FEHIX vs. HIMU

Last updated Apr 1, 2026

Compare and contrast key facts about First Eagle High Income Fund (FEHIX) and iShares High Yield Muni Active ETF (HIMU).

FEHIX is managed by First Eagle. It was launched on Nov 19, 2007. HIMU is an actively managed fund by iShares. It was launched on Feb 7, 2025.

Performance

FEHIX vs. HIMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle High Income Fund (FEHIX) and iShares High Yield Muni Active ETF (HIMU). The values are adjusted to include any dividend payments, if applicable.

FEHIX vs. HIMU - Yearly Performance Comparison

	2026 (YTD)	2025
FEHIX First Eagle High Income Fund	-0.97%	-2.26%
HIMU iShares High Yield Muni Active ETF	-0.62%	1.14%

Returns By Period

In the year-to-date period, FEHIX achieves a -0.97% return, which is significantly lower than HIMU's -0.62% return.

FEHIX

• 1D: 0.38%
• 1M: -2.71%
• YTD: -0.97%
• 6M: -1.04%
• 1Y: -2.37%
• 3Y*: 4.82%
• 5Y*: 2.56%
• 10Y*: 4.69%

HIMU

• 1D: 0.57%
• 1M: -2.58%
• YTD: -0.62%
• 6M: 0.10%
• 1Y: 1.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FEHIX vs. HIMU - Expense Ratio Comparison

FEHIX has a 0.80% expense ratio, which is higher than HIMU's 0.42% expense ratio.

FEHIX

First Eagle High Income Fund

HIMU

iShares High Yield Muni Active ETF

Return for Risk

FEHIX vs. HIMU — Risk / Return Rank

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

FEHIX

FEHIX Risk / Return Rank: 3
FEHIX Sharpe Ratio Rank: 3
FEHIX Sortino Ratio Rank: 3
FEHIX Omega Ratio Rank: 2
FEHIX Calmar Ratio Rank: 5
FEHIX Martin Ratio Rank: 5

HIMU

HIMU Risk / Return Rank: 19
HIMU Sharpe Ratio Rank: 19
HIMU Sortino Ratio Rank: 17
HIMU Omega Ratio Rank: 19
HIMU Calmar Ratio Rank: 19
HIMU Martin Ratio Rank: 20

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.

FEHIX vs. HIMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle High Income Fund (FEHIX) and iShares High Yield Muni Active ETF (HIMU). 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.

	FEHIX	HIMU	Difference
Sharpe ratio Return per unit of total volatility	-0.28	0.25	-0.52
Sortino ratio Return per unit of downside risk	-0.31	0.38	-0.69
Omega ratio Gain probability vs. loss probability	0.95	1.06	-0.12
Calmar ratio Return relative to maximum drawdown	-0.13	0.32	-0.45
Martin ratio Return relative to average drawdown	-0.27	1.07	-1.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEHIX vs. HIMU - Sharpe Ratio Comparison

The current FEHIX Sharpe Ratio is -0.28, which is lower than the HIMU Sharpe Ratio of 0.25. The chart below compares the historical Sharpe Ratios of FEHIX and HIMU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FEHIX	HIMU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.28	0.25	-0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.95	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.06	+0.51

Correlation

The correlation between FEHIX and HIMU is 0.54, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FEHIX vs. HIMU - Dividend Comparison

FEHIX's dividend yield for the trailing twelve months is around 5.66%, more than HIMU's 5.23% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEHIX First Eagle High Income Fund	5.66%	5.92%	5.17%	4.40%	5.00%	3.87%	4.32%	4.40%	5.56%	5.22%	6.09%	7.53%
HIMU iShares High Yield Muni Active ETF	5.23%	4.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FEHIX vs. HIMU - Drawdown Comparison

The maximum FEHIX drawdown since its inception was -29.59%, which is greater than HIMU's maximum drawdown of -8.01%. Use the drawdown chart below to compare losses from any high point for FEHIX and HIMU.

Drawdown Indicators

	FEHIX	HIMU	Difference
Max Drawdown Largest peak-to-trough decline	-29.59%	-8.01%	-21.58%
Max Drawdown (1Y) Largest decline over 1 year	-8.66%	-6.93%	-1.73%
Max Drawdown (5Y) Largest decline over 5 years	-12.56%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-16.14%	—	—
Current Drawdown Current decline from peak	-4.28%	-2.58%	-1.70%
Average Drawdown Average peak-to-trough decline	-4.17%	-1.93%	-2.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.17%	2.09%	+2.08%

Volatility

FEHIX vs. HIMU - Volatility Comparison

The current volatility for First Eagle High Income Fund (FEHIX) is 1.52%, while iShares High Yield Muni Active ETF (HIMU) has a volatility of 2.21%. This indicates that FEHIX experiences smaller price fluctuations and is considered to be less risky than HIMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEHIX	HIMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.52%	2.21%	-0.69%
Volatility (6M) Calculated over the trailing 6-month period	2.71%	2.87%	-0.16%
Volatility (1Y) Calculated over the trailing 1-year period	7.39%	8.05%	-0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.35%	7.79%	-2.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.96%	7.79%	-2.83%