FSMOX vs. PRCIX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity SAI Investment Grade Securitized Fund (FSMOX) and T. Rowe Price New Income Fund (PRCIX).

FSMOX is managed by Fidelity. It was launched on May 17, 2023. PRCIX is managed by T. Rowe Price. It was launched on Aug 31, 1973.

Performance

FSMOX vs. PRCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI Investment Grade Securitized Fund (FSMOX) and T. Rowe Price New Income Fund (PRCIX). The values are adjusted to include any dividend payments, if applicable.

FSMOX vs. PRCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FSMOX Fidelity SAI Investment Grade Securitized Fund	-0.05%	8.52%	1.45%	1.16%
PRCIX T. Rowe Price New Income Fund	-0.24%	10.79%	1.31%	2.14%

Returns By Period

In the year-to-date period, FSMOX achieves a -0.05% return, which is significantly higher than PRCIX's -0.24% return.

FSMOX

• 1D: 0.40%
• 1M: -2.17%
• YTD: -0.05%
• 6M: 1.49%
• 1Y: 5.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PRCIX

• 1D: 0.51%
• 1M: -2.46%
• YTD: -0.24%
• 6M: 2.00%
• 1Y: 7.55%
• 3Y*: 4.38%
• 5Y*: 0.50%
• 10Y*: 1.78%

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

FSMOX vs. PRCIX - Expense Ratio Comparison

FSMOX has a 0.33% expense ratio, which is lower than PRCIX's 0.44% expense ratio.

PRCIX

T. Rowe Price New Income Fund

FSMOX

Fidelity SAI Investment Grade Securitized Fund

Return for Risk

FSMOX vs. PRCIX — Risk / Return Rank

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

FSMOX

FSMOX Risk / Return Rank: 68
FSMOX Sharpe Ratio Rank: 70
FSMOX Sortino Ratio Rank: 71
FSMOX Omega Ratio Rank: 56
FSMOX Calmar Ratio Rank: 84
FSMOX Martin Ratio Rank: 61

PRCIX

PRCIX Risk / Return Rank: 89
PRCIX Sharpe Ratio Rank: 89
PRCIX Sortino Ratio Rank: 91
PRCIX Omega Ratio Rank: 82
PRCIX Calmar Ratio Rank: 93
PRCIX Martin Ratio Rank: 89

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.

FSMOX vs. PRCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Investment Grade Securitized Fund (FSMOX) and T. Rowe Price New Income Fund (PRCIX). 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.

	FSMOX	PRCIX	Difference
Sharpe ratio Return per unit of total volatility	1.25	1.80	-0.55
Sortino ratio Return per unit of downside risk	1.79	2.67	-0.87
Omega ratio Gain probability vs. loss probability	1.22	1.33	-0.10
Calmar ratio Return relative to maximum drawdown	2.08	2.96	-0.88
Martin ratio Return relative to average drawdown	5.84	9.93	-4.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSMOX vs. PRCIX - Sharpe Ratio Comparison

The current FSMOX Sharpe Ratio is 1.25, which is lower than the PRCIX Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of FSMOX and PRCIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FSMOX	PRCIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	1.80	-0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.08	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.79	-0.18

Correlation

The correlation between FSMOX and PRCIX is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FSMOX vs. PRCIX - Dividend Comparison

FSMOX's dividend yield for the trailing twelve months is around 4.08%, less than PRCIX's 8.24% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSMOX Fidelity SAI Investment Grade Securitized Fund	4.08%	4.44%	5.07%	1.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PRCIX T. Rowe Price New Income Fund	8.24%	7.79%	4.48%	4.37%	1.80%	2.65%	3.33%	2.88%	3.03%	2.66%	2.56%	2.55%

Drawdowns

FSMOX vs. PRCIX - Drawdown Comparison

The maximum FSMOX drawdown since its inception was -8.65%, smaller than the maximum PRCIX drawdown of -22.34%. Use the drawdown chart below to compare losses from any high point for FSMOX and PRCIX.

Drawdown Indicators

	FSMOX	PRCIX	Difference
Max Drawdown Largest peak-to-trough decline	-8.65%	-22.34%	+13.69%
Max Drawdown (1Y) Largest decline over 1 year	-2.96%	-2.96%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.65%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-19.65%	—
Current Drawdown Current decline from peak	-2.17%	-2.46%	+0.29%
Average Drawdown Average peak-to-trough decline	-1.78%	-4.43%	+2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	0.88%	+0.17%

Volatility

FSMOX vs. PRCIX - Volatility Comparison

The current volatility for Fidelity SAI Investment Grade Securitized Fund (FSMOX) is 1.54%, while T. Rowe Price New Income Fund (PRCIX) has a volatility of 1.67%. This indicates that FSMOX experiences smaller price fluctuations and is considered to be less risky than PRCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSMOX	PRCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.54%	1.67%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	2.62%	2.81%	-0.19%
Volatility (1Y) Calculated over the trailing 1-year period	4.63%	4.58%	+0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.30%	5.93%	+0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.30%	4.93%	+1.37%