FSIAX vs. FXNAX
FSIAX (Fidelity Advisor Strategic Income Fund Class M) and FXNAX (Fidelity U.S. Bond Index Fund) are both Total Bond Market funds from Fidelity. Over the past 10 years, FSIAX returned 3.60%/yr vs 1.25%/yr for FXNAX. Their 0.56 correlation means they have sometimes moved together and sometimes differently. FSIAX charges 0.96%/yr vs 0.03%/yr for FXNAX.
Performance
FSIAX vs. FXNAX - Performance Comparison
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Returns By Period
In the year-to-date period, FSIAX achieves a 1.61% return, which is significantly higher than FXNAX's -0.63% return. Over the past 10 years, FSIAX has outperformed FXNAX with an annualized return of 3.60%, while FXNAX has yielded a comparatively lower 1.25% annualized return.
FSIAX
- 1D
- 0.25%
- 1M
- -1.33%
- 6M
- 0.88%
- YTD
- 1.61%
- 1Y
- 5.16%
- 3Y*
- 6.42%
- 5Y*
- 2.17%
- 10Y*
- 3.60%
- ALL TIME*
- 6.26%
FXNAX
- 1D
- 0.10%
- 1M
- -1.25%
- 6M
- -0.85%
- YTD
- -0.63%
- 1Y
- 1.77%
- 3Y*
- 3.69%
- 5Y*
- -0.49%
- 10Y*
- 1.25%
- ALL TIME*
- 1.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FSIAX vs. FXNAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSIAX Fidelity Advisor Strategic Income Fund Class M | 1.61% | 8.59% | 5.03% | 8.83% | -12.06% | 3.22% | 7.30% | 10.76% | -2.93% | 7.54% |
FXNAX Fidelity U.S. Bond Index Fund | -0.63% | 7.14% | 1.35% | 5.82% | -13.55% | -2.10% | 7.63% | 8.50% | 0.04% | 3.50% |
Correlation
The correlation between FSIAX and FXNAX is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.65 |
Correlation (All Time) Calculated using the full available price history since May 4, 2011 | 0.56 |
The correlation between FSIAX and FXNAX shifts across timeframes, from 0.56 (all time) to 0.79 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FSIAX vs. FXNAX — Risk / Return Rank
FSIAX
FXNAX
FSIAX vs. FXNAX - 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 U.S. Bond Index Fund (FXNAX). 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 | FXNAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.14 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 1.01 | +1.10 |
| Martin ratioReturn relative to average drawdown | 7.93 | 2.55 | +5.38 |
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Drawdowns
FSIAX vs. FXNAX - Drawdown Comparison
The maximum FSIAX drawdown since its inception was -17.81%, smaller than the maximum FXNAX drawdown of -19.51%. Use the drawdown chart below to compare losses from any high point for FSIAX and FXNAX.
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Drawdown Indicators
| FSIAX | FXNAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.81% | -19.51% | +1.70% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -2.94% | +0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -3.72% | -5.11% | +1.39% |
Max Drawdown (5Y)Largest decline over 5 years | -16.19% | -18.54% | +2.35% |
Max Drawdown (10Y)Largest decline over 10 years | -16.19% | -19.51% | +3.32% |
Current DrawdownCurrent decline from peak | -1.82% | -3.89% | +2.07% |
Average DrawdownAverage peak-to-trough decline | -1.83% | -3.86% | +2.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.70% | 1.17% | -0.47% |
Volatility
FSIAX vs. FXNAX - Volatility Comparison
Fidelity Advisor Strategic Income Fund Class M (FSIAX) and Fidelity U.S. Bond Index Fund (FXNAX) have volatilities of 1.00% and 0.99%, 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 | FXNAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 0.99% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.28% | 3.02% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.77% | 3.85% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.56% | 6.07% | -1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.45% | 5.01% | -0.56% |
FSIAX vs. FXNAX - Expense Ratio Comparison
FSIAX has a 0.96% expense ratio, which is higher than FXNAX's 0.03% expense ratio.
Dividends
FSIAX vs. FXNAX - Dividend Comparison
FSIAX's dividend yield for the trailing twelve months is around 3.78%, more than FXNAX's 3.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSIAX Fidelity Advisor Strategic Income Fund Class M | 3.78% | 4.06% | 3.21% | 3.71% | 2.71% | 4.01% | 4.32% | 4.07% | 3.51% | 3.70% | 3.49% | 3.18% |
FXNAX Fidelity U.S. Bond Index Fund | 3.46% | 3.58% | 3.40% | 3.15% | 1.81% | 1.74% | 2.92% | 2.68% | 2.74% | 2.57% | 2.76% | 2.52% |
Frequently Asked Questions
FSIAX and FXNAX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSIAX has higher volatility (1.00%) compared to FXNAX (0.99%). In terms of maximum drawdown, FSIAX dropped -17.81% vs FXNAX's -19.51%.
FSIAX currently has the higher Sharpe Ratio (1.48 vs 0.78), 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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