PHIYX vs. FADMX

Last updated Apr 2, 2026

Compare and contrast key facts about PIMCO High Yield Fund (PHIYX) and Fidelity Strategic Income Fund (FADMX).

PHIYX is managed by PIMCO. It was launched on Dec 15, 1992. FADMX is managed by Fidelity. It was launched on Oct 31, 1994.

Performance

PHIYX vs. FADMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO High Yield Fund (PHIYX) and Fidelity Strategic Income Fund (FADMX). The values are adjusted to include any dividend payments, if applicable.

PHIYX vs. FADMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PHIYX PIMCO High Yield Fund	-1.31%	8.60%	6.81%	12.83%	-11.96%	4.07%	5.37%	14.96%	-1.62%
FADMX Fidelity Strategic Income Fund	-0.31%	9.01%	6.07%	9.55%	-11.84%	3.46%	6.72%	11.06%	-2.02%

Returns By Period

In the year-to-date period, PHIYX achieves a -1.31% return, which is significantly lower than FADMX's -0.31% return.

PHIYX

• 1D: 0.63%
• 1M: -1.60%
• YTD: -1.31%
• 6M: 0.52%
• 1Y: 5.80%
• 3Y*: 7.49%
• 5Y*: 3.36%
• 10Y*: 5.08%

FADMX

• 1D: 0.59%
• 1M: -1.88%
• YTD: -0.31%
• 6M: 0.90%
• 1Y: 7.44%
• 3Y*: 6.98%
• 5Y*: 2.87%
• 10Y*: —

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

PHIYX vs. FADMX - Expense Ratio Comparison

PHIYX has a 0.56% expense ratio, which is lower than FADMX's 0.66% expense ratio.

FADMX

Fidelity Strategic Income Fund

PHIYX

PIMCO High Yield Fund

Return for Risk

PHIYX vs. FADMX — Risk / Return Rank

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

PHIYX

PHIYX Risk / Return Rank: 83
PHIYX Sharpe Ratio Rank: 83
PHIYX Sortino Ratio Rank: 86
PHIYX Omega Ratio Rank: 85
PHIYX Calmar Ratio Rank: 82
PHIYX Martin Ratio Rank: 81

FADMX

FADMX Risk / Return Rank: 94
FADMX Sharpe Ratio Rank: 94
FADMX Sortino Ratio Rank: 94
FADMX Omega Ratio Rank: 92
FADMX Calmar Ratio Rank: 94
FADMX Martin Ratio Rank: 94

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.

PHIYX vs. FADMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO High Yield Fund (PHIYX) and Fidelity Strategic Income Fund (FADMX). 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.

	PHIYX	FADMX	Difference
Sharpe ratio Return per unit of total volatility	1.63	2.20	-0.57
Sortino ratio Return per unit of downside risk	2.35	3.08	-0.73
Omega ratio Gain probability vs. loss probability	1.36	1.44	-0.08
Calmar ratio Return relative to maximum drawdown	2.07	3.13	-1.06
Martin ratio Return relative to average drawdown	8.46	12.17	-3.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PHIYX vs. FADMX - Sharpe Ratio Comparison

The current PHIYX Sharpe Ratio is 1.63, which is comparable to the FADMX Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of PHIYX and FADMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PHIYX	FADMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.63	2.20	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.65	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.91	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	0.79	+0.51

Correlation

The correlation between PHIYX and FADMX is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PHIYX vs. FADMX - Dividend Comparison

PHIYX's dividend yield for the trailing twelve months is around 5.84%, more than FADMX's 4.04% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PHIYX PIMCO High Yield Fund	5.84%	6.19%	6.18%	5.62%	6.01%	4.53%	4.55%	5.04%	5.63%	5.11%	5.37%	8.79%
FADMX Fidelity Strategic Income Fund	4.04%	4.33%	4.21%	4.31%	2.91%	4.23%	3.82%	4.34%	2.74%	0.00%	0.00%	0.00%

Drawdowns

PHIYX vs. FADMX - Drawdown Comparison

The maximum PHIYX drawdown since its inception was -32.73%, which is greater than FADMX's maximum drawdown of -15.98%. Use the drawdown chart below to compare losses from any high point for PHIYX and FADMX.

Drawdown Indicators

	PHIYX	FADMX	Difference
Max Drawdown Largest peak-to-trough decline	-32.73%	-15.98%	-16.75%
Max Drawdown (1Y) Largest decline over 1 year	-3.00%	-2.62%	-0.38%
Max Drawdown (5Y) Largest decline over 5 years	-15.74%	-15.98%	+0.24%
Max Drawdown (10Y) Largest decline over 10 years	-20.30%	—	—
Current Drawdown Current decline from peak	-1.84%	-2.04%	+0.20%
Average Drawdown Average peak-to-trough decline	-2.18%	-3.12%	+0.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.73%	0.67%	+0.06%

Volatility

PHIYX vs. FADMX - Volatility Comparison

The current volatility for PIMCO High Yield Fund (PHIYX) is 1.46%, while Fidelity Strategic Income Fund (FADMX) has a volatility of 1.69%. This indicates that PHIYX experiences smaller price fluctuations and is considered to be less risky than FADMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PHIYX	FADMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.46%	1.69%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	2.40%	2.44%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	3.77%	3.58%	+0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.25%	4.44%	+0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.62%	4.77%	+0.85%