FDHY vs. SGOV
FDHY (Fidelity High Yield Factor ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - FDHY is a High Yield Bonds fund actively managed by Fidelity, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. FDHY is actively managed, while SGOV is passively managed. Over the past 5 years, FDHY returned 3.85%/yr vs 3.55%/yr for SGOV. At a correlation of -0.02, they often move in opposite directions. FDHY charges 0.45%/yr vs 0.09%/yr for SGOV.
Performance
FDHY vs. SGOV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FDHY achieves a 1.77% return, which is significantly higher than SGOV's 1.56% return.
FDHY
- 1D
- 0.00%
- 1M
- -0.21%
- YTD
- 1.77%
- 6M
- 2.60%
- 1Y
- 7.86%
- 3Y*
- 8.60%
- 5Y*
- 3.85%
- 10Y*
- —
SGOV
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.56%
- 6M
- 1.80%
- 1Y
- 3.95%
- 3Y*
- 4.70%
- 5Y*
- 3.55%
- 10Y*
- —
FDHY vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FDHY Fidelity High Yield Factor ETF | 1.77% | 9.24% | 7.53% | 11.14% | -11.30% | 4.33% | 12.14% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.56% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between FDHY and SGOV is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | -0.02 |
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
FDHY vs. SGOV — Risk / Return Rank
FDHY
SGOV
FDHY vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity High Yield Factor ETF (FDHY) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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.
| FDHY | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.07 | ||
| Sortino ratioReturn per unit of downside risk | -272.31 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 195.55 | -194.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.71 | 398.20 | -394.48 |
| Martin ratioReturn relative to average drawdown | 15.71 | 4,461.99 | -4,446.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| FDHY | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.20 | 20.28 | -18.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 14.78 | -14.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 12.50 | -11.79 |
Drawdowns
FDHY vs. SGOV - Drawdown Comparison
The maximum FDHY drawdown since its inception was -20.01%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for FDHY and SGOV.
Loading charts...
Drawdown Indicators
| FDHY | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.01% | -0.03% | -19.98% |
Max Drawdown (1Y)Largest decline over 1 year | -2.12% | -0.01% | -2.11% |
Max Drawdown (3Y)Largest decline over 3 years | -5.26% | -0.01% | -5.25% |
Max Drawdown (5Y)Largest decline over 5 years | -16.38% | -0.03% | -16.35% |
Current DrawdownCurrent decline from peak | -0.63% | 0.00% | -0.63% |
Average DrawdownAverage peak-to-trough decline | -2.87% | -0.00% | -2.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 0.00% | +0.50% |
Volatility
FDHY vs. SGOV - Volatility Comparison
Fidelity High Yield Factor ETF (FDHY) has a higher volatility of 1.18% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. This indicates that FDHY's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FDHY | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 0.06% | +1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 0.13% | +2.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.59% | 0.20% | +3.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.13% | 0.24% | +6.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.04% | 0.24% | +7.80% |
FDHY vs. SGOV - Expense Ratio Comparison
FDHY has a 0.45% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
FDHY vs. SGOV - Dividend Comparison
FDHY's dividend yield for the trailing twelve months is around 6.55%, more than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FDHY Fidelity High Yield Factor ETF | 6.55% | 6.56% | 6.58% | 6.26% | 5.34% | 6.09% | 5.78% | 4.94% | 2.55% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% |
Frequently Asked Questions
FDHY and SGOV have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FDHY has higher volatility (1.18%) compared to SGOV (0.06%). In terms of maximum drawdown, FDHY dropped -20.01% vs SGOV's -0.03%.
On 5-year performance, FDHY leads with 3.85% vs 3.55% for SGOV. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FDHY has performed better with a 3.85% return vs 3.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.45% for FDHY.
FDHY has the higher dividend yield at 6.55%, compared with 3.85% for SGOV.
FDHY is categorized as High Yield Bonds, while SGOV is Ultrashort Bond. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.45% for FDHY and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs 2.20), 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 FDHY and SGOV
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