FIALX vs. MDVAX
FIALX (Fidelity Sustainable Core Plus Bond Fund) and MDVAX (MassMutual Diversified Bond Fund) are both Intermediate Core-Plus Bond funds. Over the past 3 years, FIALX returned 4.34%/yr vs 5.96%/yr for MDVAX. Their correlation of 0.94 suggests significant overlap in exposure. FIALX charges 0.45%/yr vs 1.07%/yr for MDVAX.
Performance
FIALX vs. MDVAX - Performance Comparison
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Returns By Period
In the year-to-date period, FIALX achieves a 0.80% return, which is significantly lower than MDVAX's 2.59% return.
FIALX
- 1D
- 0.43%
- 1M
- 0.86%
- YTD
- 0.80%
- 6M
- 0.90%
- 1Y
- 4.47%
- 3Y*
- 4.34%
- 5Y*
- —
- 10Y*
- —
MDVAX
- 1D
- 0.12%
- 1M
- 0.61%
- YTD
- 2.59%
- 6M
- 2.82%
- 1Y
- 6.99%
- 3Y*
- 5.96%
- 5Y*
- 0.24%
- 10Y*
- 2.16%
FIALX vs. MDVAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FIALX Fidelity Sustainable Core Plus Bond Fund | 0.80% | 7.26% | 1.67% | 6.20% | -5.56% |
MDVAX MassMutual Diversified Bond Fund | 2.59% | 8.40% | 2.47% | 5.81% | -7.80% |
Correlation
The correlation between FIALX and MDVAX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2022 | 0.94 |
The correlation between FIALX and MDVAX has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.
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Return for Risk
FIALX vs. MDVAX — Risk / Return Rank
FIALX
MDVAX
FIALX vs. MDVAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable Core Plus Bond Fund (FIALX) and MassMutual Diversified Bond Fund (MDVAX). 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.
| FIALX | MDVAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.46 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 3.23 | -1.67 |
| Martin ratioReturn relative to average drawdown | 4.34 | 13.62 | -9.28 |
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Drawdowns
FIALX vs. MDVAX - Drawdown Comparison
The maximum FIALX drawdown since its inception was -9.77%, smaller than the maximum MDVAX drawdown of -23.02%. Use the drawdown chart below to compare losses from any high point for FIALX and MDVAX.
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Drawdown Indicators
| FIALX | MDVAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.77% | -23.02% | +13.25% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -2.21% | -0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -6.24% | -5.44% | -0.80% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.02% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.02% | — |
Current DrawdownCurrent decline from peak | -1.15% | -3.38% | +2.23% |
Average DrawdownAverage peak-to-trough decline | -2.33% | -3.47% | +1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 0.52% | +0.54% |
Volatility
FIALX vs. MDVAX - Volatility Comparison
Fidelity Sustainable Core Plus Bond Fund (FIALX) has a higher volatility of 1.20% compared to MassMutual Diversified Bond Fund (MDVAX) at 0.74%. This indicates that FIALX's price experiences larger fluctuations and is considered to be riskier than MDVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIALX | MDVAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 0.74% | +0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 2.15% | +0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.88% | 3.18% | +0.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.94% | 6.46% | -0.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.94% | 5.27% | +0.67% |
FIALX vs. MDVAX - Expense Ratio Comparison
FIALX has a 0.45% expense ratio, which is lower than MDVAX's 1.07% expense ratio.
Dividends
FIALX vs. MDVAX - Dividend Comparison
FIALX's dividend yield for the trailing twelve months is around 4.07%, more than MDVAX's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIALX Fidelity Sustainable Core Plus Bond Fund | 4.07% | 4.07% | 4.07% | 3.25% | 1.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MDVAX MassMutual Diversified Bond Fund | 3.99% | 3.91% | 2.45% | 4.87% | 3.76% | 4.06% | 7.20% | 2.90% | 2.86% | 2.64% | 2.11% | 0.53% |
Frequently Asked Questions
FIALX and MDVAX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIALX has higher volatility (1.20%) compared to MDVAX (0.74%). In terms of maximum drawdown, FIALX dropped -9.77% vs MDVAX's -23.02%.
MDVAX currently has the higher Sharpe Ratio (2.26 vs 1.19), 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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