FYBTX vs. FIKUX

Last updated Jun 5, 2026

FYBTX (Fidelity Series Short-Term Credit Fund) and FIKUX (Fidelity Advisor Mortgage Securities Fund Class Z) are both Total Bond Market funds from Fidelity. Over the past 5 years, FYBTX returned 2.73%/yr vs 0.16%/yr for FIKUX. A 0.73 correlation means they provide meaningful diversification when combined. FYBTX charges 0.00%/yr vs 0.36%/yr for FIKUX.

Performance

FYBTX vs. FIKUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Short-Term Credit Fund (FYBTX) and Fidelity Advisor Mortgage Securities Fund Class Z (FIKUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FYBTX achieves a 0.91% return, which is significantly higher than FIKUX's 0.70% return.

FYBTX

• 1D: 0.00%
• 1M: 0.28%
• YTD: 0.91%
• 6M: 1.34%
• 1Y: 3.98%
• 3Y*: 5.26%
• 5Y*: 2.73%
• 10Y*: 2.57%

FIKUX

• 1D: -0.20%
• 1M: 0.13%
• YTD: 0.70%
• 6M: 1.01%
• 1Y: 6.22%
• 3Y*: 4.35%
• 5Y*: 0.16%
• 10Y*: —

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

FYBTX vs. FIKUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FYBTX Fidelity Series Short-Term Credit Fund	0.91%	5.72%	5.13%	6.08%	-3.50%	-0.54%	3.99%	5.07%	0.88%
FIKUX Fidelity Advisor Mortgage Securities Fund Class Z	0.70%	8.40%	1.22%	4.69%	-12.59%	-1.15%	4.61%	6.42%	2.85%

Correlation

The correlation between FYBTX and FIKUX is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Oct 18, 2018	0.74

The correlation between FYBTX and FIKUX has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

Return for Risk

FYBTX vs. FIKUX — Risk / Return Rank

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

FYBTX

FYBTX Risk / Return Rank: 76
FYBTX Sharpe Ratio Rank: 56
FYBTX Sortino Ratio Rank: 88
FYBTX Omega Ratio Rank: 84
FYBTX Calmar Ratio Rank: 79
FYBTX Martin Ratio Rank: 70

FIKUX

FIKUX Risk / Return Rank: 38
FIKUX Sharpe Ratio Rank: 36
FIKUX Sortino Ratio Rank: 39
FIKUX Omega Ratio Rank: 36
FIKUX Calmar Ratio Rank: 43
FIKUX Martin Ratio Rank: 37

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.

FYBTX vs. FIKUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Short-Term Credit Fund (FYBTX) and Fidelity Advisor Mortgage Securities Fund Class Z (FIKUX). 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.

	FYBTX	FIKUX	Difference
Sharpe ratio: Return per unit of total volatility	2.20	1.70	+0.50
Sortino ratio: Return per unit of downside risk	4.28	2.56	+1.72
Omega ratio: Gain probability vs. loss probability	1.58	1.31	+0.26
Calmar ratio: Return relative to maximum drawdown	3.53	2.46	+1.07
Martin ratio: Return relative to average drawdown	13.18	7.88	+5.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FYBTX vs. FIKUX - Sharpe Ratio Comparison

The current FYBTX Sharpe Ratio is 2.20, which is comparable to the FIKUX Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of FYBTX and FIKUX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FYBTX	FIKUX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	1.70	+0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.25	0.02	+1.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.38	0.31	+1.06

Drawdowns

FYBTX vs. FIKUX - Drawdown Comparison

The maximum FYBTX drawdown since its inception was -6.00%, smaller than the maximum FIKUX drawdown of -18.63%. Use the drawdown chart below to compare losses from any high point for FYBTX and FIKUX.

Drawdown Indicators

	FYBTX	FIKUX	Difference
Max Drawdown Largest peak-to-trough decline	-6.00%	-18.63%	+12.63%
Max Drawdown (1Y) Largest decline over 1 year	-1.19%	-2.81%	+1.62%
Max Drawdown (3Y) Largest decline over 3 years	-1.19%	-8.03%	+6.84%
Max Drawdown (5Y) Largest decline over 5 years	-6.00%	-18.50%	+12.50%
Max Drawdown (10Y) Largest decline over 10 years	-6.00%	—	—
Current Drawdown Current decline from peak	-0.10%	-1.39%	+1.29%
Average Drawdown Average peak-to-trough decline	-0.72%	-5.04%	+4.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	0.88%	-0.56%

Volatility

FYBTX vs. FIKUX - Volatility Comparison

The current volatility for Fidelity Series Short-Term Credit Fund (FYBTX) is 0.53%, while Fidelity Advisor Mortgage Securities Fund Class Z (FIKUX) has a volatility of 1.38%. This indicates that FYBTX experiences smaller price fluctuations and is considered to be less risky than FIKUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FYBTX	FIKUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.53%	1.38%	-0.85%
Volatility (6M) Calculated over the trailing 6-month period	1.35%	2.88%	-1.53%
Volatility (1Y) Calculated over the trailing 1-year period	1.91%	4.07%	-2.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.19%	6.81%	-4.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.92%	5.72%	-3.80%

FYBTX vs. FIKUX - Expense Ratio Comparison

FYBTX has a 0.00% expense ratio, which is lower than FIKUX's 0.36% expense ratio.

Dividends

FYBTX vs. FIKUX - Dividend Comparison

FYBTX's dividend yield for the trailing twelve months is around 4.73%, more than FIKUX's 4.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FIKUX Fidelity Advisor Mortgage Securities Fund Class Z	4.00%	4.01%	4.24%	3.31%	1.49%	0.68%	2.50%	2.69%	0.67%	0.00%	0.00%
FYBTX Fidelity Series Short-Term Credit Fund	4.73%	4.66%	3.67%	2.76%	1.26%	1.65%	2.31%	2.72%	2.45%	1.59%	1.24%

Frequently Asked Questions

Can I hold both FYBTX and FIKUX in my portfolio?

FYBTX and FIKUX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FYBTX or FIKUX?

FIKUX has higher volatility (1.38%) compared to FYBTX (0.53%). In terms of maximum drawdown, FYBTX dropped -6.00% vs FIKUX's -18.63%.

Which has better risk-adjusted returns?

FYBTX currently has the higher Sharpe Ratio (2.20 vs 1.70), 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.