FDLO vs. SIXH

Last updated Jul 14, 2026

FDLO (Fidelity Low Volatility Factor ETF) and SIXH (6 Meridian Hedged Equity-Index Option Strategy ETF) are both Volatility Hedged Equity funds. FDLO is passively managed, while SIXH is actively managed. Over the past 5 years, FDLO returned 9.29%/yr vs 9.59%/yr for SIXH. A 0.54 correlation means they provide meaningful diversification when combined. FDLO charges 0.15%/yr vs 0.87%/yr for SIXH.

Performance

FDLO vs. SIXH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Low Volatility Factor ETF (FDLO) and 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDLO achieves a 6.18% return, which is significantly lower than SIXH's 10.69% return.

FDLO

• 1D: 0.23%
• 1M: 1.82%
• 6M: 4.29%
• YTD: 6.18%
• 1Y: 13.30%
• 3Y*: 13.54%
• 5Y*: 9.29%
• 10Y*: —

SIXH

• 1D: 0.26%
• 1M: 0.51%
• 6M: 9.67%
• YTD: 10.69%
• 1Y: 14.63%
• 3Y*: 13.22%
• 5Y*: 9.59%
• 10Y*: —

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

FDLO vs. SIXH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FDLO Fidelity Low Volatility Factor ETF	6.18%	11.77%	16.06%	16.38%	-10.38%	24.00%	22.78%
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	10.69%	9.47%	12.06%	4.93%	6.90%	18.37%	6.49%

Correlation

The correlation between FDLO and SIXH is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since May 11, 2020	0.54

The correlation between FDLO and SIXH shifts across timeframes, from 0.39 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FDLO vs. SIXH — Risk / Return Rank

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

FDLO

FDLO Risk / Return Rank: 53
FDLO Sharpe Ratio Rank: 55
FDLO Sortino Ratio Rank: 55
FDLO Omega Ratio Rank: 53
FDLO Calmar Ratio Rank: 47
FDLO Martin Ratio Rank: 56

SIXH

SIXH Risk / Return Rank: 71
SIXH Sharpe Ratio Rank: 71
SIXH Sortino Ratio Rank: 80
SIXH Omega Ratio Rank: 67
SIXH Calmar Ratio Rank: 78
SIXH Martin Ratio Rank: 58

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.

FDLO vs. SIXH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Low Volatility Factor ETF (FDLO) and 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH). 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.

	FDLO	SIXH	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.81	-0.32
Sortino ratio: Return per unit of downside risk	2.12	2.83	-0.71
Omega ratio: Gain probability vs. loss probability	1.27	1.32	-0.05
Calmar ratio: Return relative to maximum drawdown	1.87	3.22	-1.34
Martin ratio: Return relative to average drawdown	7.60	8.17	-0.57

FDLO vs. SIXH - Sharpe Ratio Comparison

The current FDLO Sharpe Ratio is 1.50, which is comparable to the SIXH Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of FDLO and SIXH, 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

FDLO vs. SIXH - Drawdown Comparison

The maximum FDLO drawdown since its inception was -34.35%, which is greater than SIXH's maximum drawdown of -11.68%. Use the drawdown chart below to compare losses from any high point for FDLO and SIXH.

Drawdown Indicators

	FDLO	SIXH	Difference
Max Drawdown Largest peak-to-trough decline	-34.35%	-11.68%	-22.67%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-4.36%	-2.77%
Max Drawdown (3Y) Largest decline over 3 years	-13.68%	-9.10%	-4.58%
Max Drawdown (5Y) Largest decline over 5 years	-19.23%	-11.68%	-7.55%
Current Drawdown Current decline from peak	-0.06%	-0.17%	+0.11%
Average Drawdown Average peak-to-trough decline	-3.36%	-1.83%	-1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	1.72%	+0.03%

Volatility

FDLO vs. SIXH - Volatility Comparison

Fidelity Low Volatility Factor ETF (FDLO) has a higher volatility of 3.01% compared to 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) at 2.16%. This indicates that FDLO's price experiences larger fluctuations and is considered to be riskier than SIXH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDLO	SIXH	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.01%	2.16%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	6.87%	6.19%	+0.68%
Volatility (1Y) Calculated over the trailing 1-year period	8.94%	7.74%	+1.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.10%	10.37%	+2.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.46%	10.10%	+5.36%

FDLO vs. SIXH - Expense Ratio Comparison

FDLO has a 0.15% expense ratio, which is lower than SIXH's 0.87% expense ratio.

Dividends

FDLO vs. SIXH - Dividend Comparison

FDLO's dividend yield for the trailing twelve months is around 1.40%, less than SIXH's 1.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDLO Fidelity Low Volatility Factor ETF	1.40%	1.37%	1.40%	1.35%	1.49%	1.11%	1.38%	1.55%	1.76%	1.61%	0.55%
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	1.86%	2.23%	1.55%	2.04%	2.06%	1.65%	1.10%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDLO and SIXH in my portfolio?

FDLO and SIXH have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDLO or SIXH?

FDLO has higher volatility (3.01%) compared to SIXH (2.16%). In terms of maximum drawdown, FDLO dropped -34.35% vs SIXH's -11.68%.

Which ETF is better, FDLO or SIXH?

On 5-year performance, SIXH leads with 9.59% vs 9.29% for FDLO. On fees, FDLO is cheaper at 0.15% per year. On volatility, SIXH has been the lower-risk option at 2.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDLO or SIXH?

Over the 5-year period, SIXH has performed better with a 9.59% return vs 9.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDLO or SIXH?

FDLO is cheaper with a 0.15% expense ratio, compared with 0.87% for SIXH.

Which ETF pays a higher dividend yield, FDLO or SIXH?

SIXH has the higher dividend yield at 1.86%, compared with 1.40% for FDLO.

What is the main difference between FDLO and SIXH?

They also come from different issuers: Fidelity and Exchange Traded Concepts. Their fees differ too: 0.15% for FDLO and 0.87% for SIXH.

Which has better risk-adjusted returns?

SIXH currently has the higher Sharpe Ratio (1.81 vs 1.50), 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.