FSRKX vs. PHIYX
FSRKX (Fidelity Strategic Real Return Fund Class K6) and PHIYX (PIMCO High Yield Fund) are both mutual funds - FSRKX is a Diversified Portfolio fund managed by Fidelity, while PHIYX is a High Yield Bonds fund managed by PIMCO. Over the past 5 years, FSRKX returned 5.72%/yr vs 3.19%/yr for PHIYX. Their 0.47 correlation means their historical movements had little consistent relationship. FSRKX charges 0.51%/yr vs 0.56%/yr for PHIYX.
Performance
FSRKX vs. PHIYX - Performance Comparison
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Returns By Period
In the year-to-date period, FSRKX achieves a 6.99% return, which is significantly higher than PHIYX's 0.34% return.
FSRKX
- 1D
- 0.00%
- 1M
- 0.64%
- 6M
- 3.39%
- YTD
- 6.99%
- 1Y
- 13.35%
- 3Y*
- 8.30%
- 5Y*
- 5.72%
- 10Y*
- —
- ALL TIME*
- 6.77%
PHIYX
- 1D
- 0.25%
- 1M
- -0.87%
- 6M
- 0.08%
- YTD
- 0.34%
- 1Y
- 4.45%
- 3Y*
- 7.31%
- 5Y*
- 3.19%
- 10Y*
- 4.67%
- ALL TIME*
- 6.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FSRKX vs. PHIYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FSRKX Fidelity Strategic Real Return Fund Class K6 | 6.99% | 10.59% | 6.00% | 4.81% | -3.13% | 16.06% | 3.94% | 1.66% |
PHIYX PIMCO High Yield Fund | 0.34% | 8.60% | 6.81% | 12.83% | -11.96% | 4.07% | 5.37% | 3.09% |
Correlation
The correlation between FSRKX and PHIYX is 0.20, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.20 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2019 | 0.47 |
Over the past year, the correlation between FSRKX and PHIYX has dropped to 0.20 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
FSRKX vs. PHIYX — Risk / Return Rank
FSRKX
PHIYX
FSRKX vs. PHIYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Strategic Real Return Fund Class K6 (FSRKX) and PIMCO High Yield Fund (PHIYX). 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.
| FSRKX | PHIYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.13 | ||
| Sortino ratioReturn per unit of downside risk | +1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.30 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 1.91 | +1.64 |
| Martin ratioReturn relative to average drawdown | 11.71 | 8.66 | +3.05 |
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Drawdowns
FSRKX vs. PHIYX - Drawdown Comparison
The maximum FSRKX drawdown since its inception was -19.93%, smaller than the maximum PHIYX drawdown of -32.73%. Use the drawdown chart below to compare losses from any high point for FSRKX and PHIYX.
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Drawdown Indicators
| FSRKX | PHIYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.93% | -32.73% | +12.80% |
Max Drawdown (1Y)Largest decline over 1 year | -3.60% | -2.58% | -1.02% |
Max Drawdown (3Y)Largest decline over 3 years | -5.84% | -3.54% | -2.30% |
Max Drawdown (5Y)Largest decline over 5 years | -12.74% | -15.74% | +3.00% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.30% | — |
Current DrawdownCurrent decline from peak | -2.37% | -1.00% | -1.37% |
Average DrawdownAverage peak-to-trough decline | -3.19% | -2.17% | -1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 0.57% | +0.54% |
Volatility
FSRKX vs. PHIYX - Volatility Comparison
Fidelity Strategic Real Return Fund Class K6 (FSRKX) has a higher volatility of 1.83% compared to PIMCO High Yield Fund (PHIYX) at 0.73%. This indicates that FSRKX's price experiences larger fluctuations and is considered to be riskier than PHIYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSRKX | PHIYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 0.73% | +1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.90% | 2.82% | +1.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.06% | 3.45% | +1.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.94% | 5.31% | +1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.75% | 5.58% | +2.17% |
FSRKX vs. PHIYX - Expense Ratio Comparison
FSRKX has a 0.51% expense ratio, which is lower than PHIYX's 0.56% expense ratio.
Dividends
FSRKX vs. PHIYX - Dividend Comparison
FSRKX's dividend yield for the trailing twelve months is around 3.29%, less than PHIYX's 5.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSRKX Fidelity Strategic Real Return Fund Class K6 | 3.29% | 4.83% | 4.98% | 5.38% | 7.38% | 5.43% | 2.31% | 1.16% | 0.00% | 0.00% | 0.00% | 0.00% |
PHIYX PIMCO High Yield Fund | 5.95% | 6.19% | 6.18% | 5.62% | 6.01% | 4.53% | 4.55% | 5.04% | 5.63% | 5.11% | 5.37% | 8.79% |
Frequently Asked Questions
FSRKX and PHIYX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSRKX has higher volatility (1.83%) compared to PHIYX (0.73%). In terms of maximum drawdown, FSRKX dropped -19.93% vs PHIYX's -32.73%.
FSRKX currently has the higher Sharpe Ratio (2.56 vs 1.43), 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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