income Portfolio (BDHIX) and Fidelity Advisor Strategic Real Return Fund Class C (FCSRX). 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.

	BDHIX	FCSRX	Difference
Sharpe ratio: Return per unit of total volatility	1.45	2.44	-0.99
Sortino ratio: Return per unit of downside risk	2.16	3.32	-1.17
Omega ratio: Gain probability vs. loss probability	1.28	1.47	-0.19
Calmar ratio: Return relative to maximum drawdown	1.78	3.36	-1.58
Martin ratio: Return relative to average drawdown	7.83	10.54	-2.70

BDHIX vs. FCSRX - Sharpe Ratio Comparison

The current BDHIX Sharpe Ratio is 1.45, which is lower than the FCSRX Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of BDHIX and FCSRX, 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

BDHIX vs. FCSRX - Drawdown Comparison

The maximum BDHIX drawdown since its inception was -29.13%, smaller than the maximum FCSRX drawdown of -33.91%. Use the drawdown chart below to compare losses from any high point for BDHIX and FCSRX.

Drawdown Indicators

	BDHIX	FCSRX	Difference
Max Drawdown Largest peak-to-trough decline	-29.13%	-33.91%	+4.78%
Max Drawdown (1Y) Largest decline over 1 year	-6.15%	-3.50%	-2.65%
Max Drawdown (3Y) Largest decline over 3 years	-9.43%	-5.85%	-3.58%
Max Drawdown (5Y) Largest decline over 5 years	-23.55%	-13.22%	-10.33%
Max Drawdown (10Y) Largest decline over 10 years	-29.13%	-20.02%	-9.11%
Current Drawdown Current decline from peak	-0.66%	-2.33%	+1.67%
Average Drawdown Average peak-to-trough decline	-4.72%	-5.07%	+0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.39%	1.11%	+0.28%

Volatility

BDHIX vs. FCSRX - Volatility Comparison

BlackRock Dynamic High Income Portfolio (BDHIX) has a higher volatility of 2.03% compared to Fidelity Advisor Strategic Real Return Fund Class C (FCSRX) at 1.62%. This indicates that BDHIX's price experiences larger fluctuations and is considered to be riskier than FCSRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BDHIX	FCSRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.03%	1.62%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	6.42%	3.78%	+2.64%
Volatility (1Y) Calculated over the trailing 1-year period	7.52%	4.88%	+2.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.00%	6.90%	+2.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.16%	6.71%	+2.45%

BDHIX vs. FCSRX - Expense Ratio Comparison

BDHIX has a 0.65% expense ratio, which is lower than FCSRX's 1.70% expense ratio.

Dividends

BDHIX vs. FCSRX - Dividend Comparison

BDHIX's dividend yield for the trailing twelve months is around 7.41%, more than FCSRX's 2.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BDHIX BlackRock Dynamic High Income Portfolio	7.41%	7.54%	7.62%	5.96%	5.17%	6.58%	5.20%	5.68%	7.40%	6.14%	6.33%	7.19%
FCSRX Fidelity Advisor Strategic Real Return Fund Class C	2.54%	3.74%	3.86%	4.35%	6.51%	4.53%	1.32%	2.20%	8.51%	1.58%	1.34%	0.66%

Frequently Asked Questions

Can I hold both BDHIX and FCSRX in my portfolio?

BDHIX and FCSRX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BDHIX or FCSRX?

BDHIX has higher volatility (2.03%) compared to FCSRX (1.62%). In terms of maximum drawdown, BDHIX dropped -29.13% vs FCSRX's -33.91%.

Which has better risk-adjusted returns?

FCSRX currently has the higher Sharpe Ratio (2.44 vs 1.45), 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.