FMSDX vs. FAHCX
Compare and contrast key facts about Fidelity Multi-Asset Income Fund (FMSDX) and Fidelity Advisor High Income Advantage Fund Class I (FAHCX).
FMSDX is managed by Fidelity. It was launched on Sep 9, 2015. FAHCX is managed by Fidelity. It was launched on Jul 3, 1995.
Performance
FMSDX vs. FAHCX - Performance Comparison
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FMSDX vs. FAHCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FMSDX Fidelity Multi-Asset Income Fund | 1.82% | 14.10% | 9.95% | 11.75% | -13.67% | 17.27% | 14.56% | 23.14% | -0.91% |
FAHCX Fidelity Advisor High Income Advantage Fund Class I | 0.45% | 12.06% | 9.50% | 12.15% | -11.15% | 10.96% | 8.94% | 17.81% | -5.40% |
Returns By Period
In the year-to-date period, FMSDX achieves a 1.82% return, which is significantly higher than FAHCX's 0.45% return.
FMSDX
- 1D
- 1.49%
- 1M
- -5.08%
- YTD
- 1.82%
- 6M
- 1.32%
- 1Y
- 17.87%
- 3Y*
- 10.34%
- 5Y*
- 6.05%
- 10Y*
- —
FAHCX
- 1D
- 1.21%
- 1M
- -1.76%
- YTD
- 0.45%
- 6M
- 1.86%
- 1Y
- 13.51%
- 3Y*
- 10.09%
- 5Y*
- 5.53%
- 10Y*
- 7.56%
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FMSDX vs. FAHCX - Expense Ratio Comparison
FMSDX has a 0.78% expense ratio, which is higher than FAHCX's 0.74% expense ratio.
Return for Risk
FMSDX vs. FAHCX — Risk / Return Rank
FMSDX
FAHCX
FMSDX vs. FAHCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Multi-Asset Income Fund (FMSDX) 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.
| FMSDX | FAHCX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.56 | 2.06 | -0.50 |
Sortino ratioReturn per unit of downside risk | 2.13 | 2.87 | -0.74 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.43 | -0.13 |
Calmar ratioReturn relative to maximum drawdown | 2.38 | 3.27 | -0.89 |
Martin ratioReturn relative to average drawdown | 8.94 | 14.21 | -5.27 |
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
| FMSDX | FAHCX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 2.06 | -0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | 0.88 | -0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.00 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.95 | -0.10 |
Correlation
The correlation between FMSDX and FAHCX is 0.83, 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
FMSDX vs. FAHCX - Dividend Comparison
FMSDX's dividend yield for the trailing twelve months is around 3.48%, less than FAHCX's 4.35% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMSDX Fidelity Multi-Asset Income Fund | 3.48% | 3.81% | 3.84% | 4.23% | 3.74% | 2.81% | 1.79% | 2.82% | 4.36% | 0.00% | 0.00% | 0.00% |
FAHCX Fidelity Advisor High Income Advantage Fund Class I | 4.35% | 4.73% | 4.18% | 4.70% | 7.35% | 4.94% | 3.70% | 4.51% | 6.09% | 4.95% | 5.53% | 4.42% |
Drawdowns
FMSDX vs. FAHCX - Drawdown Comparison
The maximum FMSDX drawdown since its inception was -21.64%, smaller than the maximum FAHCX drawdown of -48.10%. Use the drawdown chart below to compare losses from any high point for FMSDX and FAHCX.
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Drawdown Indicators
| FMSDX | FAHCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.64% | -48.10% | +26.46% |
Max Drawdown (1Y)Largest decline over 1 year | -7.94% | -4.34% | -3.60% |
Max Drawdown (5Y)Largest decline over 5 years | -18.12% | -15.16% | -2.96% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.49% | — |
Current DrawdownCurrent decline from peak | -5.08% | -1.96% | -3.12% |
Average DrawdownAverage peak-to-trough decline | -3.87% | -4.64% | +0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 1.00% | +1.12% |
Volatility
FMSDX vs. FAHCX - Volatility Comparison
Fidelity Multi-Asset Income Fund (FMSDX) has a higher volatility of 4.29% compared to Fidelity Advisor High Income Advantage Fund Class I (FAHCX) at 2.56%. This indicates that FMSDX's price experiences larger fluctuations and is considered to be riskier than FAHCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMSDX | FAHCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.29% | 2.56% | +1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 8.11% | 4.31% | +3.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.93% | 6.74% | +5.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.77% | 6.31% | +3.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.62% | 7.61% | +3.01% |