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Fidelity Advisor Short Duration High Income Fund Class A (FSBHX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 4, 2026

The fund normally invests primarily in income producing debt securities, preferred stocks, and convertible securities, with an emphasis on lower-quality debt securities. It normally invests primarily in securities rated BB or B by Standard & Poor's (S&P), Ba or B by Moody's Investors Service (Moody's), comparably rated by at least one nationally recognized credit rating agency, or, if unrated, considered by Fidelity Management & Research Company (FMR) to be of comparable quality. The fund normally maintains a duration of three years or less.

Looking to diversify beyond FSBHX? The mutual funds below have the lowest correlation with FSBHX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from FSBHX.

Best Diversifiers for FSBHX

3 mutual funds have low correlation with FSBHX (below 0.3), 0 of which are negatively correlated. The least correlated is Cliffwater Corporate Lending Fund (CCLFX) (High Yield Bonds) with a 1Y correlation of 0.07, roughly unchanged from 0.12 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CCLFX
Cliffwater Corporate Lending Fund0.070.110.12
100
High Yield BondsFSBHX vs CCLFX
XILSX
Pioneer ILS Interval Fund0.110.100.06
100
High Yield BondsFSBHX vs XILSX
RPHIX
RiverPark Short Term High Yield Fund0.220.190.26
100
High Yield BondsFSBHX vs RPHIX
FBNAX
Fidelity Advisor Short-Term Bond Fund Class A0.390.430.38
59
Total Bond MarketFSBHX vs FBNAX
FHYSX
Federated Hermes High-Yield Strategy Portfolio0.410.670.79
71
High Yield BondsFSBHX vs FHYSX
See all 33 diversifiers for FSBHX

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