FFRAX Alternatives & Similar Mutual Funds

Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX) belongs to the High Yield Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with FFRAX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to FFRAX

FFRAX charges 0.98% annually. There are 125 mutual funds in the High Yield Bonds category with lower expense ratios, going as low as 0.02%.

Symbol	Name	Expense Ratio	AUM	Inception
FHYSX	Federated Hermes High-Yield Strategy Portfolio	0.02%	—	Dec 2008	FFRAX vs FHYSX
VWEAX	Vanguard High-Yield Corporate Fund Admiral Shares	0.13%	25.70B	Nov 2001	FFRAX vs VWEAX
PIAMX	PIA High Yield (MACS) Fund	0.20%	—	Dec 2017	FFRAX vs PIAMX
VWEHX	Vanguard High-Yield Corporate Fund Investor Shares	0.23%	25.70B	Dec 1978	FFRAX vs VWEHX
CRDOX	Six Circles Credit Opportunities Fund	0.29%	—	Nov 2020	FFRAX vs CRDOX

Best Risk-Adjusted Alternatives to FFRAX

FFRAX has a PortfoliosLab risk / return rank of 89. There are 49 mutual funds in the High Yield Bonds category with higher risk-adjusted ranks, going as high as 100.

Symbol	Name	Risk / Return Rank	AUM	Inception
XILSX	Pioneer ILS Interval Fund	100	—	Dec 2014	FFRAX vs XILSX
CCLFX	Cliffwater Corporate Lending Fund	100	—	Mar 2019	FFRAX vs CCLFX
RPHIX	RiverPark Short Term High Yield Fund	100	—	Sep 2010	FFRAX vs RPHIX
FSHNX	Fidelity Series High Income Fund	97	—	Mar 2011	FFRAX vs FSHNX
CWFIX	Chartwell Short Duration High Yield Fund	97	—	Jul 2014	FFRAX vs CWFIX

Top Performing FFRAX Alternatives (YTD)

FFRAX is at 1.82% YTD. There are 67 mutual funds in the High Yield Bonds category with higher YTD returns, going as high as 8.43%.

Symbol	Name	YTD Return	AUM	Inception
FAGIX	Fidelity Capital & Income Fund	8.43%	—	Nov 1977	FFRAX vs FAGIX
XILSX	Pioneer ILS Interval Fund	7.97%	—	Dec 2014	FFRAX vs XILSX
FIQTX	Fidelity Advisor High Income Advantage Fund Class ...	7.64%	—	Oct 2018	FFRAX vs FIQTX
FAHCX	Fidelity Advisor High Income Advantage Fund Class ...	7.59%	—	Jul 1995	FFRAX vs FAHCX
FAHYX	Fidelity Advisor High Income Advantage Fund Class ...	7.52%	—	Jan 1987	FFRAX vs FAHYX

Lowest Volatility Alternatives to FFRAX

FFRAX has 2.38% 1-year volatility. There are 16 mutual funds in the High Yield Bonds category with lower 1-year volatility, going as low as 0.88%.

Symbol	Name	Volatility 1Y	AUM	Inception
RPHIX	RiverPark Short Term High Yield Fund	0.88%	—	Sep 2010	FFRAX vs RPHIX
CCLFX	Cliffwater Corporate Lending Fund	0.88%	—	Mar 2019	FFRAX vs CCLFX
CWFIX	Chartwell Short Duration High Yield Fund	1.49%	—	Jul 2014	FFRAX vs CWFIX
SCFIX	Shenkman Capital Short Duration High Income Fund	1.63%	—	Oct 2012	FFRAX vs SCFIX
OSTIX	Osterweis Strategic Income Fund	1.69%	—	Aug 2002	FFRAX vs OSTIX

Lowest Drawdown Alternatives to FFRAX

FFRAX has a 1-year max drawdown of -1.21%. There are 11 mutual funds in the High Yield Bonds category with shallower 1-year drawdowns, going as shallow as -0.10%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
RPHIX	RiverPark Short Term High Yield Fund	-0.10%	—	Sep 2010	FFRAX vs RPHIX
CCLFX	Cliffwater Corporate Lending Fund	-0.19%	—	Mar 2019	FFRAX vs CCLFX
XILSX	Pioneer ILS Interval Fund	-0.21%	—	Dec 2014	FFRAX vs XILSX
MDHVX	MainStay MacKay Short Duration High Yield Fund	-1.06%	—	Dec 2012	FFRAX vs MDHVX
SCFIX	Shenkman Capital Short Duration High Income Fund	-1.11%	—	Oct 2012	FFRAX vs SCFIX

