MWTIX vs. FANCX

Last updated Jul 14, 2026

MWTIX (Metropolitan West Total Return Bond Fund Class I) and FANCX (Fidelity Advisor Short-Term Bond Fund Class C) are both Total Bond Market funds. Over the past 5 years, MWTIX returned -0.69%/yr vs 1.21%/yr for FANCX. A 0.70 correlation means they provide meaningful diversification when combined. MWTIX charges 0.45%/yr vs 1.51%/yr for FANCX.

Performance

MWTIX vs. FANCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Metropolitan West Total Return Bond Fund Class I (MWTIX) and Fidelity Advisor Short-Term Bond Fund Class C (FANCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MWTIX achieves a -0.15% return, which is significantly lower than FANCX's 0.11% return.

MWTIX

• 1D: -0.11%
• 1M: -0.28%
• 6M: -0.37%
• YTD: -0.15%
• 1Y: 4.15%
• 3Y*: 4.26%
• 5Y*: -0.69%
• 10Y*: 1.45%

FANCX

• 1D: 0.00%
• 1M: 0.12%
• 6M: 0.23%
• YTD: 0.11%
• 1Y: 2.26%
• 3Y*: 3.68%
• 5Y*: 1.21%
• 10Y*: —

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

MWTIX vs. FANCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MWTIX Metropolitan West Total Return Bond Fund Class I	-0.15%	7.51%	0.77%	6.02%	-15.49%	-1.32%	9.00%	9.10%	0.36%	3.43%
FANCX Fidelity Advisor Short-Term Bond Fund Class C	0.11%	4.38%	3.74%	3.91%	-4.63%	-1.81%	2.74%	2.90%	0.23%	-0.02%

Correlation

The correlation between MWTIX and FANCX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jul 22, 2016	0.70

The correlation between MWTIX and FANCX has been stable across timeframes, ranging from 0.70 to 0.77 - a consistent structural relationship.

Return for Risk

MWTIX vs. FANCX — Risk / Return Rank

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

MWTIX

MWTIX Risk / Return Rank: 17
MWTIX Sharpe Ratio Rank: 18
MWTIX Sortino Ratio Rank: 18
MWTIX Omega Ratio Rank: 16
MWTIX Calmar Ratio Rank: 18
MWTIX Martin Ratio Rank: 16

FANCX

FANCX Risk / Return Rank: 39
FANCX Sharpe Ratio Rank: 33
FANCX Sortino Ratio Rank: 42
FANCX Omega Ratio Rank: 46
FANCX Calmar Ratio Rank: 41
FANCX Martin Ratio Rank: 33

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.

MWTIX vs. FANCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Metropolitan West Total Return Bond Fund Class I (MWTIX) and Fidelity Advisor Short-Term Bond Fund Class C (FANCX). 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.

	MWTIX	FANCX	Difference
Sharpe ratio: Return per unit of total volatility	0.88	1.25	-0.37
Sortino ratio: Return per unit of downside risk	1.32	2.08	-0.76
Omega ratio: Gain probability vs. loss probability	1.15	1.28	-0.12
Calmar ratio: Return relative to maximum drawdown	1.11	1.93	-0.82
Martin ratio: Return relative to average drawdown	3.02	5.72	-2.70

MWTIX vs. FANCX - Sharpe Ratio Comparison

The current MWTIX Sharpe Ratio is 0.88, which is comparable to the FANCX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of MWTIX and FANCX, 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

MWTIX vs. FANCX - Drawdown Comparison

The maximum MWTIX drawdown since its inception was -20.58%, which is greater than FANCX's maximum drawdown of -7.79%. Use the drawdown chart below to compare losses from any high point for MWTIX and FANCX.

Drawdown Indicators

	MWTIX	FANCX	Difference
Max Drawdown Largest peak-to-trough decline	-20.58%	-7.79%	-12.79%
Max Drawdown (1Y) Largest decline over 1 year	-3.34%	-1.18%	-2.16%
Max Drawdown (3Y) Largest decline over 3 years	-7.09%	-1.18%	-5.91%
Max Drawdown (5Y) Largest decline over 5 years	-20.51%	-7.24%	-13.27%
Max Drawdown (10Y) Largest decline over 10 years	-20.58%	—	—
Current Drawdown Current decline from peak	-4.36%	-0.46%	-3.90%
Average Drawdown Average peak-to-trough decline	-2.78%	-1.54%	-1.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.23%	0.40%	+0.83%

Volatility

MWTIX vs. FANCX - Volatility Comparison

Metropolitan West Total Return Bond Fund Class I (MWTIX) has a higher volatility of 1.20% compared to Fidelity Advisor Short-Term Bond Fund Class C (FANCX) at 0.64%. This indicates that MWTIX's price experiences larger fluctuations and is considered to be riskier than FANCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MWTIX	FANCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.20%	0.64%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	3.24%	1.36%	+1.88%
Volatility (1Y) Calculated over the trailing 1-year period	4.22%	1.81%	+2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.65%	2.14%	+4.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.34%	1.77%	+3.57%

MWTIX vs. FANCX - Expense Ratio Comparison

MWTIX has a 0.45% expense ratio, which is lower than FANCX's 1.51% expense ratio.

Dividends

MWTIX vs. FANCX - Dividend Comparison

MWTIX's dividend yield for the trailing twelve months is around 4.02%, more than FANCX's 3.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FANCX Fidelity Advisor Short-Term Bond Fund Class C	3.09%	3.20%	2.95%	1.75%	0.15%	0.36%	1.68%	1.00%	0.69%	0.21%	0.07%	0.00%
MWTIX Metropolitan West Total Return Bond Fund Class I	4.02%	3.89%	4.38%	4.11%	2.08%	1.12%	6.48%	3.61%	2.91%	2.14%	3.35%	2.94%

Frequently Asked Questions

Can I hold both MWTIX and FANCX in my portfolio?

MWTIX and FANCX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MWTIX or FANCX?

MWTIX has higher volatility (1.20%) compared to FANCX (0.64%). In terms of maximum drawdown, MWTIX dropped -20.58% vs FANCX's -7.79%.

Which has better risk-adjusted returns?

FANCX currently has the higher Sharpe Ratio (1.25 vs 0.88), 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.