FRIAX vs. FSRKX

Last updated Jun 23, 2026

FRIAX (Franklin Income Fund Advisor Class) and FSRKX (Fidelity Strategic Real Return Fund Class K6) are both Diversified Portfolio funds. Over the past 5 years, FRIAX returned 6.65%/yr vs 6.31%/yr for FSRKX. A 0.65 correlation means they provide meaningful diversification when combined. FRIAX charges 0.46%/yr vs 0.51%/yr for FSRKX.

Performance

FRIAX vs. FSRKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Income Fund Advisor Class (FRIAX) and Fidelity Strategic Real Return Fund Class K6 (FSRKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRIAX achieves a 4.88% return, which is significantly lower than FSRKX's 6.77% return.

FRIAX

• 1D: 0.00%
• 1M: -0.33%
• YTD: 4.88%
• 6M: 4.88%
• 1Y: 13.20%
• 3Y*: 9.73%
• 5Y*: 6.65%
• 10Y*: 7.50%

FSRKX

• 1D: -0.11%
• 1M: -1.66%
• YTD: 6.77%
• 6M: 6.89%
• 1Y: 12.82%
• 3Y*: 9.03%
• 5Y*: 6.31%
• 10Y*: —

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

FRIAX vs. FSRKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FRIAX Franklin Income Fund Advisor Class	4.88%	12.02%	7.29%	8.84%	-5.36%	17.51%	3.72%	4.49%
FSRKX Fidelity Strategic Real Return Fund Class K6	6.77%	10.59%	6.00%	4.81%	-3.13%	16.06%	3.94%	1.66%

Correlation

The correlation between FRIAX and FSRKX is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Oct 11, 2019	0.65

The correlation between FRIAX and FSRKX shifts across timeframes, from 0.50 (1 year) to 0.66 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FRIAX vs. FSRKX — Risk / Return Rank

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

FRIAX

FRIAX Risk / Return Rank: 89
FRIAX Sharpe Ratio Rank: 86
FRIAX Sortino Ratio Rank: 89
FRIAX Omega Ratio Rank: 88
FRIAX Calmar Ratio Rank: 90
FRIAX Martin Ratio Rank: 90

FSRKX

FSRKX Risk / Return Rank: 88
FSRKX Sharpe Ratio Rank: 87
FSRKX Sortino Ratio Rank: 84
FSRKX Omega Ratio Rank: 83
FSRKX Calmar Ratio Rank: 94
FSRKX Martin Ratio Rank: 95

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.

FRIAX vs. FSRKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Income Fund Advisor Class (FRIAX) and Fidelity Strategic Real Return Fund Class K6 (FSRKX). 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.

	FRIAX	FSRKX	Difference
Sharpe ratio: Return per unit of total volatility	2.61	2.63	-0.02
Sortino ratio: Return per unit of downside risk	4.00	3.66	+0.34
Omega ratio: Gain probability vs. loss probability	1.58	1.50	+0.08
Calmar ratio: Return relative to maximum drawdown	4.32	4.97	-0.64
Martin ratio: Return relative to average drawdown	16.41	19.90	-3.49

FRIAX vs. FSRKX - Sharpe Ratio Comparison

The current FRIAX Sharpe Ratio is 2.61, which is comparable to the FSRKX Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of FRIAX and FSRKX, 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

FRIAX vs. FSRKX - Drawdown Comparison

The maximum FRIAX drawdown since its inception was -43.23%, which is greater than FSRKX's maximum drawdown of -19.93%. Use the drawdown chart below to compare losses from any high point for FRIAX and FSRKX.

Drawdown Indicators

	FRIAX	FSRKX	Difference
Max Drawdown Largest peak-to-trough decline	-43.23%	-19.93%	-23.30%
Max Drawdown (1Y) Largest decline over 1 year	-3.06%	-2.57%	-0.49%
Max Drawdown (3Y) Largest decline over 3 years	-7.35%	-5.84%	-1.51%
Max Drawdown (5Y) Largest decline over 5 years	-13.63%	-12.74%	-0.89%
Max Drawdown (10Y) Largest decline over 10 years	-24.10%	—	—
Current Drawdown Current decline from peak	-0.79%	-2.57%	+1.78%
Average Drawdown Average peak-to-trough decline	-3.92%	-3.20%	-0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.81%	0.64%	+0.17%

Volatility

FRIAX vs. FSRKX - Volatility Comparison

Franklin Income Fund Advisor Class (FRIAX) and Fidelity Strategic Real Return Fund Class K6 (FSRKX) have volatilities of 1.32% and 1.32%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRIAX	FSRKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.32%	1.32%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	3.80%	3.78%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	5.08%	4.87%	+0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.96%	6.94%	+1.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.28%	7.78%	+1.50%

FRIAX vs. FSRKX - Expense Ratio Comparison

FRIAX has a 0.46% expense ratio, which is lower than FSRKX's 0.51% expense ratio.

Dividends

FRIAX vs. FSRKX - Dividend Comparison

FRIAX's dividend yield for the trailing twelve months is around 5.73%, more than FSRKX's 4.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRIAX Franklin Income Fund Advisor Class	5.73%	5.75%	5.74%	5.67%	5.24%	6.70%	5.37%	5.25%	5.80%	5.20%	4.92%	5.93%
FSRKX Fidelity Strategic Real Return Fund Class K6	4.33%	4.83%	4.98%	5.38%	7.38%	5.43%	2.31%	1.16%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FRIAX and FSRKX in my portfolio?

FRIAX and FSRKX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FRIAX or FSRKX?

FSRKX has higher volatility (1.32%) compared to FRIAX (1.32%). In terms of maximum drawdown, FRIAX dropped -43.23% vs FSRKX's -19.93%.

Which has better risk-adjusted returns?

FSRKX currently has the higher Sharpe Ratio (2.63 vs 2.61), 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.