PMDRX vs. FIWGX

Last updated Jul 2, 2026

PMDRX (PIMCO Moderate Duration Fund) and FIWGX (Strategic Advisers Fidelity Core Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, PMDRX returned 1.43%/yr vs 0.27%/yr for FIWGX. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.46% expense ratio.

Performance

PMDRX vs. FIWGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Moderate Duration Fund (PMDRX) and Strategic Advisers Fidelity Core Income Fund (FIWGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMDRX achieves a 0.27% return, which is significantly lower than FIWGX's 0.50% return.

PMDRX

• 1D: 0.11%
• 1M: 0.32%
• 6M: 0.27%
• YTD: 0.27%
• 1Y: 4.10%
• 3Y*: 5.44%
• 5Y*: 1.43%
• 10Y*: 2.34%

FIWGX

• 1D: -0.11%
• 1M: 0.33%
• 6M: 0.50%
• YTD: 0.50%
• 1Y: 3.37%
• 3Y*: 4.40%
• 5Y*: 0.27%
• 10Y*: —

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

PMDRX vs. FIWGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PMDRX PIMCO Moderate Duration Fund	0.27%	8.70%	3.45%	5.50%	-9.21%	-1.26%	7.98%	6.38%	1.26%
FIWGX Strategic Advisers Fidelity Core Income Fund	0.50%	6.90%	2.14%	6.51%	-13.71%	-0.37%	10.21%	9.39%	1.28%

Correlation

The correlation between PMDRX and FIWGX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Oct 24, 2018	0.85

The correlation between PMDRX and FIWGX shifts across timeframes, from 0.74 (1 year) to 0.88 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PMDRX vs. FIWGX — Risk / Return Rank

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

PMDRX

PMDRX Risk / Return Rank: 23
PMDRX Sharpe Ratio Rank: 24
PMDRX Sortino Ratio Rank: 25
PMDRX Omega Ratio Rank: 25
PMDRX Calmar Ratio Rank: 20
PMDRX Martin Ratio Rank: 19

FIWGX

FIWGX Risk / Return Rank: 20
FIWGX Sharpe Ratio Rank: 18
FIWGX Sortino Ratio Rank: 19
FIWGX Omega Ratio Rank: 16
FIWGX Calmar Ratio Rank: 26
FIWGX Martin Ratio Rank: 21

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.

PMDRX vs. FIWGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Moderate Duration Fund (PMDRX) and Strategic Advisers Fidelity Core Income Fund (FIWGX). 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.

	PMDRX	FIWGX	Difference
Sharpe ratio: Return per unit of total volatility	1.13	0.99	+0.14
Sortino ratio: Return per unit of downside risk	1.67	1.49	+0.18
Omega ratio: Gain probability vs. loss probability	1.21	1.17	+0.04
Calmar ratio: Return relative to maximum drawdown	1.29	1.56	-0.28
Martin ratio: Return relative to average drawdown	3.73	4.39	-0.67

PMDRX vs. FIWGX - Sharpe Ratio Comparison

The current PMDRX Sharpe Ratio is 1.13, which is comparable to the FIWGX Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of PMDRX and FIWGX, 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

PMDRX vs. FIWGX - Drawdown Comparison

The maximum PMDRX drawdown since its inception was -13.19%, smaller than the maximum FIWGX drawdown of -18.42%. Use the drawdown chart below to compare losses from any high point for PMDRX and FIWGX.

Drawdown Indicators

	PMDRX	FIWGX	Difference
Max Drawdown Largest peak-to-trough decline	-13.19%	-18.42%	+5.23%
Max Drawdown (1Y) Largest decline over 1 year	-3.12%	-2.52%	-0.60%
Max Drawdown (3Y) Largest decline over 3 years	-3.12%	-6.24%	+3.12%
Max Drawdown (5Y) Largest decline over 5 years	-13.19%	-18.42%	+5.23%
Max Drawdown (10Y) Largest decline over 10 years	-13.19%	—	—
Current Drawdown Current decline from peak	-1.20%	-0.68%	-0.52%
Average Drawdown Average peak-to-trough decline	-1.45%	-4.98%	+3.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	0.88%	+0.20%

Volatility

PMDRX vs. FIWGX - Volatility Comparison

PIMCO Moderate Duration Fund (PMDRX) has a higher volatility of 1.15% compared to Strategic Advisers Fidelity Core Income Fund (FIWGX) at 0.96%. This indicates that PMDRX's price experiences larger fluctuations and is considered to be riskier than FIWGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PMDRX	FIWGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	0.96%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	2.97%	2.81%	+0.16%
Volatility (1Y) Calculated over the trailing 1-year period	3.60%	4.03%	-0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.25%	6.10%	-1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.59%	5.49%	-1.90%

PMDRX vs. FIWGX - Expense Ratio Comparison

Both PMDRX and FIWGX have an expense ratio of 0.46%.

Dividends

PMDRX vs. FIWGX - Dividend Comparison

PMDRX's dividend yield for the trailing twelve months is around 4.60%, more than FIWGX's 3.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIWGX Strategic Advisers Fidelity Core Income Fund	3.43%	3.68%	4.36%	3.79%	2.24%	1.77%	6.83%	4.30%	0.57%	0.00%	0.00%	0.00%
PMDRX PIMCO Moderate Duration Fund	4.60%	4.42%	4.38%	3.76%	3.18%	1.32%	5.16%	2.82%	2.45%	1.75%	2.06%	4.33%

Frequently Asked Questions

Can I hold both PMDRX and FIWGX in my portfolio?

PMDRX and FIWGX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PMDRX or FIWGX?

PMDRX has higher volatility (1.15%) compared to FIWGX (0.96%). In terms of maximum drawdown, PMDRX dropped -13.19% vs FIWGX's -18.42%.

Which has better risk-adjusted returns?

PMDRX currently has the higher Sharpe Ratio (1.13 vs 0.99), 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.