MAWIX vs. FBNDX
MAWIX (BlackRock Strategic Global Bond Fund) and FBNDX (Fidelity Investment Grade Bond Fund) are both mutual funds - MAWIX is a Global Bonds fund managed by BlackRock, while FBNDX is a Intermediate Core Bond fund actively managed by Fidelity. Over the past 10 years, MAWIX returned 1.92%/yr vs 2.10%/yr for FBNDX. At a 0.41 correlation, their price movements are largely independent. MAWIX charges 0.57%/yr vs 0.45%/yr for FBNDX.
Performance
MAWIX vs. FBNDX - Performance Comparison
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Returns By Period
In the year-to-date period, MAWIX achieves a 1.04% return, which is significantly higher than FBNDX's 0.34% return. Over the past 10 years, MAWIX has underperformed FBNDX with an annualized return of 1.92%, while FBNDX has yielded a comparatively higher 2.10% annualized return.
MAWIX
- 1D
- -0.19%
- 1M
- 1.00%
- YTD
- 1.04%
- 6M
- 1.59%
- 1Y
- 4.71%
- 3Y*
- 4.90%
- 5Y*
- -0.21%
- 10Y*
- 1.92%
FBNDX
- 1D
- 0.28%
- 1M
- 0.89%
- YTD
- 0.34%
- 6M
- 0.66%
- 1Y
- 4.54%
- 3Y*
- 4.08%
- 5Y*
- -0.04%
- 10Y*
- 2.10%
MAWIX vs. FBNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MAWIX BlackRock Strategic Global Bond Fund | 1.04% | 8.49% | 0.43% | 6.58% | -15.37% | -1.07% | 9.05% | 8.35% | -0.81% | 7.31% |
FBNDX Fidelity Investment Grade Bond Fund | 0.34% | 7.37% | 0.93% | 6.51% | -14.04% | -1.13% | 9.79% | 9.82% | -0.35% | 3.92% |
Correlation
The correlation between MAWIX and FBNDX is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since May 31, 1996 | 0.41 |
Over the past year, MAWIX and FBNDX have become more correlated (0.75) than their long-term average of 0.41, meaning their price movements have been converging.
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Return for Risk
MAWIX vs. FBNDX — Risk / Return Rank
MAWIX
FBNDX
MAWIX vs. FBNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Strategic Global Bond Fund (MAWIX) and Fidelity Investment Grade Bond Fund (FBNDX). 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.
| MAWIX | FBNDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.19 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 1.51 | -0.43 |
| Martin ratioReturn relative to average drawdown | 3.34 | 4.25 | -0.91 |
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Drawdowns
MAWIX vs. FBNDX - Drawdown Comparison
The maximum MAWIX drawdown since its inception was -32.07%, smaller than the maximum FBNDX drawdown of -42.76%. Use the drawdown chart below to compare losses from any high point for MAWIX and FBNDX.
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Drawdown Indicators
| MAWIX | FBNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.07% | -42.76% | +10.69% |
Max Drawdown (1Y)Largest decline over 1 year | -4.39% | -3.02% | -1.37% |
Max Drawdown (3Y)Largest decline over 3 years | -5.49% | -6.09% | +0.60% |
Max Drawdown (5Y)Largest decline over 5 years | -20.79% | -18.74% | -2.05% |
Max Drawdown (10Y)Largest decline over 10 years | -20.79% | -18.74% | -2.05% |
Current DrawdownCurrent decline from peak | -2.15% | -1.62% | -0.53% |
Average DrawdownAverage peak-to-trough decline | -5.90% | -10.34% | +4.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 1.07% | +0.34% |
Volatility
MAWIX vs. FBNDX - Volatility Comparison
BlackRock Strategic Global Bond Fund (MAWIX) has a higher volatility of 1.48% compared to Fidelity Investment Grade Bond Fund (FBNDX) at 1.25%. This indicates that MAWIX's price experiences larger fluctuations and is considered to be riskier than FBNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAWIX | FBNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.25% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 3.61% | 3.00% | +0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.73% | 4.07% | +0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.40% | 6.03% | -0.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.83% | 5.02% | -0.19% |
MAWIX vs. FBNDX - Expense Ratio Comparison
MAWIX has a 0.57% expense ratio, which is higher than FBNDX's 0.45% expense ratio.
Dividends
MAWIX vs. FBNDX - Dividend Comparison
MAWIX's dividend yield for the trailing twelve months is around 4.62%, more than FBNDX's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBNDX Fidelity Investment Grade Bond Fund | 3.91% | 3.87% | 3.34% | 3.56% | 1.98% | 1.34% | 4.70% | 2.75% | 2.86% | 2.18% | 2.72% | 2.66% |
MAWIX BlackRock Strategic Global Bond Fund | 4.62% | 4.32% | 2.93% | 2.65% | 2.38% | 1.81% | 4.68% | 2.62% | 2.61% | 3.13% | 2.73% | 5.77% |
Frequently Asked Questions
MAWIX and FBNDX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MAWIX has higher volatility (1.48%) compared to FBNDX (1.25%). In terms of maximum drawdown, MAWIX dropped -32.07% vs FBNDX's -42.76%.
FBNDX currently has the higher Sharpe Ratio (1.12 vs 1.00), 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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