FADMX vs. FIKQX
FADMX (Fidelity Strategic Income Fund) and FIKQX (Fidelity Advisor Investment Grade Bond Fund Class Z) are both mutual funds - FADMX is a Multisector Bond fund managed by Fidelity, while FIKQX is a Total Bond Market fund managed by Fidelity. Over the past 5 years, FADMX returned 2.90%/yr vs -0.07%/yr for FIKQX. A 0.70 correlation means they provide meaningful diversification when combined. FADMX charges 0.64%/yr vs 0.36%/yr for FIKQX.
Performance
FADMX vs. FIKQX - Performance Comparison
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Returns By Period
In the year-to-date period, FADMX achieves a 2.52% return, which is significantly higher than FIKQX's -0.26% return.
FADMX
- 1D
- -0.33%
- 1M
- -0.51%
- 6M
- 2.01%
- YTD
- 2.52%
- 1Y
- 7.36%
- 3Y*
- 7.50%
- 5Y*
- 2.90%
- 10Y*
- —
FIKQX
- 1D
- -0.42%
- 1M
- -0.64%
- 6M
- -0.40%
- YTD
- -0.26%
- 1Y
- 3.62%
- 3Y*
- 4.07%
- 5Y*
- -0.07%
- 10Y*
- —
FADMX vs. FIKQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FADMX Fidelity Strategic Income Fund | 2.52% | 9.01% | 6.02% | 9.55% | -11.84% | 3.46% | 6.72% | 11.06% | -1.70% |
FIKQX Fidelity Advisor Investment Grade Bond Fund Class Z | -0.26% | 7.31% | 1.69% | 6.75% | -13.97% | -1.03% | 10.00% | 9.90% | 2.01% |
Correlation
The correlation between FADMX and FIKQX is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018 | 0.70 |
The correlation between FADMX and FIKQX shifts across timeframes, from 0.67 (1 year) to 0.79 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FADMX vs. FIKQX — Risk / Return Rank
FADMX
FIKQX
FADMX vs. FIKQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Strategic Income Fund (FADMX) and Fidelity Advisor Investment Grade Bond Fund Class Z (FIKQX). 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 | FIKQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.05 | ||
| Sortino ratioReturn per unit of downside risk | +1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.17 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.83 | 1.16 | +1.67 |
| Martin ratioReturn relative to average drawdown | 12.01 | 3.17 | +8.84 |
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Drawdowns
FADMX vs. FIKQX - Drawdown Comparison
The maximum FADMX drawdown since its inception was -15.98%, smaller than the maximum FIKQX drawdown of -18.53%. Use the drawdown chart below to compare losses from any high point for FADMX and FIKQX.
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Drawdown Indicators
| FADMX | FIKQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.98% | -18.53% | +2.55% |
Max Drawdown (1Y)Largest decline over 1 year | -2.62% | -3.13% | +0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -3.99% | -6.05% | +2.06% |
Max Drawdown (5Y)Largest decline over 5 years | -15.98% | -18.53% | +2.55% |
Current DrawdownCurrent decline from peak | -0.98% | -2.21% | +1.23% |
Average DrawdownAverage peak-to-trough decline | -3.03% | -5.17% | +2.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 1.14% | -0.53% |
Volatility
FADMX vs. FIKQX - Volatility Comparison
Fidelity Strategic Income Fund (FADMX) has a higher volatility of 1.38% compared to Fidelity Advisor Investment Grade Bond Fund Class Z (FIKQX) at 1.16%. This indicates that FADMX's price experiences larger fluctuations and is considered to be riskier than FIKQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FADMX | FIKQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 1.16% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 3.20% | 2.91% | +0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.71% | 3.83% | -0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.56% | 6.01% | -1.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.77% | 5.46% | -0.69% |
FADMX vs. FIKQX - Expense Ratio Comparison
FADMX has a 0.64% expense ratio, which is higher than FIKQX's 0.36% expense ratio.
Dividends
FADMX vs. FIKQX - Dividend Comparison
FADMX's dividend yield for the trailing twelve months is around 4.33%, more than FIKQX's 4.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FADMX Fidelity Strategic Income Fund | 4.33% | 4.33% | 4.16% | 4.31% | 2.91% | 4.23% | 3.82% | 4.34% | 2.74% |
FIKQX Fidelity Advisor Investment Grade Bond Fund Class Z | 4.04% | 3.97% | 4.08% | 3.65% | 2.05% | 1.44% | 4.90% | 2.83% | 1.07% |
Frequently Asked Questions
FADMX and FIKQX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FADMX has higher volatility (1.38%) compared to FIKQX (1.16%). In terms of maximum drawdown, FADMX dropped -15.98% vs FIKQX's -18.53%.
FADMX currently has the higher Sharpe Ratio (2.00 vs 0.95), 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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