BHYIX vs. FFRAX
Compare and contrast key facts about BlackRock High Yield Bond Portfolio Institutional Shares (BHYIX) and Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX).
BHYIX is managed by BlackRock. It was launched on Nov 19, 1998. FFRAX is managed by Fidelity. It was launched on Aug 16, 2000.
Performance
BHYIX vs. FFRAX - Performance Comparison
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BHYIX vs. FFRAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BHYIX BlackRock High Yield Bond Portfolio Institutional Shares | -1.03% | 9.18% | 8.55% | 13.19% | -11.24% | 5.53% | 5.87% | 15.35% | -2.81% | 8.23% |
FFRAX Fidelity Advisor Floating Rate High Income Fund Class A | -0.66% | 5.28% | 6.83% | 11.35% | -1.77% | 4.83% | 1.38% | 8.19% | -0.09% | 3.52% |
Returns By Period
In the year-to-date period, BHYIX achieves a -1.03% return, which is significantly lower than FFRAX's -0.66% return. Over the past 10 years, BHYIX has outperformed FFRAX with an annualized return of 5.99%, while FFRAX has yielded a comparatively lower 4.62% annualized return.
BHYIX
- 1D
- 0.57%
- 1M
- -1.53%
- YTD
- -1.03%
- 6M
- 0.46%
- 1Y
- 7.03%
- 3Y*
- 8.51%
- 5Y*
- 4.21%
- 10Y*
- 5.99%
FFRAX
- 1D
- 0.11%
- 1M
- 0.34%
- YTD
- -0.66%
- 6M
- 0.65%
- 1Y
- 4.50%
- 3Y*
- 6.53%
- 5Y*
- 4.76%
- 10Y*
- 4.62%
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BHYIX vs. FFRAX - Expense Ratio Comparison
BHYIX has a 0.59% expense ratio, which is lower than FFRAX's 0.98% expense ratio.
Return for Risk
BHYIX vs. FFRAX — Risk / Return Rank
BHYIX
FFRAX
BHYIX vs. FFRAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock High Yield Bond Portfolio Institutional Shares (BHYIX) 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.
| BHYIX | FFRAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.88 | 1.33 | +0.55 |
Sortino ratioReturn per unit of downside risk | 2.68 | 1.85 | +0.83 |
Omega ratioGain probability vs. loss probability | 1.43 | 1.44 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 2.39 | 1.69 | +0.70 |
Martin ratioReturn relative to average drawdown | 10.79 | 8.19 | +2.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BHYIX | FFRAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.88 | 1.33 | +0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | 1.69 | -0.87 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.01 | 1.12 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.20 | 1.15 | +0.05 |
Correlation
The correlation between BHYIX and FFRAX is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
BHYIX vs. FFRAX - Dividend Comparison
BHYIX's dividend yield for the trailing twelve months is around 6.61%, more than FFRAX's 6.48% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BHYIX BlackRock High Yield Bond Portfolio Institutional Shares | 6.61% | 7.05% | 7.46% | 6.15% | 4.91% | 4.73% | 5.12% | 5.70% | 6.33% | 5.82% | 5.96% | 6.33% |
FFRAX Fidelity Advisor Floating Rate High Income Fund Class A | 6.48% | 7.12% | 6.69% | 7.24% | 3.57% | 2.47% | 3.56% | 4.86% | 4.42% | 3.77% | 4.14% | 3.42% |
Drawdowns
BHYIX vs. FFRAX - Drawdown Comparison
The maximum BHYIX drawdown since its inception was -34.82%, which is greater than FFRAX's maximum drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for BHYIX and FFRAX.
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Drawdown Indicators
| BHYIX | FFRAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.82% | -22.21% | -12.61% |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | -2.73% | -0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -15.45% | -6.02% | -9.43% |
Max Drawdown (10Y)Largest decline over 10 years | -23.23% | -22.21% | -1.02% |
Current DrawdownCurrent decline from peak | -1.71% | -0.77% | -0.94% |
Average DrawdownAverage peak-to-trough decline | -2.77% | -1.03% | -1.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 0.58% | +0.14% |
Volatility
BHYIX vs. FFRAX - Volatility Comparison
BlackRock High Yield Bond Portfolio Institutional Shares (BHYIX) has a higher volatility of 1.38% compared to Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX) at 0.67%. This indicates that BHYIX'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.
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Volatility by Period
| BHYIX | FFRAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 0.67% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 2.34% | 1.70% | +0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.86% | 3.33% | +0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.20% | 2.84% | +2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.93% | 4.12% | +1.81% |