FDHY vs. HYLB

Last updated Jun 24, 2026

FDHY (Fidelity High Yield Factor ETF) and HYLB (Xtrackers USD High Yield Corporate Bond ETF) are both High Yield Bonds funds. FDHY is actively managed, while HYLB is passively managed. Over the past 5 years, FDHY returned 3.89%/yr vs 3.93%/yr for HYLB. Their correlation of 0.84 suggests significant overlap in exposure. FDHY charges 0.45%/yr vs 0.15%/yr for HYLB.

Performance

FDHY vs. HYLB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity High Yield Factor ETF (FDHY) 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, FDHY achieves a 2.43% return, which is significantly higher than HYLB's 1.67% return.

FDHY

• 1D: -0.02%
• 1M: 0.59%
• YTD: 2.43%
• 6M: 2.90%
• 1Y: 7.74%
• 3Y*: 9.11%
• 5Y*: 3.89%
• 10Y*: —

HYLB

• 1D: -0.11%
• 1M: 0.46%
• YTD: 1.67%
• 6M: 1.81%
• 1Y: 6.11%
• 3Y*: 8.96%
• 5Y*: 3.93%
• 10Y*: —

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

FDHY vs. HYLB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FDHY Fidelity High Yield Factor ETF	2.43%	9.24%	7.53%	11.14%	-11.30%	4.33%	10.71%	16.87%	-2.35%
HYLB Xtrackers USD High Yield Corporate Bond ETF	1.67%	8.74%	8.14%	12.03%	-10.80%	3.94%	5.04%	14.06%	-2.26%

Correlation

The correlation between FDHY and HYLB is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jun 14, 2018	0.84

The correlation between FDHY and HYLB shifts across timeframes, from 0.80 (1 year) to 0.90 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FDHY vs. HYLB — Risk / Return Rank

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

FDHY

FDHY Risk / Return Rank: 77
FDHY Sharpe Ratio Rank: 71
FDHY Sortino Ratio Rank: 79
FDHY Omega Ratio Rank: 79
FDHY Calmar Ratio Rank: 75
FDHY Martin Ratio Rank: 81

HYLB

HYLB Risk / Return Rank: 56
HYLB Sharpe Ratio Rank: 49
HYLB Sortino Ratio Rank: 54
HYLB Omega Ratio Rank: 53
HYLB Calmar Ratio Rank: 57
HYLB Martin Ratio Rank: 66

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.

FDHY vs. HYLB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity High Yield Factor ETF (FDHY) 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.

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.

	FDHY	HYLB	Difference
Sharpe ratio: Return per unit of total volatility	2.18	1.63	+0.54
Sortino ratio: Return per unit of downside risk	3.33	2.47	+0.86
Omega ratio: Gain probability vs. loss probability	1.44	1.32	+0.12
Calmar ratio: Return relative to maximum drawdown	3.66	2.70	+0.96
Martin ratio: Return relative to average drawdown	15.38	11.55	+3.83

FDHY vs. HYLB - Sharpe Ratio Comparison

The current FDHY Sharpe Ratio is 2.18, which is higher than the HYLB Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of FDHY 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.

Drawdowns

FDHY vs. HYLB - Drawdown Comparison

The maximum FDHY drawdown since its inception was -20.01%, smaller than the maximum HYLB drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for FDHY and HYLB.

Drawdown Indicators

	FDHY	HYLB	Difference
Max Drawdown Largest peak-to-trough decline	-20.01%	-22.91%	+2.90%
Max Drawdown (1Y) Largest decline over 1 year	-2.12%	-2.27%	+0.15%
Max Drawdown (3Y) Largest decline over 3 years	-5.26%	-4.51%	-0.75%
Max Drawdown (5Y) Largest decline over 5 years	-16.38%	-15.54%	-0.84%
Current Drawdown Current decline from peak	-0.20%	-0.22%	+0.02%
Average Drawdown Average peak-to-trough decline	-2.86%	-2.42%	-0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.50%	0.53%	-0.03%

Volatility

FDHY vs. HYLB - Volatility Comparison

The current volatility for Fidelity High Yield Factor ETF (FDHY) is 0.82%, while Xtrackers USD High Yield Corporate Bond ETF (HYLB) has a volatility of 1.06%. This indicates that FDHY 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

	FDHY	HYLB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.82%	1.06%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	2.78%	3.02%	-0.24%
Volatility (1Y) Calculated over the trailing 1-year period	3.57%	3.77%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.14%	7.48%	-0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.02%	8.16%	-0.14%

FDHY vs. HYLB - Expense Ratio Comparison

FDHY has a 0.45% expense ratio, which is higher than HYLB's 0.15% expense ratio.

Dividends

FDHY vs. HYLB - Dividend Comparison

FDHY's dividend yield for the trailing twelve months is around 6.51%, which matches HYLB's 6.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDHY Fidelity High Yield Factor ETF	6.51%	6.56%	6.58%	6.26%	5.34%	6.09%	5.78%	4.94%	2.55%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both FDHY and HYLB in my portfolio?

FDHY and HYLB have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDHY or HYLB?

HYLB has higher volatility (1.06%) compared to FDHY (0.82%). In terms of maximum drawdown, FDHY dropped -20.01% vs HYLB's -22.91%.

Which ETF is better, FDHY or HYLB?

On 5-year performance, HYLB leads with 3.93% vs 3.89% for FDHY. On fees, HYLB is cheaper at 0.15% per year. On volatility, FDHY has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDHY or HYLB?

Over the 5-year period, HYLB has performed better with a 3.93% return vs 3.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDHY or HYLB?

HYLB is cheaper with a 0.15% expense ratio, compared with 0.45% for FDHY.

Which ETF pays a higher dividend yield, FDHY or HYLB?

FDHY has the higher dividend yield at 6.51%, compared with 6.48% for HYLB.

What is the main difference between FDHY and HYLB?

They also come from different issuers: Fidelity and DWS. Their fees differ too: 0.45% for FDHY and 0.15% for HYLB.

Which has better risk-adjusted returns?

FDHY currently has the higher Sharpe Ratio (2.18 vs 1.63), 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.