FCBAX vs. DFTEX
FCBAX (Fidelity Advisor Corporate Bond Fund Class A) and DFTEX (DFA Intermediate-Term Extended Quality Portfolio Fund) are both Corporate Bonds funds. Over the past 10 years, FCBAX returned 1.99%/yr vs 2.08%/yr for DFTEX. Their correlation of 0.93 means they have usually moved in the same direction. FCBAX charges 0.77%/yr vs 0.20%/yr for DFTEX.
Performance
FCBAX vs. DFTEX - Performance Comparison
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Returns By Period
In the year-to-date period, FCBAX achieves a -1.33% return, which is significantly lower than DFTEX's -0.32% return. Both investments have delivered pretty close results over the past 10 years, with FCBAX having a 1.99% annualized return and DFTEX not far ahead at 2.08%.
FCBAX
- 1D
- -0.19%
- 1M
- -1.88%
- 6M
- -1.47%
- YTD
- -1.33%
- 1Y
- 1.12%
- 3Y*
- 4.32%
- 5Y*
- -0.92%
- 10Y*
- 1.99%
- ALL TIME*
- 3.40%
DFTEX
- 1D
- -0.21%
- 1M
- -1.56%
- 6M
- -0.71%
- YTD
- -0.32%
- 1Y
- 2.28%
- 3Y*
- 5.39%
- 5Y*
- -0.09%
- 10Y*
- 2.08%
- ALL TIME*
- 2.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FCBAX vs. DFTEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCBAX Fidelity Advisor Corporate Bond Fund Class A | -1.33% | 7.51% | 2.21% | 8.10% | -17.32% | -1.85% | 10.46% | 14.11% | -2.90% | 6.47% |
DFTEX DFA Intermediate-Term Extended Quality Portfolio Fund | -0.32% | 7.70% | 2.89% | 9.61% | -16.28% | -2.05% | 10.26% | 13.38% | -2.10% | 5.20% |
Correlation
The correlation between FCBAX and DFTEX is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012 | 0.93 |
The correlation between FCBAX and DFTEX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
FCBAX vs. DFTEX — Risk / Return Rank
FCBAX
DFTEX
FCBAX vs. DFTEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Corporate Bond Fund Class A (FCBAX) and DFA Intermediate-Term Extended Quality Portfolio Fund (DFTEX). 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.
| FCBAX | DFTEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.13 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.54 | 0.95 | -0.40 |
| Martin ratioReturn relative to average drawdown | 1.45 | 2.79 | -1.34 |
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Drawdowns
FCBAX vs. DFTEX - Drawdown Comparison
The maximum FCBAX drawdown since its inception was -23.56%, roughly equal to the maximum DFTEX drawdown of -22.83%. Use the drawdown chart below to compare losses from any high point for FCBAX and DFTEX.
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Drawdown Indicators
| FCBAX | DFTEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.56% | -22.83% | -0.73% |
Max Drawdown (1Y)Largest decline over 1 year | -3.31% | -3.22% | -0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -5.64% | -4.50% | -1.14% |
Max Drawdown (5Y)Largest decline over 5 years | -23.40% | -22.56% | -0.84% |
Max Drawdown (10Y)Largest decline over 10 years | -23.56% | -22.83% | -0.73% |
Current DrawdownCurrent decline from peak | -4.89% | -2.10% | -2.79% |
Average DrawdownAverage peak-to-trough decline | -4.33% | -4.42% | +0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | 1.08% | +0.16% |
Volatility
FCBAX vs. DFTEX - Volatility Comparison
Fidelity Advisor Corporate Bond Fund Class A (FCBAX) and DFA Intermediate-Term Extended Quality Portfolio Fund (DFTEX) have volatilities of 1.09% and 1.04%, 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.
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Volatility by Period
| FCBAX | DFTEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.04% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 3.30% | 3.27% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 4.16% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.68% | 6.68% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.95% | 5.88% | +0.07% |
FCBAX vs. DFTEX - Expense Ratio Comparison
FCBAX has a 0.77% expense ratio, which is higher than DFTEX's 0.20% expense ratio.
Dividends
FCBAX vs. DFTEX - Dividend Comparison
FCBAX's dividend yield for the trailing twelve months is around 3.68%, less than DFTEX's 5.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFTEX DFA Intermediate-Term Extended Quality Portfolio Fund | 5.19% | 4.30% | 4.27% | 3.79% | 3.25% | 4.12% | 3.31% | 3.06% | 3.24% | 2.91% | 2.88% | 3.90% |
FCBAX Fidelity Advisor Corporate Bond Fund Class A | 3.68% | 3.79% | 3.35% | 3.13% | 2.27% | 2.55% | 3.09% | 2.96% | 3.29% | 2.83% | 3.19% | 2.69% |
Frequently Asked Questions
With a correlation of 0.93, FCBAX and DFTEX 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.
FCBAX has higher volatility (1.09%) compared to DFTEX (1.04%). In terms of maximum drawdown, FCBAX dropped -23.56% vs DFTEX's -22.83%.
DFTEX currently has the higher Sharpe Ratio (0.73 vs 0.43), 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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