FGQMX vs. PHIYX

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Advisor High Income Fund Class A (FGQMX) and PIMCO High Yield Fund (PHIYX).

FGQMX is managed by Fidelity. It was launched on Dec 4, 2018. PHIYX is managed by PIMCO. It was launched on Dec 15, 1992.

Performance

FGQMX vs. PHIYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor High Income Fund Class A (FGQMX) and PIMCO High Yield Fund (PHIYX). The values are adjusted to include any dividend payments, if applicable.

FGQMX vs. PHIYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FGQMX Fidelity Advisor High Income Fund Class A	-0.15%	9.53%	9.11%	10.67%	-13.27%	3.43%	2.05%	13.94%	-2.68%
PHIYX PIMCO High Yield Fund	-1.31%	8.60%	6.81%	12.83%	-11.96%	4.07%	5.37%	14.96%	-2.15%

Returns By Period

In the year-to-date period, FGQMX achieves a -0.15% return, which is significantly higher than PHIYX's -1.31% return.

FGQMX

• 1D: 0.63%
• 1M: -1.60%
• YTD: -0.15%
• 6M: 1.08%
• 1Y: 8.28%
• 3Y*: 8.72%
• 5Y*: 3.54%
• 10Y*: —

PHIYX

• 1D: 0.63%
• 1M: -1.60%
• YTD: -1.31%
• 6M: 0.52%
• 1Y: 5.80%
• 3Y*: 7.49%
• 5Y*: 3.36%
• 10Y*: 5.08%

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

FGQMX vs. PHIYX - Expense Ratio Comparison

FGQMX has a 0.99% expense ratio, which is higher than PHIYX's 0.56% expense ratio.

FGQMX

Fidelity Advisor High Income Fund Class A

PHIYX

PIMCO High Yield Fund

Return for Risk

FGQMX vs. PHIYX — Risk / Return Rank

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

FGQMX

FGQMX Risk / Return Rank: 93
FGQMX Sharpe Ratio Rank: 94
FGQMX Sortino Ratio Rank: 94
FGQMX Omega Ratio Rank: 95
FGQMX Calmar Ratio Rank: 91
FGQMX Martin Ratio Rank: 92

PHIYX

PHIYX Risk / Return Rank: 83
PHIYX Sharpe Ratio Rank: 83
PHIYX Sortino Ratio Rank: 86
PHIYX Omega Ratio Rank: 85
PHIYX Calmar Ratio Rank: 82
PHIYX Martin Ratio Rank: 81

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.

FGQMX vs. PHIYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor High Income Fund Class A (FGQMX) and PIMCO High Yield Fund (PHIYX). 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.

	FGQMX	PHIYX	Difference
Sharpe ratio Return per unit of total volatility	2.18	1.63	+0.55
Sortino ratio Return per unit of downside risk	3.07	2.35	+0.73
Omega ratio Gain probability vs. loss probability	1.51	1.36	+0.15
Calmar ratio Return relative to maximum drawdown	2.77	2.07	+0.70
Martin ratio Return relative to average drawdown	11.86	8.46	+3.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FGQMX vs. PHIYX - Sharpe Ratio Comparison

The current FGQMX Sharpe Ratio is 2.18, which is higher than the PHIYX Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of FGQMX and PHIYX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FGQMX	PHIYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	1.63	+0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.64	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	1.30	-0.66

Correlation

The correlation between FGQMX and PHIYX is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FGQMX vs. PHIYX - Dividend Comparison

FGQMX's dividend yield for the trailing twelve months is around 5.70%, less than PHIYX's 5.84% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGQMX Fidelity Advisor High Income Fund Class A	5.70%	6.14%	5.81%	5.13%	3.68%	3.83%	4.44%	4.82%	0.85%	0.00%	0.00%	0.00%
PHIYX PIMCO High Yield Fund	5.84%	6.19%	6.18%	5.62%	6.01%	4.53%	4.55%	5.04%	5.63%	5.11%	5.37%	8.79%

Drawdowns

FGQMX vs. PHIYX - Drawdown Comparison

The maximum FGQMX drawdown since its inception was -22.40%, smaller than the maximum PHIYX drawdown of -32.73%. Use the drawdown chart below to compare losses from any high point for FGQMX and PHIYX.

Drawdown Indicators

	FGQMX	PHIYX	Difference
Max Drawdown Largest peak-to-trough decline	-22.40%	-32.73%	+10.33%
Max Drawdown (1Y) Largest decline over 1 year	-3.19%	-3.00%	-0.19%
Max Drawdown (5Y) Largest decline over 5 years	-16.58%	-15.74%	-0.84%
Max Drawdown (10Y) Largest decline over 10 years	—	-20.30%	—
Current Drawdown Current decline from peak	-1.60%	-1.84%	+0.24%
Average Drawdown Average peak-to-trough decline	-3.71%	-2.18%	-1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	0.73%	+0.01%

Volatility

FGQMX vs. PHIYX - Volatility Comparison

Fidelity Advisor High Income Fund Class A (FGQMX) and PIMCO High Yield Fund (PHIYX) have volatilities of 1.48% and 1.46%, 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.

Volatility by Period

	FGQMX	PHIYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.48%	1.46%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.32%	2.40%	-0.08%
Volatility (1Y) Calculated over the trailing 1-year period	3.89%	3.77%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.24%	5.25%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.39%	5.62%	+0.77%