FSRTX vs. FCSRX

Last updated Aug 1, 2026

FSRTX (Fidelity Advisor Strategic Real Return Fund Class M) and FCSRX (Fidelity Advisor Strategic Real Return Fund Class C) are both Diversified Portfolio funds from Fidelity. Over the past 10 years, FSRTX returned 5.18%/yr vs 4.42%/yr for FCSRX. Their 0.98 correlation means they have historically moved very closely together. FSRTX charges 0.95%/yr vs 1.70%/yr for FCSRX.

Performance

FSRTX vs. FCSRX - 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 Fidelity Advisor Strategic Real Return Fund Class C (FCSRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FSRTX having a 6.83% return and FCSRX slightly lower at 6.55%. Over the past 10 years, FSRTX has outperformed FCSRX with an annualized return of 5.18%, while FCSRX has yielded a comparatively lower 4.42% annualized return.

FSRTX

• 1D: 0.00%
• 1M: 0.64%
• 6M: 3.20%
• YTD: 6.83%
• 1Y: 12.84%
• 3Y*: 7.87%
• 5Y*: 5.26%
• 10Y*: 5.18%
• ALL TIME*: 3.78%

FCSRX

• 1D: 0.00%
• 1M: 0.77%
• 6M: 2.98%
• YTD: 6.55%
• 1Y: 12.24%
• 3Y*: 7.14%
• 5Y*: 4.52%
• 10Y*: 4.42%
• ALL TIME*: 2.96%

*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)
FCSRX Fidelity Advisor Strategic Real Return Fund Class C	$0.00	$0.00	$0.00
FSRTX Fidelity Advisor Strategic Real Return Fund Class M	$0.00	$0.00	$0.00

FSRTX vs. FCSRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSRTX Fidelity Advisor Strategic Real Return Fund Class M	6.83%	10.08%	5.57%	4.33%	-3.58%	15.50%	3.49%	10.24%	-4.26%	3.78%
FCSRX Fidelity Advisor Strategic Real Return Fund Class C	6.55%	9.27%	4.75%	3.60%	-4.26%	14.68%	2.60%	9.54%	-5.03%	3.02%

Correlation

The correlation between FSRTX and FCSRX is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.96
Correlation (3Y) Balances recent behavior with more history.	0.97
Correlation (5Y) Shows whether the relationship held over a longer period.	0.98
Correlation (10Y) Provides a long-term view across more market conditions.	0.97
Correlation (All Time) Calculated using the full available price history since Sep 9, 2005	0.98

The correlation between FSRTX and FCSRX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

Return for Risk

FSRTX vs. FCSRX — Risk / Return Rank

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

FSRTX

FSRTX Risk / Return Rank: 89
FSRTX Sharpe Ratio Rank: 93
FSRTX Sortino Ratio Rank: 89
FSRTX Omega Ratio Rank: 89
FSRTX Calmar Ratio Rank: 90
FSRTX Martin Ratio Rank: 86

FCSRX

FCSRX Risk / Return Rank: 89
FCSRX Sharpe Ratio Rank: 93
FCSRX Sortino Ratio Rank: 89
FCSRX Omega Ratio Rank: 89
FCSRX Calmar Ratio Rank: 90
FCSRX Martin Ratio Rank: 84

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.

FSRTX vs. FCSRX - 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 Fidelity Advisor Strategic Real Return Fund Class C (FCSRX). 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	FCSRX	Difference
Sharpe ratio: Return per unit of total volatility	2.47	2.44	+0.03
Sortino ratio: Return per unit of downside risk	3.34	3.32	+0.02
Omega ratio: Gain probability vs. loss probability	1.47	1.47	0.00
Calmar ratio: Return relative to maximum drawdown	3.40	3.36	+0.04
Martin ratio: Return relative to average drawdown	11.17	10.54	+0.63

FSRTX vs. FCSRX - Sharpe Ratio Comparison

The current FSRTX Sharpe Ratio is 2.47, which is comparable to the FCSRX Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of FSRTX and FCSRX, 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. FCSRX - Drawdown Comparison

The maximum FSRTX drawdown since its inception was -33.57%, roughly equal to the maximum FCSRX drawdown of -33.91%. Use the drawdown chart below to compare losses from any high point for FSRTX and FCSRX.

Drawdown Indicators

	FSRTX	FCSRX	Difference
Max Drawdown Largest peak-to-trough decline	-33.57%	-33.91%	+0.34%
Max Drawdown (1Y) Largest decline over 1 year	-3.64%	-3.50%	-0.14%
Max Drawdown (3Y) Largest decline over 3 years	-5.87%	-5.85%	-0.02%
Max Drawdown (5Y) Largest decline over 5 years	-12.89%	-13.22%	+0.33%
Max Drawdown (10Y) Largest decline over 10 years	-19.88%	-20.02%	+0.14%
Current Drawdown Current decline from peak	-2.39%	-2.33%	-0.06%
Average Drawdown Average peak-to-trough decline	-4.41%	-5.07%	+0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.11%	1.11%	0.00%

Volatility

FSRTX vs. FCSRX - Volatility Comparison

Fidelity Advisor Strategic Real Return Fund Class M (FSRTX) has a higher volatility of 1.82% compared to Fidelity Advisor Strategic Real Return Fund Class C (FCSRX) at 1.62%. This indicates that FSRTX's price experiences larger fluctuations and is considered to be riskier than FCSRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSRTX	FCSRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.82%	1.62%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	4.00%	3.78%	+0.22%
Volatility (1Y) Calculated over the trailing 1-year period	5.06%	4.88%	+0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.92%	6.90%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.74%	6.71%	+0.03%

FSRTX vs. FCSRX - Expense Ratio Comparison

FSRTX has a 0.95% expense ratio, which is lower than FCSRX's 1.70% expense ratio.

Dividends

FSRTX vs. FCSRX - Dividend Comparison

FSRTX's dividend yield for the trailing twelve months is around 3.00%, more than FCSRX's 2.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCSRX Fidelity Advisor Strategic Real Return Fund Class C	2.54%	3.74%	3.86%	4.35%	6.51%	4.53%	1.32%	2.20%	8.51%	1.58%	1.34%	0.66%
FSRTX Fidelity Advisor Strategic Real Return Fund Class M	3.00%	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 FCSRX in my portfolio?

With a correlation of 0.96, FSRTX and FCSRX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FSRTX or FCSRX?

FSRTX has higher volatility (1.82%) compared to FCSRX (1.62%). In terms of maximum drawdown, FSRTX dropped -33.57% vs FCSRX's -33.91%.

Which has better risk-adjusted returns?

FSRTX currently has the higher Sharpe Ratio (2.47 vs 2.44), 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.