FSRCX vs. FYBTX

Last updated Aug 1, 2026

FSRCX (Fidelity Advisor Strategic Income Fund Class C) and FYBTX (Fidelity Series Short-Term Credit Fund) are both Total Bond Market funds from Fidelity. Over the past 10 years, FSRCX returned 2.89%/yr vs 2.53%/yr for FYBTX. Their 0.52 correlation means they have sometimes moved together and sometimes differently. FSRCX charges 1.72%/yr vs 0.00%/yr for FYBTX.

Performance

FSRCX vs. FYBTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Strategic Income Fund Class C (FSRCX) and Fidelity Series Short-Term Credit Fund (FYBTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSRCX achieves a 1.23% return, which is significantly higher than FYBTX's 0.97% return. Over the past 10 years, FSRCX has outperformed FYBTX with an annualized return of 2.89%, while FYBTX has yielded a comparatively lower 2.53% annualized return.

FSRCX

• 1D: 0.34%
• 1M: -1.25%
• 6M: 0.65%
• YTD: 1.23%
• 1Y: 4.45%
• 3Y*: 5.72%
• 5Y*: 1.50%
• 10Y*: 2.89%
• ALL TIME*: 4.71%

FYBTX

• 1D: 0.00%
• 1M: -0.20%
• 6M: 0.60%
• YTD: 0.97%
• 1Y: 3.09%
• 3Y*: 5.08%
• 5Y*: 2.70%
• 10Y*: 2.53%
• ALL TIME*: 2.57%

*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)
FSRCX Fidelity Advisor Strategic Income Fund Class C	$0.00	$0.00	$0.00
FYBTX Fidelity Series Short-Term Credit Fund	$0.00	$0.00	$0.00

FSRCX vs. FYBTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSRCX Fidelity Advisor Strategic Income Fund Class C	1.23%	7.88%	4.38%	7.98%	-12.53%	2.56%	6.41%	9.95%	-3.81%	7.01%
FYBTX Fidelity Series Short-Term Credit Fund	0.97%	5.72%	5.13%	6.08%	-3.50%	-0.54%	3.99%	5.07%	1.66%	1.50%

Correlation

The correlation between FSRCX and FYBTX is 0.52, 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.	0.52
Correlation (3Y) Balances recent behavior with more history.	0.62
Correlation (5Y) Shows whether the relationship held over a longer period.	0.65
Correlation (10Y) Provides a long-term view across more market conditions.	0.54
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.52

The correlation between FSRCX and FYBTX shifts across timeframes, from 0.52 (all time) to 0.65 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FSRCX vs. FYBTX — Risk / Return Rank

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

FSRCX

FSRCX Risk / Return Rank: 45
FSRCX Sharpe Ratio Rank: 44
FSRCX Sortino Ratio Rank: 43
FSRCX Omega Ratio Rank: 45
FSRCX Calmar Ratio Rank: 45
FSRCX Martin Ratio Rank: 48

FYBTX

FYBTX Risk / Return Rank: 90
FYBTX Sharpe Ratio Rank: 85
FYBTX Sortino Ratio Rank: 95
FYBTX Omega Ratio Rank: 93
FYBTX Calmar Ratio Rank: 89
FYBTX Martin Ratio Rank: 91

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.

FSRCX vs. FYBTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Strategic Income Fund Class C (FSRCX) and Fidelity Series Short-Term Credit Fund (FYBTX). 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.

	FSRCX	FYBTX	Difference
Sharpe ratio: Return per unit of total volatility	1.31	2.08	-0.77
Sortino ratio: Return per unit of downside risk	1.90	3.89	-1.99
Omega ratio: Gain probability vs. loss probability	1.25	1.53	-0.29
Calmar ratio: Return relative to maximum drawdown	1.84	3.28	-1.43
Martin ratio: Return relative to average drawdown	6.92	12.78	-5.86

FSRCX vs. FYBTX - Sharpe Ratio Comparison

The current FSRCX Sharpe Ratio is 1.31, which is lower than the FYBTX Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of FSRCX and FYBTX, 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

FSRCX vs. FYBTX - Drawdown Comparison

The maximum FSRCX drawdown since its inception was -18.16%, which is greater than FYBTX's maximum drawdown of -6.00%. Use the drawdown chart below to compare losses from any high point for FSRCX and FYBTX.

Drawdown Indicators

	FSRCX	FYBTX	Difference
Max Drawdown Largest peak-to-trough decline	-18.16%	-6.00%	-12.16%
Max Drawdown (1Y) Largest decline over 1 year	-2.66%	-1.19%	-1.47%
Max Drawdown (3Y) Largest decline over 3 years	-3.70%	-1.19%	-2.51%
Max Drawdown (5Y) Largest decline over 5 years	-16.69%	-6.00%	-10.69%
Max Drawdown (10Y) Largest decline over 10 years	-16.69%	-6.00%	-10.69%
Current Drawdown Current decline from peak	-1.74%	-0.30%	-1.44%
Average Drawdown Average peak-to-trough decline	-2.08%	-0.71%	-1.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.71%	0.30%	+0.41%

Volatility

FSRCX vs. FYBTX - Volatility Comparison

Fidelity Advisor Strategic Income Fund Class C (FSRCX) has a higher volatility of 1.00% compared to Fidelity Series Short-Term Credit Fund (FYBTX) at 0.41%. This indicates that FSRCX's price experiences larger fluctuations and is considered to be riskier than FYBTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSRCX	FYBTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.00%	0.41%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	3.22%	1.40%	+1.82%
Volatility (1Y) Calculated over the trailing 1-year period	3.75%	1.88%	+1.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.54%	2.20%	+2.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.41%	1.92%	+2.49%

FSRCX vs. FYBTX - Expense Ratio Comparison

FSRCX has a 1.72% expense ratio, which is higher than FYBTX's 0.00% expense ratio.

Dividends

FSRCX vs. FYBTX - Dividend Comparison

FSRCX's dividend yield for the trailing twelve months is around 3.09%, less than FYBTX's 4.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSRCX Fidelity Advisor Strategic Income Fund Class C	3.09%	3.32%	2.59%	3.03%	2.08%	3.36%	3.59%	3.33%	2.50%	3.20%	2.69%	2.46%
FYBTX Fidelity Series Short-Term Credit Fund	4.37%	4.66%	3.67%	2.76%	1.26%	1.65%	2.31%	2.72%	2.45%	1.59%	1.24%	0.00%

Frequently Asked Questions

Can I hold both FSRCX and FYBTX in my portfolio?

FSRCX and FYBTX 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, FSRCX or FYBTX?

FSRCX has higher volatility (1.00%) compared to FYBTX (0.41%). In terms of maximum drawdown, FSRCX dropped -18.16% vs FYBTX's -6.00%.

Which has better risk-adjusted returns?

FYBTX currently has the higher Sharpe Ratio (2.08 vs 1.31), 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.