FBAPX vs. MOFIX
FBAPX (Fidelity Tactical Bond Fund) and MOFIX (Mercer Opportunistic Fixed Income Fund) are both Multisector Bonds funds. Over the past 3 years, FBAPX returned 4.48%/yr vs 5.20%/yr for MOFIX. A 0.69 correlation means they provide meaningful diversification when combined. FBAPX charges 0.66%/yr vs 0.44%/yr for MOFIX.
Performance
FBAPX vs. MOFIX - Performance Comparison
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Returns By Period
In the year-to-date period, FBAPX achieves a 0.75% return, which is significantly higher than MOFIX's -1.18% return.
FBAPX
- 1D
- -0.34%
- 1M
- 0.74%
- YTD
- 0.75%
- 6M
- 1.11%
- 1Y
- 5.15%
- 3Y*
- 4.48%
- 5Y*
- —
- 10Y*
- —
MOFIX
- 1D
- -0.12%
- 1M
- 0.48%
- YTD
- -1.18%
- 6M
- -0.52%
- 1Y
- 2.61%
- 3Y*
- 5.20%
- 5Y*
- 1.48%
- 10Y*
- —
FBAPX vs. MOFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FBAPX Fidelity Tactical Bond Fund | 0.75% | 7.77% | 1.57% | 6.73% | -9.94% |
MOFIX Mercer Opportunistic Fixed Income Fund | -1.18% | 8.60% | 2.23% | 12.22% | -9.85% |
Correlation
The correlation between FBAPX and MOFIX is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2022 | 0.69 |
The correlation between FBAPX and MOFIX has been stable across timeframes, ranging from 0.61 to 0.69 - a consistent structural relationship.
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Return for Risk
FBAPX vs. MOFIX — Risk / Return Rank
FBAPX
MOFIX
FBAPX vs. MOFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Tactical Bond Fund (FBAPX) and Mercer Opportunistic Fixed Income Fund (MOFIX). 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.
| FBAPX | MOFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.21 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 0.91 | +1.01 |
| Martin ratioReturn relative to average drawdown | 5.50 | 2.68 | +2.83 |
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Drawdowns
FBAPX vs. MOFIX - Drawdown Comparison
The maximum FBAPX drawdown since its inception was -14.34%, smaller than the maximum MOFIX drawdown of -19.96%. Use the drawdown chart below to compare losses from any high point for FBAPX and MOFIX.
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Drawdown Indicators
| FBAPX | MOFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.34% | -19.96% | +5.62% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -3.52% | +0.75% |
Max Drawdown (3Y)Largest decline over 3 years | -6.04% | -8.02% | +1.98% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.00% | — |
Current DrawdownCurrent decline from peak | -1.23% | -1.64% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -4.91% | -5.15% | +0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 1.13% | -0.17% |
Volatility
FBAPX vs. MOFIX - Volatility Comparison
Fidelity Tactical Bond Fund (FBAPX) has a higher volatility of 1.11% compared to Mercer Opportunistic Fixed Income Fund (MOFIX) at 0.75%. This indicates that FBAPX's price experiences larger fluctuations and is considered to be riskier than MOFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBAPX | MOFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.11% | 0.75% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 2.40% | +0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 3.01% | +0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.66% | 7.26% | -1.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.66% | 7.16% | -1.50% |
FBAPX vs. MOFIX - Expense Ratio Comparison
FBAPX has a 0.66% expense ratio, which is higher than MOFIX's 0.44% expense ratio.
Dividends
FBAPX vs. MOFIX - Dividend Comparison
FBAPX's dividend yield for the trailing twelve months is around 4.72%, more than MOFIX's 3.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FBAPX Fidelity Tactical Bond Fund | 4.72% | 4.61% | 4.81% | 4.08% | 3.19% | 0.00% |
MOFIX Mercer Opportunistic Fixed Income Fund | 3.36% | 3.32% | 6.91% | 6.44% | 3.81% | 4.20% |
Frequently Asked Questions
FBAPX and MOFIX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBAPX has higher volatility (1.11%) compared to MOFIX (0.75%). In terms of maximum drawdown, FBAPX dropped -14.34% vs MOFIX's -19.96%.
FBAPX currently has the higher Sharpe Ratio (1.35 vs 1.06), 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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