First Trust Short Duration High Income Fund (FDHIX) belongs to the Bank Loan category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with FDHIX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FDHIX
FDHIX charges 1.01% annually. There are 41 mutual funds in the Bank Loan category with lower expense ratios, going as low as 0.41%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | 0.41% | — | Jan 2017 | FDHIX vs XPTFX | |
| Eaton Vance Floating-Rate Advantage Fund | 0.47% | — | Mar 2008 | FDHIX vs EIFAX | |
| Shenkman Capital Floating Rate High Income Fund | 0.54% | — | Oct 2014 | FDHIX vs SFHIX | |
| T. Rowe Price Institutional Floating Rate Fund | 0.57% | — | Jan 2008 | FDHIX vs RPIFX | |
| Lord Abbett Floating Rate Fund | 0.60% | — | Dec 2007 | FDHIX vs LFRIX |
Best Risk-Adjusted Alternatives to FDHIX
FDHIX has a PortfoliosLab risk / return rank of 39. There are 45 mutual funds in the Bank Loan category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| RiverPark Floating Rate CMBS Fund | 100 | — | Sep 2016 | FDHIX vs RCRIX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 98 | — | Jun 2023 | FDHIX vs CAPIX | |
| Payden Floating Rate Fund | 98 | — | Nov 2013 | FDHIX vs PYFRX | |
| Virtus Seix Floating Rate High Income Fund | 97 | — | Feb 2006 | FDHIX vs SAMBX | |
| PGIM Floating Rate Income Fund | 96 | — | Mar 2011 | FDHIX vs FRFZX |
Top Performing FDHIX Alternatives (YTD)
FDHIX is at 0.09% YTD. There are 55 mutual funds in the Bank Loan category with higher YTD returns, going as high as 3.74%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Victory Floating Rate Fund | 3.74% | — | Dec 2009 | FDHIX vs RSFYX | |
| Federated Hermes Project and Trade Finance Tender ... | 3.43% | — | Jan 2017 | FDHIX vs XPTFX | |
| Credit Suisse Floating Rate High Income Fund | 3.03% | — | Mar 1999 | FDHIX vs CHIAX | |
| Virtus Seix Floating Rate High Income Fund | 2.89% | — | Feb 2006 | FDHIX vs SAMBX | |
| PGIM Floating Rate Income Fund | 2.82% | — | Mar 2011 | FDHIX vs FRFZX |
Lowest Volatility Alternatives to FDHIX
FDHIX has 2.90% 1-year volatility. There are 47 mutual funds in the Bank Loan category with lower 1-year volatility, going as low as 0.77%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| RiverPark Floating Rate CMBS Fund | 0.77% | — | Sep 2016 | FDHIX vs RCRIX | |
| Payden Floating Rate Fund | 1.25% | — | Nov 2013 | FDHIX vs PYFRX | |
| BNY Mellon Floating Rate Income Fund | 1.35% | — | Sep 2013 | FDHIX vs DFLYX | |
| Dunham Floating Rate Bond Fund | 1.67% | — | Oct 2013 | FDHIX vs DAFRX | |
| Donoghue Forlines Risk Managed Income Fund | 1.68% | — | Dec 2017 | FDHIX vs FLOTX |
Lowest Drawdown Alternatives to FDHIX
FDHIX has a 1-year max drawdown of -3.21%. There are 53 mutual funds in the Bank Loan category with shallower 1-year drawdowns, going as shallow as -0.19%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| RiverPark Floating Rate CMBS Fund | -0.19% | — | Sep 2016 | FDHIX vs RCRIX | |
| Virtus Seix Floating Rate High Income Fund | -0.78% | — | Feb 2006 | FDHIX vs SAMBX | |
| PGIM Floating Rate Income Fund | -0.85% | — | Mar 2011 | FDHIX vs FRFZX | |
| Calvert Floating-Rate Advantage Fund | -0.88% | — | Oct 2017 | FDHIX vs CFOIX | |
| Virtus Newfleet Senior Floating Rate Fund | -0.88% | — | Jan 2008 | FDHIX vs PSFIX |
Other Mutual Funds from First Trust
The 3 most viewed First Trust mutual funds shown here include VARBX, FPEIX, FFA and span 3 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Vivaldi Merger Arbitrage Fund Class I | Event Driven | 99 | 2.18% | — | Oct 2015 | FDHIX vs VARBX | |
| First Trust Preferred Securities and Income Fund | Preferred Stock/Convertible Bonds | 64 | 0.42% | — | Jan 2011 | FDHIX vs FPEIX | |
| First Trust Enhanced Equity Income Fund | Derivative Income | 39 | 6.38% | — | Aug 2004 | FDHIX vs FFA |
Often Compared With FDHIX
Investors most often compare FDHIX with FCT, FMY, FPF. These 10 comparison targets span 4 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| First Trust Senior Floating Rate Income Fund II | Bank Loan | 19 | 2.12% | — | Jan 2013 | FDHIX vs FCT | |
| First Trust Mortgage Income Fund | Mortgage Backed Securities | 6 | -0.50% | — | May 2005 | FDHIX vs FMY | |
| First Trust Intermediate Duration Preferred and In... | Preferred Stock/Convertible Bonds | 8 | 1.06% | — | Apr 2009 | FDHIX vs FPF | |
| Delaware Floating Rate Fund | Bank Loan | 95 | 2.18% | — | Feb 2010 | FDHIX vs DDFLX | |
| First Trust High Yield Opportunities 2027 Term Fun... | High Yield Bonds | 8 | 2.46% | — | Jun 2020 | FDHIX vs FTHY | |
| Pioneer Floating Rate Fund | Bank Loan | 88 | 2.09% | — | Feb 2007 | FDHIX vs FLYRX | |
| Pacific Funds Floating Rate Income | Bank Loan | 85 | 1.54% | — | Jun 2011 | FDHIX vs PLFRX | |
| Federated Hermes Floating Rate Strat Inc Fund | Bank Loan | 90 | 1.23% | — | Dec 2010 | FDHIX vs FFRSX | |
| BlackRock Debt Strategies Fund, Inc. | Bank Loan | 8 | 1.37% | — | Nov 1998 | FDHIX vs DSU | |
| BlackRock Floating Rate Income Trust | Bank Loan | 2 | 0.73% | — | Aug 2004 | FDHIX vs BGT |
Compare FDHIX with Any Fund or Stock
Compare FDHIX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FDHIX with funds that move differently
First Trust Short Duration High Income Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FDHIX.
Explore FDHIX Diversifiers