FBNTX vs. FADMX

Last updated Jul 2, 2026

FBNTX (Fidelity Advisor Short-Term Bond Fund Class M) and FADMX (Fidelity Strategic Income Fund) are both Total Bond Market funds from Fidelity. Over the past 5 years, FBNTX returned 2.03%/yr vs 3.15%/yr for FADMX. A 0.52 correlation means they provide meaningful diversification when combined. FBNTX charges 0.65%/yr vs 0.66%/yr for FADMX.

Performance

FBNTX vs. FADMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Short-Term Bond Fund Class M (FBNTX) and Fidelity Strategic Income Fund (FADMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBNTX achieves a 0.67% return, which is significantly lower than FADMX's 3.53% return.

FBNTX

• 1D: 0.19%
• 1M: 0.07%
• 6M: 0.67%
• YTD: 0.67%
• 1Y: 3.02%
• 3Y*: 4.57%
• 5Y*: 2.03%
• 10Y*: —

FADMX

• 1D: 0.31%
• 1M: 0.39%
• 6M: 3.53%
• YTD: 3.53%
• 1Y: 8.15%
• 3Y*: 8.08%
• 5Y*: 3.15%
• 10Y*: —

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

FBNTX vs. FADMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FBNTX Fidelity Advisor Short-Term Bond Fund Class M	0.67%	5.14%	4.62%	4.72%	-4.00%	-1.08%	3.60%	3.98%	1.46%
FADMX Fidelity Strategic Income Fund	3.53%	9.01%	6.02%	9.55%	-11.84%	3.46%	6.72%	11.06%	-2.02%

Correlation

The correlation between FBNTX and FADMX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Apr 30, 2018	0.52

The correlation between FBNTX and FADMX shifts across timeframes, from 0.49 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FBNTX vs. FADMX — Risk / Return Rank

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

FBNTX

FBNTX Risk / Return Rank: 58
FBNTX Sharpe Ratio Rank: 44
FBNTX Sortino Ratio Rank: 71
FBNTX Omega Ratio Rank: 77
FBNTX Calmar Ratio Rank: 49
FBNTX Martin Ratio Rank: 46

FADMX

FADMX Risk / Return Rank: 83
FADMX Sharpe Ratio Rank: 81
FADMX Sortino Ratio Rank: 82
FADMX Omega Ratio Rank: 83
FADMX Calmar Ratio Rank: 80
FADMX Martin Ratio Rank: 87

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.

FBNTX vs. FADMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Short-Term Bond Fund Class M (FBNTX) and Fidelity Strategic Income Fund (FADMX). 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.

	FBNTX	FADMX	Difference
Sharpe ratio: Return per unit of total volatility	1.58	2.24	-0.65
Sortino ratio: Return per unit of downside risk	2.82	3.30	-0.47
Omega ratio: Gain probability vs. loss probability	1.40	1.45	-0.05
Calmar ratio: Return relative to maximum drawdown	2.26	3.13	-0.87
Martin ratio: Return relative to average drawdown	8.16	13.50	-5.34

FBNTX vs. FADMX - Sharpe Ratio Comparison

The current FBNTX Sharpe Ratio is 1.58, which is comparable to the FADMX Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of FBNTX and FADMX, 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

FBNTX vs. FADMX - Drawdown Comparison

The maximum FBNTX drawdown since its inception was -6.64%, smaller than the maximum FADMX drawdown of -15.98%. Use the drawdown chart below to compare losses from any high point for FBNTX and FADMX.

Drawdown Indicators

	FBNTX	FADMX	Difference
Max Drawdown Largest peak-to-trough decline	-6.64%	-15.98%	+9.34%
Max Drawdown (1Y) Largest decline over 1 year	-1.29%	-2.62%	+1.33%
Max Drawdown (3Y) Largest decline over 3 years	-1.29%	-3.99%	+2.70%
Max Drawdown (5Y) Largest decline over 5 years	-6.40%	-15.98%	+9.58%
Current Drawdown Current decline from peak	-0.17%	0.00%	-0.17%
Average Drawdown Average peak-to-trough decline	-1.01%	-3.04%	+2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	0.61%	-0.25%

Volatility

FBNTX vs. FADMX - Volatility Comparison

The current volatility for Fidelity Advisor Short-Term Bond Fund Class M (FBNTX) is 0.54%, while Fidelity Strategic Income Fund (FADMX) has a volatility of 1.46%. This indicates that FBNTX experiences smaller price fluctuations and is considered to be less risky than FADMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBNTX	FADMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.54%	1.46%	-0.92%
Volatility (6M) Calculated over the trailing 6-month period	1.35%	3.15%	-1.80%
Volatility (1Y) Calculated over the trailing 1-year period	1.87%	3.69%	-1.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.17%	4.55%	-2.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.82%	4.77%	-2.95%

FBNTX vs. FADMX - Expense Ratio Comparison

FBNTX has a 0.65% expense ratio, which is lower than FADMX's 0.66% expense ratio.

Dividends

FBNTX vs. FADMX - Dividend Comparison

FBNTX's dividend yield for the trailing twelve months is around 3.95%, less than FADMX's 4.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FADMX Fidelity Strategic Income Fund	4.29%	4.33%	4.16%	4.31%	2.91%	4.23%	3.82%	4.34%	2.74%	0.00%	0.00%
FBNTX Fidelity Advisor Short-Term Bond Fund Class M	3.95%	4.05%	3.79%	2.53%	0.67%	0.87%	2.51%	1.92%	1.54%	1.06%	0.40%

Frequently Asked Questions

Can I hold both FBNTX and FADMX in my portfolio?

FBNTX and FADMX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FBNTX or FADMX?

FADMX has higher volatility (1.46%) compared to FBNTX (0.54%). In terms of maximum drawdown, FBNTX dropped -6.64% vs FADMX's -15.98%.

Which has better risk-adjusted returns?

FADMX currently has the higher Sharpe Ratio (2.24 vs 1.58), 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.