FSRIX vs. FGBPX
FSRIX (Fidelity Advisor Strategic Income Fund Class I) and FGBPX (Fidelity Advisor Investment Grade Bond Fund Class I) are both Total Bond Market funds from Fidelity. Over the past 10 years, FSRIX returned 4.46%/yr vs 1.98%/yr for FGBPX. At a 0.49 correlation, their price movements are largely independent. FSRIX charges 0.71%/yr vs 0.49%/yr for FGBPX.
Performance
FSRIX vs. FGBPX - Performance Comparison
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Returns By Period
In the year-to-date period, FSRIX achieves a 3.36% return, which is significantly higher than FGBPX's 0.18% return. Over the past 10 years, FSRIX has outperformed FGBPX with an annualized return of 4.46%, while FGBPX has yielded a comparatively lower 1.98% annualized return.
FSRIX
- 1D
- -0.08%
- 1M
- 1.33%
- YTD
- 3.36%
- 6M
- 3.76%
- 1Y
- 9.21%
- 3Y*
- 8.16%
- 5Y*
- 3.19%
- 10Y*
- 4.46%
FGBPX
- 1D
- -0.28%
- 1M
- 0.61%
- YTD
- 0.18%
- 6M
- 0.50%
- 1Y
- 4.05%
- 3Y*
- 3.81%
- 5Y*
- -0.14%
- 10Y*
- 1.98%
FSRIX vs. FGBPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSRIX Fidelity Advisor Strategic Income Fund Class I | 3.36% | 8.97% | 5.97% | 9.51% | -11.91% | 3.50% | 7.50% | 11.01% | -2.70% | 8.08% |
FGBPX Fidelity Advisor Investment Grade Bond Fund Class I | 0.18% | 7.16% | 0.89% | 6.08% | -14.07% | -1.15% | 9.99% | 9.63% | -0.39% | 3.85% |
Correlation
The correlation between FSRIX and FGBPX is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 1994 | 0.49 |
Over the past year, FSRIX and FGBPX have become more correlated (0.70) than their long-term average of 0.49, meaning their price movements have been converging.
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Return for Risk
FSRIX vs. FGBPX — Risk / Return Rank
FSRIX
FGBPX
FSRIX vs. FGBPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Strategic Income Fund Class I (FSRIX) and Fidelity Advisor Investment Grade Bond Fund Class I (FGBPX). 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.
| FSRIX | FGBPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.54 | ||
| Sortino ratioReturn per unit of downside risk | +2.31 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.18 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 3.54 | 1.39 | +2.14 |
| Martin ratioReturn relative to average drawdown | 15.40 | 3.86 | +11.54 |
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Drawdowns
FSRIX vs. FGBPX - Drawdown Comparison
The maximum FSRIX drawdown since its inception was -22.98%, which is greater than FGBPX's maximum drawdown of -18.75%. Use the drawdown chart below to compare losses from any high point for FSRIX and FGBPX.
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Drawdown Indicators
| FSRIX | FGBPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.98% | -18.75% | -4.23% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -3.03% | +0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -4.00% | -6.09% | +2.09% |
Max Drawdown (5Y)Largest decline over 5 years | -15.99% | -18.75% | +2.76% |
Max Drawdown (10Y)Largest decline over 10 years | -15.99% | -18.75% | +2.76% |
Current DrawdownCurrent decline from peak | -0.08% | -2.45% | +2.37% |
Average DrawdownAverage peak-to-trough decline | -4.68% | -4.79% | +0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 1.09% | -0.47% |
Volatility
FSRIX vs. FGBPX - Volatility Comparison
Fidelity Advisor Strategic Income Fund Class I (FSRIX) has a higher volatility of 1.35% compared to Fidelity Advisor Investment Grade Bond Fund Class I (FGBPX) at 1.20%. This indicates that FSRIX's price experiences larger fluctuations and is considered to be riskier than FGBPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSRIX | FGBPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 1.20% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 3.14% | 2.99% | +0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.71% | 4.08% | -0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.55% | 6.00% | -1.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.47% | 5.01% | -0.54% |
FSRIX vs. FGBPX - Expense Ratio Comparison
FSRIX has a 0.71% expense ratio, which is higher than FGBPX's 0.49% expense ratio.
Dividends
FSRIX vs. FGBPX - Dividend Comparison
FSRIX's dividend yield for the trailing twelve months is around 4.24%, more than FGBPX's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FGBPX Fidelity Advisor Investment Grade Bond Fund Class I | 3.87% | 3.83% | 3.29% | 3.19% | 1.92% | 1.32% | 4.76% | 2.71% | 2.82% | 2.12% | 2.67% | 2.61% |
FSRIX Fidelity Advisor Strategic Income Fund Class I | 4.24% | 4.29% | 4.11% | 4.28% | 2.91% | 4.18% | 4.53% | 4.30% | 3.74% | 4.17% | 3.75% | 3.09% |
Frequently Asked Questions
FSRIX and FGBPX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSRIX has higher volatility (1.35%) compared to FGBPX (1.20%). In terms of maximum drawdown, FSRIX dropped -22.98% vs FGBPX's -18.75%.
FSRIX currently has the higher Sharpe Ratio (2.58 vs 1.04), 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.
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