NWQIX vs. FSRRX
NWQIX (Nuveen Flexible Income Fund) and FSRRX (Fidelity Strategic Real Return Fund) are both Diversified Portfolio funds. Over the past 10 years, NWQIX returned 5.68%/yr vs 5.64%/yr for FSRRX. A 0.53 correlation means they provide meaningful diversification when combined. Both charge a 0.70% expense ratio.
Performance
NWQIX vs. FSRRX - Performance Comparison
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Returns By Period
In the year-to-date period, NWQIX achieves a 5.19% return, which is significantly lower than FSRRX's 8.69% return. Both investments have delivered pretty close results over the past 10 years, with NWQIX having a 5.68% annualized return and FSRRX not far behind at 5.64%.
NWQIX
- 1D
- 0.15%
- 1M
- 1.57%
- YTD
- 5.19%
- 6M
- 6.53%
- 1Y
- 15.18%
- 3Y*
- 10.84%
- 5Y*
- 4.54%
- 10Y*
- 5.68%
FSRRX
- 1D
- 0.21%
- 1M
- 0.10%
- YTD
- 8.69%
- 6M
- 9.04%
- 1Y
- 16.60%
- 3Y*
- 10.12%
- 5Y*
- 6.34%
- 10Y*
- 5.64%
NWQIX vs. FSRRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NWQIX Nuveen Flexible Income Fund | 5.19% | 12.22% | 6.03% | 11.61% | -13.64% | 4.94% | 5.54% | 18.57% | -4.07% | 9.18% |
FSRRX Fidelity Strategic Real Return Fund | 8.69% | 10.45% | 5.84% | 4.59% | -3.34% | 15.84% | 3.74% | 10.48% | -3.99% | 3.00% |
Correlation
The correlation between NWQIX and FSRRX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2010 | 0.53 |
Over the past year, the correlation between NWQIX and FSRRX has dropped to 0.32 - well below their long-term average of 0.53, suggesting their price drivers have been diverging.
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Return for Risk
NWQIX vs. FSRRX — Risk / Return Rank
NWQIX
FSRRX
NWQIX vs. FSRRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Flexible Income Fund (NWQIX) and Fidelity Strategic Real Return Fund (FSRRX). 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.
| NWQIX | FSRRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.93 | 1.71 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 5.31 | 8.14 | -2.83 |
| Martin ratioReturn relative to average drawdown | 25.30 | 32.01 | -6.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NWQIX | FSRRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.06 | 3.55 | +0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | 0.93 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.90 | 0.84 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.59 | +0.17 |
Drawdowns
NWQIX vs. FSRRX - Drawdown Comparison
The maximum NWQIX drawdown since its inception was -23.89%, smaller than the maximum FSRRX drawdown of -33.42%. Use the drawdown chart below to compare losses from any high point for NWQIX and FSRRX.
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Drawdown Indicators
| NWQIX | FSRRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.89% | -33.42% | +9.53% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -2.05% | -0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -4.59% | -5.80% | +1.21% |
Max Drawdown (5Y)Largest decline over 5 years | -17.75% | -12.78% | -4.97% |
Max Drawdown (10Y)Largest decline over 10 years | -23.89% | -19.93% | -3.96% |
Current DrawdownCurrent decline from peak | 0.00% | -0.72% | +0.72% |
Average DrawdownAverage peak-to-trough decline | -3.01% | -4.21% | +1.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 0.52% | +0.09% |
Volatility
NWQIX vs. FSRRX - Volatility Comparison
The current volatility for Nuveen Flexible Income Fund (NWQIX) is 1.22%, while Fidelity Strategic Real Return Fund (FSRRX) has a volatility of 1.30%. This indicates that NWQIX experiences smaller price fluctuations and is considered to be less risky than FSRRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NWQIX | FSRRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.30% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.06% | 3.68% | -0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.85% | 4.71% | -0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.68% | 6.88% | -1.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.33% | 6.73% | -0.40% |
NWQIX vs. FSRRX - Expense Ratio Comparison
Both NWQIX and FSRRX have an expense ratio of 0.70%.
Dividends
NWQIX vs. FSRRX - Dividend Comparison
NWQIX's dividend yield for the trailing twelve months is around 5.93%, more than FSRRX's 4.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSRRX Fidelity Strategic Real Return Fund | 4.13% | 4.68% | 4.82% | 5.29% | 7.31% | 5.35% | 2.25% | 3.05% | 9.39% | 1.57% | 2.34% | 1.75% |
NWQIX Nuveen Flexible Income Fund | 5.93% | 6.52% | 5.20% | 7.84% | 7.02% | 4.39% | 4.82% | 5.71% | 6.23% | 5.67% | 5.52% | 5.70% |
Frequently Asked Questions
NWQIX and FSRRX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSRRX has higher volatility (1.30%) compared to NWQIX (1.22%). In terms of maximum drawdown, NWQIX dropped -23.89% vs FSRRX's -33.42%.
NWQIX currently has the higher Sharpe Ratio (4.06 vs 3.55), 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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