BSIIX vs. FFRHX
BSIIX (BlackRock Strategic Income Opportunities Fund Class I) and FFRHX (Fidelity Floating Rate High Income Fund) are both mutual funds - BSIIX is a Total Bond Market fund managed by BlackRock, while FFRHX is a Bank Loan fund actively managed by Fidelity. Over the past 10 years, BSIIX returned 3.85%/yr vs 4.94%/yr for FFRHX. At a 0.40 correlation, their price movements are largely independent. BSIIX charges 0.69%/yr vs 0.67%/yr for FFRHX.
Performance
BSIIX vs. FFRHX - Performance Comparison
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Returns By Period
In the year-to-date period, BSIIX achieves a 2.00% return, which is significantly higher than FFRHX's 1.71% return. Over the past 10 years, BSIIX has underperformed FFRHX with an annualized return of 3.85%, while FFRHX has yielded a comparatively higher 4.94% annualized return.
BSIIX
- 1D
- -0.10%
- 1M
- 1.23%
- YTD
- 2.00%
- 6M
- 2.57%
- 1Y
- 6.95%
- 3Y*
- 6.84%
- 5Y*
- 3.01%
- 10Y*
- 3.85%
FFRHX
- 1D
- 0.00%
- 1M
- 0.22%
- YTD
- 1.71%
- 6M
- 2.32%
- 1Y
- 5.89%
- 3Y*
- 7.17%
- 5Y*
- 5.40%
- 10Y*
- 4.94%
BSIIX vs. FFRHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BSIIX BlackRock Strategic Income Opportunities Fund Class I | 2.00% | 8.59% | 5.22% | 6.18% | -6.14% | 0.80% | 7.22% | 7.65% | -0.42% | 4.89% |
FFRHX Fidelity Floating Rate High Income Fund | 1.71% | 5.47% | 7.10% | 12.63% | -1.55% | 5.01% | 1.69% | 8.63% | 0.10% | 3.91% |
Correlation
The correlation between BSIIX and FFRHX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2008 | 0.40 |
The correlation between BSIIX and FFRHX shifts across timeframes, from 0.25 (3 years) to 0.40 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BSIIX vs. FFRHX — Risk / Return Rank
BSIIX
FFRHX
BSIIX vs. FFRHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Strategic Income Opportunities Fund Class I (BSIIX) and Fidelity Floating Rate High Income Fund (FFRHX). 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.
| BSIIX | FFRHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -2.21 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.87 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 4.97 | -2.51 |
| Martin ratioReturn relative to average drawdown | 9.49 | 17.11 | -7.62 |
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Drawdowns
BSIIX vs. FFRHX - Drawdown Comparison
The maximum BSIIX drawdown since its inception was -18.76%, smaller than the maximum FFRHX drawdown of -22.20%. Use the drawdown chart below to compare losses from any high point for BSIIX and FFRHX.
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Drawdown Indicators
| BSIIX | FFRHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.76% | -22.20% | +3.44% |
Max Drawdown (1Y)Largest decline over 1 year | -2.84% | -1.19% | -1.65% |
Max Drawdown (3Y)Largest decline over 3 years | -2.84% | -3.29% | +0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -9.13% | -5.90% | -3.23% |
Max Drawdown (10Y)Largest decline over 10 years | -9.91% | -22.20% | +12.29% |
Current DrawdownCurrent decline from peak | -0.31% | -0.44% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -1.80% | -1.15% | -0.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.35% | +0.38% |
Volatility
BSIIX vs. FFRHX - Volatility Comparison
BlackRock Strategic Income Opportunities Fund Class I (BSIIX) has a higher volatility of 0.92% compared to Fidelity Floating Rate High Income Fund (FFRHX) at 0.66%. This indicates that BSIIX's price experiences larger fluctuations and is considered to be riskier than FFRHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSIIX | FFRHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 0.66% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 2.37% | 1.63% | +0.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.96% | 2.37% | +0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.65% | 2.88% | +0.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.15% | 4.14% | -0.99% |
BSIIX vs. FFRHX - Expense Ratio Comparison
BSIIX has a 0.69% expense ratio, which is higher than FFRHX's 0.67% expense ratio.
Dividends
BSIIX vs. FFRHX - Dividend Comparison
BSIIX's dividend yield for the trailing twelve months is around 5.15%, less than FFRHX's 7.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSIIX BlackRock Strategic Income Opportunities Fund Class I | 5.15% | 5.07% | 4.75% | 3.33% | 3.58% | 2.98% | 2.92% | 3.54% | 3.32% | 3.45% | 2.91% | 3.19% |
FFRHX Fidelity Floating Rate High Income Fund | 7.09% | 7.41% | 6.94% | 8.24% | 3.81% | 2.74% | 3.84% | 5.15% | 4.74% | 4.05% | 4.44% | 3.69% |
Frequently Asked Questions
BSIIX and FFRHX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSIIX has higher volatility (0.92%) compared to FFRHX (0.66%). In terms of maximum drawdown, BSIIX dropped -18.76% vs FFRHX's -22.20%.
FFRHX currently has the higher Sharpe Ratio (2.50 vs 2.36), 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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