FAHDX vs. FCMAX
Compare and contrast key facts about Fidelity Advisor High Income Advantage Fund Class A (FAHDX) and Fidelity Advisor California Municipal Income Fund Class A (FCMAX).
FAHDX is managed by Fidelity. It was launched on Jan 5, 1987. FCMAX is managed by Fidelity. It was launched on Aug 1, 2002.
Performance
FAHDX vs. FCMAX - Performance Comparison
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FAHDX vs. FCMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FAHDX Fidelity Advisor High Income Advantage Fund Class A | 0.34% | 11.79% | 9.26% | 12.00% | -11.37% | 10.78% | 8.72% | 17.39% | -5.44% | 11.40% |
FCMAX Fidelity Advisor California Municipal Income Fund Class A | -0.80% | 5.28% | 1.20% | 5.85% | -9.83% | 0.96% | 4.15% | 7.25% | 0.35% | 5.52% |
Returns By Period
In the year-to-date period, FAHDX achieves a 0.34% return, which is significantly higher than FCMAX's -0.80% return. Over the past 10 years, FAHDX has outperformed FCMAX with an annualized return of 7.31%, while FCMAX has yielded a comparatively lower 1.65% annualized return.
FAHDX
- 1D
- 1.21%
- 1M
- -1.79%
- YTD
- 0.34%
- 6M
- 1.74%
- 1Y
- 13.24%
- 3Y*
- 9.84%
- 5Y*
- 5.30%
- 10Y*
- 7.31%
FCMAX
- 1D
- 0.33%
- 1M
- -2.63%
- YTD
- -0.80%
- 6M
- 0.70%
- 1Y
- 4.00%
- 3Y*
- 2.90%
- 5Y*
- 0.53%
- 10Y*
- 1.65%
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FAHDX vs. FCMAX - Expense Ratio Comparison
FAHDX has a 0.99% expense ratio, which is higher than FCMAX's 0.79% expense ratio.
Return for Risk
FAHDX vs. FCMAX — Risk / Return Rank
FAHDX
FCMAX
FAHDX vs. FCMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor High Income Advantage Fund Class A (FAHDX) and Fidelity Advisor California Municipal Income Fund Class A (FCMAX). 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.
| FAHDX | FCMAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.05 | 0.89 | +1.16 |
Sortino ratioReturn per unit of downside risk | 2.84 | 1.19 | +1.65 |
Omega ratioGain probability vs. loss probability | 1.43 | 1.25 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 3.22 | 1.01 | +2.21 |
Martin ratioReturn relative to average drawdown | 13.85 | 3.60 | +10.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FAHDX | FCMAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 0.89 | +1.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | 0.14 | +0.71 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.96 | 0.41 | +0.55 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 0.60 | +0.28 |
Correlation
The correlation between FAHDX and FCMAX is 0.03, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FAHDX vs. FCMAX - Dividend Comparison
FAHDX's dividend yield for the trailing twelve months is around 4.10%, more than FCMAX's 2.67% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAHDX Fidelity Advisor High Income Advantage Fund Class A | 4.10% | 4.45% | 3.95% | 4.47% | 6.87% | 4.56% | 3.47% | 4.26% | 5.72% | 4.66% | 5.28% | 4.20% |
FCMAX Fidelity Advisor California Municipal Income Fund Class A | 2.67% | 3.43% | 2.09% | 2.15% | 1.44% | 1.86% | 2.46% | 2.50% | 2.68% | 3.18% | 3.13% | 2.72% |
Drawdowns
FAHDX vs. FCMAX - Drawdown Comparison
The maximum FAHDX drawdown since its inception was -48.43%, which is greater than FCMAX's maximum drawdown of -16.96%. Use the drawdown chart below to compare losses from any high point for FAHDX and FCMAX.
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Drawdown Indicators
| FAHDX | FCMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.43% | -16.96% | -31.47% |
Max Drawdown (1Y)Largest decline over 1 year | -4.30% | -5.00% | +0.70% |
Max Drawdown (5Y)Largest decline over 5 years | -15.29% | -14.38% | -0.91% |
Max Drawdown (10Y)Largest decline over 10 years | -28.43% | -14.38% | -14.05% |
Current DrawdownCurrent decline from peak | -1.98% | -2.94% | +0.96% |
Average DrawdownAverage peak-to-trough decline | -5.23% | -3.09% | -2.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 1.41% | -0.41% |
Volatility
FAHDX vs. FCMAX - Volatility Comparison
Fidelity Advisor High Income Advantage Fund Class A (FAHDX) has a higher volatility of 2.59% compared to Fidelity Advisor California Municipal Income Fund Class A (FCMAX) at 1.27%. This indicates that FAHDX's price experiences larger fluctuations and is considered to be riskier than FCMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAHDX | FCMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.59% | 1.27% | +1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 4.27% | 1.82% | +2.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.68% | 4.95% | +1.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.28% | 3.92% | +2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.62% | 4.02% | +3.60% |