VMSIX vs. FADMX

Last updated Jun 23, 2026

VMSIX (Vanguard Multi-Sector Income Bond Inv) and FADMX (Fidelity Strategic Income Fund) are both mutual funds - VMSIX is a Multisector Bonds fund actively managed by Vanguard, while FADMX is a Total Bond Market fund managed by Fidelity. Over the past 3 years, VMSIX returned 7.73%/yr vs 8.14%/yr for FADMX. Their correlation of 0.89 suggests significant overlap in exposure. VMSIX charges 0.45%/yr vs 0.66%/yr for FADMX.

Performance

VMSIX vs. FADMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Multi-Sector Income Bond Inv (VMSIX) and Fidelity Strategic Income Fund (FADMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VMSIX achieves a 1.25% return, which is significantly lower than FADMX's 3.46% return.

VMSIX

• 1D: 0.11%
• 1M: 0.68%
• YTD: 1.25%
• 6M: 1.58%
• 1Y: 6.49%
• 3Y*: 7.73%
• 5Y*: —
• 10Y*: —

FADMX

• 1D: 0.33%
• 1M: 1.42%
• YTD: 3.46%
• 6M: 3.95%
• 1Y: 9.63%
• 3Y*: 8.14%
• 5Y*: 3.26%
• 10Y*: —

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

VMSIX vs. FADMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
VMSIX Vanguard Multi-Sector Income Bond Inv	1.25%	9.09%	6.68%	10.43%	-8.50%
FADMX Fidelity Strategic Income Fund	3.46%	9.01%	6.02%	9.55%	-10.12%

Correlation

The correlation between VMSIX and FADMX is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (All Time) Calculated using the full available price history since Feb 1, 2022	0.89

The correlation between VMSIX and FADMX shifts across timeframes, from 0.77 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VMSIX vs. FADMX — Risk / Return Rank

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

VMSIX

VMSIX Risk / Return Rank: 81
VMSIX Sharpe Ratio Rank: 86
VMSIX Sortino Ratio Rank: 88
VMSIX Omega Ratio Rank: 87
VMSIX Calmar Ratio Rank: 65
VMSIX Martin Ratio Rank: 78

FADMX

FADMX Risk / Return Rank: 87
FADMX Sharpe Ratio Rank: 88
FADMX Sortino Ratio Rank: 89
FADMX Omega Ratio Rank: 87
FADMX Calmar Ratio Rank: 83
FADMX Martin Ratio Rank: 89

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.

VMSIX vs. FADMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Multi-Sector Income Bond Inv (VMSIX) 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.

	VMSIX	FADMX	Difference
Sharpe ratio: Return per unit of total volatility	2.61	2.66	-0.05
Sortino ratio: Return per unit of downside risk	3.91	3.99	-0.08
Omega ratio: Gain probability vs. loss probability	1.56	1.56	0.00
Calmar ratio: Return relative to maximum drawdown	2.96	3.69	-0.73
Martin ratio: Return relative to average drawdown	13.55	16.01	-2.46

VMSIX vs. FADMX - Sharpe Ratio Comparison

The current VMSIX Sharpe Ratio is 2.61, which is comparable to the FADMX Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of VMSIX and FADMX, 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

VMSIX vs. FADMX - Drawdown Comparison

The maximum VMSIX drawdown since its inception was -13.11%, smaller than the maximum FADMX drawdown of -15.98%. Use the drawdown chart below to compare losses from any high point for VMSIX and FADMX.

Drawdown Indicators

	VMSIX	FADMX	Difference
Max Drawdown Largest peak-to-trough decline	-13.11%	-15.98%	+2.87%
Max Drawdown (1Y) Largest decline over 1 year	-2.20%	-2.62%	+0.42%
Max Drawdown (3Y) Largest decline over 3 years	-3.82%	-3.99%	+0.17%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.98%	—
Current Drawdown Current decline from peak	-0.11%	0.00%	-0.11%
Average Drawdown Average peak-to-trough decline	-3.05%	-3.05%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	0.60%	-0.12%

Volatility

VMSIX vs. FADMX - Volatility Comparison

The current volatility for Vanguard Multi-Sector Income Bond Inv (VMSIX) is 0.78%, while Fidelity Strategic Income Fund (FADMX) has a volatility of 1.41%. This indicates that VMSIX 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

	VMSIX	FADMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.78%	1.41%	-0.63%
Volatility (6M) Calculated over the trailing 6-month period	2.05%	3.08%	-1.03%
Volatility (1Y) Calculated over the trailing 1-year period	2.50%	3.63%	-1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.68%	4.54%	+0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.68%	4.77%	-0.09%

VMSIX vs. FADMX - Expense Ratio Comparison

VMSIX has a 0.45% expense ratio, which is lower than FADMX's 0.66% expense ratio.

Dividends

VMSIX vs. FADMX - Dividend Comparison

VMSIX's dividend yield for the trailing twelve months is around 5.44%, 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%
VMSIX Vanguard Multi-Sector Income Bond Inv	5.44%	5.56%	6.37%	5.43%	3.66%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VMSIX and FADMX in my portfolio?

VMSIX and FADMX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VMSIX or FADMX?

FADMX has higher volatility (1.41%) compared to VMSIX (0.78%). In terms of maximum drawdown, VMSIX dropped -13.11% vs FADMX's -15.98%.

Which has better risk-adjusted returns?

FADMX currently has the higher Sharpe Ratio (2.66 vs 2.61), 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.