FSTAX vs. VCPAX

Last updated Jun 24, 2026

FSTAX (Fidelity Advisor Strategic Income Fund Class A) and VCPAX (Vanguard Core-Plus Bond Fund Admiral Shares) are both Total Bond Market funds. Over the past 3 years, FSTAX returned 7.49%/yr vs 5.28%/yr for VCPAX. Their correlation of 0.81 suggests significant overlap in exposure. FSTAX charges 0.97%/yr vs 0.20%/yr for VCPAX.

Performance

FSTAX vs. VCPAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Strategic Income Fund Class A (FSTAX) and Vanguard Core-Plus Bond Fund Admiral Shares (VCPAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSTAX achieves a 3.28% return, which is significantly higher than VCPAX's 0.72% return.

FSTAX

• 1D: -0.08%
• 1M: 1.33%
• YTD: 3.28%
• 6M: 3.65%
• 1Y: 8.93%
• 3Y*: 7.49%
• 5Y*: 2.73%
• 10Y*: 4.07%

VCPAX

• 1D: -0.23%
• 1M: 0.69%
• YTD: 0.72%
• 6M: 0.89%
• 1Y: 5.03%
• 3Y*: 5.28%
• 5Y*: —
• 10Y*: —

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

FSTAX vs. VCPAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FSTAX Fidelity Advisor Strategic Income Fund Class A	3.28%	8.68%	4.93%	8.82%	-11.98%	0.75%
VCPAX Vanguard Core-Plus Bond Fund Admiral Shares	0.72%	8.06%	2.95%	6.80%	-12.60%	0.32%

Correlation

The correlation between FSTAX and VCPAX 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	0.78
Correlation (All Time) Calculated using the full available price history since Oct 14, 2021	0.81

The correlation between FSTAX and VCPAX has been stable across timeframes, ranging from 0.72 to 0.81 - a consistent structural relationship.

Return for Risk

FSTAX vs. VCPAX — Risk / Return Rank

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

FSTAX

FSTAX Risk / Return Rank: 84
FSTAX Sharpe Ratio Rank: 84
FSTAX Sortino Ratio Rank: 86
FSTAX Omega Ratio Rank: 85
FSTAX Calmar Ratio Rank: 81
FSTAX Martin Ratio Rank: 86

VCPAX

VCPAX Risk / Return Rank: 31
VCPAX Sharpe Ratio Rank: 31
VCPAX Sortino Ratio Rank: 34
VCPAX Omega Ratio Rank: 30
VCPAX Calmar Ratio Rank: 32
VCPAX Martin Ratio Rank: 28

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.

FSTAX vs. VCPAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Strategic Income Fund Class A (FSTAX) and Vanguard Core-Plus Bond Fund Admiral Shares (VCPAX). 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.

	FSTAX	VCPAX	Difference
Sharpe ratio: Return per unit of total volatility	2.53	1.50	+1.03
Sortino ratio: Return per unit of downside risk	3.79	2.24	+1.55
Omega ratio: Gain probability vs. loss probability	1.53	1.27	+0.26
Calmar ratio: Return relative to maximum drawdown	3.49	2.00	+1.49
Martin ratio: Return relative to average drawdown	14.97	6.11	+8.86

FSTAX vs. VCPAX - Sharpe Ratio Comparison

The current FSTAX Sharpe Ratio is 2.53, which is higher than the VCPAX Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of FSTAX and VCPAX, 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

FSTAX vs. VCPAX - Drawdown Comparison

The maximum FSTAX drawdown since its inception was -23.29%, which is greater than VCPAX's maximum drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for FSTAX and VCPAX.

Drawdown Indicators

	FSTAX	VCPAX	Difference
Max Drawdown Largest peak-to-trough decline	-23.29%	-17.25%	-6.04%
Max Drawdown (1Y) Largest decline over 1 year	-2.65%	-2.65%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-4.04%	-5.71%	+1.67%
Max Drawdown (5Y) Largest decline over 5 years	-16.18%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-16.18%	—	—
Current Drawdown Current decline from peak	-0.08%	-1.09%	+1.01%
Average Drawdown Average peak-to-trough decline	-4.82%	-6.39%	+1.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.62%	0.87%	-0.25%

Volatility

FSTAX vs. VCPAX - Volatility Comparison

Fidelity Advisor Strategic Income Fund Class A (FSTAX) has a higher volatility of 1.35% compared to Vanguard Core-Plus Bond Fund Admiral Shares (VCPAX) at 1.07%. This indicates that FSTAX's price experiences larger fluctuations and is considered to be riskier than VCPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSTAX	VCPAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	1.07%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	3.07%	2.69%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	3.67%	3.54%	+0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.52%	5.62%	-1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.45%	5.62%	-1.17%

FSTAX vs. VCPAX - Expense Ratio Comparison

FSTAX has a 0.97% expense ratio, which is higher than VCPAX's 0.20% expense ratio.

Dividends

FSTAX vs. VCPAX - Dividend Comparison

FSTAX's dividend yield for the trailing twelve months is around 4.00%, less than VCPAX's 4.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSTAX Fidelity Advisor Strategic Income Fund Class A	4.00%	4.05%	3.21%	3.70%	2.70%	4.01%	4.32%	4.06%	3.50%	3.70%	3.49%	2.89%
VCPAX Vanguard Core-Plus Bond Fund Admiral Shares	4.84%	4.86%	5.19%	4.55%	3.26%	0.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSTAX and VCPAX in my portfolio?

FSTAX and VCPAX 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, FSTAX or VCPAX?

FSTAX has higher volatility (1.35%) compared to VCPAX (1.07%). In terms of maximum drawdown, FSTAX dropped -23.29% vs VCPAX's -17.25%.

Which has better risk-adjusted returns?

FSTAX currently has the higher Sharpe Ratio (2.53 vs 1.50), 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.