PRCHX vs. FCSRX

Last updated Aug 1, 2026

PRCHX (T. Rowe Price Capital Appreciation and Income Fund Class I) and FCSRX (Fidelity Advisor Strategic Real Return Fund Class C) are both Diversified Portfolio funds. Over the past year, PRCHX returned 9.64% vs 12.24% for FCSRX. Their 0.48 correlation means their historical movements had little consistent relationship. PRCHX charges 0.49%/yr vs 1.70%/yr for FCSRX.

Performance

PRCHX vs. FCSRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Capital Appreciation and Income Fund Class I (PRCHX) and Fidelity Advisor Strategic Real Return Fund Class C (FCSRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRCHX achieves a 3.27% return, which is significantly lower than FCSRX's 6.55% return.

PRCHX

• 1D: 0.74%
• 1M: -0.33%
• 6M: 2.91%
• YTD: 3.27%
• 1Y: 9.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.94%

FCSRX

• 1D: 0.00%
• 1M: 0.77%
• 6M: 2.98%
• YTD: 6.55%
• 1Y: 12.24%
• 3Y*: 7.14%
• 5Y*: 4.52%
• 10Y*: 4.42%
• ALL TIME*: 2.96%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCSRX Fidelity Advisor Strategic Real Return Fund Class C	$0.00	$0.00	$0.00
PRCHX T. Rowe Price Capital Appreciation and Income Fund Class I	$0.00	$0.00	$0.00

PRCHX vs. FCSRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PRCHX T. Rowe Price Capital Appreciation and Income Fund Class I	3.27%	13.68%	8.92%	3.12%
FCSRX Fidelity Advisor Strategic Real Return Fund Class C	6.55%	9.27%	4.75%	2.29%

Correlation

The correlation between PRCHX and FCSRX is 0.28, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.28
Correlation (All Time) Calculated using the full available price history since Nov 30, 2023	0.48

The correlation between PRCHX and FCSRX shifts across timeframes, from 0.28 (1 year) to 0.48 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PRCHX vs. FCSRX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PRCHX

PRCHX Risk / Return Rank: 68
PRCHX Sharpe Ratio Rank: 69
PRCHX Sortino Ratio Rank: 67
PRCHX Omega Ratio Rank: 68
PRCHX Calmar Ratio Rank: 59
PRCHX Martin Ratio Rank: 79

FCSRX

FCSRX Risk / Return Rank: 89
FCSRX Sharpe Ratio Rank: 93
FCSRX Sortino Ratio Rank: 89
FCSRX Omega Ratio Rank: 89
FCSRX Calmar Ratio Rank: 90
FCSRX Martin Ratio Rank: 84

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PRCHX vs. FCSRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Capital Appreciation and Income Fund Class I (PRCHX) and Fidelity Advisor Strategic Real Return Fund Class C (FCSRX). 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.

	PRCHX	FCSRX	Difference
Sharpe ratio: Return per unit of total volatility	1.66	2.44	-0.78
Sortino ratio: Return per unit of downside risk	2.36	3.32	-0.97
Omega ratio: Gain probability vs. loss probability	1.30	1.47	-0.16
Calmar ratio: Return relative to maximum drawdown	2.10	3.36	-1.26
Martin ratio: Return relative to average drawdown	9.85	10.54	-0.69

PRCHX vs. FCSRX - Sharpe Ratio Comparison

The current PRCHX Sharpe Ratio is 1.66, which is lower than the FCSRX Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of PRCHX and FCSRX, 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

PRCHX vs. FCSRX - Drawdown Comparison

The maximum PRCHX drawdown since its inception was -6.10%, smaller than the maximum FCSRX drawdown of -33.91%. Use the drawdown chart below to compare losses from any high point for PRCHX and FCSRX.

Drawdown Indicators

	PRCHX	FCSRX	Difference
Max Drawdown Largest peak-to-trough decline	-6.10%	-33.91%	+27.81%
Max Drawdown (1Y) Largest decline over 1 year	-4.50%	-3.50%	-1.00%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.85%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.22%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-20.02%	—
Current Drawdown Current decline from peak	-1.00%	-2.33%	+1.33%
Average Drawdown Average peak-to-trough decline	-0.65%	-5.07%	+4.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	1.11%	-0.15%

Volatility

PRCHX vs. FCSRX - Volatility Comparison

T. Rowe Price Capital Appreciation and Income Fund Class I (PRCHX) and Fidelity Advisor Strategic Real Return Fund Class C (FCSRX) have volatilities of 1.64% and 1.62%, 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.

Volatility by Period

	PRCHX	FCSRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.64%	1.62%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	4.68%	3.78%	+0.90%
Volatility (1Y) Calculated over the trailing 1-year period	5.69%	4.88%	+0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.53%	6.90%	-0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.53%	6.71%	-0.18%

PRCHX vs. FCSRX - Expense Ratio Comparison

PRCHX has a 0.49% expense ratio, which is lower than FCSRX's 1.70% expense ratio.

Dividends

PRCHX vs. FCSRX - Dividend Comparison

PRCHX's dividend yield for the trailing twelve months is around 4.44%, more than FCSRX's 2.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCSRX Fidelity Advisor Strategic Real Return Fund Class C	2.54%	3.74%	3.86%	4.35%	6.51%	4.53%	1.32%	2.20%	8.51%	1.58%	1.34%	0.66%
PRCHX T. Rowe Price Capital Appreciation and Income Fund Class I	4.44%	5.08%	3.22%	0.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PRCHX and FCSRX in my portfolio?

PRCHX and FCSRX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRCHX or FCSRX?

PRCHX has higher volatility (1.64%) compared to FCSRX (1.62%). In terms of maximum drawdown, PRCHX dropped -6.10% vs FCSRX's -33.91%.

Which has better risk-adjusted returns?

FCSRX currently has the higher Sharpe Ratio (2.44 vs 1.66), 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.