FSIAX vs. FFFFX
FSIAX (Fidelity Advisor Strategic Income Fund Class M) and FFFFX (Fidelity Freedom 2040 Fund) are both mutual funds - FSIAX is a Total Bond Market fund managed by Fidelity, while FFFFX is a Target Retirement Date fund actively managed by Fidelity. Over the past 10 years, FSIAX returned 4.02%/yr vs 12.17%/yr for FFFFX. At a 0.35 correlation, their price movements are largely independent. FSIAX charges 0.96%/yr vs 0.66%/yr for FFFFX.
Performance
FSIAX vs. FFFFX - Performance Comparison
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Returns By Period
In the year-to-date period, FSIAX achieves a 3.36% return, which is significantly lower than FFFFX's 13.06% return. Over the past 10 years, FSIAX has underperformed FFFFX with an annualized return of 4.02%, while FFFFX has yielded a comparatively higher 12.17% annualized return.
FSIAX
- 1D
- 0.33%
- 1M
- 1.33%
- YTD
- 3.36%
- 6M
- 3.74%
- 1Y
- 9.31%
- 3Y*
- 7.43%
- 5Y*
- 2.76%
- 10Y*
- 4.02%
FFFFX
- 1D
- 1.32%
- 1M
- 2.97%
- YTD
- 13.06%
- 6M
- 13.11%
- 1Y
- 28.87%
- 3Y*
- 18.50%
- 5Y*
- 10.01%
- 10Y*
- 12.17%
FSIAX vs. FFFFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSIAX Fidelity Advisor Strategic Income Fund Class M | 3.36% | 8.59% | 5.03% | 8.83% | -12.06% | 3.22% | 7.30% | 10.76% | -2.93% | 7.54% |
FFFFX Fidelity Freedom 2040 Fund | 13.06% | 22.01% | 13.20% | 20.06% | -18.31% | 16.57% | 18.24% | 25.38% | -8.94% | 22.26% |
Correlation
The correlation between FSIAX and FFFFX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2000 | 0.35 |
Over the past year, FSIAX and FFFFX have become more correlated (0.76) than their long-term average of 0.35, meaning their price movements have been converging.
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Return for Risk
FSIAX vs. FFFFX — Risk / Return Rank
FSIAX
FFFFX
FSIAX vs. FFFFX - 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 Freedom 2040 Fund (FFFFX). 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 | FFFFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.44 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 3.29 | +0.19 |
| Martin ratioReturn relative to average drawdown | 14.82 | 14.24 | +0.58 |
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Drawdowns
FSIAX vs. FFFFX - Drawdown Comparison
The maximum FSIAX drawdown since its inception was -17.81%, smaller than the maximum FFFFX drawdown of -54.10%. Use the drawdown chart below to compare losses from any high point for FSIAX and FFFFX.
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Drawdown Indicators
| FSIAX | FFFFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.81% | -54.10% | +36.29% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -8.71% | +6.05% |
Max Drawdown (3Y)Largest decline over 3 years | -4.13% | -14.08% | +9.95% |
Max Drawdown (5Y)Largest decline over 5 years | -16.19% | -27.21% | +11.02% |
Max Drawdown (10Y)Largest decline over 10 years | -16.19% | -30.93% | +14.74% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -1.83% | -11.12% | +9.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 2.01% | -1.39% |
Volatility
FSIAX vs. FFFFX - Volatility Comparison
The current volatility for Fidelity Advisor Strategic Income Fund Class M (FSIAX) is 1.42%, while Fidelity Freedom 2040 Fund (FFFFX) has a volatility of 5.13%. This indicates that FSIAX experiences smaller price fluctuations and is considered to be less risky than FFFFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSIAX | FFFFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 5.13% | -3.71% |
Volatility (6M)Calculated over the trailing 6-month period | 3.14% | 10.39% | -7.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.68% | 12.22% | -8.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.53% | 14.50% | -9.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.46% | 15.12% | -10.66% |
FSIAX vs. FFFFX - Expense Ratio Comparison
FSIAX has a 0.96% expense ratio, which is higher than FFFFX's 0.66% expense ratio.
Dividends
FSIAX vs. FFFFX - Dividend Comparison
FSIAX's dividend yield for the trailing twelve months is around 4.00%, less than FFFFX's 6.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFFFX Fidelity Freedom 2040 Fund | 6.30% | 5.07% | 2.63% | 1.72% | 12.33% | 12.09% | 5.67% | 6.69% | 7.97% | 4.37% | 4.05% | 4.81% |
FSIAX Fidelity Advisor Strategic Income Fund Class M | 4.00% | 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
FSIAX and FFFFX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FFFFX has higher volatility (5.13%) compared to FSIAX (1.42%). In terms of maximum drawdown, FSIAX dropped -17.81% vs FFFFX's -54.10%.
FSIAX currently has the higher Sharpe Ratio (2.51 vs 2.35), 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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