FSIRX vs. VBAIX

Last updated Jun 5, 2026

FSIRX (Fidelity Advisor Strategic Real Return Fund Class I) and VBAIX (Vanguard Balanced Index Fund Institutional Shares) are both Diversified Portfolio funds. Over the past 10 years, FSIRX returned 5.75%/yr vs 10.09%/yr for VBAIX. A 0.56 correlation means they provide meaningful diversification when combined. FSIRX charges 0.70%/yr vs 0.06%/yr for VBAIX.

Performance

FSIRX vs. VBAIX - 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 Vanguard Balanced Index Fund Institutional Shares (VBAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSIRX achieves a 8.63% return, which is significantly higher than VBAIX's 6.81% return. Over the past 10 years, FSIRX has underperformed VBAIX with an annualized return of 5.75%, while VBAIX has yielded a comparatively higher 10.09% annualized return.

FSIRX

• 1D: -0.10%
• 1M: -0.21%
• YTD: 8.63%
• 6M: 8.87%
• 1Y: 16.32%
• 3Y*: 10.11%
• 5Y*: 6.22%
• 10Y*: 5.75%

VBAIX

• 1D: -0.55%
• 1M: 2.54%
• YTD: 6.81%
• 6M: 6.68%
• 1Y: 18.46%
• 3Y*: 15.90%
• 5Y*: 8.35%
• 10Y*: 10.09%

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

FSIRX vs. VBAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSIRX Fidelity Advisor Strategic Real Return Fund Class I	8.63%	10.38%	5.83%	4.58%	-3.34%	15.89%	3.72%	10.55%	-3.99%	4.10%
VBAIX Vanguard Balanced Index Fund Institutional Shares	6.81%	13.60%	17.78%	17.55%	-16.87%	14.20%	16.40%	21.79%	-2.83%	13.86%

Correlation

The correlation between FSIRX and VBAIX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.56
Correlation (All Time) Calculated using the full available price history since Sep 12, 2005	0.56

Over the past year, the correlation between FSIRX and VBAIX has dropped to 0.29 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.

Return for Risk

FSIRX vs. VBAIX — Risk / Return Rank

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

FSIRX

FSIRX Risk / Return Rank: 96
FSIRX Sharpe Ratio Rank: 96
FSIRX Sortino Ratio Rank: 94
FSIRX Omega Ratio Rank: 92
FSIRX Calmar Ratio Rank: 98
FSIRX Martin Ratio Rank: 98

VBAIX

VBAIX Risk / Return Rank: 68
VBAIX Sharpe Ratio Rank: 65
VBAIX Sortino Ratio Rank: 66
VBAIX Omega Ratio Rank: 62
VBAIX Calmar Ratio Rank: 70
VBAIX Martin Ratio Rank: 79

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.

FSIRX vs. VBAIX - 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 Vanguard Balanced Index Fund Institutional Shares (VBAIX). 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.

	FSIRX	VBAIX	Difference
Sharpe ratio: Return per unit of total volatility	3.52	2.38	+1.14
Sortino ratio: Return per unit of downside risk	4.92	3.40	+1.52
Omega ratio: Gain probability vs. loss probability	1.70	1.44	+0.26
Calmar ratio: Return relative to maximum drawdown	8.11	3.23	+4.89
Martin ratio: Return relative to average drawdown	31.78	14.74	+17.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSIRX vs. VBAIX - Sharpe Ratio Comparison

The current FSIRX Sharpe Ratio is 3.52, which is higher than the VBAIX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of FSIRX and VBAIX, 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

	FSIRX	VBAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.52	2.38	+1.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	0.76	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	0.90	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.66	-0.05

Drawdowns

FSIRX vs. VBAIX - Drawdown Comparison

The maximum FSIRX drawdown since its inception was -33.39%, smaller than the maximum VBAIX drawdown of -35.82%. Use the drawdown chart below to compare losses from any high point for FSIRX and VBAIX.

Drawdown Indicators

	FSIRX	VBAIX	Difference
Max Drawdown Largest peak-to-trough decline	-33.39%	-35.82%	+2.43%
Max Drawdown (1Y) Largest decline over 1 year	-2.05%	-5.84%	+3.79%
Max Drawdown (3Y) Largest decline over 3 years	-5.81%	-11.57%	+5.76%
Max Drawdown (5Y) Largest decline over 5 years	-12.82%	-21.52%	+8.70%
Max Drawdown (10Y) Largest decline over 10 years	-19.98%	-22.77%	+2.79%
Current Drawdown Current decline from peak	-0.83%	-0.55%	-0.28%
Average Drawdown Average peak-to-trough decline	-4.17%	-4.42%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	1.27%	-0.75%

Volatility

FSIRX vs. VBAIX - Volatility Comparison

The current volatility for Fidelity Advisor Strategic Real Return Fund Class I (FSIRX) is 1.31%, while Vanguard Balanced Index Fund Institutional Shares (VBAIX) has a volatility of 2.31%. This indicates that FSIRX experiences smaller price fluctuations and is considered to be less risky than VBAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSIRX	VBAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	2.31%	-1.00%
Volatility (6M) Calculated over the trailing 6-month period	3.77%	6.12%	-2.35%
Volatility (1Y) Calculated over the trailing 1-year period	4.74%	7.92%	-3.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.92%	11.10%	-4.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.74%	11.23%	-4.49%

FSIRX vs. VBAIX - Expense Ratio Comparison

FSIRX has a 0.70% expense ratio, which is higher than VBAIX's 0.06% expense ratio.

Dividends

FSIRX vs. VBAIX - Dividend Comparison

FSIRX's dividend yield for the trailing twelve months is around 4.19%, less than VBAIX's 5.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSIRX Fidelity Advisor Strategic Real Return Fund Class I	4.19%	4.72%	4.80%	5.28%	7.33%	5.37%	2.23%	3.09%	9.42%	2.63%	2.37%	1.75%
VBAIX Vanguard Balanced Index Fund Institutional Shares	5.25%	6.01%	8.01%	4.36%	2.84%	3.20%	2.65%	2.29%	2.33%	1.96%	2.10%	2.10%

Frequently Asked Questions

Can I hold both FSIRX and VBAIX in my portfolio?

FSIRX and VBAIX have a correlation of 0.29, 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 VBAIX?

VBAIX has higher volatility (2.31%) compared to FSIRX (1.31%). In terms of maximum drawdown, FSIRX dropped -33.39% vs VBAIX's -35.82%.

Which has better risk-adjusted returns?

FSIRX currently has the higher Sharpe Ratio (3.52 vs 2.38), 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.