EVLN vs. FFRHX

Last updated Jun 4, 2026

EVLN (Eaton Vance Floating-Rate ETF) and FFRHX (Fidelity Floating Rate High Income Fund) are both funds - EVLN is a Bank Loan fund actively managed by Eaton Vance, while FFRHX is a High Yield Bonds fund managed by Fidelity. Over the past year, EVLN returned 4.86% vs 6.13% for FFRHX. At a 0.29 correlation, their price movements are largely independent. EVLN charges 0.60%/yr vs 0.67%/yr for FFRHX.

Performance

EVLN vs. FFRHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Floating-Rate ETF (EVLN) 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, EVLN achieves a 1.37% return, which is significantly lower than FFRHX's 2.05% return.

EVLN

• 1D: -0.04%
• 1M: 0.66%
• YTD: 1.37%
• 6M: 1.73%
• 1Y: 4.86%
• 3Y*: —
• 5Y*: —
• 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)

EVLN vs. FFRHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EVLN Eaton Vance Floating-Rate ETF	1.37%	5.59%	7.29%
FFRHX Fidelity Floating Rate High Income Fund	2.05%	5.47%	6.57%

Correlation

The correlation between EVLN and FFRHX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (All Time) Calculated using the full available price history since Feb 9, 2024	0.29

Return for Risk

EVLN vs. FFRHX — Risk / Return Rank

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

EVLN

EVLN Risk / Return Rank: 73
EVLN Sharpe Ratio Rank: 80
EVLN Sortino Ratio Rank: 91
EVLN Omega Ratio Rank: 88
EVLN Calmar Ratio Rank: 56
EVLN Martin Ratio Rank: 53

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.

EVLN vs. FFRHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Floating-Rate ETF (EVLN) 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.

	EVLN	FFRHX	Difference
Sharpe ratio: Return per unit of total volatility	2.61	2.62	-0.01
Sortino ratio: Return per unit of downside risk	4.39	6.30	-1.91
Omega ratio: Gain probability vs. loss probability	1.55	1.96	-0.40
Calmar ratio: Return relative to maximum drawdown	2.76	5.16	-2.40
Martin ratio: Return relative to average drawdown	9.01	18.28	-9.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVLN vs. FFRHX - Sharpe Ratio Comparison

The current EVLN Sharpe Ratio is 2.61, which is comparable to the FFRHX Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of EVLN 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

	EVLN	FFRHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.61	2.62	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.92	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.20	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.55	1.15	+1.40

Drawdowns

EVLN vs. FFRHX - Drawdown Comparison

The maximum EVLN drawdown since its inception was -2.78%, smaller than the maximum FFRHX drawdown of -22.20%. Use the drawdown chart below to compare losses from any high point for EVLN and FFRHX.

Drawdown Indicators

	EVLN	FFRHX	Difference
Max Drawdown Largest peak-to-trough decline	-2.78%	-22.20%	+19.42%
Max Drawdown (1Y) Largest decline over 1 year	-1.77%	-1.19%	-0.58%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.29%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-5.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.20%	—
Current Drawdown Current decline from peak	-0.04%	-0.11%	+0.07%
Average Drawdown Average peak-to-trough decline	-0.22%	-1.15%	+0.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	0.34%	+0.20%

Volatility

EVLN vs. FFRHX - Volatility Comparison

The current volatility for Eaton Vance Floating-Rate ETF (EVLN) is 0.46%, while Fidelity Floating Rate High Income Fund (FFRHX) has a volatility of 0.61%. This indicates that EVLN experiences smaller price fluctuations and is considered to be less risky than FFRHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVLN	FFRHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.46%	0.61%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	1.62%	1.62%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	1.89%	2.35%	-0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.43%	2.88%	-0.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.43%	4.14%	-1.71%

EVLN vs. FFRHX - Expense Ratio Comparison

EVLN has a 0.60% expense ratio, which is lower than FFRHX's 0.67% expense ratio.

Dividends

EVLN vs. FFRHX - Dividend Comparison

EVLN's dividend yield for the trailing twelve months is around 6.92%, less than FFRHX's 7.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EVLN Eaton Vance Floating-Rate ETF	6.92%	7.28%	6.41%	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 EVLN and FFRHX in my portfolio?

EVLN and FFRHX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EVLN or FFRHX?

FFRHX has higher volatility (0.61%) compared to EVLN (0.46%). In terms of maximum drawdown, EVLN dropped -2.78% vs FFRHX's -22.20%.

Which has better risk-adjusted returns?

FFRHX currently has the higher Sharpe Ratio (2.62 vs 2.61), 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.