FSIRX vs. ACV

Last updated Aug 1, 2026

FSIRX (Fidelity Advisor Strategic Real Return Fund Class I) and ACV (Virtus Diversified Income & Convertible Fund) are both Diversified Portfolio funds. Over the past 10 years, FSIRX returned 5.47%/yr vs 15.77%/yr for ACV. Their 0.41 correlation means their historical movements had little consistent relationship. FSIRX charges 0.70%/yr vs 2.69%/yr for ACV.

Performance

FSIRX vs. ACV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Strategic Real Return Fund Class I (FSIRX) and Virtus Diversified Income & Convertible Fund (ACV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSIRX achieves a 7.04% return, which is significantly higher than ACV's 6.59% return. Over the past 10 years, FSIRX has underperformed ACV with an annualized return of 5.47%, while ACV has yielded a comparatively higher 15.77% annualized return.

FSIRX

• 1D: 0.00%
• 1M: 0.75%
• 6M: 3.41%
• YTD: 7.04%
• 1Y: 13.22%
• 3Y*: 8.16%
• 5Y*: 5.54%
• 10Y*: 5.47%
• ALL TIME*: 4.08%

ACV

• 1D: 0.34%
• 1M: -3.99%
• 6M: -0.18%
• YTD: 6.59%
• 1Y: 32.05%
• 3Y*: 20.43%
• 5Y*: 8.76%
• 10Y*: 15.77%
• ALL TIME*: 12.30%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ACV Virtus Diversified Income & Convertible Fund	$695.16K	$621.52K	$614.41K
FSIRX Fidelity Advisor Strategic Real Return Fund Class I	$0.00	$0.00	$0.00

FSIRX vs. ACV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSIRX Fidelity Advisor Strategic Real Return Fund Class I	7.04%	10.38%	5.83%	4.58%	-3.34%	15.89%	3.72%	10.55%	-3.99%	4.10%
ACV Virtus Diversified Income & Convertible Fund	6.59%	33.70%	15.39%	25.96%	-35.98%	24.45%	45.80%	44.15%	-7.01%	27.95%

Correlation

The correlation between FSIRX and ACV is 0.22, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.22
Correlation (3Y) Balances recent behavior with more history.	0.34
Correlation (5Y) Shows whether the relationship held over a longer period.	0.41
Correlation (10Y) Provides a long-term view across more market conditions.	0.40
Correlation (All Time) Calculated using the full available price history since May 22, 2015	0.41

The correlation between FSIRX and ACV shifts across timeframes, from 0.22 (1 year) to 0.41 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FSIRX vs. ACV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FSIRX

FSIRX Risk / Return Rank: 91
FSIRX Sharpe Ratio Rank: 95
FSIRX Sortino Ratio Rank: 91
FSIRX Omega Ratio Rank: 90
FSIRX Calmar Ratio Rank: 92
FSIRX Martin Ratio Rank: 88

ACV

ACV Risk / Return Rank: 64
ACV Sharpe Ratio Rank: 71
ACV Sortino Ratio Rank: 64
ACV Omega Ratio Rank: 67
ACV Calmar Ratio Rank: 61
ACV Martin Ratio Rank: 58

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FSIRX vs. ACV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Strategic Real Return Fund Class I (FSIRX) and Virtus Diversified Income & Convertible Fund (ACV). 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.

	FSIRX	ACV	Difference
Sharpe ratio: Return per unit of total volatility	2.54	1.66	+0.88
Sortino ratio: Return per unit of downside risk	3.46	2.21	+1.25
Omega ratio: Gain probability vs. loss probability	1.49	1.29	+0.19
Calmar ratio: Return relative to maximum drawdown	3.61	2.05	+1.56
Martin ratio: Return relative to average drawdown	11.63	7.55	+4.08

FSIRX vs. ACV - Sharpe Ratio Comparison

The current FSIRX Sharpe Ratio is 2.54, which is higher than the ACV Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of FSIRX and ACV, 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

FSIRX vs. ACV - Drawdown Comparison

The maximum FSIRX drawdown since its inception was -33.39%, smaller than the maximum ACV drawdown of -53.64%. Use the drawdown chart below to compare losses from any high point for FSIRX and ACV.

Drawdown Indicators

	FSIRX	ACV	Difference
Max Drawdown Largest peak-to-trough decline	-33.39%	-53.64%	+20.25%
Max Drawdown (1Y) Largest decline over 1 year	-3.53%	-14.81%	+11.28%
Max Drawdown (3Y) Largest decline over 3 years	-5.81%	-23.46%	+17.65%
Max Drawdown (5Y) Largest decline over 5 years	-12.82%	-48.80%	+35.98%
Max Drawdown (10Y) Largest decline over 10 years	-19.98%	-53.64%	+33.66%
Current Drawdown Current decline from peak	-2.28%	-5.24%	+2.96%
Average Drawdown Average peak-to-trough decline	-4.15%	-14.69%	+10.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	4.01%	-2.92%

Volatility

FSIRX vs. ACV - Volatility Comparison

The current volatility for Fidelity Advisor Strategic Real Return Fund Class I (FSIRX) is 1.75%, while Virtus Diversified Income & Convertible Fund (ACV) has a volatility of 5.63%. This indicates that FSIRX experiences smaller price fluctuations and is considered to be less risky than ACV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSIRX	ACV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.75%	5.63%	-3.88%
Volatility (6M) Calculated over the trailing 6-month period	3.98%	15.43%	-11.45%
Volatility (1Y) Calculated over the trailing 1-year period	5.07%	18.24%	-13.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.93%	23.64%	-16.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.75%	25.89%	-19.14%

FSIRX vs. ACV - Expense Ratio Comparison

FSIRX has a 0.70% expense ratio, which is lower than ACV's 2.69% expense ratio.

Dividends

FSIRX vs. ACV - Dividend Comparison

FSIRX's dividend yield for the trailing twelve months is around 3.23%, less than ACV's 9.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACV Virtus Diversified Income & Convertible Fund	9.51%	9.68%	9.84%	10.30%	12.69%	24.19%	7.28%	8.15%	10.76%	9.18%	10.67%	5.52%
FSIRX Fidelity Advisor Strategic Real Return Fund Class I	3.23%	4.72%	4.80%	5.28%	7.33%	5.37%	2.23%	3.09%	9.42%	2.63%	2.37%	1.75%

Frequently Asked Questions

Can I hold both FSIRX and ACV in my portfolio?

FSIRX and ACV have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSIRX or ACV?

ACV has higher volatility (5.63%) compared to FSIRX (1.75%). In terms of maximum drawdown, FSIRX dropped -33.39% vs ACV's -53.64%.

Which has better risk-adjusted returns?

FSIRX currently has the higher Sharpe Ratio (2.54 vs 1.66), 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.