FDAAX vs. FFHCX
FDAAX (Franklin Floating Rate Daily Access Fund) and FFHCX (Fidelity Series Floating Rate High Income Fund) are both mutual funds - FDAAX is a Bank Loan fund managed by Franklin Templeton, while FFHCX is a High Yield Bonds fund managed by Fidelity. Over the past 10 years, FDAAX returned 4.40%/yr vs 5.72%/yr for FFHCX. A 0.59 correlation means they provide meaningful diversification when combined. FDAAX charges 0.67%/yr vs 0.00%/yr for FFHCX.
Performance
FDAAX vs. FFHCX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FDAAX achieves a 0.62% return, which is significantly lower than FFHCX's 1.87% return. Over the past 10 years, FDAAX has underperformed FFHCX with an annualized return of 4.40%, while FFHCX has yielded a comparatively higher 5.72% annualized return.
FDAAX
- 1D
- -0.14%
- 1M
- 0.34%
- YTD
- 0.62%
- 6M
- 0.81%
- 1Y
- 3.32%
- 3Y*
- 7.12%
- 5Y*
- 6.00%
- 10Y*
- 4.40%
FFHCX
- 1D
- 0.00%
- 1M
- 0.27%
- YTD
- 1.87%
- 6M
- 2.52%
- 1Y
- 6.49%
- 3Y*
- 8.03%
- 5Y*
- 6.06%
- 10Y*
- 5.72%
FDAAX vs. FFHCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FDAAX Franklin Floating Rate Daily Access Fund | 0.62% | 4.68% | 8.52% | 14.35% | -1.37% | 8.55% | -3.71% | 3.30% | 0.95% | 2.44% |
FFHCX Fidelity Series Floating Rate High Income Fund | 1.87% | 6.02% | 8.49% | 13.19% | -1.55% | 5.66% | 2.54% | 9.42% | 1.36% | 4.80% |
Correlation
The correlation between FDAAX and FFHCX is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2011 | 0.59 |
The correlation between FDAAX and FFHCX has been stable across timeframes, ranging from 0.57 to 0.64 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FDAAX vs. FFHCX — Risk / Return Rank
FDAAX
FFHCX
FDAAX vs. FFHCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Floating Rate Daily Access Fund (FDAAX) and Fidelity Series Floating Rate High Income Fund (FFHCX). 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.
| FDAAX | FFHCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.38 | ||
| Sortino ratioReturn per unit of downside risk | -4.21 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.89 | -0.60 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 5.60 | -3.76 |
| Martin ratioReturn relative to average drawdown | 5.35 | 20.06 | -14.72 |
Loading charts...
Drawdowns
FDAAX vs. FFHCX - Drawdown Comparison
The maximum FDAAX drawdown since its inception was -25.74%, which is greater than FFHCX's maximum drawdown of -21.45%. Use the drawdown chart below to compare losses from any high point for FDAAX and FFHCX.
Loading charts...
Drawdown Indicators
| FDAAX | FFHCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.74% | -21.45% | -4.29% |
Max Drawdown (1Y)Largest decline over 1 year | -1.73% | -1.14% | -0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -2.70% | -3.12% | +0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -6.22% | -5.81% | -0.41% |
Max Drawdown (10Y)Largest decline over 10 years | -18.08% | -21.45% | +3.37% |
Current DrawdownCurrent decline from peak | -0.55% | -0.46% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -1.51% | -0.92% | -0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | 0.32% | +0.28% |
Volatility
FDAAX vs. FFHCX - Volatility Comparison
Franklin Floating Rate Daily Access Fund (FDAAX) has a higher volatility of 0.89% compared to Fidelity Series Floating Rate High Income Fund (FFHCX) at 0.72%. This indicates that FDAAX's price experiences larger fluctuations and is considered to be riskier than FFHCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FDAAX | FFHCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 0.72% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.38% | 1.83% | +0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.00% | 2.62% | +0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.35% | 3.10% | +0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.85% | 4.17% | -0.32% |
FDAAX vs. FFHCX - Expense Ratio Comparison
FDAAX has a 0.67% expense ratio, which is higher than FFHCX's 0.00% expense ratio.
Dividends
FDAAX vs. FFHCX - Dividend Comparison
FDAAX's dividend yield for the trailing twelve months is around 7.90%, more than FFHCX's 7.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDAAX Franklin Floating Rate Daily Access Fund | 7.90% | 8.00% | 9.42% | 7.64% | 5.84% | 3.73% | 5.07% | 5.62% | 5.18% | 3.79% | 4.57% | 4.71% |
FFHCX Fidelity Series Floating Rate High Income Fund | 7.70% | 8.11% | 8.46% | 9.47% | 3.83% | 3.64% | 4.61% | 5.92% | 6.68% | 4.80% | 5.16% | 4.37% |
Frequently Asked Questions
FDAAX and FFHCX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FDAAX has higher volatility (0.89%) compared to FFHCX (0.72%). In terms of maximum drawdown, FDAAX dropped -25.74% vs FFHCX's -21.45%.
FFHCX currently has the higher Sharpe Ratio (2.45 vs 1.07), 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.
Find the right allocation for FDAAX and FFHCX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer