MWTIX vs. FHPFX
MWTIX (Metropolitan West Total Return Bond Fund Class I) and FHPFX (Fidelity Series Investment Grade Securitized Fund) are both Total Bond Market funds. Over the past 5 years, MWTIX returned -0.94%/yr vs 0.30%/yr for FHPFX. Their correlation of 0.91 means they have usually moved in the same direction. MWTIX charges 0.45%/yr vs 0.00%/yr for FHPFX.
Performance
MWTIX vs. FHPFX - Performance Comparison
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Returns By Period
In the year-to-date period, MWTIX achieves a -0.71% return, which is significantly lower than FHPFX's 0.18% return.
MWTIX
- 1D
- 0.00%
- 1M
- -1.10%
- 6M
- -0.98%
- YTD
- -0.71%
- 1Y
- 1.92%
- 3Y*
- 3.67%
- 5Y*
- -0.94%
- 10Y*
- 1.37%
- ALL TIME*
- 4.22%
FHPFX
- 1D
- 0.00%
- 1M
- -1.00%
- 6M
- -0.38%
- YTD
- 0.18%
- 1Y
- 3.69%
- 3Y*
- 4.59%
- 5Y*
- 0.30%
- 10Y*
- —
- ALL TIME*
- 1.78%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MWTIX vs. FHPFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MWTIX Metropolitan West Total Return Bond Fund Class I | -0.71% | 7.51% | 0.77% | 6.02% | -15.49% | -1.32% | 9.00% | 9.10% | 1.13% |
FHPFX Fidelity Series Investment Grade Securitized Fund | 0.18% | 8.76% | 1.81% | 5.29% | -12.28% | -1.06% | 4.84% | 6.69% | 1.41% |
Correlation
The correlation between MWTIX and FHPFX is 0.94, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.94 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2018 | 0.91 |
The correlation between MWTIX and FHPFX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.
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Return for Risk
MWTIX vs. FHPFX — Risk / Return Rank
MWTIX
FHPFX
MWTIX vs. FHPFX - 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 Series Investment Grade Securitized Fund (FHPFX). 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 | FHPFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.22 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.94 | 1.93 | -0.99 |
| Martin ratioReturn relative to average drawdown | 2.30 | 5.26 | -2.97 |
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Drawdowns
MWTIX vs. FHPFX - Drawdown Comparison
The maximum MWTIX drawdown since its inception was -20.58%, which is greater than FHPFX's maximum drawdown of -17.93%. Use the drawdown chart below to compare losses from any high point for MWTIX and FHPFX.
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Drawdown Indicators
| MWTIX | FHPFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.58% | -17.93% | -2.65% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -2.61% | -0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -6.09% | -6.50% | +0.41% |
Max Drawdown (5Y)Largest decline over 5 years | -20.51% | -17.79% | -2.72% |
Max Drawdown (10Y)Largest decline over 10 years | -20.58% | — | — |
Current DrawdownCurrent decline from peak | -4.89% | -1.90% | -2.99% |
Average DrawdownAverage peak-to-trough decline | -2.78% | -4.46% | +1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.36% | 0.96% | +0.40% |
Volatility
MWTIX vs. FHPFX - Volatility Comparison
The current volatility for Metropolitan West Total Return Bond Fund Class I (MWTIX) is 1.04%, while Fidelity Series Investment Grade Securitized Fund (FHPFX) has a volatility of 1.14%. This indicates that MWTIX experiences smaller price fluctuations and is considered to be less risky than FHPFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MWTIX | FHPFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | 1.14% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.29% | 3.11% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 3.99% | +0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.66% | 6.71% | -0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.34% | 5.62% | -0.28% |
MWTIX vs. FHPFX - Expense Ratio Comparison
MWTIX has a 0.45% expense ratio, which is higher than FHPFX's 0.00% expense ratio.
Dividends
MWTIX vs. FHPFX - Dividend Comparison
MWTIX's dividend yield for the trailing twelve months is around 3.75%, less than FHPFX's 4.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHPFX Fidelity Series Investment Grade Securitized Fund | 4.14% | 4.41% | 4.54% | 3.53% | 1.70% | 0.58% | 3.20% | 3.81% | 1.16% | 0.00% | 0.00% | 0.00% |
MWTIX Metropolitan West Total Return Bond Fund Class I | 3.75% | 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
With a correlation of 0.94, MWTIX and FHPFX 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.
FHPFX has higher volatility (1.14%) compared to MWTIX (1.04%). In terms of maximum drawdown, MWTIX dropped -20.58% vs FHPFX's -17.93%.
FHPFX currently has the higher Sharpe Ratio (1.27 vs 0.75), 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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