BRHYX vs. FXNAX
BRHYX (BlackRock High Yield K) and FXNAX (Fidelity U.S. Bond Index Fund) are both mutual funds - BRHYX is a High Yield Bonds fund managed by BlackRock, while FXNAX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. Over the past 10 years, BRHYX returned 6.05%/yr vs 1.44%/yr for FXNAX. At a 0.19 correlation, their price movements are largely independent. BRHYX charges 0.48%/yr vs 0.03%/yr for FXNAX.
Performance
BRHYX vs. FXNAX - Performance Comparison
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Returns By Period
In the year-to-date period, BRHYX achieves a 1.52% return, which is significantly higher than FXNAX's 0.11% return. Over the past 10 years, BRHYX has outperformed FXNAX with an annualized return of 6.05%, while FXNAX has yielded a comparatively lower 1.44% annualized return.
BRHYX
- 1D
- -0.14%
- 1M
- 0.57%
- YTD
- 1.52%
- 6M
- 2.25%
- 1Y
- 7.25%
- 3Y*
- 9.42%
- 5Y*
- 4.38%
- 10Y*
- 6.05%
FXNAX
- 1D
- -0.29%
- 1M
- 0.61%
- YTD
- 0.11%
- 6M
- 0.43%
- 1Y
- 4.25%
- 3Y*
- 3.88%
- 5Y*
- -0.05%
- 10Y*
- 1.44%
BRHYX vs. FXNAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BRHYX BlackRock High Yield K | 1.52% | 9.44% | 8.65% | 13.26% | -11.18% | 5.47% | 5.98% | 15.65% | -2.67% | 8.34% |
FXNAX Fidelity U.S. Bond Index Fund | 0.11% | 7.14% | 1.35% | 5.82% | -13.55% | -2.10% | 7.63% | 8.50% | 0.04% | 3.50% |
Correlation
The correlation between BRHYX and FXNAX is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since May 4, 2011 | 0.19 |
Over the past year, BRHYX and FXNAX have become more correlated (0.52) than their long-term average of 0.19, meaning their price movements have been converging.
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Return for Risk
BRHYX vs. FXNAX — Risk / Return Rank
BRHYX
FXNAX
BRHYX vs. FXNAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock High Yield K (BRHYX) and Fidelity U.S. Bond Index Fund (FXNAX). 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.
| BRHYX | FXNAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +2.01 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.20 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | 1.52 | +1.57 |
| Martin ratioReturn relative to average drawdown | 15.57 | 4.36 | +11.20 |
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Drawdowns
BRHYX vs. FXNAX - Drawdown Comparison
The maximum BRHYX drawdown since its inception was -34.77%, which is greater than FXNAX's maximum drawdown of -19.51%. Use the drawdown chart below to compare losses from any high point for BRHYX and FXNAX.
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Drawdown Indicators
| BRHYX | FXNAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.77% | -19.51% | -15.26% |
Max Drawdown (1Y)Largest decline over 1 year | -2.40% | -2.94% | +0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -4.07% | -6.16% | +2.09% |
Max Drawdown (5Y)Largest decline over 5 years | -15.29% | -18.54% | +3.25% |
Max Drawdown (10Y)Largest decline over 10 years | -23.20% | -19.51% | -3.69% |
Current DrawdownCurrent decline from peak | -0.42% | -3.17% | +2.75% |
Average DrawdownAverage peak-to-trough decline | -2.73% | -3.86% | +1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 1.02% | -0.54% |
Volatility
BRHYX vs. FXNAX - Volatility Comparison
The current volatility for BlackRock High Yield K (BRHYX) is 0.86%, while Fidelity U.S. Bond Index Fund (FXNAX) has a volatility of 1.16%. This indicates that BRHYX experiences smaller price fluctuations and is considered to be less risky than FXNAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRHYX | FXNAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 1.16% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 2.71% | 2.90% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.48% | 3.92% | -0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.27% | 6.08% | -0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.92% | 5.01% | +0.91% |
BRHYX vs. FXNAX - Expense Ratio Comparison
BRHYX has a 0.48% expense ratio, which is higher than FXNAX's 0.03% expense ratio.
Dividends
BRHYX vs. FXNAX - Dividend Comparison
BRHYX's dividend yield for the trailing twelve months is around 7.18%, more than FXNAX's 3.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRHYX BlackRock High Yield K | 7.18% | 7.14% | 7.56% | 6.20% | 4.98% | 4.80% | 5.22% | 5.82% | 6.48% | 5.92% | 6.03% | 6.42% |
FXNAX Fidelity U.S. Bond Index Fund | 3.72% | 3.58% | 3.40% | 3.15% | 1.81% | 1.74% | 2.92% | 2.68% | 2.74% | 2.57% | 2.76% | 2.52% |
Frequently Asked Questions
BRHYX and FXNAX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXNAX has higher volatility (1.16%) compared to BRHYX (0.86%). In terms of maximum drawdown, BRHYX dropped -34.77% vs FXNAX's -19.51%.
BRHYX currently has the higher Sharpe Ratio (2.14 vs 1.14), 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.
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