FSRTX vs. CONWX

Last updated Jun 23, 2026

FSRTX (Fidelity Advisor Strategic Real Return Fund Class M) and CONWX (Concorde Wealth Management Fund) are both Diversified Portfolio funds. Over the past 10 years, FSRTX returned 5.18%/yr vs 8.14%/yr for CONWX. A 0.68 correlation means they provide meaningful diversification when combined. FSRTX charges 0.95%/yr vs 1.41%/yr for CONWX.

Performance

FSRTX vs. CONWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Strategic Real Return Fund Class M (FSRTX) and Concorde Wealth Management Fund (CONWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSRTX achieves a 6.49% return, which is significantly higher than CONWX's 5.52% return. Over the past 10 years, FSRTX has underperformed CONWX with an annualized return of 5.18%, while CONWX has yielded a comparatively higher 8.14% annualized return.

FSRTX

• 1D: -0.21%
• 1M: -1.68%
• YTD: 6.49%
• 6M: 6.61%
• 1Y: 12.20%
• 3Y*: 8.52%
• 5Y*: 5.83%
• 10Y*: 5.18%

CONWX

• 1D: -0.10%
• 1M: -2.13%
• YTD: 5.52%
• 6M: 5.14%
• 1Y: 13.72%
• 3Y*: 11.41%
• 5Y*: 6.54%
• 10Y*: 8.14%

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

FSRTX vs. CONWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSRTX Fidelity Advisor Strategic Real Return Fund Class M	6.49%	10.08%	5.57%	4.33%	-3.58%	15.50%	3.49%	10.24%	-4.26%	3.78%
CONWX Concorde Wealth Management Fund	5.52%	11.95%	13.58%	0.20%	-2.51%	19.73%	8.76%	16.84%	-1.95%	7.17%

Correlation

The correlation between FSRTX and CONWX is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.68

The correlation between FSRTX and CONWX has been stable across timeframes, ranging from 0.67 to 0.75 - a consistent structural relationship.

Return for Risk

FSRTX vs. CONWX — Risk / Return Rank

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

FSRTX

FSRTX Risk / Return Rank: 85
FSRTX Sharpe Ratio Rank: 83
FSRTX Sortino Ratio Rank: 78
FSRTX Omega Ratio Rank: 79
FSRTX Calmar Ratio Rank: 91
FSRTX Martin Ratio Rank: 93

CONWX

CONWX Risk / Return Rank: 55
CONWX Sharpe Ratio Rank: 52
CONWX Sortino Ratio Rank: 54
CONWX Omega Ratio Rank: 48
CONWX Calmar Ratio Rank: 71
CONWX Martin Ratio Rank: 48

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.

FSRTX vs. CONWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Strategic Real Return Fund Class M (FSRTX) and Concorde Wealth Management Fund (CONWX). 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.

	FSRTX	CONWX	Difference
Sharpe ratio: Return per unit of total volatility	2.49	1.95	+0.54
Sortino ratio: Return per unit of downside risk	3.42	2.83	+0.59
Omega ratio: Gain probability vs. loss probability	1.47	1.35	+0.12
Calmar ratio: Return relative to maximum drawdown	4.49	3.12	+1.37
Martin ratio: Return relative to average drawdown	18.53	9.37	+9.16

FSRTX vs. CONWX - Sharpe Ratio Comparison

The current FSRTX Sharpe Ratio is 2.49, which is comparable to the CONWX Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of FSRTX and CONWX, 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

FSRTX vs. CONWX - Drawdown Comparison

The maximum FSRTX drawdown since its inception was -33.57%, which is greater than CONWX's maximum drawdown of -26.09%. Use the drawdown chart below to compare losses from any high point for FSRTX and CONWX.

Drawdown Indicators

	FSRTX	CONWX	Difference
Max Drawdown Largest peak-to-trough decline	-33.57%	-26.09%	-7.48%
Max Drawdown (1Y) Largest decline over 1 year	-2.70%	-4.44%	+1.74%
Max Drawdown (3Y) Largest decline over 3 years	-5.87%	-9.86%	+3.99%
Max Drawdown (5Y) Largest decline over 5 years	-12.89%	-12.49%	-0.40%
Max Drawdown (10Y) Largest decline over 10 years	-19.88%	-26.09%	+6.21%
Current Drawdown Current decline from peak	-2.70%	-4.44%	+1.74%
Average Drawdown Average peak-to-trough decline	-4.41%	-2.78%	-1.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	1.47%	-0.81%

Volatility

FSRTX vs. CONWX - Volatility Comparison

The current volatility for Fidelity Advisor Strategic Real Return Fund Class M (FSRTX) is 1.37%, while Concorde Wealth Management Fund (CONWX) has a volatility of 1.97%. This indicates that FSRTX experiences smaller price fluctuations and is considered to be less risky than CONWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSRTX	CONWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.37%	1.97%	-0.60%
Volatility (6M) Calculated over the trailing 6-month period	3.84%	5.23%	-1.39%
Volatility (1Y) Calculated over the trailing 1-year period	4.87%	7.11%	-2.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.91%	10.20%	-3.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.73%	11.10%	-4.37%

FSRTX vs. CONWX - Expense Ratio Comparison

FSRTX has a 0.95% expense ratio, which is lower than CONWX's 1.41% expense ratio.

Dividends

FSRTX vs. CONWX - Dividend Comparison

FSRTX's dividend yield for the trailing twelve months is around 3.96%, more than CONWX's 3.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CONWX Concorde Wealth Management Fund	3.49%	3.69%	10.55%	2.16%	7.85%	3.63%	3.86%	2.16%	5.09%	2.48%	0.00%	0.00%
FSRTX Fidelity Advisor Strategic Real Return Fund Class M	3.96%	4.44%	4.56%	5.05%	7.07%	5.14%	2.02%	2.81%	9.10%	2.32%	2.06%	1.41%

Frequently Asked Questions

Can I hold both FSRTX and CONWX in my portfolio?

FSRTX and CONWX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSRTX or CONWX?

CONWX has higher volatility (1.97%) compared to FSRTX (1.37%). In terms of maximum drawdown, FSRTX dropped -33.57% vs CONWX's -26.09%.

Which has better risk-adjusted returns?

FSRTX currently has the higher Sharpe Ratio (2.49 vs 1.95), 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.