CYBIX vs. FAGIX

Last updated Jun 4, 2026

CYBIX (Calvert High Yield Bond Fund) and FAGIX (Fidelity Capital & Income Fund) are both High Yield Bonds funds. Over the past 10 years, CYBIX returned 4.26%/yr vs 8.10%/yr for FAGIX. A 0.66 correlation means they provide meaningful diversification when combined. CYBIX charges 0.76%/yr vs 0.67%/yr for FAGIX.

Performance

CYBIX vs. FAGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert High Yield Bond Fund (CYBIX) and Fidelity Capital & Income Fund (FAGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CYBIX achieves a 0.60% return, which is significantly lower than FAGIX's 8.43% return. Over the past 10 years, CYBIX has underperformed FAGIX with an annualized return of 4.26%, while FAGIX has yielded a comparatively higher 8.10% annualized return.

CYBIX

• 1D: 0.04%
• 1M: 0.53%
• YTD: 0.60%
• 6M: 1.21%
• 1Y: 5.52%
• 3Y*: 7.04%
• 5Y*: 2.84%
• 10Y*: 4.26%

FAGIX

• 1D: 0.43%
• 1M: 2.37%
• YTD: 8.43%
• 6M: 9.49%
• 1Y: 18.43%
• 3Y*: 13.35%
• 5Y*: 7.15%
• 10Y*: 8.10%

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

CYBIX vs. FAGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CYBIX Calvert High Yield Bond Fund	0.60%	7.73%	6.70%	10.02%	-11.50%	3.66%	5.46%	12.82%	-2.53%	6.09%
FAGIX Fidelity Capital & Income Fund	8.43%	12.38%	10.69%	13.02%	-11.50%	11.13%	9.95%	18.96%	-7.17%	11.66%

Correlation

The correlation between CYBIX and FAGIX is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jul 10, 2001	0.66

The correlation between CYBIX and FAGIX shifts across timeframes, from 0.64 (1 year) to 0.79 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

CYBIX vs. FAGIX — Risk / Return Rank

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

CYBIX

CYBIX Risk / Return Rank: 49
CYBIX Sharpe Ratio Rank: 41
CYBIX Sortino Ratio Rank: 58
CYBIX Omega Ratio Rank: 56
CYBIX Calmar Ratio Rank: 34
CYBIX Martin Ratio Rank: 58

FAGIX

FAGIX Risk / Return Rank: 93
FAGIX Sharpe Ratio Rank: 93
FAGIX Sortino Ratio Rank: 92
FAGIX Omega Ratio Rank: 89
FAGIX Calmar Ratio Rank: 94
FAGIX Martin Ratio Rank: 96

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.

CYBIX vs. FAGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert High Yield Bond Fund (CYBIX) and Fidelity Capital & Income Fund (FAGIX). 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.

	CYBIX	FAGIX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	3.16	-1.30
Sortino ratio: Return per unit of downside risk	3.20	4.61	-1.41
Omega ratio: Gain probability vs. loss probability	1.42	1.63	-0.22
Calmar ratio: Return relative to maximum drawdown	2.18	5.51	-3.32
Martin ratio: Return relative to average drawdown	11.67	23.25	-11.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CYBIX vs. FAGIX - Sharpe Ratio Comparison

The current CYBIX Sharpe Ratio is 1.86, which is lower than the FAGIX Sharpe Ratio of 3.16. The chart below compares the historical Sharpe Ratios of CYBIX and FAGIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CYBIX	FAGIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	3.16	-1.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	1.09	-0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.93	1.04	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	0.88	+0.19

Drawdowns

CYBIX vs. FAGIX - Drawdown Comparison

The maximum CYBIX drawdown since its inception was -32.13%, smaller than the maximum FAGIX drawdown of -37.97%. Use the drawdown chart below to compare losses from any high point for CYBIX and FAGIX.

Drawdown Indicators

	CYBIX	FAGIX	Difference
Max Drawdown Largest peak-to-trough decline	-32.13%	-37.97%	+5.84%
Max Drawdown (1Y) Largest decline over 1 year	-2.60%	-3.49%	+0.89%
Max Drawdown (3Y) Largest decline over 3 years	-3.62%	-7.26%	+3.64%
Max Drawdown (5Y) Largest decline over 5 years	-14.95%	-15.42%	+0.47%
Max Drawdown (10Y) Largest decline over 10 years	-17.55%	-28.45%	+10.90%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.35%	-6.98%	+3.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	0.82%	-0.34%

Volatility

CYBIX vs. FAGIX - Volatility Comparison

The current volatility for Calvert High Yield Bond Fund (CYBIX) is 1.05%, while Fidelity Capital & Income Fund (FAGIX) has a volatility of 1.89%. This indicates that CYBIX experiences smaller price fluctuations and is considered to be less risky than FAGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CYBIX	FAGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.05%	1.89%	-0.84%
Volatility (6M) Calculated over the trailing 6-month period	2.46%	4.85%	-2.39%
Volatility (1Y) Calculated over the trailing 1-year period	3.05%	6.08%	-3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.56%	6.59%	-2.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.62%	7.82%	-3.20%

CYBIX vs. FAGIX - Expense Ratio Comparison

CYBIX has a 0.76% expense ratio, which is higher than FAGIX's 0.67% expense ratio.

Dividends

CYBIX vs. FAGIX - Dividend Comparison

CYBIX's dividend yield for the trailing twelve months is around 5.82%, more than FAGIX's 4.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CYBIX Calvert High Yield Bond Fund	5.82%	5.44%	5.25%	4.47%	4.12%	4.22%	4.49%	4.98%	5.20%	4.92%	5.51%	5.78%
FAGIX Fidelity Capital & Income Fund	4.42%	4.74%	5.02%	5.28%	10.25%	6.08%	4.59%	5.00%	5.67%	5.05%	4.57%	4.51%

Frequently Asked Questions

Can I hold both CYBIX and FAGIX in my portfolio?

CYBIX and FAGIX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CYBIX or FAGIX?

FAGIX has higher volatility (1.89%) compared to CYBIX (1.05%). In terms of maximum drawdown, CYBIX dropped -32.13% vs FAGIX's -37.97%.

Which has better risk-adjusted returns?

FAGIX currently has the higher Sharpe Ratio (3.16 vs 1.86), 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.