VUSSX vs. FIQTX

Last updated Jun 5, 2026

VUSSX (Invesco Quality Income Fund Class R6) and FIQTX (Fidelity Advisor High Income Advantage Fund Class Z) are both mutual funds - VUSSX is a Mortgage Backed Securities fund actively managed by Invesco, while FIQTX is a High Yield Bonds fund managed by Fidelity. Over the past 5 years, VUSSX returned 0.20%/yr vs 6.74%/yr for FIQTX. At a 0.22 correlation, their price movements are largely independent. VUSSX charges 0.53%/yr vs 0.64%/yr for FIQTX.

Performance

VUSSX vs. FIQTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Quality Income Fund Class R6 (VUSSX) and Fidelity Advisor High Income Advantage Fund Class Z (FIQTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VUSSX achieves a 0.32% return, which is significantly lower than FIQTX's 7.38% return.

VUSSX

• 1D: -0.30%
• 1M: 0.03%
• YTD: 0.32%
• 6M: 0.64%
• 1Y: 5.93%
• 3Y*: 4.38%
• 5Y*: 0.20%
• 10Y*: —

FIQTX

• 1D: -0.24%
• 1M: 1.66%
• YTD: 7.38%
• 6M: 8.05%
• 1Y: 16.59%
• 3Y*: 12.64%
• 5Y*: 6.74%
• 10Y*: —

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

VUSSX vs. FIQTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VUSSX Invesco Quality Income Fund Class R6	0.32%	8.61%	1.38%	4.81%	-12.14%	-1.37%	5.79%	6.37%	2.51%
FIQTX Fidelity Advisor High Income Advantage Fund Class Z	7.38%	12.17%	10.38%	12.37%	-11.16%	11.13%	9.06%	17.93%	-6.84%

Correlation

The correlation between VUSSX and FIQTX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (All Time) Calculated using the full available price history since Oct 18, 2018	0.22

The correlation between VUSSX and FIQTX shifts across timeframes, from 0.22 (all time) to 0.32 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

VUSSX vs. FIQTX — Risk / Return Rank

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

VUSSX

VUSSX Risk / Return Rank: 32
VUSSX Sharpe Ratio Rank: 32
VUSSX Sortino Ratio Rank: 35
VUSSX Omega Ratio Rank: 31
VUSSX Calmar Ratio Rank: 33
VUSSX Martin Ratio Rank: 31

FIQTX

FIQTX Risk / Return Rank: 91
FIQTX Sharpe Ratio Rank: 90
FIQTX Sortino Ratio Rank: 90
FIQTX Omega Ratio Rank: 86
FIQTX Calmar Ratio Rank: 94
FIQTX Martin Ratio Rank: 95

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.

VUSSX vs. FIQTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Quality Income Fund Class R6 (VUSSX) and Fidelity Advisor High Income Advantage Fund Class Z (FIQTX). 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.

	VUSSX	FIQTX	Difference
Sharpe ratio: Return per unit of total volatility	1.56	3.03	-1.46
Sortino ratio: Return per unit of downside risk	2.36	4.44	-2.08
Omega ratio: Gain probability vs. loss probability	1.28	1.60	-0.32
Calmar ratio: Return relative to maximum drawdown	2.10	5.37	-3.26
Martin ratio: Return relative to average drawdown	6.86	22.76	-15.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VUSSX vs. FIQTX - Sharpe Ratio Comparison

The current VUSSX Sharpe Ratio is 1.56, which is lower than the FIQTX Sharpe Ratio of 3.03. The chart below compares the historical Sharpe Ratios of VUSSX and FIQTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VUSSX	FIQTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	3.03	-1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	1.06	-1.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.93	-0.63

Drawdowns

VUSSX vs. FIQTX - Drawdown Comparison

The maximum VUSSX drawdown since its inception was -18.43%, smaller than the maximum FIQTX drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for VUSSX and FIQTX.

Drawdown Indicators

	VUSSX	FIQTX	Difference
Max Drawdown Largest peak-to-trough decline	-18.43%	-28.49%	+10.06%
Max Drawdown (1Y) Largest decline over 1 year	-3.21%	-3.12%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	-7.58%	-6.96%	-0.62%
Max Drawdown (5Y) Largest decline over 5 years	-17.85%	-15.16%	-2.69%
Current Drawdown Current decline from peak	-1.79%	-0.24%	-1.55%
Average Drawdown Average peak-to-trough decline	-4.55%	-3.30%	-1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	0.74%	+0.24%

Volatility

VUSSX vs. FIQTX - Volatility Comparison

The current volatility for Invesco Quality Income Fund Class R6 (VUSSX) is 1.57%, while Fidelity Advisor High Income Advantage Fund Class Z (FIQTX) has a volatility of 1.71%. This indicates that VUSSX experiences smaller price fluctuations and is considered to be less risky than FIQTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VUSSX	FIQTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.57%	1.71%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	3.13%	4.40%	-1.27%
Volatility (1Y) Calculated over the trailing 1-year period	4.33%	5.58%	-1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.47%	6.40%	+0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.16%	8.36%	-3.20%

VUSSX vs. FIQTX - Expense Ratio Comparison

VUSSX has a 0.53% expense ratio, which is lower than FIQTX's 0.64% expense ratio.

Dividends

VUSSX vs. FIQTX - Dividend Comparison

VUSSX's dividend yield for the trailing twelve months is around 3.84%, less than FIQTX's 4.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIQTX Fidelity Advisor High Income Advantage Fund Class Z	4.49%	4.83%	5.06%	4.79%	7.43%	5.01%	3.80%	4.61%	2.54%	0.00%
VUSSX Invesco Quality Income Fund Class R6	3.84%	3.69%	4.30%	3.20%	3.37%	3.49%	4.00%	4.09%	4.27%	2.78%

Frequently Asked Questions

Can I hold both VUSSX and FIQTX in my portfolio?

VUSSX and FIQTX 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, VUSSX or FIQTX?

FIQTX has higher volatility (1.71%) compared to VUSSX (1.57%). In terms of maximum drawdown, VUSSX dropped -18.43% vs FIQTX's -28.49%.

Which has better risk-adjusted returns?

FIQTX currently has the higher Sharpe Ratio (3.03 vs 1.56), 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.