FADMX vs. DFCFX

Last updated Jun 24, 2026

FADMX (Fidelity Strategic Income Fund) and DFCFX (DFA Two-Year Fixed Income Portfolio) are both mutual funds - FADMX is a Total Bond Market fund managed by Fidelity, while DFCFX is a Short-Term Bond fund managed by Dimensional. Over the past 5 years, FADMX returned 3.23%/yr vs 3.83%/yr for DFCFX. At a 0.20 correlation, their price movements are largely independent. FADMX charges 0.66%/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

In the year-to-date period, FADMX achieves a 3.37% return, which is significantly higher than DFCFX's 1.62% return.

FADMX

• 1D: -0.08%
• 1M: 1.34%
• YTD: 3.37%
• 6M: 3.78%
• 1Y: 9.26%
• 3Y*: 8.21%
• 5Y*: 3.23%
• 10Y*: —

DFCFX

• 1D: 0.00%
• 1M: 0.21%
• YTD: 1.62%
• 6M: 1.73%
• 1Y: 2.76%
• 3Y*: 4.02%
• 5Y*: 3.83%
• 10Y*: 2.48%

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

FADMX vs. DFCFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FADMX Fidelity Strategic Income Fund	3.37%	9.01%	6.02%	9.55%	-11.84%	3.46%	6.72%	11.06%	-2.02%
DFCFX DFA Two-Year Fixed Income Portfolio	1.62%	2.28%	5.33%	4.92%	-3.28%	8.60%	0.57%	2.65%	1.77%

Correlation

The correlation between FADMX and DFCFX is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.28
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 0.01 (1 year) to 0.28 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FADMX vs. DFCFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FADMX

FADMX Risk / Return Rank: 87
FADMX Sharpe Ratio Rank: 87
FADMX Sortino Ratio Rank: 88
FADMX Omega Ratio Rank: 86
FADMX Calmar Ratio Rank: 83
FADMX Martin Ratio Rank: 88

DFCFX

DFCFX Risk / Return Rank: 65
DFCFX Sharpe Ratio Rank: 72
DFCFX Sortino Ratio Rank: 46
DFCFX Omega Ratio Rank: 99
DFCFX Calmar Ratio Rank: 56
DFCFX Martin Ratio Rank: 51

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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	2.63	2.27	+0.36
Sortino ratio: Return per unit of downside risk	3.95	2.61	+1.34
Omega ratio: Gain probability vs. loss probability	1.55	2.96	-1.40
Calmar ratio: Return relative to maximum drawdown	3.66	2.73	+0.93
Martin ratio: Return relative to average drawdown	15.86	9.86	+6.00

FADMX vs. DFCFX - Sharpe Ratio Comparison

The current FADMX Sharpe Ratio is 2.63, which is comparable to the DFCFX Sharpe Ratio of 2.27. 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%	-1.03%	-1.59%
Max Drawdown (3Y) Largest decline over 3 years	-3.99%	-1.33%	-2.66%
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	-0.08%	-0.10%	+0.02%
Average Drawdown Average peak-to-trough decline	-3.05%	-0.26%	-2.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.60%	0.28%	+0.32%

Volatility

FADMX vs. DFCFX - Volatility Comparison

Fidelity Strategic Income Fund (FADMX) has a higher volatility of 1.35% 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	1.35%	0.33%	+1.02%
Volatility (6M) Calculated over the trailing 6-month period	3.06%	0.49%	+2.57%
Volatility (1Y) Calculated over the trailing 1-year period	3.64%	1.24%	+2.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.54%	4.39%	+0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.77%	3.13%	+1.64%

FADMX vs. DFCFX - Expense Ratio Comparison

FADMX has a 0.66% 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 4.28%, more than DFCFX's 2.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFCFX DFA Two-Year Fixed Income Portfolio	2.92%	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	4.28%	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 0.01, 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 (1.35%) 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?

FADMX currently has the higher Sharpe Ratio (2.63 vs 2.27), 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.