PIPNX vs. FADMX
PIPNX (PIMCO Income Fund Class I-3) and FADMX (Fidelity Strategic Income Fund) are both mutual funds - PIPNX is a Multisector Bonds fund managed by PIMCO, while FADMX is a Total Bond Market fund managed by Fidelity. Over the past 5 years, PIPNX returned 3.14%/yr vs 3.23%/yr for FADMX. A 0.77 correlation means they provide meaningful diversification when combined. PIPNX charges 0.77%/yr vs 0.66%/yr for FADMX.
Performance
PIPNX vs. FADMX - Performance Comparison
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Returns By Period
In the year-to-date period, PIPNX achieves a 0.66% return, which is significantly lower than FADMX's 3.37% return.
PIPNX
- 1D
- -0.28%
- 1M
- 0.90%
- YTD
- 0.66%
- 6M
- 1.24%
- 1Y
- 7.12%
- 3Y*
- 7.26%
- 5Y*
- 3.14%
- 10Y*
- —
FADMX
- 1D
- -0.08%
- 1M
- 1.34%
- YTD
- 3.37%
- 6M
- 3.78%
- 1Y
- 9.26%
- 3Y*
- 8.21%
- 5Y*
- 3.23%
- 10Y*
- —
PIPNX vs. FADMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PIPNX PIMCO Income Fund Class I-3 | 0.66% | 10.91% | 5.32% | 8.08% | -9.14% | 2.50% | 5.68% | 7.92% | 1.22% |
FADMX Fidelity Strategic Income Fund | 3.37% | 9.01% | 6.02% | 9.55% | -11.84% | 3.46% | 6.72% | 11.06% | -2.02% |
Correlation
The correlation between PIPNX and FADMX is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2018 | 0.77 |
The correlation between PIPNX and FADMX has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.
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Return for Risk
PIPNX vs. FADMX — Risk / Return Rank
PIPNX
FADMX
PIPNX vs. FADMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Fund Class I-3 (PIPNX) 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.
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.
| PIPNX | FADMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.55 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | 3.66 | -1.63 |
| Martin ratioReturn relative to average drawdown | 6.78 | 15.86 | -9.08 |
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Drawdowns
PIPNX vs. FADMX - Drawdown Comparison
The maximum PIPNX drawdown since its inception was -13.42%, smaller than the maximum FADMX drawdown of -15.98%. Use the drawdown chart below to compare losses from any high point for PIPNX and FADMX.
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Drawdown Indicators
| PIPNX | FADMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.42% | -15.98% | +2.56% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -2.62% | -1.07% |
Max Drawdown (3Y)Largest decline over 3 years | -3.95% | -3.99% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -13.42% | -15.98% | +2.56% |
Current DrawdownCurrent decline from peak | -1.24% | -0.08% | -1.16% |
Average DrawdownAverage peak-to-trough decline | -2.39% | -3.05% | +0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 0.60% | +0.50% |
Volatility
PIPNX vs. FADMX - Volatility Comparison
PIMCO Income Fund Class I-3 (PIPNX) and Fidelity Strategic Income Fund (FADMX) have volatilities of 1.34% and 1.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIPNX | FADMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | 1.35% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.39% | 3.06% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.17% | 3.64% | +0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.85% | 4.54% | +0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.56% | 4.77% | -0.21% |
PIPNX vs. FADMX - Expense Ratio Comparison
PIPNX has a 0.77% expense ratio, which is higher than FADMX's 0.66% expense ratio.
Dividends
PIPNX vs. FADMX - Dividend Comparison
PIPNX's dividend yield for the trailing twelve months is around 5.69%, more than FADMX's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FADMX Fidelity Strategic Income Fund | 4.28% | 4.33% | 4.16% | 4.31% | 2.91% | 4.23% | 3.82% | 4.34% | 2.74% |
PIPNX PIMCO Income Fund Class I-3 | 5.69% | 5.86% | 6.15% | 5.08% | 4.89% | 3.91% | 4.73% | 5.66% | 3.66% |
Frequently Asked Questions
PIPNX and FADMX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FADMX has higher volatility (1.35%) compared to PIPNX (1.34%). In terms of maximum drawdown, PIPNX dropped -13.42% vs FADMX's -15.98%.
FADMX currently has the higher Sharpe Ratio (2.63 vs 1.80), 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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