FDHIX vs. VARBX
Compare and contrast key facts about First Trust Short Duration High Income Fund (FDHIX) and Vivaldi Merger Arbitrage Fund Class I (VARBX).
FDHIX is managed by First Trust. It was launched on Oct 31, 2012. VARBX is managed by First Trust. It was launched on Oct 1, 2015.
Performance
FDHIX vs. VARBX - Performance Comparison
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FDHIX vs. VARBX - 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% |
VARBX Vivaldi Merger Arbitrage Fund Class I | 0.76% | 6.06% | 12.64% | 3.30% | 2.38% | 5.42% | 4.00% | 4.28% | 4.11% | 2.39% |
Returns By Period
In the year-to-date period, FDHIX achieves a -2.99% return, which is significantly lower than VARBX's 0.76% return. Both investments have delivered pretty close results over the past 10 years, with FDHIX having a 4.25% annualized return and VARBX not far ahead at 4.44%.
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%
VARBX
- 1D
- 0.00%
- 1M
- 0.38%
- YTD
- 0.76%
- 6M
- 2.21%
- 1Y
- 5.36%
- 3Y*
- 7.33%
- 5Y*
- 5.43%
- 10Y*
- 4.44%
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FDHIX vs. VARBX - Expense Ratio Comparison
FDHIX has a 1.01% expense ratio, which is lower than VARBX's 1.81% expense ratio.
Return for Risk
FDHIX vs. VARBX — Risk / Return Rank
FDHIX
VARBX
FDHIX vs. VARBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Short Duration High Income Fund (FDHIX) and Vivaldi Merger Arbitrage Fund Class I (VARBX). 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 | VARBX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.39 | 4.06 | -2.67 |
Sortino ratioReturn per unit of downside risk | 2.07 | 6.90 | -4.83 |
Omega ratioGain probability vs. loss probability | 1.32 | 2.36 | -1.04 |
Calmar ratioReturn relative to maximum drawdown | 1.12 | 8.40 | -7.28 |
Martin ratioReturn relative to average drawdown | 4.77 | 36.29 | -31.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FDHIX | VARBX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.39 | 4.06 | -2.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.11 | 1.65 | -0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.96 | 1.33 | -0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.00 | 1.40 | -0.40 |
Correlation
The correlation between FDHIX and VARBX is 0.17, 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. VARBX - Dividend Comparison
FDHIX's dividend yield for the trailing twelve months is around 5.31%, less than VARBX's 5.99% 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% |
VARBX Vivaldi Merger Arbitrage Fund Class I | 5.99% | 6.04% | 12.59% | 4.07% | 0.75% | 8.42% | 0.81% | 5.54% | 2.15% | 1.70% | 0.06% | 0.04% |
Drawdowns
FDHIX vs. VARBX - Drawdown Comparison
The maximum FDHIX drawdown since its inception was -20.32%, which is greater than VARBX's maximum drawdown of -5.12%. Use the drawdown chart below to compare losses from any high point for FDHIX and VARBX.
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Drawdown Indicators
| FDHIX | VARBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.32% | -5.12% | -15.20% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -0.64% | -2.57% |
Max Drawdown (5Y)Largest decline over 5 years | -9.09% | -1.79% | -7.30% |
Max Drawdown (10Y)Largest decline over 10 years | -20.32% | -5.12% | -15.20% |
Current DrawdownCurrent decline from peak | -3.10% | 0.00% | -3.10% |
Average DrawdownAverage peak-to-trough decline | -1.06% | -0.57% | -0.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 0.15% | +0.60% |
Volatility
FDHIX vs. VARBX - Volatility Comparison
First Trust Short Duration High Income Fund (FDHIX) has a higher volatility of 1.22% compared to Vivaldi Merger Arbitrage Fund Class I (VARBX) at 0.32%. This indicates that FDHIX's price experiences larger fluctuations and is considered to be riskier than VARBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDHIX | VARBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 0.32% | +0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 1.97% | 0.73% | +1.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.08% | 1.35% | +1.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.26% | 3.31% | -0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 3.35% | +1.13% |