FDHIX vs. FOVIX

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Short Duration High Income Fund (FDHIX) and First Trust/Confluence Small Cap Value Fund (FOVIX).

FDHIX is managed by First Trust. It was launched on Oct 31, 2012. FOVIX is managed by First Trust. It was launched on Jan 11, 2011.

Performance

FDHIX vs. FOVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Short Duration High Income Fund (FDHIX) and First Trust/Confluence Small Cap Value Fund (FOVIX). The values are adjusted to include any dividend payments, if applicable.

FDHIX vs. FOVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDHIX First Trust Short Duration High Income Fund	-2.99%	7.31%	7.09%	10.41%	-5.22%	3.56%	3.66%	9.62%	-0.63%	4.34%
FOVIX First Trust/Confluence Small Cap Value Fund	4.19%	-6.58%	-0.41%	6.42%	-19.26%	16.45%	2.06%	25.67%	-11.38%	18.72%

Returns By Period

FDHIX

• 1D: 0.11%
• 1M: -1.90%
• YTD: -2.99%
• 6M: -1.42%
• 1Y: 3.53%
• 3Y*: 6.19%
• 5Y*: 3.58%
• 10Y*: 4.25%

FOVIX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FDHIX vs. FOVIX - Expense Ratio Comparison

FDHIX has a 1.01% expense ratio, which is lower than FOVIX's 1.35% expense ratio.

FOVIX

First Trust/Confluence Small Cap Value Fund

FDHIX

First Trust Short Duration High Income Fund

Return for Risk

FDHIX vs. FOVIX — Risk / Return Rank

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

FDHIX

FDHIX Risk / Return Rank: 65
FDHIX Sharpe Ratio Rank: 76
FDHIX Sortino Ratio Rank: 80
FDHIX Omega Ratio Rank: 80
FDHIX Calmar Ratio Rank: 43
FDHIX Martin Ratio Rank: 47

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.

FDHIX vs. FOVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Short Duration High Income Fund (FDHIX) and First Trust/Confluence Small Cap Value Fund (FOVIX). 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.

	FDHIX	FOVIX	Difference
Sharpe ratio Return per unit of total volatility	1.39	—	—
Sortino ratio Return per unit of downside risk	2.07	—	—
Omega ratio Gain probability vs. loss probability	1.32	—	—
Calmar ratio Return relative to maximum drawdown	1.12	—	—
Martin ratio Return relative to average drawdown	4.77	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FDHIX	FOVIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.11	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.96	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	—	—

Correlation

The correlation between FDHIX and FOVIX is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FDHIX vs. FOVIX - Dividend Comparison

FDHIX's dividend yield for the trailing twelve months is around 5.31%, less than FOVIX's 16.01% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDHIX First Trust Short Duration High Income Fund	5.31%	6.34%	7.99%	6.76%	4.86%	3.51%	4.09%	4.57%	4.94%	4.83%	4.81%	4.59%
FOVIX First Trust/Confluence Small Cap Value Fund	16.01%	16.68%	0.00%	1.43%	12.97%	0.89%	0.00%	0.00%	14.17%	5.61%	1.28%	1.48%

Drawdowns

Drawdown Indicators

	FDHIX	FOVIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.32%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.21%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.09%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-20.32%	—	—
Current Drawdown Current decline from peak	-3.10%	—	—
Average Drawdown Average peak-to-trough decline	-1.06%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	—	—

Volatility

Volatility by Period

	FDHIX	FOVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.97%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.08%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.26%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.48%	—	—