FCSRX vs. FSRRX

Last updated Aug 1, 2026

FCSRX (Fidelity Advisor Strategic Real Return Fund Class C) and FSRRX (Fidelity Strategic Real Return Fund) are both Diversified Portfolio funds from Fidelity. Over the past 10 years, FCSRX returned 4.42%/yr vs 5.49%/yr for FSRRX. Their 0.97 correlation means they have historically moved very closely together. FCSRX charges 1.70%/yr vs 0.70%/yr for FSRRX.

Performance

FCSRX vs. FSRRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Strategic Real Return Fund Class C (FCSRX) and Fidelity Strategic Real Return Fund (FSRRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCSRX achieves a 6.55% return, which is significantly lower than FSRRX's 8.37% return. Over the past 10 years, FCSRX has underperformed FSRRX with an annualized return of 4.42%, while FSRRX has yielded a comparatively higher 5.49% annualized return.

FCSRX

• 1D: 0.00%
• 1M: 0.77%
• 6M: 2.98%
• YTD: 6.55%
• 1Y: 12.24%
• 3Y*: 7.14%
• 5Y*: 4.52%
• 10Y*: 4.42%
• ALL TIME*: 2.96%

FSRRX

• 1D: 0.00%
• 1M: 2.05%
• 6M: 4.71%
• YTD: 8.37%
• 1Y: 14.75%
• 3Y*: 8.64%
• 5Y*: 5.82%
• 10Y*: 5.49%
• ALL TIME*: 4.03%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCSRX Fidelity Advisor Strategic Real Return Fund Class C	$0.00	$0.00	$0.00
FSRRX Fidelity Strategic Real Return Fund	$0.00	$0.00	$0.00

FCSRX vs. FSRRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCSRX Fidelity Advisor Strategic Real Return Fund Class C	6.55%	9.27%	4.75%	3.60%	-4.26%	14.68%	2.60%	9.54%	-5.03%	3.02%
FSRRX Fidelity Strategic Real Return Fund	8.37%	10.45%	5.84%	4.59%	-3.34%	15.84%	3.74%	10.48%	-3.99%	3.00%

Correlation

The correlation between FCSRX and FSRRX is 0.95 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.95
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (5Y) Shows whether the relationship held over a longer period.	0.97
Correlation (10Y) Provides a long-term view across more market conditions.	0.97
Correlation (All Time) Calculated using the full available price history since Sep 9, 2005	0.97

The correlation between FCSRX and FSRRX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

FCSRX vs. FSRRX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FCSRX

FCSRX Risk / Return Rank: 89
FCSRX Sharpe Ratio Rank: 93
FCSRX Sortino Ratio Rank: 89
FCSRX Omega Ratio Rank: 89
FCSRX Calmar Ratio Rank: 90
FCSRX Martin Ratio Rank: 84

FSRRX

FSRRX Risk / Return Rank: 95
FSRRX Sharpe Ratio Rank: 98
FSRRX Sortino Ratio Rank: 95
FSRRX Omega Ratio Rank: 94
FSRRX Calmar Ratio Rank: 95
FSRRX Martin Ratio Rank: 94

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FCSRX vs. FSRRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Strategic Real Return Fund Class C (FCSRX) and Fidelity Strategic Real Return Fund (FSRRX). 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.

	FCSRX	FSRRX	Difference
Sharpe ratio: Return per unit of total volatility	2.44	2.92	-0.48
Sortino ratio: Return per unit of downside risk	3.32	4.02	-0.69
Omega ratio: Gain probability vs. loss probability	1.47	1.57	-0.10
Calmar ratio: Return relative to maximum drawdown	3.36	4.14	-0.78
Martin ratio: Return relative to average drawdown	10.54	14.82	-4.28

FCSRX vs. FSRRX - Sharpe Ratio Comparison

The current FCSRX Sharpe Ratio is 2.44, which is comparable to the FSRRX Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of FCSRX and FSRRX, 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

FCSRX vs. FSRRX - Drawdown Comparison

The maximum FCSRX drawdown since its inception was -33.91%, roughly equal to the maximum FSRRX drawdown of -33.42%. Use the drawdown chart below to compare losses from any high point for FCSRX and FSRRX.

Drawdown Indicators

	FCSRX	FSRRX	Difference
Max Drawdown Largest peak-to-trough decline	-33.91%	-33.42%	-0.49%
Max Drawdown (1Y) Largest decline over 1 year	-3.50%	-3.42%	-0.08%
Max Drawdown (3Y) Largest decline over 3 years	-5.85%	-5.80%	-0.05%
Max Drawdown (5Y) Largest decline over 5 years	-13.22%	-12.78%	-0.44%
Max Drawdown (10Y) Largest decline over 10 years	-20.02%	-19.93%	-0.09%
Current Drawdown Current decline from peak	-2.33%	-1.01%	-1.32%
Average Drawdown Average peak-to-trough decline	-5.07%	-4.20%	-0.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.11%	0.95%	+0.16%

Volatility

FCSRX vs. FSRRX - Volatility Comparison

Fidelity Advisor Strategic Real Return Fund Class C (FCSRX) has a higher volatility of 1.62% compared to Fidelity Strategic Real Return Fund (FSRRX) at 1.25%. This indicates that FCSRX's price experiences larger fluctuations and is considered to be riskier than FSRRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCSRX	FSRRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.62%	1.25%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	3.78%	3.77%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	4.88%	4.90%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.90%	6.87%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.71%	6.72%	-0.01%

FCSRX vs. FSRRX - Expense Ratio Comparison

FCSRX has a 1.70% expense ratio, which is higher than FSRRX's 0.70% expense ratio.

Dividends

FCSRX vs. FSRRX - Dividend Comparison

FCSRX's dividend yield for the trailing twelve months is around 2.54%, less than FSRRX's 4.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCSRX Fidelity Advisor Strategic Real Return Fund Class C	2.54%	3.74%	3.86%	4.35%	6.51%	4.53%	1.32%	2.20%	8.51%	1.58%	1.34%	0.66%
FSRRX Fidelity Strategic Real Return Fund	4.58%	4.68%	4.82%	5.29%	7.31%	5.35%	2.25%	3.05%	9.39%	1.57%	2.34%	1.75%

Frequently Asked Questions

Can I hold both FCSRX and FSRRX in my portfolio?

With a correlation of 0.95, FCSRX and FSRRX 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.

Which is riskier, FCSRX or FSRRX?

FCSRX has higher volatility (1.62%) compared to FSRRX (1.25%). In terms of maximum drawdown, FCSRX dropped -33.91% vs FSRRX's -33.42%.

Which has better risk-adjusted returns?

FSRRX currently has the higher Sharpe Ratio (2.92 vs 2.44), 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.