FDHY vs. IBIC
FDHY (Fidelity High Yield Factor ETF) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - FDHY is a High Yield Bonds fund actively managed by Fidelity, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. FDHY is actively managed, while IBIC is passively managed. Over the past year, FDHY returned 7.74% vs 4.42% for IBIC. At a 0.14 correlation, their price movements are largely independent. FDHY charges 0.45%/yr vs 0.10%/yr for IBIC.
Performance
FDHY vs. IBIC - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with FDHY at 2.43% and IBIC at 2.43%.
FDHY
- 1D
- -0.02%
- 1M
- 0.59%
- YTD
- 2.43%
- 6M
- 2.90%
- 1Y
- 7.74%
- 3Y*
- 9.11%
- 5Y*
- 3.89%
- 10Y*
- —
IBIC
- 1D
- 0.04%
- 1M
- 0.12%
- YTD
- 2.43%
- 6M
- 2.57%
- 1Y
- 4.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FDHY vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FDHY Fidelity High Yield Factor ETF | 2.43% | 9.24% | 7.53% | 5.49% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.43% | 4.96% | 5.25% | 2.17% |
Correlation
The correlation between FDHY and IBIC is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | 0.14 |
The correlation between FDHY and IBIC shifts across timeframes, from -0.12 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FDHY vs. IBIC — Risk / Return Rank
FDHY
IBIC
FDHY vs. IBIC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity High Yield Factor ETF (FDHY) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). 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 | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.81 | ||
| Sortino ratioReturn per unit of downside risk | -5.64 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 2.22 | -0.78 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 16.56 | -12.91 |
| Martin ratioReturn relative to average drawdown | 15.38 | 58.67 | -43.29 |
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Drawdowns
FDHY vs. IBIC - Drawdown Comparison
The maximum FDHY drawdown since its inception was -20.01%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for FDHY and IBIC.
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Drawdown Indicators
| FDHY | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.01% | -0.90% | -19.11% |
Max Drawdown (1Y)Largest decline over 1 year | -2.12% | -0.27% | -1.85% |
Max Drawdown (3Y)Largest decline over 3 years | -5.26% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.38% | — | — |
Current DrawdownCurrent decline from peak | -0.20% | -0.08% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -2.86% | -0.10% | -2.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 0.08% | +0.42% |
Volatility
FDHY vs. IBIC - Volatility Comparison
Fidelity High Yield Factor ETF (FDHY) has a higher volatility of 0.82% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.17%. This indicates that FDHY's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDHY | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 0.17% | +0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 0.67% | +2.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.57% | 0.89% | +2.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.14% | 1.56% | +5.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.02% | 1.56% | +6.46% |
FDHY vs. IBIC - Expense Ratio Comparison
FDHY has a 0.45% expense ratio, which is higher than IBIC's 0.10% expense ratio.
Dividends
FDHY vs. IBIC - Dividend Comparison
FDHY's dividend yield for the trailing twelve months is around 6.51%, more than IBIC's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FDHY Fidelity High Yield Factor ETF | 6.51% | 6.56% | 6.58% | 6.26% | 5.34% | 6.09% | 5.78% | 4.94% | 2.55% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.58% | 4.43% | 4.65% | 0.83% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FDHY and IBIC have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FDHY has higher volatility (0.82%) compared to IBIC (0.17%). In terms of maximum drawdown, FDHY dropped -20.01% vs IBIC's -0.90%.
On 1-year performance, FDHY leads with 7.74% vs 4.42% for IBIC. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FDHY has performed better with a 7.74% return vs 4.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC is cheaper with a 0.10% expense ratio, compared with 0.45% for FDHY.
FDHY has the higher dividend yield at 6.51%, compared with 3.58% for IBIC.
FDHY is categorized as High Yield Bonds, while IBIC is Inflation-Protected Bonds. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.45% for FDHY and 0.10% for IBIC.
IBIC currently has the higher Sharpe Ratio (4.99 vs 2.18), 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.
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