Other Mutual Funds from Fidelity

The 10 most viewed Fidelity mutual funds shown here include FXAIX, FSELX, FZROX and span 6 categories. AUM among these funds goes as high as $176B.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
FXAIX	Fidelity 500 Index Fund	S&P 500	73	11.71%	—	Feb 1988	FFRAX vs FXAIX
FSELX	Fidelity Select Semiconductors Portfolio	Semiconductors, Technology Equities	97	85.56%	—	Jul 1985	FFRAX vs FSELX
FZROX	Fidelity ZERO Total Market Index Fund	Large Cap Blend Equities	72	12.01%	—	—	FFRAX vs FZROX
FSPGX	Fidelity Large Cap Growth Index Fund	Large Cap Growth Equities	32	8.60%	—	—	FFRAX vs FSPGX
FSKAX	Fidelity Total Market Index Fund	Large Cap Blend Equities	71	12.08%	—	—	FFRAX vs FSKAX
FBGRX	Fidelity Blue Chip Growth Fund	Large Cap Growth Equities	75	18.56%	—	Dec 1987	FFRAX vs FBGRX
FCNTX	Fidelity Contrafund	Large Cap Growth Equities	35	7.76%	176.32B	May 1967	FFRAX vs FCNTX
FNILX	Fidelity ZERO Large Cap Index Fund	Large Cap Blend Equities	71	11.56%	—	—	FFRAX vs FNILX
FSPSX	Fidelity International Index Fund	Foreign Large Cap Equities	27	9.51%	—	Nov 1997	FFRAX vs FSPSX
FTIHX	Fidelity Total International Index Fund	Foreign Large Cap Equities	58	15.53%	—	Jun 2016	FFRAX vs FTIHX

Often Compared With FFRAX

Investors most often compare FFRAX with FFRHX, FFHCX, AGZD. These 20 comparison targets span 8 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
FFRHX	Fidelity Floating Rate High Income Fund	High Yield Bonds	92	2.05%	—	Aug 2000	FFRAX vs FFRHX
FFHCX	Fidelity Series Floating Rate High Income Fund	High Yield Bonds	93	2.22%	—	Oct 2011	FFRAX vs FFHCX
AGZD	WisdomTree Interest Rate Hedged U.S. Aggregate Bon...	Nontraditional Bonds	69	2.22%	92.79M	Dec 2013	FFRAX vs AGZD
PRFRX	T. Rowe Price Floating Rate Fund	High Yield Bonds	96	1.39%	—	Jul 2011	FFRAX vs PRFRX
PAFRX	T. Rowe Price Floating Rate Fund	Bank Loan	84	1.31%	—	Jul 2011	FFRAX vs PAFRX
EIFAX	Eaton Vance Floating-Rate Advantage Fund	Bank Loan	36	0.69%	—	Mar 2008	FFRAX vs EIFAX
BHYIX	BlackRock High Yield Bond Portfolio Institutional ...	High Yield Bonds	82	1.90%	—	Nov 1998	FFRAX vs BHYIX
RPIFX	T. Rowe Price Institutional Floating Rate Fund	Bank Loan	87	1.48%	—	Jan 2008	FFRAX vs RPIFX
SPHY	SPDR Portfolio High Yield Bond ETF	High Yield Bonds	62	1.54%	11.07B	Jun 2012	FFRAX vs SPHY
FOCIX	Fairholme Focused Income Fund	High Yield Bonds	41	7.20%	—	Dec 2009	FFRAX vs FOCIX
THHYX	Toews Tactical Income Fund	High Yield Bonds	49	0.48%	—	Jun 2010	FFRAX vs THHYX
FQTIX	Franklin Templeton SMACS: Series I	High Yield Bonds	93	3.55%	—	Jun 2019	FFRAX vs FQTIX
RSIIX	RiverPark Strategic Income Fund	High Yield Bonds	68	1.81%	—	Sep 2013	FFRAX vs RSIIX
VEIPX	Vanguard Equity Income Fund Investor Shares	Large Cap Value Equities	67	9.70%	66.00B	Mar 1988	FFRAX vs VEIPX
VPMCX	Vanguard PRIMECAP Fund Investor Shares	Large Cap Growth Equities	94	25.40%	82.00B	Nov 1984	FFRAX vs VPMCX
SCMBX	DWS Managed Municipal Bond Fund	Municipal Bonds	61	1.64%	—	Oct 1976	FFRAX vs SCMBX
CPMPX	Changing Parameters Fund	High Yield Bonds	88	0.85%	—	Oct 2006	FFRAX vs CPMPX
PDBAX	PGIM Total Return Bond Fund	Intermediate Core-Plus Bond	24	0.53%	—	Jan 1995	FFRAX vs PDBAX
VOO	Vanguard S&P 500 ETF	S&P 500	70	10.91%	1.60T	Sep 2010	FFRAX vs VOO
RMUNX	Invesco Rochester New York Municipals Fund	Municipal Bonds	32	1.78%	—	May 1986	FFRAX vs RMUNX

Compare FFRAX with Any Fund or Stock

Compare FFRAX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

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Diversifiers

Pair FFRAX with funds that move differently

Fidelity Advisor Floating Rate High Income Fund Class A alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FFRAX.

Explore FFRAX Diversifiers

Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX) Alternatives