FPIOX vs. CPMPX
Compare and contrast key facts about Strategic Advisers Income Opportunities Fund (FPIOX) and Changing Parameters Fund (CPMPX).
FPIOX is managed by Fidelity. It was launched on Sep 27, 2007. CPMPX is managed by Changing Parameters. It was launched on Oct 2, 2006.
Performance
FPIOX vs. CPMPX - Performance Comparison
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FPIOX vs. CPMPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FPIOX Strategic Advisers Income Opportunities Fund | -2.22% | 8.47% | 7.89% | 11.85% | -11.84% | 5.35% | 5.64% | 14.77% | -3.53% | 8.21% |
CPMPX Changing Parameters Fund | 0.09% | 6.65% | -3.47% | 8.13% | -0.22% | 3.86% | 13.43% | 6.82% | -1.19% | 5.29% |
Returns By Period
In the year-to-date period, FPIOX achieves a -2.22% return, which is significantly lower than CPMPX's 0.09% return. Over the past 10 years, FPIOX has outperformed CPMPX with an annualized return of 5.31%, while CPMPX has yielded a comparatively lower 4.32% annualized return.
FPIOX
- 1D
- -0.34%
- 1M
- -2.44%
- YTD
- -2.22%
- 6M
- -1.31%
- 1Y
- 5.22%
- 3Y*
- 7.29%
- 5Y*
- 3.37%
- 10Y*
- 5.31%
CPMPX
- 1D
- 0.00%
- 1M
- -1.12%
- YTD
- 0.09%
- 6M
- 1.24%
- 1Y
- 6.34%
- 3Y*
- 3.14%
- 5Y*
- 2.65%
- 10Y*
- 4.32%
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FPIOX vs. CPMPX - Expense Ratio Comparison
FPIOX has a 0.49% expense ratio, which is lower than CPMPX's 2.90% expense ratio.
Return for Risk
FPIOX vs. CPMPX — Risk / Return Rank
FPIOX
CPMPX
FPIOX vs. CPMPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategic Advisers Income Opportunities Fund (FPIOX) and Changing Parameters Fund (CPMPX). 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.
| FPIOX | CPMPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.66 | 3.43 | -1.77 |
Sortino ratioReturn per unit of downside risk | 2.39 | 5.56 | -3.17 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.91 | -0.54 |
Calmar ratioReturn relative to maximum drawdown | 1.20 | 4.84 | -3.65 |
Martin ratioReturn relative to average drawdown | 5.01 | 19.28 | -14.27 |
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
| FPIOX | CPMPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.66 | 3.43 | -1.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 0.70 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.98 | 1.38 | -0.41 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.92 | 1.10 | -0.18 |
Correlation
The correlation between FPIOX and CPMPX is 0.52, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
FPIOX vs. CPMPX - Dividend Comparison
FPIOX's dividend yield for the trailing twelve months is around 3.99%, more than CPMPX's 3.82% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPIOX Strategic Advisers Income Opportunities Fund | 3.99% | 5.34% | 5.81% | 5.52% | 4.34% | 4.70% | 5.20% | 5.53% | 5.48% | 5.02% | 5.88% | 6.58% |
CPMPX Changing Parameters Fund | 3.82% | 3.83% | 0.00% | 4.26% | 5.03% | 4.24% | 6.94% | 2.85% | 1.71% | 3.32% | 2.25% | 1.51% |
Drawdowns
FPIOX vs. CPMPX - Drawdown Comparison
The maximum FPIOX drawdown since its inception was -36.95%, which is greater than CPMPX's maximum drawdown of -8.87%. Use the drawdown chart below to compare losses from any high point for FPIOX and CPMPX.
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Drawdown Indicators
| FPIOX | CPMPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.95% | -8.87% | -28.08% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -1.31% | -1.79% |
Max Drawdown (5Y)Largest decline over 5 years | -15.14% | -8.13% | -7.01% |
Max Drawdown (10Y)Largest decline over 10 years | -21.77% | -8.13% | -13.64% |
Current DrawdownCurrent decline from peak | -2.66% | -1.83% | -0.83% |
Average DrawdownAverage peak-to-trough decline | -3.68% | -1.87% | -1.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.33% | +0.61% |
Volatility
FPIOX vs. CPMPX - Volatility Comparison
Strategic Advisers Income Opportunities Fund (FPIOX) has a higher volatility of 1.11% compared to Changing Parameters Fund (CPMPX) at 0.78%. This indicates that FPIOX's price experiences larger fluctuations and is considered to be riskier than CPMPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPIOX | CPMPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.11% | 0.78% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 2.13% | 1.38% | +0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.00% | 1.90% | +2.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.03% | 3.83% | +1.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.52% | 3.13% | +2.39% |