FAHCX vs. FIQTX

Last updated Jun 5, 2026

FAHCX (Fidelity Advisor High Income Advantage Fund Class I) and FIQTX (Fidelity Advisor High Income Advantage Fund Class Z) are both High Yield Bonds funds from Fidelity. Over the past 5 years, FAHCX returned 6.47%/yr vs 6.74%/yr for FIQTX. With a 0.99 correlation, they move nearly in lockstep. FAHCX charges 0.74%/yr vs 0.64%/yr for FIQTX.

Performance

FAHCX vs. FIQTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor High Income Advantage Fund Class I (FAHCX) and Fidelity Advisor High Income Advantage Fund Class Z (FIQTX). 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 FAHCX having a 7.33% return and FIQTX slightly higher at 7.38%.

FAHCX

• 1D: -0.24%
• 1M: 1.65%
• YTD: 7.33%
• 6M: 7.99%
• 1Y: 16.47%
• 3Y*: 12.23%
• 5Y*: 6.47%
• 10Y*: 7.84%

FIQTX

• 1D: -0.24%
• 1M: 1.66%
• YTD: 7.38%
• 6M: 8.05%
• 1Y: 16.59%
• 3Y*: 12.64%
• 5Y*: 6.74%
• 10Y*: —

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

FAHCX vs. FIQTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FAHCX Fidelity Advisor High Income Advantage Fund Class I	7.33%	12.06%	9.50%	12.15%	-11.15%	10.96%	8.94%	17.81%	-6.84%
FIQTX Fidelity Advisor High Income Advantage Fund Class Z	7.38%	12.17%	10.38%	12.37%	-11.16%	11.13%	9.06%	17.93%	-6.84%

Correlation

The correlation between FAHCX and FIQTX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Oct 18, 2018	0.99

The correlation between FAHCX and FIQTX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

FAHCX vs. FIQTX — Risk / Return Rank

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

FAHCX

FAHCX Risk / Return Rank: 91
FAHCX Sharpe Ratio Rank: 90
FAHCX Sortino Ratio Rank: 89
FAHCX Omega Ratio Rank: 86
FAHCX Calmar Ratio Rank: 93
FAHCX Martin Ratio Rank: 95

FIQTX

FIQTX Risk / Return Rank: 91
FIQTX Sharpe Ratio Rank: 90
FIQTX Sortino Ratio Rank: 90
FIQTX Omega Ratio Rank: 86
FIQTX Calmar Ratio Rank: 94
FIQTX Martin Ratio Rank: 95

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.

FAHCX vs. FIQTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor High Income Advantage Fund Class I (FAHCX) 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.

	FAHCX	FIQTX	Difference
Sharpe ratio: Return per unit of total volatility	3.00	3.03	-0.02
Sortino ratio: Return per unit of downside risk	4.40	4.44	-0.05
Omega ratio: Gain probability vs. loss probability	1.60	1.60	0.00
Calmar ratio: Return relative to maximum drawdown	5.32	5.37	-0.05
Martin ratio: Return relative to average drawdown	22.31	22.76	-0.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FAHCX vs. FIQTX - Sharpe Ratio Comparison

The current FAHCX Sharpe Ratio is 3.00, which is comparable to the FIQTX Sharpe Ratio of 3.03. The chart below compares the historical Sharpe Ratios of FAHCX 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.

Sharpe Ratios by Period

	FAHCX	FIQTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.00	3.03	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.02	1.06	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.03	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	0.93	+0.05

Drawdowns

FAHCX vs. FIQTX - Drawdown Comparison

The maximum FAHCX drawdown since its inception was -48.10%, which is greater than FIQTX's maximum drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for FAHCX and FIQTX.

Drawdown Indicators

	FAHCX	FIQTX	Difference
Max Drawdown Largest peak-to-trough decline	-48.10%	-28.49%	-19.61%
Max Drawdown (1Y) Largest decline over 1 year	-3.13%	-3.12%	-0.01%
Max Drawdown (3Y) Largest decline over 3 years	-6.98%	-6.96%	-0.02%
Max Drawdown (5Y) Largest decline over 5 years	-15.16%	-15.16%	0.00%
Max Drawdown (10Y) Largest decline over 10 years	-28.49%	—	—
Current Drawdown Current decline from peak	-0.24%	-0.24%	0.00%
Average Drawdown Average peak-to-trough decline	-4.62%	-3.30%	-1.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	0.74%	0.00%

Volatility

FAHCX vs. FIQTX - Volatility Comparison

Fidelity Advisor High Income Advantage Fund Class I (FAHCX) and Fidelity Advisor High Income Advantage Fund Class Z (FIQTX) have volatilities of 1.73% and 1.71%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAHCX	FIQTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.73%	1.71%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	4.35%	4.40%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	5.59%	5.58%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.38%	6.40%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.63%	8.36%	-0.73%

FAHCX vs. FIQTX - Expense Ratio Comparison

FAHCX has a 0.74% expense ratio, which is higher than FIQTX's 0.64% expense ratio.

Dividends

FAHCX vs. FIQTX - Dividend Comparison

FAHCX's dividend yield for the trailing twelve months is around 4.39%, less than FIQTX's 4.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAHCX Fidelity Advisor High Income Advantage Fund Class I	4.39%	4.73%	4.18%	4.70%	7.35%	4.94%	3.70%	4.51%	6.09%	4.95%	5.53%	4.42%
FIQTX Fidelity Advisor High Income Advantage Fund Class Z	4.49%	4.83%	5.06%	4.79%	7.43%	5.01%	3.80%	4.61%	2.54%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FAHCX and FIQTX in my portfolio?

With a correlation of 0.99, FAHCX and FIQTX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FAHCX or FIQTX?

FAHCX has higher volatility (1.73%) compared to FIQTX (1.71%). In terms of maximum drawdown, FAHCX dropped -48.10% vs FIQTX's -28.49%.

Which has better risk-adjusted returns?

FIQTX currently has the higher Sharpe Ratio (3.03 vs 3.00), 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.