FAHDX vs. USHY
FAHDX (Fidelity Advisor High Income Advantage Fund Class A) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both High Yield Bonds funds. Over the past 5 years, FAHDX returned 5.90%/yr vs 4.14%/yr for USHY. A 0.71 correlation means they provide meaningful diversification when combined. FAHDX charges 0.99%/yr vs 0.15%/yr for USHY.
Performance
FAHDX vs. USHY - Performance Comparison
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Returns By Period
In the year-to-date period, FAHDX achieves a 6.51% return, which is significantly higher than USHY's 1.78% return.
FAHDX
- 1D
- 0.00%
- 1M
- 0.17%
- YTD
- 6.51%
- 6M
- 6.73%
- 1Y
- 14.09%
- 3Y*
- 11.78%
- 5Y*
- 5.90%
- 10Y*
- 7.66%
USHY
- 1D
- 0.08%
- 1M
- 0.27%
- YTD
- 1.78%
- 6M
- 1.74%
- 1Y
- 6.15%
- 3Y*
- 9.14%
- 5Y*
- 4.14%
- 10Y*
- —
FAHDX vs. USHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FAHDX Fidelity Advisor High Income Advantage Fund Class A | 6.51% | 11.79% | 9.26% | 12.00% | -11.37% | 10.78% | 8.72% | 17.39% | -5.44% | 1.87% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 1.78% | 8.81% | 8.45% | 12.73% | -11.18% | 5.02% | 6.17% | 14.24% | -2.41% | 0.16% |
Correlation
The correlation between FAHDX and USHY is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017 | 0.71 |
The correlation between FAHDX and USHY has been stable across timeframes, ranging from 0.68 to 0.72 - a consistent structural relationship.
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Return for Risk
FAHDX vs. USHY — Risk / Return Rank
FAHDX
USHY
FAHDX vs. USHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor High Income Advantage Fund Class A (FAHDX) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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.
| FAHDX | USHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.32 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 4.49 | 2.55 | +1.95 |
| Martin ratioReturn relative to average drawdown | 18.04 | 11.38 | +6.66 |
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Drawdowns
FAHDX vs. USHY - Drawdown Comparison
The maximum FAHDX drawdown since its inception was -48.43%, which is greater than USHY's maximum drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for FAHDX and USHY.
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Drawdown Indicators
| FAHDX | USHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.43% | -22.44% | -25.99% |
Max Drawdown (1Y)Largest decline over 1 year | -3.15% | -2.43% | -0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -7.00% | -4.66% | -2.34% |
Max Drawdown (5Y)Largest decline over 5 years | -15.29% | -15.56% | +0.27% |
Max Drawdown (10Y)Largest decline over 10 years | -28.43% | — | — |
Current DrawdownCurrent decline from peak | -1.12% | -0.11% | -1.01% |
Average DrawdownAverage peak-to-trough decline | -5.20% | -2.65% | -2.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.54% | +0.24% |
Volatility
FAHDX vs. USHY - Volatility Comparison
Fidelity Advisor High Income Advantage Fund Class A (FAHDX) has a higher volatility of 2.69% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 0.90%. This indicates that FAHDX's price experiences larger fluctuations and is considered to be riskier than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAHDX | USHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.69% | 0.90% | +1.79% |
Volatility (6M)Calculated over the trailing 6-month period | 4.89% | 2.96% | +1.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.94% | 3.67% | +2.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.45% | 7.35% | -0.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.64% | 8.23% | -0.59% |
FAHDX vs. USHY - Expense Ratio Comparison
FAHDX has a 0.99% expense ratio, which is higher than USHY's 0.15% expense ratio.
Dividends
FAHDX vs. USHY - Dividend Comparison
FAHDX's dividend yield for the trailing twelve months is around 4.15%, less than USHY's 6.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAHDX Fidelity Advisor High Income Advantage Fund Class A | 4.15% | 4.45% | 3.95% | 4.47% | 6.87% | 4.56% | 3.47% | 4.26% | 5.72% | 4.66% | 5.28% | 4.20% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.90% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% | 0.00% | 0.00% |
Frequently Asked Questions
FAHDX and USHY have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAHDX has higher volatility (2.69%) compared to USHY (0.90%). In terms of maximum drawdown, FAHDX dropped -48.43% vs USHY's -22.44%.
FAHDX currently has the higher Sharpe Ratio (2.40 vs 1.69), 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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