FSRCX vs. PUCZX

Last updated Jun 4, 2026

FSRCX (Fidelity Advisor Strategic Income Fund Class C) and PUCZX (PGIM Strategic Bond Fund Class Z) are both Total Bond Market funds. Over the past 10 years, FSRCX returned 3.29%/yr vs 4.32%/yr for PUCZX. A 0.76 correlation means they provide meaningful diversification when combined. FSRCX charges 1.72%/yr vs 0.62%/yr for PUCZX.

Performance

FSRCX vs. PUCZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Strategic Income Fund Class C (FSRCX) and PGIM Strategic Bond Fund Class Z (PUCZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSRCX achieves a 2.88% return, which is significantly higher than PUCZX's 0.95% return. Over the past 10 years, FSRCX has underperformed PUCZX with an annualized return of 3.29%, while PUCZX has yielded a comparatively higher 4.32% annualized return.

FSRCX

• 1D: 0.17%
• 1M: 1.10%
• YTD: 2.88%
• 6M: 3.20%
• 1Y: 8.79%
• 3Y*: 6.80%
• 5Y*: 2.14%
• 10Y*: 3.29%

PUCZX

• 1D: 0.12%
• 1M: 0.55%
• YTD: 0.95%
• 6M: 1.15%
• 1Y: 6.89%
• 3Y*: 7.33%
• 5Y*: 1.92%
• 10Y*: 4.32%

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

FSRCX vs. PUCZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSRCX Fidelity Advisor Strategic Income Fund Class C	2.88%	7.88%	4.38%	7.98%	-12.53%	2.56%	6.41%	9.95%	-3.81%	7.01%
PUCZX PGIM Strategic Bond Fund Class Z	0.95%	8.47%	6.46%	8.20%	-13.74%	0.05%	6.28%	14.89%	1.09%	7.48%

Correlation

The correlation between FSRCX and PUCZX is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.76

The correlation between FSRCX and PUCZX has been stable across timeframes, ranging from 0.72 to 0.82 - a consistent structural relationship.

Return for Risk

FSRCX vs. PUCZX — Risk / Return Rank

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

FSRCX

FSRCX Risk / Return Rank: 79
FSRCX Sharpe Ratio Rank: 79
FSRCX Sortino Ratio Rank: 82
FSRCX Omega Ratio Rank: 81
FSRCX Calmar Ratio Rank: 75
FSRCX Martin Ratio Rank: 78

PUCZX

PUCZX Risk / Return Rank: 39
PUCZX Sharpe Ratio Rank: 39
PUCZX Sortino Ratio Rank: 44
PUCZX Omega Ratio Rank: 42
PUCZX Calmar Ratio Rank: 34
PUCZX Martin Ratio Rank: 36

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.

FSRCX vs. PUCZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Strategic Income Fund Class C (FSRCX) and PGIM Strategic Bond Fund Class Z (PUCZX). 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.

	FSRCX	PUCZX	Difference
Sharpe ratio: Return per unit of total volatility	2.61	1.81	+0.80
Sortino ratio: Return per unit of downside risk	3.90	2.80	+1.10
Omega ratio: Gain probability vs. loss probability	1.54	1.35	+0.19
Calmar ratio: Return relative to maximum drawdown	3.42	2.18	+1.24
Martin ratio: Return relative to average drawdown	14.68	7.99	+6.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSRCX vs. PUCZX - Sharpe Ratio Comparison

The current FSRCX Sharpe Ratio is 2.61, which is higher than the PUCZX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of FSRCX and PUCZX, 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

	FSRCX	PUCZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.61	1.81	+0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.41	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.92	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	0.98	+0.19

Drawdowns

FSRCX vs. PUCZX - Drawdown Comparison

The maximum FSRCX drawdown since its inception was -18.16%, roughly equal to the maximum PUCZX drawdown of -18.60%. Use the drawdown chart below to compare losses from any high point for FSRCX and PUCZX.

Drawdown Indicators

	FSRCX	PUCZX	Difference
Max Drawdown Largest peak-to-trough decline	-18.16%	-18.60%	+0.44%
Max Drawdown (1Y) Largest decline over 1 year	-2.66%	-3.11%	+0.45%
Max Drawdown (3Y) Largest decline over 3 years	-4.24%	-3.58%	-0.66%
Max Drawdown (5Y) Largest decline over 5 years	-16.69%	-18.60%	+1.91%
Max Drawdown (10Y) Largest decline over 10 years	-16.69%	-18.60%	+1.91%
Current Drawdown Current decline from peak	0.00%	-0.79%	+0.79%
Average Drawdown Average peak-to-trough decline	-2.09%	-3.37%	+1.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.62%	0.85%	-0.23%

Volatility

FSRCX vs. PUCZX - Volatility Comparison

The current volatility for Fidelity Advisor Strategic Income Fund Class C (FSRCX) is 1.40%, while PGIM Strategic Bond Fund Class Z (PUCZX) has a volatility of 1.61%. This indicates that FSRCX experiences smaller price fluctuations and is considered to be less risky than PUCZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSRCX	PUCZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.40%	1.61%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	2.91%	2.97%	-0.06%
Volatility (1Y) Calculated over the trailing 1-year period	3.49%	3.74%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.48%	4.65%	-0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.41%	4.72%	-0.31%

FSRCX vs. PUCZX - Expense Ratio Comparison

FSRCX has a 1.72% expense ratio, which is higher than PUCZX's 0.62% expense ratio.

Dividends

FSRCX vs. PUCZX - Dividend Comparison

FSRCX's dividend yield for the trailing twelve months is around 3.27%, less than PUCZX's 5.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSRCX Fidelity Advisor Strategic Income Fund Class C	3.27%	3.32%	2.59%	3.03%	2.08%	3.36%	3.59%	3.33%	2.50%	3.20%	2.69%	2.46%
PUCZX PGIM Strategic Bond Fund Class Z	5.14%	5.12%	6.40%	7.62%	5.17%	3.65%	5.06%	8.81%	4.56%	4.52%	6.49%	0.00%

Frequently Asked Questions

Can I hold both FSRCX and PUCZX in my portfolio?

FSRCX and PUCZX have a correlation of 0.72, 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 PUCZX?

PUCZX has higher volatility (1.61%) compared to FSRCX (1.40%). In terms of maximum drawdown, FSRCX dropped -18.16% vs PUCZX's -18.60%.

Which has better risk-adjusted returns?

FSRCX currently has the higher Sharpe Ratio (2.61 vs 1.81), 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.