AGZD vs. FFRAX

Last updated Jun 24, 2026

AGZD (WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund) and FFRAX (Fidelity Advisor Floating Rate High Income Fund Class A) are both funds - AGZD is a Nontraditional Bonds fund tracking the Bloomberg Rate Hedged U.S. Aggregate Bond Index, Zero Duration, while FFRAX is a High Yield Bonds fund managed by Fidelity. Over the past 10 years, AGZD returned 3.26%/yr vs 4.60%/yr for FFRAX. At a 0.10 correlation, their price movements are largely independent. AGZD charges 0.23%/yr vs 0.98%/yr for FFRAX.

Performance

AGZD vs. FFRAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD) and Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGZD achieves a 2.29% return, which is significantly higher than FFRAX's 1.48% return. Over the past 10 years, AGZD has underperformed FFRAX with an annualized return of 3.26%, while FFRAX has yielded a comparatively higher 4.60% annualized return.

AGZD

• 1D: -0.07%
• 1M: 0.11%
• YTD: 2.29%
• 6M: 2.30%
• 1Y: 5.52%
• 3Y*: 5.79%
• 5Y*: 4.33%
• 10Y*: 3.26%

FFRAX

• 1D: 0.00%
• 1M: 0.20%
• YTD: 1.48%
• 6M: 2.17%
• 1Y: 5.59%
• 3Y*: 6.65%
• 5Y*: 4.95%
• 10Y*: 4.60%

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

AGZD vs. FFRAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund	2.29%	4.35%	6.64%	7.15%	1.17%	0.69%	0.31%	4.65%	0.18%	2.62%
FFRAX Fidelity Advisor Floating Rate High Income Fund Class A	1.48%	5.28%	6.83%	11.35%	-1.77%	4.83%	1.38%	8.19%	-0.09%	3.52%

Correlation

The correlation between AGZD and FFRAX is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Dec 18, 2013	0.10

Return for Risk

AGZD vs. FFRAX — Risk / Return Rank

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

AGZD

AGZD Risk / Return Rank: 77
AGZD Sharpe Ratio Rank: 62
AGZD Sortino Ratio Rank: 67
AGZD Omega Ratio Rank: 67
AGZD Calmar Ratio Rank: 95
AGZD Martin Ratio Rank: 93

FFRAX

FFRAX Risk / Return Rank: 89
FFRAX Sharpe Ratio Rank: 74
FFRAX Sortino Ratio Rank: 97
FFRAX Omega Ratio Rank: 96
FFRAX Calmar Ratio Rank: 91
FFRAX Martin Ratio Rank: 88

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.

AGZD vs. FFRAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD) and Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX). 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.

	AGZD	FFRAX	Difference
Sharpe ratio: Return per unit of total volatility	1.96	2.30	-0.35
Sortino ratio: Return per unit of downside risk	2.90	5.24	-2.34
Omega ratio: Gain probability vs. loss probability	1.38	1.78	-0.40
Calmar ratio: Return relative to maximum drawdown	7.57	4.53	+3.04
Martin ratio: Return relative to average drawdown	22.52	15.86	+6.66

AGZD vs. FFRAX - Sharpe Ratio Comparison

The current AGZD Sharpe Ratio is 1.96, which is comparable to the FFRAX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of AGZD and FFRAX, 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

AGZD vs. FFRAX - Drawdown Comparison

The maximum AGZD drawdown since its inception was -8.46%, smaller than the maximum FFRAX drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for AGZD and FFRAX.

Drawdown Indicators

	AGZD	FFRAX	Difference
Max Drawdown Largest peak-to-trough decline	-8.46%	-22.21%	+13.75%
Max Drawdown (1Y) Largest decline over 1 year	-0.73%	-1.21%	+0.48%
Max Drawdown (3Y) Largest decline over 3 years	-1.71%	-3.31%	+1.60%
Max Drawdown (5Y) Largest decline over 5 years	-2.23%	-6.02%	+3.79%
Max Drawdown (10Y) Largest decline over 10 years	-8.46%	-22.21%	+13.75%
Current Drawdown Current decline from peak	-0.56%	-0.44%	-0.12%
Average Drawdown Average peak-to-trough decline	-0.77%	-1.02%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.25%	0.35%	-0.10%

Volatility

AGZD vs. FFRAX - Volatility Comparison

WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD) has a higher volatility of 1.15% compared to Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX) at 0.62%. This indicates that AGZD's price experiences larger fluctuations and is considered to be riskier than FFRAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGZD	FFRAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	0.62%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	2.08%	1.73%	+0.35%
Volatility (1Y) Calculated over the trailing 1-year period	2.84%	2.39%	+0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.60%	2.88%	+0.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.72%	4.13%	-0.41%

AGZD vs. FFRAX - Expense Ratio Comparison

AGZD has a 0.23% expense ratio, which is lower than FFRAX's 0.98% expense ratio.

Dividends

AGZD vs. FFRAX - Dividend Comparison

AGZD's dividend yield for the trailing twelve months is around 3.99%, less than FFRAX's 6.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund	3.99%	4.12%	3.96%	6.07%	8.61%	1.66%	2.28%	2.83%	2.62%	2.31%	1.81%	1.66%
FFRAX Fidelity Advisor Floating Rate High Income Fund Class A	6.80%	7.12%	6.69%	7.24%	3.57%	2.47%	3.56%	4.86%	4.42%	3.77%	4.14%	3.42%

Frequently Asked Questions

Can I hold both AGZD and FFRAX in my portfolio?

AGZD and FFRAX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGZD or FFRAX?

AGZD has higher volatility (1.15%) compared to FFRAX (0.62%). In terms of maximum drawdown, AGZD dropped -8.46% vs FFRAX's -22.21%.

Which has better risk-adjusted returns?

FFRAX currently has the higher Sharpe Ratio (2.30 vs 1.96), 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.