FCBTX vs. MIFIX
FCBTX (Fidelity Advisor Corporate Bond Fund Class M) and MIFIX (Miller Intermediate Bond Fund) are both Corporate Bonds funds. Over the past 10 years, FCBTX returned 2.27%/yr vs 5.15%/yr for MIFIX. At a 0.15 correlation, their price movements are largely independent. FCBTX charges 0.81%/yr vs 0.99%/yr for MIFIX.
Performance
FCBTX vs. MIFIX - Performance Comparison
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Returns By Period
In the year-to-date period, FCBTX achieves a 0.03% return, which is significantly lower than MIFIX's 4.38% return. Over the past 10 years, FCBTX has underperformed MIFIX with an annualized return of 2.27%, while MIFIX has yielded a comparatively higher 5.15% annualized return.
FCBTX
- 1D
- -0.28%
- 1M
- 0.53%
- YTD
- 0.03%
- 6M
- 0.45%
- 1Y
- 4.43%
- 3Y*
- 4.83%
- 5Y*
- -0.28%
- 10Y*
- 2.27%
MIFIX
- 1D
- -0.18%
- 1M
- 0.42%
- YTD
- 4.38%
- 6M
- 4.25%
- 1Y
- 9.36%
- 3Y*
- 7.88%
- 5Y*
- 3.74%
- 10Y*
- 5.15%
FCBTX vs. MIFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCBTX Fidelity Advisor Corporate Bond Fund Class M | 0.03% | 7.48% | 2.16% | 8.07% | -17.35% | -1.88% | 10.41% | 14.02% | -2.98% | 6.37% |
MIFIX Miller Intermediate Bond Fund | 4.38% | 7.11% | 7.31% | 6.88% | -7.72% | 4.32% | 14.22% | 9.79% | -1.91% | 3.10% |
Correlation
The correlation between FCBTX and MIFIX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.15 |
Over the past year, FCBTX and MIFIX have become more correlated (0.44) than their long-term average of 0.15, meaning their price movements have been converging.
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Return for Risk
FCBTX vs. MIFIX — Risk / Return Rank
FCBTX
MIFIX
FCBTX vs. MIFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Corporate Bond Fund Class M (FCBTX) and Miller Intermediate Bond Fund (MIFIX). 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.
| FCBTX | MIFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.04 | ||
| Sortino ratioReturn per unit of downside risk | -3.42 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.63 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 3.58 | -2.18 |
| Martin ratioReturn relative to average drawdown | 4.32 | 14.15 | -9.83 |
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Drawdowns
FCBTX vs. MIFIX - Drawdown Comparison
The maximum FCBTX drawdown since its inception was -23.60%, which is greater than MIFIX's maximum drawdown of -15.58%. Use the drawdown chart below to compare losses from any high point for FCBTX and MIFIX.
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Drawdown Indicators
| FCBTX | MIFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.60% | -15.58% | -8.02% |
Max Drawdown (1Y)Largest decline over 1 year | -3.31% | -2.68% | -0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -6.66% | -5.39% | -1.27% |
Max Drawdown (5Y)Largest decline over 5 years | -23.47% | -11.87% | -11.60% |
Max Drawdown (10Y)Largest decline over 10 years | -23.60% | -15.58% | -8.02% |
Current DrawdownCurrent decline from peak | -3.73% | -0.97% | -2.76% |
Average DrawdownAverage peak-to-trough decline | -4.37% | -2.05% | -2.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 0.68% | +0.40% |
Volatility
FCBTX vs. MIFIX - Volatility Comparison
Fidelity Advisor Corporate Bond Fund Class M (FCBTX) has a higher volatility of 1.17% compared to Miller Intermediate Bond Fund (MIFIX) at 1.11%. This indicates that FCBTX's price experiences larger fluctuations and is considered to be riskier than MIFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCBTX | MIFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.11% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.24% | 2.29% | +0.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.31% | 3.08% | +1.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.70% | 5.00% | +1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.96% | 5.42% | +0.54% |
FCBTX vs. MIFIX - Expense Ratio Comparison
FCBTX has a 0.81% expense ratio, which is lower than MIFIX's 0.99% expense ratio.
Dividends
FCBTX vs. MIFIX - Dividend Comparison
FCBTX's dividend yield for the trailing twelve months is around 3.90%, less than MIFIX's 4.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCBTX Fidelity Advisor Corporate Bond Fund Class M | 3.90% | 3.76% | 3.30% | 3.10% | 2.23% | 2.53% | 3.04% | 2.89% | 3.21% | 2.74% | 3.09% | 2.62% |
MIFIX Miller Intermediate Bond Fund | 4.41% | 4.59% | 4.08% | 3.60% | 3.62% | 5.87% | 5.16% | 2.36% | 5.16% | 3.90% | 1.48% | 1.78% |
Frequently Asked Questions
FCBTX and MIFIX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCBTX has higher volatility (1.17%) compared to MIFIX (1.11%). In terms of maximum drawdown, FCBTX dropped -23.60% vs MIFIX's -15.58%.
MIFIX currently has the higher Sharpe Ratio (3.12 vs 1.08), 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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