FSIAX vs. FADMX
FSIAX (Fidelity Advisor Strategic Income Fund Class M) and FADMX (Fidelity Strategic Income Fund) are both Total Bond Market funds from Fidelity. Over the past 5 years, FSIAX returned 2.73%/yr vs 3.23%/yr for FADMX. With a 0.96 correlation, they move nearly in lockstep. FSIAX charges 0.96%/yr vs 0.66%/yr for FADMX.
Performance
FSIAX vs. FADMX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FSIAX having a 3.28% return and FADMX slightly higher at 3.37%.
FSIAX
- 1D
- -0.08%
- 1M
- 1.24%
- YTD
- 3.28%
- 6M
- 3.57%
- 1Y
- 8.93%
- 3Y*
- 7.49%
- 5Y*
- 2.73%
- 10Y*
- 4.08%
FADMX
- 1D
- -0.08%
- 1M
- 1.34%
- YTD
- 3.37%
- 6M
- 3.78%
- 1Y
- 9.26%
- 3Y*
- 8.21%
- 5Y*
- 3.23%
- 10Y*
- —
FSIAX vs. FADMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FSIAX Fidelity Advisor Strategic Income Fund Class M | 3.28% | 8.59% | 5.03% | 8.83% | -12.06% | 3.22% | 7.30% | 10.76% | -2.11% |
FADMX Fidelity Strategic Income Fund | 3.37% | 9.01% | 6.02% | 9.55% | -11.84% | 3.46% | 6.72% | 11.06% | -2.02% |
Correlation
The correlation between FSIAX and FADMX 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 | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2018 | 0.96 |
The correlation between FSIAX and FADMX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
FSIAX vs. FADMX — Risk / Return Rank
FSIAX
FADMX
FSIAX vs. FADMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Strategic Income Fund Class M (FSIAX) and Fidelity Strategic Income Fund (FADMX). 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.
| FSIAX | FADMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.55 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 3.66 | -0.18 |
| Martin ratioReturn relative to average drawdown | 14.83 | 15.86 | -1.03 |
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Drawdowns
FSIAX vs. FADMX - Drawdown Comparison
The maximum FSIAX drawdown since its inception was -17.81%, which is greater than FADMX's maximum drawdown of -15.98%. Use the drawdown chart below to compare losses from any high point for FSIAX and FADMX.
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Drawdown Indicators
| FSIAX | FADMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.81% | -15.98% | -1.83% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -2.62% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -4.13% | -3.99% | -0.14% |
Max Drawdown (5Y)Largest decline over 5 years | -16.19% | -15.98% | -0.21% |
Max Drawdown (10Y)Largest decline over 10 years | -16.19% | — | — |
Current DrawdownCurrent decline from peak | -0.08% | -0.08% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -1.83% | -3.05% | +1.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 0.60% | +0.02% |
Volatility
FSIAX vs. FADMX - Volatility Comparison
Fidelity Advisor Strategic Income Fund Class M (FSIAX) and Fidelity Strategic Income Fund (FADMX) have volatilities of 1.36% and 1.35%, 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.
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Volatility by Period
| FSIAX | FADMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 1.35% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.12% | 3.06% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.69% | 3.64% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.54% | 4.54% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.46% | 4.77% | -0.31% |
FSIAX vs. FADMX - Expense Ratio Comparison
FSIAX has a 0.96% expense ratio, which is higher than FADMX's 0.66% expense ratio.
Dividends
FSIAX vs. FADMX - Dividend Comparison
FSIAX's dividend yield for the trailing twelve months is around 4.01%, less than FADMX's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FADMX Fidelity Strategic Income Fund | 4.28% | 4.33% | 4.16% | 4.31% | 2.91% | 4.23% | 3.82% | 4.34% | 2.74% | 0.00% | 0.00% | 0.00% |
FSIAX Fidelity Advisor Strategic Income Fund Class M | 4.01% | 4.06% | 3.21% | 3.71% | 2.71% | 4.01% | 4.32% | 4.07% | 3.51% | 3.70% | 3.49% | 3.18% |
Frequently Asked Questions
With a correlation of 0.97, FSIAX and FADMX 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.
FSIAX has higher volatility (1.36%) compared to FADMX (1.35%). In terms of maximum drawdown, FSIAX dropped -17.81% vs FADMX's -15.98%.
FADMX currently has the higher Sharpe Ratio (2.63 vs 2.52), 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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