FFRIX vs. ICMUX
FFRIX (Fidelity Advisor Floating Rate High Income Fund Class I) and ICMUX (Intrepid Income Fund) are both mutual funds - FFRIX is a High Yield Bonds fund managed by Fidelity, while ICMUX is a Multisector Bonds fund actively managed by Intrepid. Over the past 10 years, FFRIX returned 4.69%/yr vs 5.73%/yr for ICMUX. Their 0.35 correlation means their historical movements had little consistent relationship. FFRIX charges 0.72%/yr vs 1.01%/yr for ICMUX.
Performance
FFRIX vs. ICMUX - Performance Comparison
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Returns By Period
In the year-to-date period, FFRIX achieves a 2.01% return, which is significantly lower than ICMUX's 2.85% return. Over the past 10 years, FFRIX has underperformed ICMUX with an annualized return of 4.69%, while ICMUX has yielded a comparatively higher 5.73% annualized return.
FFRIX
- 1D
- 0.00%
- 1M
- 0.11%
- 6M
- 1.88%
- YTD
- 2.01%
- 1Y
- 4.90%
- 3Y*
- 6.20%
- 5Y*
- 5.29%
- 10Y*
- 4.69%
- ALL TIME*
- 4.18%
ICMUX
- 1D
- 0.11%
- 1M
- 0.34%
- 6M
- 2.35%
- YTD
- 2.85%
- 1Y
- 6.60%
- 3Y*
- 8.93%
- 5Y*
- 6.14%
- 10Y*
- 5.73%
- ALL TIME*
- 4.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
ICMUX Intrepid Income Fund | $0.00 | $0.00 | $0.00 |
FFRIX vs. ICMUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FFRIX Fidelity Advisor Floating Rate High Income Fund Class I | 2.01% | 5.54% | 7.07% | 11.63% | -1.58% | 5.06% | 1.64% | 8.47% | 0.13% | 3.86% |
ICMUX Intrepid Income Fund | 2.85% | 8.16% | 10.43% | 10.90% | -3.17% | 10.02% | 8.77% | 4.65% | 0.53% | 3.79% |
Correlation
The correlation between FFRIX and ICMUX is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.37 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.34 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2010 | 0.35 |
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Return for Risk
FFRIX vs. ICMUX — Risk / Return Rank
FFRIX
ICMUX
FFRIX vs. ICMUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Floating Rate High Income Fund Class I (FFRIX) and Intrepid Income Fund (ICMUX). 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.
| FFRIX | ICMUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.74 | 1.79 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.39 | 4.83 | -0.44 |
| Martin ratioReturn relative to average drawdown | 14.85 | 16.75 | -1.90 |
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Drawdowns
FFRIX vs. ICMUX - Drawdown Comparison
The maximum FFRIX drawdown since its inception was -22.12%, which is greater than ICMUX's maximum drawdown of -8.77%. Use the drawdown chart below to compare losses from any high point for FFRIX and ICMUX.
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Drawdown Indicators
| FFRIX | ICMUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.12% | -8.77% | -13.35% |
Max Drawdown (1Y)Largest decline over 1 year | -1.21% | -1.34% | +0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -3.29% | -3.11% | -0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -5.92% | -5.64% | -0.28% |
Max Drawdown (10Y)Largest decline over 10 years | -22.12% | -8.77% | -13.35% |
Current DrawdownCurrent decline from peak | -0.11% | -0.11% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -1.00% | -0.73% | -0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 0.39% | -0.03% |
Volatility
FFRIX vs. ICMUX - Volatility Comparison
The current volatility for Fidelity Advisor Floating Rate High Income Fund Class I (FFRIX) is 0.27%, while Intrepid Income Fund (ICMUX) has a volatility of 0.48%. This indicates that FFRIX experiences smaller price fluctuations and is considered to be less risky than ICMUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FFRIX | ICMUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.27% | 0.48% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 1.80% | 1.45% | +0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.44% | 1.94% | +0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.93% | 2.65% | +0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.15% | 2.57% | +1.58% |
FFRIX vs. ICMUX - Expense Ratio Comparison
FFRIX has a 0.72% expense ratio, which is lower than ICMUX's 1.01% expense ratio.
Dividends
FFRIX vs. ICMUX - Dividend Comparison
FFRIX's dividend yield for the trailing twelve months is around 6.36%, less than ICMUX's 6.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFRIX Fidelity Advisor Floating Rate High Income Fund Class I | 6.36% | 7.37% | 6.92% | 7.47% | 3.78% | 2.69% | 3.80% | 5.12% | 4.65% | 4.00% | 4.38% | 3.32% |
ICMUX Intrepid Income Fund | 6.89% | 7.96% | 7.85% | 9.10% | 8.17% | 5.99% | 5.56% | 3.35% | 3.07% | 2.86% | 3.01% | 3.53% |
Frequently Asked Questions
FFRIX and ICMUX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICMUX has higher volatility (0.48%) compared to FFRIX (0.27%). In terms of maximum drawdown, FFRIX dropped -22.12% vs ICMUX's -8.77%.
ICMUX currently has the higher Sharpe Ratio (3.34 vs 2.19), 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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