FAHCX vs. FTHRX

Last updated Aug 1, 2026

FAHCX (Fidelity Advisor High Income Advantage Fund Class I) and FTHRX (Fidelity Intermediate Bond Fund) are both mutual funds - FAHCX is a High Yield Bonds fund managed by Fidelity, while FTHRX is a Intermediate Core Bond fund actively managed by Fidelity. Over the past 10 years, FAHCX returned 7.28%/yr vs 1.87%/yr for FTHRX. Their 0.07 correlation means their historical movements had little consistent relationship. FAHCX charges 0.74%/yr vs 0.45%/yr for FTHRX.

Performance

FAHCX vs. FTHRX - 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 Intermediate Bond Fund (FTHRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAHCX achieves a 4.88% return, which is significantly higher than FTHRX's -0.23% return. Over the past 10 years, FAHCX has outperformed FTHRX with an annualized return of 7.28%, while FTHRX has yielded a comparatively lower 1.87% annualized return.

FAHCX

• 1D: 0.92%
• 1M: -1.47%
• 6M: 3.31%
• YTD: 4.88%
• 1Y: 10.03%
• 3Y*: 10.28%
• 5Y*: 5.63%
• 10Y*: 7.28%
• ALL TIME*: 7.26%

FTHRX

• 1D: 0.10%
• 1M: -0.59%
• 6M: -0.34%
• YTD: -0.23%
• 1Y: 1.82%
• 3Y*: 4.38%
• 5Y*: 0.81%
• 10Y*: 1.87%
• ALL TIME*: 3.83%

*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)
FAHCX Fidelity Advisor High Income Advantage Fund Class I	$0.00	$0.00	$0.00
FTHRX Fidelity Intermediate Bond Fund	$0.00	$0.00	$0.00

FAHCX vs. FTHRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAHCX Fidelity Advisor High Income Advantage Fund Class I	4.88%	12.06%	9.50%	12.15%	-11.15%	10.96%	8.94%	17.81%	-5.25%	11.74%
FTHRX Fidelity Intermediate Bond Fund	-0.23%	6.89%	3.25%	5.55%	-9.17%	-1.60%	7.06%	7.20%	0.52%	2.31%

Correlation

The correlation between FAHCX and FTHRX is 0.32, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.32
Correlation (3Y) Balances recent behavior with more history.	0.31
Correlation (5Y) Shows whether the relationship held over a longer period.	0.30
Correlation (10Y) Provides a long-term view across more market conditions.	0.14
Correlation (All Time) Calculated using the full available price history since Dec 31, 1993	0.07

Over the past year, FAHCX and FTHRX have become more correlated (0.32) than their long-term average of 0.07, meaning their price movements have been converging.

Return for Risk

FAHCX vs. FTHRX — Risk / Return Rank

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

FAHCX

FAHCX Risk / Return Rank: 71
FAHCX Sharpe Ratio Rank: 65
FAHCX Sortino Ratio Rank: 64
FAHCX Omega Ratio Rank: 64
FAHCX Calmar Ratio Rank: 80
FAHCX Martin Ratio Rank: 83

FTHRX

FTHRX Risk / Return Rank: 32
FTHRX Sharpe Ratio Rank: 34
FTHRX Sortino Ratio Rank: 35
FTHRX Omega Ratio Rank: 33
FTHRX Calmar Ratio Rank: 32
FTHRX Martin Ratio Rank: 24

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.

FAHCX vs. FTHRX - 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 Intermediate Bond Fund (FTHRX). 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.

	FAHCX	FTHRX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.04	+0.50
Sortino ratio: Return per unit of downside risk	2.19	1.57	+0.62
Omega ratio: Gain probability vs. loss probability	1.28	1.19	+0.09
Calmar ratio: Return relative to maximum drawdown	2.63	1.35	+1.29
Martin ratio: Return relative to average drawdown	10.16	3.34	+6.83

FAHCX vs. FTHRX - Sharpe Ratio Comparison

The current FAHCX Sharpe Ratio is 1.54, which is higher than the FTHRX Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of FAHCX and FTHRX, 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

FAHCX vs. FTHRX - Drawdown Comparison

The maximum FAHCX drawdown since its inception was -48.10%, which is greater than FTHRX's maximum drawdown of -19.01%. Use the drawdown chart below to compare losses from any high point for FAHCX and FTHRX.

Drawdown Indicators

	FAHCX	FTHRX	Difference
Max Drawdown Largest peak-to-trough decline	-48.10%	-19.01%	-29.09%
Max Drawdown (1Y) Largest decline over 1 year	-3.72%	-2.11%	-1.61%
Max Drawdown (3Y) Largest decline over 3 years	-6.98%	-2.50%	-4.48%
Max Drawdown (5Y) Largest decline over 5 years	-15.16%	-13.18%	-1.98%
Max Drawdown (10Y) Largest decline over 10 years	-28.49%	-13.25%	-15.24%
Current Drawdown Current decline from peak	-2.83%	-1.46%	-1.37%
Average Drawdown Average peak-to-trough decline	-4.60%	-3.06%	-1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	0.85%	+0.11%

Volatility

FAHCX vs. FTHRX - Volatility Comparison

Fidelity Advisor High Income Advantage Fund Class I (FAHCX) has a higher volatility of 2.05% compared to Fidelity Intermediate Bond Fund (FTHRX) at 0.73%. This indicates that FAHCX's price experiences larger fluctuations and is considered to be riskier than FTHRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAHCX	FTHRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.05%	0.73%	+1.32%
Volatility (6M) Calculated over the trailing 6-month period	5.33%	2.18%	+3.15%
Volatility (1Y) Calculated over the trailing 1-year period	6.37%	2.74%	+3.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.54%	4.04%	+2.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.63%	3.40%	+4.23%

FAHCX vs. FTHRX - Expense Ratio Comparison

FAHCX has a 0.74% expense ratio, which is higher than FTHRX's 0.45% expense ratio.

Dividends

FAHCX vs. FTHRX - Dividend Comparison

FAHCX's dividend yield for the trailing twelve months is around 4.13%, more than FTHRX's 3.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAHCX Fidelity Advisor High Income Advantage Fund Class I	4.13%	4.73%	4.18%	4.70%	7.35%	4.94%	3.70%	4.51%	6.09%	4.95%	5.53%	4.42%
FTHRX Fidelity Intermediate Bond Fund	3.41%	3.59%	3.49%	2.94%	1.55%	1.53%	4.16%	2.49%	2.48%	2.20%	2.63%	2.13%

Frequently Asked Questions

Can I hold both FAHCX and FTHRX in my portfolio?

FAHCX and FTHRX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAHCX or FTHRX?

FAHCX has higher volatility (2.05%) compared to FTHRX (0.73%). In terms of maximum drawdown, FAHCX dropped -48.10% vs FTHRX's -19.01%.

Which has better risk-adjusted returns?

FAHCX currently has the higher Sharpe Ratio (1.54 vs 1.04), 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.