FSIAX vs. VBR

Last updated Jun 3, 2026

FSIAX (Fidelity Advisor Strategic Income Fund Class M) and VBR (Vanguard Small-Cap Value ETF) are both funds - FSIAX is a Total Bond Market fund managed by Fidelity, while VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index. Over the past 10 years, FSIAX returned 4.01%/yr vs 10.58%/yr for VBR. At a 0.29 correlation, their price movements are largely independent. FSIAX charges 0.96%/yr vs 0.05%/yr for VBR.

Performance

FSIAX vs. VBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Strategic Income Fund Class M (FSIAX) and Vanguard Small-Cap Value ETF (VBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSIAX achieves a 3.11% return, which is significantly lower than VBR's 12.11% return. Over the past 10 years, FSIAX has underperformed VBR with an annualized return of 4.01%, while VBR has yielded a comparatively higher 10.58% annualized return.

FSIAX

• 1D: 0.08%
• 1M: 0.74%
• YTD: 3.11%
• 6M: 3.59%
• 1Y: 9.80%
• 3Y*: 7.50%
• 5Y*: 2.78%
• 10Y*: 4.01%

VBR

• 1D: 0.86%
• 1M: 1.86%
• YTD: 12.11%
• 6M: 13.63%
• 1Y: 27.83%
• 3Y*: 16.59%
• 5Y*: 8.08%
• 10Y*: 10.58%

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

FSIAX vs. VBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSIAX Fidelity Advisor Strategic Income Fund Class M	3.11%	8.59%	5.03%	8.83%	-12.06%	3.22%	7.30%	10.76%	-2.93%	7.54%
VBR Vanguard Small-Cap Value ETF	12.11%	9.09%	12.40%	16.00%	-9.38%	28.08%	5.90%	22.78%	-12.28%	11.81%

Correlation

The correlation between FSIAX and VBR is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.40
Correlation (All Time) Calculated using the full available price history since Feb 2, 2004	0.29

Over the past year, FSIAX and VBR have become more correlated (0.52) than their long-term average of 0.29, meaning their price movements have been converging.

Return for Risk

FSIAX vs. VBR — Risk / Return Rank

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

FSIAX

FSIAX Risk / Return Rank: 85
FSIAX Sharpe Ratio Rank: 85
FSIAX Sortino Ratio Rank: 88
FSIAX Omega Ratio Rank: 85
FSIAX Calmar Ratio Rank: 82
FSIAX Martin Ratio Rank: 85

VBR

VBR Risk / Return Rank: 56
VBR Sharpe Ratio Rank: 53
VBR Sortino Ratio Rank: 56
VBR Omega Ratio Rank: 51
VBR Calmar Ratio Rank: 62
VBR Martin Ratio Rank: 61

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.

FSIAX vs. VBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Strategic Income Fund Class M (FSIAX) and Vanguard Small-Cap Value ETF (VBR). 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.

	FSIAX	VBR	Difference
Sharpe ratio Return per unit of total volatility	2.75	1.84	+0.91
Sortino ratio Return per unit of downside risk	4.19	2.70	+1.49
Omega ratio Gain probability vs. loss probability	1.58	1.32	+0.26
Calmar ratio Return relative to maximum drawdown	3.78	3.10	+0.69
Martin ratio Return relative to average drawdown	16.34	10.94	+5.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSIAX vs. VBR - Sharpe Ratio Comparison

The current FSIAX Sharpe Ratio is 2.75, which is higher than the VBR Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of FSIAX and VBR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FSIAX	VBR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.75	1.84	+0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.41	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	0.49	+0.41
Sharpe Ratio (All Time) Calculated using the full available price history	1.55	0.42	+1.13

Drawdowns

FSIAX vs. VBR - Drawdown Comparison

The maximum FSIAX drawdown since its inception was -17.81%, smaller than the maximum VBR drawdown of -61.98%. Use the drawdown chart below to compare losses from any high point for FSIAX and VBR.

Drawdown Indicators

	FSIAX	VBR	Difference
Max Drawdown Largest peak-to-trough decline	-17.81%	-61.98%	+44.17%
Max Drawdown (1Y) Largest decline over 1 year	-2.66%	-8.85%	+6.19%
Max Drawdown (3Y) Largest decline over 3 years	-4.13%	-24.19%	+20.06%
Max Drawdown (5Y) Largest decline over 5 years	-16.19%	-24.19%	+8.00%
Max Drawdown (10Y) Largest decline over 10 years	-16.19%	-45.28%	+29.09%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.84%	-8.27%	+6.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	2.50%	-1.89%

Volatility

FSIAX vs. VBR - Volatility Comparison

The current volatility for Fidelity Advisor Strategic Income Fund Class M (FSIAX) is 1.41%, while Vanguard Small-Cap Value ETF (VBR) has a volatility of 4.07%. This indicates that FSIAX experiences smaller price fluctuations and is considered to be less risky than VBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSIAX	VBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	4.07%	-2.66%
Volatility (6M) Calculated over the trailing 6-month period	2.94%	10.46%	-7.52%
Volatility (1Y) Calculated over the trailing 1-year period	3.55%	15.17%	-11.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.51%	19.77%	-15.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.46%	21.74%	-17.28%

FSIAX vs. VBR - Expense Ratio Comparison

FSIAX has a 0.96% expense ratio, which is higher than VBR's 0.05% expense ratio.

Dividends

FSIAX vs. VBR - Dividend Comparison

FSIAX's dividend yield for the trailing twelve months is around 4.01%, more than VBR's 1.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VBR Vanguard Small-Cap Value ETF	1.75%	1.95%	1.98%	2.12%	2.03%	1.75%	1.68%	2.06%	2.35%	1.79%	1.77%	1.99%

Frequently Asked Questions

Can I hold both FSIAX and VBR in my portfolio?

FSIAX and VBR have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSIAX or VBR?

VBR has higher volatility (4.07%) compared to FSIAX (1.41%). In terms of maximum drawdown, FSIAX dropped -17.81% vs VBR's -61.98%.

Which has better risk-adjusted returns?

FSIAX currently has the higher Sharpe Ratio (2.75 vs 1.84), 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.