FIWDX vs. FTEC

Last updated Jun 23, 2026

FIWDX (Fidelity Advisor Strategic Income Fund Class Z) and FTEC (Fidelity MSCI Information Technology Index ETF) are both funds - FIWDX is a Total Bond Market fund managed by Fidelity, while FTEC is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Over the past 5 years, FIWDX returned 3.25%/yr vs 20.85%/yr for FTEC. At a 0.46 correlation, their price movements are largely independent. FIWDX charges 0.61%/yr vs 0.08%/yr for FTEC.

Performance

FIWDX vs. FTEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Strategic Income Fund Class Z (FIWDX) and Fidelity MSCI Information Technology Index ETF (FTEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIWDX achieves a 3.48% return, which is significantly lower than FTEC's 28.31% return.

FIWDX

• 1D: 0.33%
• 1M: 1.34%
• YTD: 3.48%
• 6M: 3.89%
• 1Y: 9.60%
• 3Y*: 8.03%
• 5Y*: 3.25%
• 10Y*: —

FTEC

• 1D: 0.40%
• 1M: 4.21%
• YTD: 28.31%
• 6M: 27.06%
• 1Y: 54.89%
• 3Y*: 32.23%
• 5Y*: 20.85%
• 10Y*: 25.75%

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

FIWDX vs. FTEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIWDX Fidelity Advisor Strategic Income Fund Class Z	3.48%	8.98%	6.07%	9.20%	-11.76%	3.51%	7.60%	11.20%	-1.63%
FTEC Fidelity MSCI Information Technology Index ETF	28.31%	22.11%	29.40%	53.30%	-29.59%	30.49%	45.83%	48.93%	-13.53%

Correlation

The correlation between FIWDX and FTEC is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018	0.46

The correlation between FIWDX and FTEC shifts across timeframes, from 0.46 (5 years) to 0.59 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FIWDX vs. FTEC — Risk / Return Rank

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

FIWDX

FIWDX Risk / Return Rank: 87
FIWDX Sharpe Ratio Rank: 87
FIWDX Sortino Ratio Rank: 89
FIWDX Omega Ratio Rank: 87
FIWDX Calmar Ratio Rank: 84
FIWDX Martin Ratio Rank: 88

FTEC

FTEC Risk / Return Rank: 70
FTEC Sharpe Ratio Rank: 80
FTEC Sortino Ratio Rank: 69
FTEC Omega Ratio Rank: 71
FTEC Calmar Ratio Rank: 70
FTEC Martin Ratio Rank: 60

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.

FIWDX vs. FTEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Strategic Income Fund Class Z (FIWDX) and Fidelity MSCI Information Technology Index ETF (FTEC). 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.

	FIWDX	FTEC	Difference
Sharpe ratio: Return per unit of total volatility	2.63	2.46	+0.17
Sortino ratio: Return per unit of downside risk	4.00	3.02	+0.98
Omega ratio: Gain probability vs. loss probability	1.56	1.40	+0.15
Calmar ratio: Return relative to maximum drawdown	3.69	3.39	+0.29
Martin ratio: Return relative to average drawdown	15.71	10.46	+5.25

FIWDX vs. FTEC - Sharpe Ratio Comparison

The current FIWDX Sharpe Ratio is 2.63, which is comparable to the FTEC Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of FIWDX and FTEC, 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

FIWDX vs. FTEC - Drawdown Comparison

The maximum FIWDX drawdown since its inception was -15.96%, smaller than the maximum FTEC drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for FIWDX and FTEC.

Drawdown Indicators

	FIWDX	FTEC	Difference
Max Drawdown Largest peak-to-trough decline	-15.96%	-34.95%	+18.99%
Max Drawdown (1Y) Largest decline over 1 year	-2.61%	-16.26%	+13.65%
Max Drawdown (3Y) Largest decline over 3 years	-3.97%	-27.30%	+23.33%
Max Drawdown (5Y) Largest decline over 5 years	-15.96%	-34.95%	+18.99%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.95%	—
Current Drawdown Current decline from peak	-0.00%	-4.17%	+4.17%
Average Drawdown Average peak-to-trough decline	-3.18%	-5.57%	+2.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	5.26%	-4.65%

Volatility

FIWDX vs. FTEC - Volatility Comparison

The current volatility for Fidelity Advisor Strategic Income Fund Class Z (FIWDX) is 1.46%, while Fidelity MSCI Information Technology Index ETF (FTEC) has a volatility of 10.69%. This indicates that FIWDX experiences smaller price fluctuations and is considered to be less risky than FTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIWDX	FTEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.46%	10.69%	-9.23%
Volatility (6M) Calculated over the trailing 6-month period	3.14%	18.25%	-15.11%
Volatility (1Y) Calculated over the trailing 1-year period	3.67%	22.50%	-18.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.56%	25.54%	-20.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.89%	24.87%	-19.98%

FIWDX vs. FTEC - Expense Ratio Comparison

FIWDX has a 0.61% expense ratio, which is higher than FTEC's 0.08% expense ratio.

Dividends

FIWDX vs. FTEC - Dividend Comparison

FIWDX's dividend yield for the trailing twelve months is around 4.34%, more than FTEC's 0.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIWDX Fidelity Advisor Strategic Income Fund Class Z	4.34%	4.39%	4.21%	4.02%	2.99%	4.28%	4.62%	4.39%	1.13%	0.00%	0.00%	0.00%
FTEC Fidelity MSCI Information Technology Index ETF	0.35%	0.43%	0.49%	0.77%	0.93%	0.63%	0.83%	1.03%	1.20%	0.96%	1.25%	1.27%

Frequently Asked Questions

Can I hold both FIWDX and FTEC in my portfolio?

FIWDX and FTEC have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIWDX or FTEC?

FTEC has higher volatility (10.69%) compared to FIWDX (1.46%). In terms of maximum drawdown, FIWDX dropped -15.96% vs FTEC's -34.95%.

Which has better risk-adjusted returns?

FIWDX currently has the higher Sharpe Ratio (2.63 vs 2.46), 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.