FGTMX vs. FAHCX

Last updated Aug 1, 2026

FGTMX (Fidelity Advisor High Income Fund Class I) and FAHCX (Fidelity Advisor High Income Advantage Fund Class I) are both High Yield Bonds funds from Fidelity. Over the past 5 years, FGTMX returned 3.73%/yr vs 5.63%/yr for FAHCX. Their correlation of 0.80 means they have usually moved in the same direction. FGTMX charges 0.72%/yr vs 0.74%/yr for FAHCX.

Performance

FGTMX vs. FAHCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor High Income Fund Class I (FGTMX) and Fidelity Advisor High Income Advantage Fund Class I (FAHCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FGTMX achieves a 2.41% return, which is significantly lower than FAHCX's 4.88% return.

FGTMX

• 1D: 0.12%
• 1M: -0.98%
• 6M: 1.55%
• YTD: 2.41%
• 1Y: 7.02%
• 3Y*: 8.88%
• 5Y*: 3.73%
• 10Y*: —
• ALL TIME*: 4.44%

FAHCX

• 1D: 0.92%
• 1M: -1.47%
• 6M: 3.31%
• YTD: 4.88%
• 1Y: 10.03%
• 3Y*: 10.28%
• 5Y*: 5.63%
• 10Y*: 7.28%
• ALL TIME*: 7.26%

*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)
FAHCX Fidelity Advisor High Income Advantage Fund Class I	$0.00	$0.00	$0.00
FGTMX Fidelity Advisor High Income Fund Class I	$0.00	$0.00	$0.00

FGTMX vs. FAHCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FGTMX Fidelity Advisor High Income Fund Class I	2.41%	9.80%	9.38%	11.04%	-13.18%	3.85%	2.31%	14.20%	-3.08%
FAHCX Fidelity Advisor High Income Advantage Fund Class I	4.88%	12.06%	9.50%	12.15%	-11.15%	10.96%	8.94%	17.81%	-4.91%

Correlation

The correlation between FGTMX and FAHCX is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.73
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
Correlation (All Time) Calculated using the full available price history since Dec 4, 2018	0.80

The correlation between FGTMX and FAHCX has been stable across timeframes, ranging from 0.73 to 0.82 - a consistent structural relationship.

Return for Risk

FGTMX vs. FAHCX — Risk / Return Rank

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

FGTMX

FGTMX Risk / Return Rank: 89
FGTMX Sharpe Ratio Rank: 87
FGTMX Sortino Ratio Rank: 92
FGTMX Omega Ratio Rank: 89
FGTMX Calmar Ratio Rank: 86
FGTMX Martin Ratio Rank: 92

FAHCX

FAHCX Risk / Return Rank: 71
FAHCX Sharpe Ratio Rank: 65
FAHCX Sortino Ratio Rank: 64
FAHCX Omega Ratio Rank: 64
FAHCX Calmar Ratio Rank: 80
FAHCX Martin Ratio Rank: 83

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.

FGTMX vs. FAHCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor High Income Fund Class I (FGTMX) and Fidelity Advisor High Income Advantage Fund Class I (FAHCX). 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.

	FGTMX	FAHCX	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.54	+0.61
Sortino ratio: Return per unit of downside risk	3.56	2.19	+1.37
Omega ratio: Gain probability vs. loss probability	1.47	1.28	+0.20
Calmar ratio: Return relative to maximum drawdown	3.09	2.63	+0.45
Martin ratio: Return relative to average drawdown	13.64	10.16	+3.48

FGTMX vs. FAHCX - Sharpe Ratio Comparison

The current FGTMX Sharpe Ratio is 2.15, which is higher than the FAHCX Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of FGTMX and FAHCX, 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

FGTMX vs. FAHCX - Drawdown Comparison

The maximum FGTMX drawdown since its inception was -22.37%, smaller than the maximum FAHCX drawdown of -48.10%. Use the drawdown chart below to compare losses from any high point for FGTMX and FAHCX.

Drawdown Indicators

	FGTMX	FAHCX	Difference
Max Drawdown Largest peak-to-trough decline	-22.37%	-48.10%	+25.73%
Max Drawdown (1Y) Largest decline over 1 year	-2.33%	-3.72%	+1.39%
Max Drawdown (3Y) Largest decline over 3 years	-4.15%	-6.98%	+2.83%
Max Drawdown (5Y) Largest decline over 5 years	-16.56%	-15.16%	-1.40%
Max Drawdown (10Y) Largest decline over 10 years	—	-28.49%	—
Current Drawdown Current decline from peak	-1.23%	-2.83%	+1.60%
Average Drawdown Average peak-to-trough decline	-3.49%	-4.60%	+1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	0.96%	-0.43%

Volatility

FGTMX vs. FAHCX - Volatility Comparison

The current volatility for Fidelity Advisor High Income Fund Class I (FGTMX) is 0.55%, while Fidelity Advisor High Income Advantage Fund Class I (FAHCX) has a volatility of 2.05%. This indicates that FGTMX experiences smaller price fluctuations and is considered to be less risky than FAHCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGTMX	FAHCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.55%	2.05%	-1.50%
Volatility (6M) Calculated over the trailing 6-month period	2.63%	5.33%	-2.70%
Volatility (1Y) Calculated over the trailing 1-year period	3.35%	6.37%	-3.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.38%	6.54%	-1.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.35%	7.63%	-1.28%

FGTMX vs. FAHCX - Expense Ratio Comparison

FGTMX has a 0.72% expense ratio, which is lower than FAHCX's 0.74% expense ratio.

Dividends

FGTMX vs. FAHCX - Dividend Comparison

FGTMX's dividend yield for the trailing twelve months is around 5.94%, more than FAHCX's 4.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAHCX Fidelity Advisor High Income Advantage Fund Class I	4.13%	4.73%	4.18%	4.70%	7.35%	4.94%	3.70%	4.51%	6.09%	4.95%	5.53%	4.42%
FGTMX Fidelity Advisor High Income Fund Class I	5.94%	6.38%	6.06%	5.32%	3.91%	4.13%	4.68%	5.05%	0.44%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FGTMX and FAHCX in my portfolio?

FGTMX and FAHCX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FGTMX or FAHCX?

FAHCX has higher volatility (2.05%) compared to FGTMX (0.55%). In terms of maximum drawdown, FGTMX dropped -22.37% vs FAHCX's -48.10%.

Which has better risk-adjusted returns?

FGTMX currently has the higher Sharpe Ratio (2.15 vs 1.54), 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.