DOCT vs. FFRHX

Last updated Jun 4, 2026

DOCT (FT Vest U.S. Equity Deep Buffer ETF - October) and FFRHX (Fidelity Floating Rate High Income Fund) are both funds - DOCT is a Defined Outcome fund tracking the S&P 500, while FFRHX is a High Yield Bonds fund managed by Fidelity. Over the past 5 years, DOCT returned 7.74%/yr vs 5.49%/yr for FFRHX. At a 0.31 correlation, their price movements are largely independent. DOCT charges 0.85%/yr vs 0.67%/yr for FFRHX.

Performance

DOCT vs. FFRHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Deep Buffer ETF - October (DOCT) and Fidelity Floating Rate High Income Fund (FFRHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DOCT achieves a 5.06% return, which is significantly higher than FFRHX's 2.05% return.

DOCT

• 1D: -0.20%
• 1M: 1.95%
• YTD: 5.06%
• 6M: 5.55%
• 1Y: 16.45%
• 3Y*: 10.96%
• 5Y*: 7.74%
• 10Y*: —

FFRHX

• 1D: -0.11%
• 1M: 0.78%
• YTD: 2.05%
• 6M: 2.69%
• 1Y: 6.13%
• 3Y*: 7.64%
• 5Y*: 5.49%
• 10Y*: 4.95%

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

DOCT vs. FFRHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DOCT FT Vest U.S. Equity Deep Buffer ETF - October	5.06%	12.50%	8.28%	16.13%	-5.27%	6.89%	145.69%
FFRHX Fidelity Floating Rate High Income Fund	2.05%	5.47%	7.10%	12.63%	-1.55%	5.01%	5.11%

Correlation

The correlation between DOCT and FFRHX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (All Time) Calculated using the full available price history since Aug 18, 2020	0.31

DOCT vs. FFRHX - Sectors Allocation Comparison

Sectors	DOCT	FFRHX
Technology	36.2%	-
Financial Services	11.9%	-
Communication Services	10.9%	3.0%
Consumer Cyclical	10.1%	4.3%
Healthcare	8.4%	-
Industrials	8.1%	-
Consumer Defensive	4.9%	-
Energy	3.5%	92.8%
Utilities	2.3%	-
Real Estate	1.9%	-
Basic Materials	1.8%	-

Return for Risk

DOCT vs. FFRHX — Risk / Return Rank

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

DOCT

DOCT Risk / Return Rank: 85
DOCT Sharpe Ratio Rank: 84
DOCT Sortino Ratio Rank: 90
DOCT Omega Ratio Rank: 88
DOCT Calmar Ratio Rank: 76
DOCT Martin Ratio Rank: 88

FFRHX

FFRHX Risk / Return Rank: 92
FFRHX Sharpe Ratio Rank: 81
FFRHX Sortino Ratio Rank: 98
FFRHX Omega Ratio Rank: 97
FFRHX Calmar Ratio Rank: 93
FFRHX Martin Ratio Rank: 90

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.

DOCT vs. FFRHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Deep Buffer ETF - October (DOCT) 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.

	DOCT	FFRHX	Difference
Sharpe ratio Return per unit of total volatility	2.77	2.62	+0.16
Sortino ratio Return per unit of downside risk	4.18	6.30	-2.11
Omega ratio Gain probability vs. loss probability	1.55	1.96	-0.41
Calmar ratio Return relative to maximum drawdown	3.81	5.16	-1.36
Martin ratio Return relative to average drawdown	19.15	18.28	+0.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DOCT vs. FFRHX - Sharpe Ratio Comparison

The current DOCT Sharpe Ratio is 2.77, which is comparable to the FFRHX Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of DOCT and FFRHX, 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

	DOCT	FFRHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.77	2.62	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.06	1.92	-0.86
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.20	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	1.15	-0.62

Drawdowns

DOCT vs. FFRHX - Drawdown Comparison

The maximum DOCT drawdown since its inception was -9.92%, smaller than the maximum FFRHX drawdown of -22.20%. Use the drawdown chart below to compare losses from any high point for DOCT and FFRHX.

Drawdown Indicators

	DOCT	FFRHX	Difference
Max Drawdown Largest peak-to-trough decline	-9.92%	-22.20%	+12.28%
Max Drawdown (1Y) Largest decline over 1 year	-4.34%	-1.19%	-3.15%
Max Drawdown (3Y) Largest decline over 3 years	-9.92%	-3.29%	-6.63%
Max Drawdown (5Y) Largest decline over 5 years	-9.92%	-5.90%	-4.02%
Max Drawdown (10Y) Largest decline over 10 years	—	-22.20%	—
Current Drawdown Current decline from peak	-0.20%	-0.11%	-0.09%
Average Drawdown Average peak-to-trough decline	-1.54%	-1.15%	-0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	0.34%	+0.52%

Volatility

DOCT vs. FFRHX - Volatility Comparison

FT Vest U.S. Equity Deep Buffer ETF - October (DOCT) has a higher volatility of 0.86% compared to Fidelity Floating Rate High Income Fund (FFRHX) at 0.61%. This indicates that DOCT'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.

Volatility by Period

	DOCT	FFRHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.86%	0.61%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	4.40%	1.62%	+2.78%
Volatility (1Y) Calculated over the trailing 1-year period	5.96%	2.35%	+3.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.33%	2.88%	+4.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.58%	4.14%	+44.44%

DOCT vs. FFRHX - Expense Ratio Comparison

DOCT has a 0.85% expense ratio, which is higher than FFRHX's 0.67% expense ratio.

Dividends

DOCT vs. FFRHX - Dividend Comparison

DOCT has not paid dividends to shareholders, while FFRHX's dividend yield for the trailing twelve months is around 7.07%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DOCT FT Vest U.S. Equity Deep Buffer ETF - October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FFRHX Fidelity Floating Rate High Income Fund	7.07%	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

Can I hold both DOCT and FFRHX in my portfolio?

DOCT and FFRHX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DOCT or FFRHX?

DOCT has higher volatility (0.86%) compared to FFRHX (0.61%). In terms of maximum drawdown, DOCT dropped -9.92% vs FFRHX's -22.20%.

Which has better risk-adjusted returns?

DOCT currently has the higher Sharpe Ratio (2.77 vs 2.62), 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.