SMARX vs. FCBAX
Compare and contrast key facts about Brandes Separately Managed Account Reserve Trust (SMARX) and Fidelity Advisor Corporate Bond Fund Class A (FCBAX).
SMARX is managed by BlackRock. It was launched on Oct 3, 2005. FCBAX is managed by Fidelity. It was launched on May 4, 2010.
Performance
SMARX vs. FCBAX - Performance Comparison
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SMARX vs. FCBAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMARX Brandes Separately Managed Account Reserve Trust | -0.30% | 6.91% | 3.73% | 9.76% | -11.77% | 0.76% | 6.55% | 7.77% | -1.13% | 4.75% |
FCBAX Fidelity Advisor Corporate Bond Fund Class A | -1.25% | 7.51% | 2.21% | 8.10% | -17.32% | -1.85% | 10.46% | 14.11% | -2.90% | 6.47% |
Returns By Period
In the year-to-date period, SMARX achieves a -0.30% return, which is significantly higher than FCBAX's -1.25% return. Over the past 10 years, SMARX has outperformed FCBAX with an annualized return of 3.34%, while FCBAX has yielded a comparatively lower 2.48% annualized return.
SMARX
- 1D
- 0.64%
- 1M
- -1.99%
- YTD
- -0.30%
- 6M
- 0.49%
- 1Y
- 3.99%
- 3Y*
- 5.18%
- 5Y*
- 1.98%
- 10Y*
- 3.34%
FCBAX
- 1D
- 0.57%
- 1M
- -2.76%
- YTD
- -1.25%
- 6M
- -0.55%
- 1Y
- 3.77%
- 3Y*
- 4.28%
- 5Y*
- 0.03%
- 10Y*
- 2.48%
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SMARX vs. FCBAX - Expense Ratio Comparison
SMARX has a 0.00% expense ratio, which is lower than FCBAX's 0.77% expense ratio.
Return for Risk
SMARX vs. FCBAX — Risk / Return Rank
SMARX
FCBAX
SMARX vs. FCBAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Brandes Separately Managed Account Reserve Trust (SMARX) and Fidelity Advisor Corporate Bond Fund Class A (FCBAX). 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.
| SMARX | FCBAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.14 | 0.91 | +0.23 |
Sortino ratioReturn per unit of downside risk | 1.63 | 1.27 | +0.36 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.16 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.89 | 1.45 | +0.43 |
Martin ratioReturn relative to average drawdown | 6.07 | 4.62 | +1.45 |
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
| SMARX | FCBAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.14 | 0.91 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.01 | +0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | 0.42 | +0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.63 | -0.22 |
Correlation
The correlation between SMARX and FCBAX is 0.77, 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
SMARX vs. FCBAX - Dividend Comparison
SMARX's dividend yield for the trailing twelve months is around 4.71%, more than FCBAX's 3.56% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMARX Brandes Separately Managed Account Reserve Trust | 4.71% | 5.02% | 4.07% | 3.85% | 3.53% | 2.57% | 3.35% | 4.19% | 4.55% | 4.20% | 4.87% | 5.24% |
FCBAX Fidelity Advisor Corporate Bond Fund Class A | 3.56% | 3.79% | 3.35% | 3.13% | 2.27% | 2.55% | 3.09% | 2.96% | 3.29% | 2.83% | 3.19% | 2.69% |
Drawdowns
SMARX vs. FCBAX - Drawdown Comparison
The maximum SMARX drawdown since its inception was -47.07%, which is greater than FCBAX's maximum drawdown of -23.56%. Use the drawdown chart below to compare losses from any high point for SMARX and FCBAX.
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Drawdown Indicators
| SMARX | FCBAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.07% | -23.56% | -23.51% |
Max Drawdown (1Y)Largest decline over 1 year | -2.63% | -3.31% | +0.68% |
Max Drawdown (5Y)Largest decline over 5 years | -16.20% | -23.44% | +7.24% |
Max Drawdown (10Y)Largest decline over 10 years | -16.20% | -23.56% | +7.36% |
Current DrawdownCurrent decline from peak | -1.99% | -4.81% | +2.82% |
Average DrawdownAverage peak-to-trough decline | -7.02% | -4.34% | -2.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 1.04% | -0.22% |
Volatility
SMARX vs. FCBAX - Volatility Comparison
The current volatility for Brandes Separately Managed Account Reserve Trust (SMARX) is 1.66%, while Fidelity Advisor Corporate Bond Fund Class A (FCBAX) has a volatility of 1.85%. This indicates that SMARX experiences smaller price fluctuations and is considered to be less risky than FCBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMARX | FCBAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 1.85% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.56% | 2.87% | -0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.03% | 4.78% | -0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.12% | 6.68% | -1.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.37% | 5.93% | -1.56% |