FOCIX vs. FMSDX
FOCIX (Fairholme Focused Income Fund) and FMSDX (Fidelity Multi-Asset Income Fund) are both mutual funds - FOCIX is a High Yield Bonds fund managed by Fairholme, while FMSDX is a Diversified Portfolio fund actively managed by Fidelity. Over the past 5 years, FOCIX returned 10.48%/yr vs 5.65%/yr for FMSDX. Their 0.45 correlation means their historical movements had little consistent relationship. FOCIX charges 1.00%/yr vs 0.83%/yr for FMSDX.
Performance
FOCIX vs. FMSDX - Performance Comparison
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Returns By Period
In the year-to-date period, FOCIX achieves a 9.97% return, which is significantly higher than FMSDX's 4.67% return.
FOCIX
- 1D
- -0.06%
- 1M
- 1.54%
- 6M
- 5.79%
- YTD
- 9.97%
- 1Y
- 12.13%
- 3Y*
- 11.68%
- 5Y*
- 10.48%
- 10Y*
- 7.07%
- ALL TIME*
- 7.38%
FMSDX
- 1D
- 0.95%
- 1M
- -0.87%
- 6M
- 0.99%
- YTD
- 4.67%
- 1Y
- 10.22%
- 3Y*
- 10.98%
- 5Y*
- 5.65%
- 10Y*
- —
- ALL TIME*
- 9.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FOCIX vs. FMSDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FOCIX Fairholme Focused Income Fund | 9.97% | 6.17% | 14.67% | 12.58% | 6.00% | 6.73% | 0.99% | 7.44% | -5.24% |
FMSDX Fidelity Multi-Asset Income Fund | 4.67% | 14.10% | 9.95% | 11.75% | -13.67% | 17.27% | 14.56% | 23.14% | -0.91% |
Correlation
The correlation between FOCIX and FMSDX is -0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.00 |
Correlation (3Y) Balances recent behavior with more history. | 0.29 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.47 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2018 | 0.45 |
The correlation between FOCIX and FMSDX shifts across timeframes, from -0.00 (1 year) to 0.47 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FOCIX vs. FMSDX — Risk / Return Rank
FOCIX
FMSDX
FOCIX vs. FMSDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fairholme Focused Income Fund (FOCIX) and Fidelity Multi-Asset Income Fund (FMSDX). 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.
| FOCIX | FMSDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.18 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.87 | 1.77 | +2.10 |
| Martin ratioReturn relative to average drawdown | 10.81 | 4.76 | +6.05 |
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Drawdowns
FOCIX vs. FMSDX - Drawdown Comparison
The maximum FOCIX drawdown since its inception was -18.78%, smaller than the maximum FMSDX drawdown of -21.64%. Use the drawdown chart below to compare losses from any high point for FOCIX and FMSDX.
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Drawdown Indicators
| FOCIX | FMSDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.78% | -21.64% | +2.86% |
Max Drawdown (1Y)Largest decline over 1 year | -3.33% | -6.47% | +3.14% |
Max Drawdown (3Y)Largest decline over 3 years | -7.96% | -13.17% | +5.21% |
Max Drawdown (5Y)Largest decline over 5 years | -12.36% | -18.12% | +5.76% |
Max Drawdown (10Y)Largest decline over 10 years | -18.61% | — | — |
Current DrawdownCurrent decline from peak | -0.75% | -4.17% | +3.42% |
Average DrawdownAverage peak-to-trough decline | -4.73% | -3.80% | -0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 2.40% | -1.21% |
Volatility
FOCIX vs. FMSDX - Volatility Comparison
The current volatility for Fairholme Focused Income Fund (FOCIX) is 3.19%, while Fidelity Multi-Asset Income Fund (FMSDX) has a volatility of 3.43%. This indicates that FOCIX experiences smaller price fluctuations and is considered to be less risky than FMSDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FOCIX | FMSDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 3.43% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 6.34% | 8.66% | -2.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.92% | 11.01% | -3.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.60% | 10.01% | -0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.13% | 10.66% | -1.53% |
FOCIX vs. FMSDX - Expense Ratio Comparison
FOCIX has a 1.00% expense ratio, which is higher than FMSDX's 0.83% expense ratio.
Dividends
FOCIX vs. FMSDX - Dividend Comparison
FOCIX's dividend yield for the trailing twelve months is around 1.14%, less than FMSDX's 3.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMSDX Fidelity Multi-Asset Income Fund | 3.49% | 3.81% | 3.84% | 4.23% | 3.74% | 2.81% | 1.79% | 2.82% | 4.36% | 0.00% | 0.00% | 0.00% |
FOCIX Fairholme Focused Income Fund | 1.14% | 1.31% | 2.46% | 2.82% | 2.24% | 1.12% | 0.65% | 2.75% | 4.57% | 9.83% | 5.16% | 5.51% |
Frequently Asked Questions
FOCIX and FMSDX have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMSDX has higher volatility (3.43%) compared to FOCIX (3.19%). In terms of maximum drawdown, FOCIX dropped -18.78% vs FMSDX's -21.64%.
FOCIX currently has the higher Sharpe Ratio (1.63 vs 1.04), 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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