ESHIX vs. FIQTX
ESHIX (Eaton Vance Short Duration High Income Fund) and FIQTX (Fidelity Advisor High Income Advantage Fund Class Z) are both High Yield Bonds funds. Over the past 5 years, ESHIX returned 4.10%/yr vs 5.89%/yr for FIQTX. Their 0.71 correlation means they have sometimes moved together and sometimes differently. ESHIX charges 0.66%/yr vs 0.64%/yr for FIQTX.
Performance
ESHIX vs. FIQTX - Performance Comparison
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Returns By Period
In the year-to-date period, ESHIX achieves a 1.84% return, which is significantly lower than FIQTX's 4.93% return.
ESHIX
- 1D
- 0.11%
- 1M
- -0.34%
- 6M
- 1.37%
- YTD
- 1.84%
- 1Y
- 4.88%
- 3Y*
- 6.14%
- 5Y*
- 4.10%
- 10Y*
- 4.35%
- ALL TIME*
- 4.08%
FIQTX
- 1D
- 0.92%
- 1M
- -1.55%
- 6M
- 3.35%
- YTD
- 4.93%
- 1Y
- 10.13%
- 3Y*
- 10.64%
- 5Y*
- 5.89%
- 10Y*
- —
- ALL TIME*
- 7.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
ESHIX vs. FIQTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ESHIX Eaton Vance Short Duration High Income Fund | 1.84% | 6.94% | 7.25% | 6.74% | -3.08% | 4.92% | 3.04% | 8.83% | -1.66% |
FIQTX Fidelity Advisor High Income Advantage Fund Class Z | 4.93% | 12.17% | 10.38% | 12.37% | -11.16% | 11.13% | 9.06% | 17.93% | -6.84% |
Correlation
The correlation between ESHIX and FIQTX is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.65 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.73 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018 | 0.71 |
The correlation between ESHIX and FIQTX shifts across timeframes, from 0.62 (1 year) to 0.73 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ESHIX vs. FIQTX — Risk / Return Rank
ESHIX
FIQTX
ESHIX vs. FIQTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Short Duration High Income Fund (ESHIX) and Fidelity Advisor High Income Advantage Fund Class Z (FIQTX). 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.
| ESHIX | FIQTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +2.13 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.28 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 3.40 | 2.67 | +0.73 |
| Martin ratioReturn relative to average drawdown | 18.33 | 10.37 | +7.96 |
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Drawdowns
ESHIX vs. FIQTX - Drawdown Comparison
The maximum ESHIX drawdown since its inception was -15.73%, smaller than the maximum FIQTX drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for ESHIX and FIQTX.
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Drawdown Indicators
| ESHIX | FIQTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.73% | -28.49% | +12.76% |
Max Drawdown (1Y)Largest decline over 1 year | -1.56% | -3.71% | +2.15% |
Max Drawdown (3Y)Largest decline over 3 years | -2.13% | -6.96% | +4.83% |
Max Drawdown (5Y)Largest decline over 5 years | -6.49% | -15.16% | +8.67% |
Max Drawdown (10Y)Largest decline over 10 years | -15.73% | — | — |
Current DrawdownCurrent decline from peak | -0.45% | -2.83% | +2.38% |
Average DrawdownAverage peak-to-trough decline | -0.86% | -3.26% | +2.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.29% | 0.95% | -0.66% |
Volatility
ESHIX vs. FIQTX - Volatility Comparison
The current volatility for Eaton Vance Short Duration High Income Fund (ESHIX) is 0.41%, while Fidelity Advisor High Income Advantage Fund Class Z (FIQTX) has a volatility of 2.00%. This indicates that ESHIX experiences smaller price fluctuations and is considered to be less risky than FIQTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESHIX | FIQTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 2.00% | -1.59% |
Volatility (6M)Calculated over the trailing 6-month period | 1.97% | 5.36% | -3.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.44% | 6.37% | -3.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.08% | 6.55% | -3.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.58% | 8.37% | -4.79% |
ESHIX vs. FIQTX - Expense Ratio Comparison
ESHIX has a 0.66% expense ratio, which is higher than FIQTX's 0.64% expense ratio.
Dividends
ESHIX vs. FIQTX - Dividend Comparison
ESHIX's dividend yield for the trailing twelve months is around 5.46%, more than FIQTX's 4.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ESHIX Eaton Vance Short Duration High Income Fund | 5.46% | 6.11% | 6.64% | 4.65% | 5.07% | 4.06% | 4.83% | 4.71% | 4.99% | 4.84% | 4.30% | 4.33% |
FIQTX Fidelity Advisor High Income Advantage Fund Class Z | 4.22% | 4.83% | 5.06% | 4.79% | 7.43% | 5.01% | 3.80% | 4.61% | 2.54% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ESHIX and FIQTX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIQTX has higher volatility (2.00%) compared to ESHIX (0.41%). In terms of maximum drawdown, ESHIX dropped -15.73% vs FIQTX's -28.49%.
ESHIX currently has the higher Sharpe Ratio (2.17 vs 1.56), 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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