FADMX vs. DFCFX

Last updated Aug 4, 2026

FADMX (Fidelity Strategic Income Fund) and DFCFX (DFA Two-Year Fixed Income Portfolio) are both mutual funds - FADMX is a Multisector Bonds fund managed by Fidelity, while DFCFX is a Short-Term Bond fund managed by Dimensional. Over the past 5 years, FADMX returned 2.69%/yr vs 3.87%/yr for DFCFX. Their 0.20 correlation means their historical movements had little consistent relationship. FADMX charges 0.64%/yr vs 0.21%/yr for DFCFX.

Performance

FADMX vs. DFCFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Strategic Income Fund (FADMX) and DFA Two-Year Fixed Income Portfolio (DFCFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FADMX having a 1.84% return and DFCFX slightly higher at 1.92%.

FADMX

• 1D: 0.08%
• 1M: -1.15%
• 6M: 1.18%
• YTD: 1.84%
• 1Y: 5.59%
• 3Y*: 7.26%
• 5Y*: 2.69%
• 10Y*: —
• ALL TIME*: 3.85%

DFCFX

• 1D: -0.10%
• 1M: 0.10%
• 6M: 1.50%
• YTD: 1.92%
• 1Y: 3.71%
• 3Y*: 3.94%
• 5Y*: 3.87%
• 10Y*: 2.51%
• ALL TIME*: 2.77%

*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)
DFCFX DFA Two-Year Fixed Income Portfolio	$0.00	$0.00	$0.00
FADMX Fidelity Strategic Income Fund	$0.00	$0.00	$0.00

FADMX vs. DFCFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FADMX Fidelity Strategic Income Fund	1.84%	9.01%	6.02%	9.55%	-11.84%	3.46%	6.72%	11.06%	-2.02%
DFCFX DFA Two-Year Fixed Income Portfolio	1.92%	2.28%	5.33%	4.92%	-3.28%	8.60%	0.57%	2.65%	1.77%

Correlation

The correlation between FADMX and DFCFX is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.07
Correlation (3Y) Balances recent behavior with more history.	0.04
Correlation (5Y) Shows whether the relationship held over a longer period.	0.27
Correlation (All Time) Calculated using the full available price history since Apr 30, 2018	0.20

The correlation between FADMX and DFCFX shifts across timeframes, from 0.04 (3 years) to 0.27 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FADMX vs. DFCFX — Risk / Return Rank

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

FADMX

FADMX Risk / Return Rank: 58
FADMX Sharpe Ratio Rank: 56
FADMX Sortino Ratio Rank: 58
FADMX Omega Ratio Rank: 60
FADMX Calmar Ratio Rank: 59
FADMX Martin Ratio Rank: 59

DFCFX

DFCFX Risk / Return Rank: 100
DFCFX Sharpe Ratio Rank: 100
DFCFX Sortino Ratio Rank: 100
DFCFX Omega Ratio Rank: 100
DFCFX Calmar Ratio Rank: 100
DFCFX Martin Ratio Rank: 100

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.

FADMX vs. DFCFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Strategic Income Fund (FADMX) and DFA Two-Year Fixed Income Portfolio (DFCFX). 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.

	FADMX	DFCFX	Difference
Sharpe ratio: Return per unit of total volatility	1.52	5.17	-3.65
Sortino ratio: Return per unit of downside risk	2.22	11.04	-8.82
Omega ratio: Gain probability vs. loss probability	1.29	5.05	-3.76
Calmar ratio: Return relative to maximum drawdown	2.18	18.12	-15.94
Martin ratio: Return relative to average drawdown	8.24	108.51	-100.27

FADMX vs. DFCFX - Sharpe Ratio Comparison

The current FADMX Sharpe Ratio is 1.52, which is lower than the DFCFX Sharpe Ratio of 5.17. The chart below compares the historical Sharpe Ratios of FADMX and DFCFX, 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

FADMX vs. DFCFX - Drawdown Comparison

The maximum FADMX drawdown since its inception was -15.98%, which is greater than DFCFX's maximum drawdown of -4.27%. Use the drawdown chart below to compare losses from any high point for FADMX and DFCFX.

Drawdown Indicators

	FADMX	DFCFX	Difference
Max Drawdown Largest peak-to-trough decline	-15.98%	-4.27%	-11.71%
Max Drawdown (1Y) Largest decline over 1 year	-2.62%	-0.21%	-2.41%
Max Drawdown (3Y) Largest decline over 3 years	-3.63%	-1.33%	-2.30%
Max Drawdown (5Y) Largest decline over 5 years	-15.98%	-4.27%	-11.71%
Max Drawdown (10Y) Largest decline over 10 years	—	-4.27%	—
Current Drawdown Current decline from peak	-1.63%	-0.10%	-1.53%
Average Drawdown Average peak-to-trough decline	-3.02%	-0.26%	-2.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.69%	0.03%	+0.66%

Volatility

FADMX vs. DFCFX - Volatility Comparison

Fidelity Strategic Income Fund (FADMX) has a higher volatility of 0.96% compared to DFA Two-Year Fixed Income Portfolio (DFCFX) at 0.33%. This indicates that FADMX's price experiences larger fluctuations and is considered to be riskier than DFCFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FADMX	DFCFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	0.33%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	3.23%	0.58%	+2.65%
Volatility (1Y) Calculated over the trailing 1-year period	3.76%	0.73%	+3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.57%	4.39%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.76%	3.13%	+1.63%

FADMX vs. DFCFX - Expense Ratio Comparison

FADMX has a 0.64% expense ratio, which is higher than DFCFX's 0.21% expense ratio.

Dividends

FADMX vs. DFCFX - Dividend Comparison

FADMX's dividend yield for the trailing twelve months is around 4.03%, more than DFCFX's 3.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFCFX DFA Two-Year Fixed Income Portfolio	3.86%	2.16%	4.90%	3.43%	1.32%	8.29%	0.67%	2.22%	1.87%	1.22%	0.79%	0.53%
FADMX Fidelity Strategic Income Fund	4.03%	4.33%	4.16%	4.31%	2.91%	4.23%	3.82%	4.34%	2.74%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FADMX and DFCFX in my portfolio?

FADMX and DFCFX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FADMX or DFCFX?

FADMX has higher volatility (0.96%) compared to DFCFX (0.33%). In terms of maximum drawdown, FADMX dropped -15.98% vs DFCFX's -4.27%.

Which has better risk-adjusted returns?

DFCFX currently has the higher Sharpe Ratio (5.17 vs 1.52), 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.