FGSMX vs. PRCPX
Compare and contrast key facts about Fidelity Advisor High Income Fund Class C (FGSMX) and T. Rowe Price Credit Opportunities Fund (PRCPX).
FGSMX is managed by Fidelity. It was launched on Dec 4, 2018. PRCPX is a passively managed fund by T. Rowe Price that tracks the performance of the Bloomberg US High-Yield 2% Issuer Capped Bond Index. It was launched on Apr 29, 2014.
Performance
FGSMX vs. PRCPX - Performance Comparison
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FGSMX vs. PRCPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FGSMX Fidelity Advisor High Income Fund Class C | -1.02% | 8.71% | 8.28% | 9.98% | -13.86% | 2.76% | 1.26% | 13.21% | -2.73% |
PRCPX T. Rowe Price Credit Opportunities Fund | -0.13% | 14.80% | 7.46% | 14.90% | -10.50% | 6.36% | 5.55% | 13.77% | -2.20% |
Returns By Period
In the year-to-date period, FGSMX achieves a -1.02% return, which is significantly lower than PRCPX's -0.13% return.
FGSMX
- 1D
- 0.00%
- 1M
- -2.33%
- YTD
- -1.02%
- 6M
- 0.14%
- 1Y
- 7.01%
- 3Y*
- 7.65%
- 5Y*
- 2.70%
- 10Y*
- —
PRCPX
- 1D
- 0.13%
- 1M
- -1.62%
- YTD
- -0.13%
- 6M
- 3.02%
- 1Y
- 13.68%
- 3Y*
- 10.60%
- 5Y*
- 5.87%
- 10Y*
- 6.83%
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FGSMX vs. PRCPX - Expense Ratio Comparison
FGSMX has a 1.76% expense ratio, which is higher than PRCPX's 0.81% expense ratio.
Return for Risk
FGSMX vs. PRCPX — Risk / Return Rank
FGSMX
PRCPX
FGSMX vs. PRCPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor High Income Fund Class C (FGSMX) and T. Rowe Price Credit Opportunities Fund (PRCPX). 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.
| FGSMX | PRCPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.89 | 3.47 | -1.58 |
Sortino ratioReturn per unit of downside risk | 2.61 | 5.52 | -2.91 |
Omega ratioGain probability vs. loss probability | 1.43 | 1.93 | -0.50 |
Calmar ratioReturn relative to maximum drawdown | 2.09 | 4.53 | -2.44 |
Martin ratioReturn relative to average drawdown | 9.08 | 21.08 | -12.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FGSMX | PRCPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.89 | 3.47 | -1.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 1.23 | -0.72 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.26 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.88 | -0.36 |
Correlation
The correlation between FGSMX and PRCPX is 0.86, 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
FGSMX vs. PRCPX - Dividend Comparison
FGSMX's dividend yield for the trailing twelve months is around 5.05%, less than PRCPX's 12.89% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FGSMX Fidelity Advisor High Income Fund Class C | 5.05% | 5.40% | 5.06% | 4.39% | 3.08% | 3.18% | 3.69% | 4.08% | 0.80% | 0.00% | 0.00% | 0.00% |
PRCPX T. Rowe Price Credit Opportunities Fund | 12.89% | 12.19% | 7.03% | 7.88% | 4.89% | 5.11% | 5.36% | 5.18% | 5.72% | 4.95% | 5.88% | 7.58% |
Drawdowns
FGSMX vs. PRCPX - Drawdown Comparison
The maximum FGSMX drawdown since its inception was -22.51%, roughly equal to the maximum PRCPX drawdown of -23.07%. Use the drawdown chart below to compare losses from any high point for FGSMX and PRCPX.
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Drawdown Indicators
| FGSMX | PRCPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.51% | -23.07% | +0.56% |
Max Drawdown (1Y)Largest decline over 1 year | -3.31% | -3.03% | -0.28% |
Max Drawdown (5Y)Largest decline over 5 years | -16.99% | -14.34% | -2.65% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.07% | — |
Current DrawdownCurrent decline from peak | -2.33% | -1.74% | -0.59% |
Average DrawdownAverage peak-to-trough decline | -4.05% | -3.16% | -0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 0.65% | +0.11% |
Volatility
FGSMX vs. PRCPX - Volatility Comparison
Fidelity Advisor High Income Fund Class C (FGSMX) has a higher volatility of 1.26% compared to T. Rowe Price Credit Opportunities Fund (PRCPX) at 1.10%. This indicates that FGSMX's price experiences larger fluctuations and is considered to be riskier than PRCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FGSMX | PRCPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 1.10% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.21% | 2.52% | -0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.90% | 4.11% | -0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.26% | 4.79% | +0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.39% | 5.45% | +0.94% |