FAUDX vs. HYLB

Last updated Jun 3, 2026

FAUDX (Strategic Advisers Short Duration Fund) and HYLB (Xtrackers USD High Yield Corporate Bond ETF) are both funds - FAUDX is a Ultrashort Bond fund managed by Fidelity, while HYLB is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market Index. Over the past 5 years, FAUDX returned 2.52%/yr vs 4.11%/yr for HYLB. At a 0.19 correlation, their price movements are largely independent. FAUDX charges 0.26%/yr vs 0.15%/yr for HYLB.

Performance

FAUDX vs. HYLB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Strategic Advisers Short Duration Fund (FAUDX) and Xtrackers USD High Yield Corporate Bond ETF (HYLB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAUDX achieves a 0.28% return, which is significantly lower than HYLB's 1.72% return.

FAUDX

• 1D: -0.10%
• 1M: 0.14%
• YTD: 0.28%
• 6M: 0.29%
• 1Y: 2.55%
• 3Y*: 4.10%
• 5Y*: 2.52%
• 10Y*: 21.22%

HYLB

• 1D: 0.12%
• 1M: 0.26%
• YTD: 1.72%
• 6M: 2.29%
• 1Y: 7.24%
• 3Y*: 8.78%
• 5Y*: 4.11%
• 10Y*: —

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

FAUDX vs. HYLB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAUDX Strategic Advisers Short Duration Fund	0.28%	3.89%	4.75%	5.45%	-1.41%	-0.06%	2.40%	468.65%	1.30%	1.65%
HYLB Xtrackers USD High Yield Corporate Bond ETF	1.72%	8.74%	8.14%	12.03%	-10.80%	3.94%	5.04%	14.06%	-1.80%	6.00%

Correlation

The correlation between FAUDX and HYLB is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (All Time) Calculated using the full available price history since Dec 8, 2016	0.19

Over the past year, FAUDX and HYLB have become more correlated (0.43) than their long-term average of 0.19, meaning their price movements have been converging.

Return for Risk

FAUDX vs. HYLB — Risk / Return Rank

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

FAUDX

FAUDX Risk / Return Rank: 67
FAUDX Sharpe Ratio Rank: 47
FAUDX Sortino Ratio Rank: 85
FAUDX Omega Ratio Rank: 89
FAUDX Calmar Ratio Rank: 57
FAUDX Martin Ratio Rank: 57

HYLB

HYLB Risk / Return Rank: 64
HYLB Sharpe Ratio Rank: 58
HYLB Sortino Ratio Rank: 63
HYLB Omega Ratio Rank: 64
HYLB Calmar Ratio Rank: 63
HYLB Martin Ratio Rank: 72

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.

FAUDX vs. HYLB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Strategic Advisers Short Duration Fund (FAUDX) and Xtrackers USD High Yield Corporate Bond ETF (HYLB). 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.

	FAUDX	HYLB	Difference
Sharpe ratio Return per unit of total volatility	2.02	1.97	+0.05
Sortino ratio Return per unit of downside risk	4.04	2.98	+1.06
Omega ratio Gain probability vs. loss probability	1.63	1.39	+0.24
Calmar ratio Return relative to maximum drawdown	2.91	3.19	-0.27
Martin ratio Return relative to average drawdown	11.58	13.74	-2.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FAUDX vs. HYLB - Sharpe Ratio Comparison

The current FAUDX Sharpe Ratio is 2.02, which is comparable to the HYLB Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of FAUDX and HYLB, 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

	FAUDX	HYLB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	1.97	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.64	0.55	+1.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.58	-0.16

Drawdowns

FAUDX vs. HYLB - Drawdown Comparison

The maximum FAUDX drawdown since its inception was -3.86%, smaller than the maximum HYLB drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for FAUDX and HYLB.

Drawdown Indicators

	FAUDX	HYLB	Difference
Max Drawdown Largest peak-to-trough decline	-3.86%	-22.91%	+19.05%
Max Drawdown (1Y) Largest decline over 1 year	-1.00%	-2.27%	+1.27%
Max Drawdown (3Y) Largest decline over 3 years	-1.00%	-4.51%	+3.51%
Max Drawdown (5Y) Largest decline over 5 years	-3.10%	-15.54%	+12.44%
Max Drawdown (10Y) Largest decline over 10 years	-3.86%	—	—
Current Drawdown Current decline from peak	-0.10%	-0.02%	-0.08%
Average Drawdown Average peak-to-trough decline	-0.25%	-2.43%	+2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.25%	0.53%	-0.28%

Volatility

FAUDX vs. HYLB - Volatility Comparison

The current volatility for Strategic Advisers Short Duration Fund (FAUDX) is 0.56%, while Xtrackers USD High Yield Corporate Bond ETF (HYLB) has a volatility of 1.22%. This indicates that FAUDX experiences smaller price fluctuations and is considered to be less risky than HYLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAUDX	HYLB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.56%	1.22%	-0.66%
Volatility (6M) Calculated over the trailing 6-month period	1.06%	2.93%	-1.87%
Volatility (1Y) Calculated over the trailing 1-year period	1.50%	3.70%	-2.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.60%	7.47%	-5.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.32%	8.18%	+34.14%

FAUDX vs. HYLB - Expense Ratio Comparison

FAUDX has a 0.26% expense ratio, which is higher than HYLB's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FAUDX vs. HYLB - Dividend Comparison

FAUDX's dividend yield for the trailing twelve months is around 3.24%, less than HYLB's 6.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAUDX Strategic Advisers Short Duration Fund	3.24%	3.62%	4.03%	3.85%	1.50%	0.63%	1.48%	131.91%	2.30%	1.44%	1.40%	0.91%
HYLB Xtrackers USD High Yield Corporate Bond ETF	6.48%	6.29%	6.31%	5.84%	5.53%	4.45%	5.22%	5.71%	5.95%	5.85%	0.27%	0.00%

Frequently Asked Questions

Can I hold both FAUDX and HYLB in my portfolio?

FAUDX and HYLB have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAUDX or HYLB?

HYLB has higher volatility (1.22%) compared to FAUDX (0.56%). In terms of maximum drawdown, FAUDX dropped -3.86% vs HYLB's -22.91%.

Which has better risk-adjusted returns?

FAUDX currently has the higher Sharpe Ratio (2.02 vs 1.97), 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.