FPCIX vs. FIWGX

Last updated Jun 4, 2026

FPCIX (Strategic Advisers Core Income Fund) and FIWGX (Strategic Advisers Fidelity Core Income Fund) are both mutual funds - FPCIX is a Total Bond Market fund managed by Fidelity, while FIWGX is a Intermediate Core-Plus Bond fund managed by Fidelity. Over the past 5 years, FPCIX returned 0.01%/yr vs 0.42%/yr for FIWGX. With a 0.96 correlation, they move nearly in lockstep. FPCIX charges 0.31%/yr vs 0.46%/yr for FIWGX.

Performance

FPCIX vs. FIWGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Strategic Advisers Core Income Fund (FPCIX) and Strategic Advisers Fidelity Core Income Fund (FIWGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FPCIX

• 1D: 0.11%
• 1M: 0.58%
• YTD: -0.00%
• 6M: -0.00%
• 1Y: 5.21%
• 3Y*: 4.12%
• 5Y*: 0.01%
• 10Y*: 2.04%

FIWGX

• 1D: 0.00%
• 1M: 0.45%
• YTD: 0.17%
• 6M: 0.06%
• 1Y: 4.97%
• 3Y*: 4.35%
• 5Y*: 0.42%
• 10Y*: —

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

FPCIX vs. FIWGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FPCIX Strategic Advisers Core Income Fund	-0.00%	7.42%	1.71%	5.98%	-14.76%	-0.81%	9.39%	9.20%	1.84%
FIWGX Strategic Advisers Fidelity Core Income Fund	0.17%	6.90%	2.14%	6.51%	-13.71%	-0.37%	10.21%	9.39%	1.28%

Correlation

The correlation between FPCIX and FIWGX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Oct 25, 2018	0.96

The correlation between FPCIX and FIWGX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

FPCIX vs. FIWGX — Risk / Return Rank

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

FPCIX

FPCIX Risk / Return Rank: 28
FPCIX Sharpe Ratio Rank: 26
FPCIX Sortino Ratio Rank: 28
FPCIX Omega Ratio Rank: 25
FPCIX Calmar Ratio Rank: 32
FPCIX Martin Ratio Rank: 28

FIWGX

FIWGX Risk / Return Rank: 30
FIWGX Sharpe Ratio Rank: 26
FIWGX Sortino Ratio Rank: 28
FIWGX Omega Ratio Rank: 24
FIWGX Calmar Ratio Rank: 40
FIWGX Martin Ratio Rank: 30

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.

FPCIX vs. FIWGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Strategic Advisers Core Income Fund (FPCIX) and Strategic Advisers Fidelity Core Income Fund (FIWGX). 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.

	FPCIX	FIWGX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.46	-0.01
Sortino ratio: Return per unit of downside risk	2.20	2.20	0.00
Omega ratio: Gain probability vs. loss probability	1.26	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	2.11	2.40	-0.28
Martin ratio: Return relative to average drawdown	6.61	7.11	-0.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FPCIX vs. FIWGX - Sharpe Ratio Comparison

The current FPCIX Sharpe Ratio is 1.46, which is comparable to the FIWGX Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of FPCIX and FIWGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FPCIX	FIWGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	1.46	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	0.07	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.50	+0.24

Drawdowns

FPCIX vs. FIWGX - Drawdown Comparison

The maximum FPCIX drawdown since its inception was -19.60%, which is greater than FIWGX's maximum drawdown of -18.42%. Use the drawdown chart below to compare losses from any high point for FPCIX and FIWGX.

Drawdown Indicators

	FPCIX	FIWGX	Difference
Max Drawdown Largest peak-to-trough decline	-19.60%	-18.42%	-1.18%
Max Drawdown (1Y) Largest decline over 1 year	-2.93%	-2.52%	-0.41%
Max Drawdown (3Y) Largest decline over 3 years	-6.51%	-6.24%	-0.27%
Max Drawdown (5Y) Largest decline over 5 years	-19.60%	-18.42%	-1.18%
Max Drawdown (10Y) Largest decline over 10 years	-19.60%	—	—
Current Drawdown Current decline from peak	-2.37%	-1.00%	-1.37%
Average Drawdown Average peak-to-trough decline	-3.23%	-5.03%	+1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	1.12%	+0.05%

Volatility

FPCIX vs. FIWGX - Volatility Comparison

Strategic Advisers Core Income Fund (FPCIX) has a higher volatility of 1.64% compared to Strategic Advisers Fidelity Core Income Fund (FIWGX) at 1.49%. This indicates that FPCIX's price experiences larger fluctuations and is considered to be riskier than FIWGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPCIX	FIWGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.64%	1.49%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	3.01%	2.85%	+0.16%
Volatility (1Y) Calculated over the trailing 1-year period	4.26%	4.13%	+0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.23%	6.10%	+0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.06%	5.51%	-0.45%

FPCIX vs. FIWGX - Expense Ratio Comparison

FPCIX has a 0.31% expense ratio, which is lower than FIWGX's 0.46% expense ratio.

Dividends

FPCIX vs. FIWGX - Dividend Comparison

FPCIX's dividend yield for the trailing twelve months is around 3.55%, more than FIWGX's 3.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIWGX Strategic Advisers Fidelity Core Income Fund	3.43%	3.68%	4.36%	3.79%	2.24%	1.77%	6.83%	4.30%	0.57%	0.00%	0.00%	0.00%
FPCIX Strategic Advisers Core Income Fund	3.55%	3.83%	4.17%	3.55%	2.69%	3.01%	4.99%	3.75%	2.94%	2.70%	4.13%	2.45%

Frequently Asked Questions

Can I hold both FPCIX and FIWGX in my portfolio?

With a correlation of 0.97, FPCIX and FIWGX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FPCIX or FIWGX?

FPCIX has higher volatility (1.64%) compared to FIWGX (1.49%). In terms of maximum drawdown, FPCIX dropped -19.60% vs FIWGX's -18.42%.

Which has better risk-adjusted returns?

FIWGX currently has the higher Sharpe Ratio (1.46 vs 1.46), 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.