FELC vs. HYGH
FELC (Fidelity Enhanced Large Cap Core ETF) and HYGH (iShares Interest Rate Hedged High Yield Bond ETF) are both exchange-traded funds - FELC is a Large Cap Blend Equities fund actively managed by Fidelity, while HYGH is a High Yield Bonds fund actively managed by iShares. Both are actively managed. Over the past year, FELC returned 26.15% vs 8.03% for HYGH. A 0.57 correlation means they provide meaningful diversification when combined. FELC charges 0.18%/yr vs 0.53%/yr for HYGH.
Performance
FELC vs. HYGH - Performance Comparison
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Returns By Period
In the year-to-date period, FELC achieves a 9.10% return, which is significantly higher than HYGH's 3.24% return.
FELC
- 1D
- 0.48%
- 1M
- -0.81%
- YTD
- 9.10%
- 6M
- 9.67%
- 1Y
- 26.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYGH
- 1D
- 0.17%
- 1M
- 0.74%
- YTD
- 3.24%
- 6M
- 3.69%
- 1Y
- 8.03%
- 3Y*
- 9.63%
- 5Y*
- 7.00%
- 10Y*
- 6.50%
FELC vs. HYGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FELC Fidelity Enhanced Large Cap Core ETF | 9.10% | 17.09% | 25.25% | 6.06% |
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 3.24% | 6.94% | 11.22% | 2.53% |
Correlation
The correlation between FELC and HYGH is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023 | 0.57 |
The correlation between FELC and HYGH has been stable across timeframes, ranging from 0.57 to 0.63 - a consistent structural relationship.
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Return for Risk
FELC vs. HYGH — Risk / Return Rank
FELC
HYGH
FELC vs. HYGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Large Cap Core ETF (FELC) and iShares Interest Rate Hedged High Yield Bond ETF (HYGH). 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.
| FELC | HYGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.41 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.73 | 4.88 | -2.15 |
| Martin ratioReturn relative to average drawdown | 12.29 | 19.08 | -6.79 |
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Drawdowns
FELC vs. HYGH - Drawdown Comparison
The maximum FELC drawdown since its inception was -18.59%, smaller than the maximum HYGH drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for FELC and HYGH.
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Drawdown Indicators
| FELC | HYGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.59% | -23.88% | +5.29% |
Max Drawdown (1Y)Largest decline over 1 year | -9.09% | -1.62% | -7.47% |
Max Drawdown (3Y)Largest decline over 3 years | — | -8.06% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.24% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.88% | — |
Current DrawdownCurrent decline from peak | -2.49% | 0.00% | -2.49% |
Average DrawdownAverage peak-to-trough decline | -1.91% | -2.22% | +0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 0.41% | +1.61% |
Volatility
FELC vs. HYGH - Volatility Comparison
Fidelity Enhanced Large Cap Core ETF (FELC) has a higher volatility of 4.49% compared to iShares Interest Rate Hedged High Yield Bond ETF (HYGH) at 0.68%. This indicates that FELC's price experiences larger fluctuations and is considered to be riskier than HYGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FELC | HYGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.49% | 0.68% | +3.81% |
Volatility (6M)Calculated over the trailing 6-month period | 9.69% | 2.80% | +6.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.45% | 3.66% | +8.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.26% | 7.07% | +8.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.26% | 8.34% | +6.92% |
FELC vs. HYGH - Expense Ratio Comparison
FELC has a 0.18% expense ratio, which is lower than HYGH's 0.53% expense ratio.
Dividends
FELC vs. HYGH - Dividend Comparison
FELC's dividend yield for the trailing twelve months is around 0.87%, less than HYGH's 6.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FELC Fidelity Enhanced Large Cap Core ETF | 0.87% | 0.92% | 1.03% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 6.60% | 6.86% | 7.85% | 8.95% | 6.21% | 3.74% | 4.06% | 4.89% | 6.45% | 4.79% | 4.60% | 5.75% |
Frequently Asked Questions
FELC and HYGH have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FELC has higher volatility (4.49%) compared to HYGH (0.68%). In terms of maximum drawdown, FELC dropped -18.59% vs HYGH's -23.88%.
On 1-year performance, FELC leads with 26.15% vs 8.03% for HYGH. On fees, FELC is cheaper at 0.18% per year. On volatility, HYGH has been the lower-risk option at 0.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FELC has performed better with a 26.15% return vs 8.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FELC is cheaper with a 0.18% expense ratio, compared with 0.53% for HYGH.
HYGH has the higher dividend yield at 6.60%, compared with 0.87% for FELC.
FELC is categorized as Large Cap Blend Equities, while HYGH is High Yield Bonds. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.18% for FELC and 0.53% for HYGH.
HYGH currently has the higher Sharpe Ratio (2.16 vs 1.99), 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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