BBHY vs. FDHY

Last updated Jun 24, 2026

BBHY (JPMorgan BetaBuilders USD High Yield Corporate Bond ETF) and FDHY (Fidelity High Yield Factor ETF) are both High Yield Bonds funds. BBHY is passively managed, while FDHY is actively managed. Over the past 5 years, BBHY returned 3.97%/yr vs 3.89%/yr for FDHY. Their correlation of 0.83 suggests significant overlap in exposure. BBHY charges 0.15%/yr vs 0.45%/yr for FDHY.

Performance

BBHY vs. FDHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY) and Fidelity High Yield Factor ETF (FDHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBHY achieves a 1.73% return, which is significantly lower than FDHY's 2.43% return.

BBHY

• 1D: -0.15%
• 1M: 0.49%
• YTD: 1.73%
• 6M: 1.91%
• 1Y: 6.31%
• 3Y*: 8.84%
• 5Y*: 3.97%
• 10Y*: —

FDHY

• 1D: -0.02%
• 1M: 0.59%
• YTD: 2.43%
• 6M: 2.90%
• 1Y: 7.74%
• 3Y*: 9.11%
• 5Y*: 3.89%
• 10Y*: —

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

BBHY vs. FDHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF	1.73%	8.51%	7.81%	11.98%	-10.37%	3.88%	5.36%	14.35%	-1.76%
FDHY Fidelity High Yield Factor ETF	2.43%	9.24%	7.53%	11.14%	-11.30%	4.33%	10.71%	16.87%	-2.35%

Correlation

The correlation between BBHY and FDHY is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jun 14, 2018	0.83

The correlation between BBHY and FDHY has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.

Return for Risk

BBHY vs. FDHY — Risk / Return Rank

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

BBHY

BBHY Risk / Return Rank: 59
BBHY Sharpe Ratio Rank: 53
BBHY Sortino Ratio Rank: 58
BBHY Omega Ratio Rank: 57
BBHY Calmar Ratio Rank: 58
BBHY Martin Ratio Rank: 69

FDHY

FDHY Risk / Return Rank: 77
FDHY Sharpe Ratio Rank: 71
FDHY Sortino Ratio Rank: 79
FDHY Omega Ratio Rank: 79
FDHY Calmar Ratio Rank: 75
FDHY Martin Ratio Rank: 81

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.

BBHY vs. FDHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY) and Fidelity High Yield Factor ETF (FDHY). 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.

	BBHY	FDHY	Difference
Sharpe ratio: Return per unit of total volatility	1.73	2.18	-0.45
Sortino ratio: Return per unit of downside risk	2.61	3.33	-0.72
Omega ratio: Gain probability vs. loss probability	1.33	1.44	-0.11
Calmar ratio: Return relative to maximum drawdown	2.67	3.66	-0.99
Martin ratio: Return relative to average drawdown	11.90	15.38	-3.48

BBHY vs. FDHY - Sharpe Ratio Comparison

The current BBHY Sharpe Ratio is 1.73, which is comparable to the FDHY Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of BBHY and FDHY, 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

BBHY vs. FDHY - Drawdown Comparison

The maximum BBHY drawdown since its inception was -24.98%, which is greater than FDHY's maximum drawdown of -20.01%. Use the drawdown chart below to compare losses from any high point for BBHY and FDHY.

Drawdown Indicators

	BBHY	FDHY	Difference
Max Drawdown Largest peak-to-trough decline	-24.98%	-20.01%	-4.97%
Max Drawdown (1Y) Largest decline over 1 year	-2.37%	-2.12%	-0.25%
Max Drawdown (3Y) Largest decline over 3 years	-5.00%	-5.26%	+0.26%
Max Drawdown (5Y) Largest decline over 5 years	-15.32%	-16.38%	+1.06%
Current Drawdown Current decline from peak	-0.29%	-0.20%	-0.09%
Average Drawdown Average peak-to-trough decline	-2.36%	-2.86%	+0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	0.50%	+0.03%

Volatility

BBHY vs. FDHY - Volatility Comparison

JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (BBHY) has a higher volatility of 1.05% compared to Fidelity High Yield Factor ETF (FDHY) at 0.82%. This indicates that BBHY's price experiences larger fluctuations and is considered to be riskier than FDHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBHY	FDHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.05%	0.82%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	2.94%	2.78%	+0.16%
Volatility (1Y) Calculated over the trailing 1-year period	3.68%	3.57%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.28%	7.14%	+0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.52%	8.02%	-0.50%

BBHY vs. FDHY - Expense Ratio Comparison

BBHY has a 0.15% expense ratio, which is lower than FDHY's 0.45% expense ratio.

Dividends

BBHY vs. FDHY - Dividend Comparison

BBHY's dividend yield for the trailing twelve months is around 6.94%, more than FDHY's 6.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF	6.94%	7.24%	7.18%	6.49%	5.92%	4.06%	4.73%	4.99%	5.02%	4.81%	1.42%
FDHY Fidelity High Yield Factor ETF	6.51%	6.56%	6.58%	6.26%	5.34%	6.09%	5.78%	4.94%	2.55%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BBHY and FDHY in my portfolio?

BBHY and FDHY have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBHY or FDHY?

BBHY has higher volatility (1.05%) compared to FDHY (0.82%). In terms of maximum drawdown, BBHY dropped -24.98% vs FDHY's -20.01%.

Which ETF is better, BBHY or FDHY?

On 5-year performance, BBHY leads with 3.97% vs 3.89% for FDHY. On fees, BBHY is cheaper at 0.15% per year. On volatility, FDHY has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBHY or FDHY?

Over the 5-year period, BBHY has performed better with a 3.97% return vs 3.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBHY or FDHY?

BBHY is cheaper with a 0.15% expense ratio, compared with 0.45% for FDHY.

Which ETF pays a higher dividend yield, BBHY or FDHY?

BBHY has the higher dividend yield at 6.94%, compared with 6.51% for FDHY.

What is the main difference between BBHY and FDHY?

They also come from different issuers: JPMorgan and Fidelity. Their fees differ too: 0.15% for BBHY and 0.45% for FDHY.

Which has better risk-adjusted returns?

FDHY currently has the higher Sharpe Ratio (2.18 vs 1.73), 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.