Correlation
The correlation between EKHAX and FFRHX is 0.21, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
EKHAX vs. FFRHX
Compare and contrast key facts about Allspring High Yield Bond Fund (EKHAX) and Fidelity Floating Rate High Income Fund (FFRHX).
EKHAX is managed by Allspring Global Investments. It was launched on Jan 20, 1998. FFRHX is managed by Fidelity. It was launched on Aug 16, 2000.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: EKHAX or FFRHX.
Performance
EKHAX vs. FFRHX - Performance Comparison
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Key characteristics
EKHAX:
2.30
FFRHX:
1.98
EKHAX:
3.30
FFRHX:
2.82
EKHAX:
1.58
FFRHX:
1.66
EKHAX:
2.30
FFRHX:
1.70
EKHAX:
10.15
FFRHX:
8.23
EKHAX:
0.92%
FFRHX:
0.68%
EKHAX:
4.24%
FFRHX:
3.22%
EKHAX:
-34.72%
FFRHX:
-22.19%
EKHAX:
-0.18%
FFRHX:
0.00%
Returns By Period
In the year-to-date period, EKHAX achieves a 1.63% return, which is significantly higher than FFRHX's 0.77% return. Both investments have delivered pretty close results over the past 10 years, with EKHAX having a 4.50% annualized return and FFRHX not far ahead at 4.63%.
EKHAX
1.63%
1.35%
1.88%
9.68%
7.76%
5.34%
4.50%
FFRHX
0.77%
1.11%
1.77%
6.42%
7.98%
7.06%
4.63%
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EKHAX vs. FFRHX - Expense Ratio Comparison
EKHAX has a 0.93% expense ratio, which is higher than FFRHX's 0.67% expense ratio.
Risk-Adjusted Performance
EKHAX vs. FFRHX — Risk-Adjusted Performance Rank
EKHAX
FFRHX
EKHAX vs. FFRHX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Allspring High Yield Bond Fund (EKHAX) 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.
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Dividends
EKHAX vs. FFRHX - Dividend Comparison
EKHAX's dividend yield for the trailing twelve months is around 7.88%, less than FFRHX's 8.03% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EKHAX Allspring High Yield Bond Fund | 7.88% | 9.46% | 8.86% | 5.10% | 3.50% | 3.62% | 4.11% | 4.64% | 4.32% | 4.12% | 4.31% | 4.28% |
FFRHX Fidelity Floating Rate High Income Fund | 8.03% | 8.33% | 8.25% | 5.06% | 3.27% | 3.85% | 5.17% | 4.75% | 4.05% | 3.94% | 4.25% | 4.00% |
Drawdowns
EKHAX vs. FFRHX - Drawdown Comparison
The maximum EKHAX drawdown since its inception was -34.72%, which is greater than FFRHX's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for EKHAX and FFRHX.
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Volatility
EKHAX vs. FFRHX - Volatility Comparison
Allspring High Yield Bond Fund (EKHAX) has a higher volatility of 1.15% compared to Fidelity Floating Rate High Income Fund (FFRHX) at 0.63%. This indicates that EKHAX'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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