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FFRAX vs. BHYIX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between FFRAX and BHYIX is 0.21, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.


Performance

FFRAX vs. BHYIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX) and BlackRock High Yield Bond Portfolio Institutional Shares (BHYIX). The values are adjusted to include any dividend payments, if applicable.

150.00%200.00%250.00%300.00%350.00%400.00%December2025FebruaryMarchAprilMay
147.14%
408.67%
FFRAX
BHYIX

Key characteristics

Sharpe Ratio

FFRAX:

1.51

BHYIX:

1.88

Sortino Ratio

FFRAX:

2.29

BHYIX:

2.66

Omega Ratio

FFRAX:

1.54

BHYIX:

1.44

Calmar Ratio

FFRAX:

1.41

BHYIX:

1.90

Martin Ratio

FFRAX:

6.77

BHYIX:

8.15

Ulcer Index

FFRAX:

0.69%

BHYIX:

0.94%

Daily Std Dev

FFRAX:

3.09%

BHYIX:

4.08%

Max Drawdown

FFRAX:

-22.22%

BHYIX:

-34.81%

Current Drawdown

FFRAX:

-1.35%

BHYIX:

-1.09%

Returns By Period

In the year-to-date period, FFRAX achieves a -0.68% return, which is significantly lower than BHYIX's 0.85% return. Over the past 10 years, FFRAX has underperformed BHYIX with an annualized return of 4.15%, while BHYIX has yielded a comparatively higher 4.64% annualized return.


FFRAX

YTD

-0.68%

1M

1.34%

6M

0.80%

1Y

4.68%

5Y*

7.26%

10Y*

4.15%

BHYIX

YTD

0.85%

1M

2.18%

6M

1.33%

1Y

6.91%

5Y*

6.58%

10Y*

4.64%

*Annualized

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FFRAX vs. BHYIX - Expense Ratio Comparison

FFRAX has a 0.98% expense ratio, which is higher than BHYIX's 0.59% expense ratio.


Risk-Adjusted Performance

FFRAX vs. BHYIX — Risk-Adjusted Performance Rank

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

FFRAX
The Risk-Adjusted Performance Rank of FFRAX is 8989
Overall Rank
The Sharpe Ratio Rank of FFRAX is 8787
Sharpe Ratio Rank
The Sortino Ratio Rank of FFRAX is 8888
Sortino Ratio Rank
The Omega Ratio Rank of FFRAX is 9494
Omega Ratio Rank
The Calmar Ratio Rank of FFRAX is 8989
Calmar Ratio Rank
The Martin Ratio Rank of FFRAX is 8989
Martin Ratio Rank

BHYIX
The Risk-Adjusted Performance Rank of BHYIX is 9191
Overall Rank
The Sharpe Ratio Rank of BHYIX is 9191
Sharpe Ratio Rank
The Sortino Ratio Rank of BHYIX is 9090
Sortino Ratio Rank
The Omega Ratio Rank of BHYIX is 9292
Omega Ratio Rank
The Calmar Ratio Rank of BHYIX is 9292
Calmar Ratio Rank
The Martin Ratio Rank of BHYIX is 9292
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

FFRAX vs. BHYIX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX) and BlackRock High Yield Bond Portfolio Institutional Shares (BHYIX). 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.


The current FFRAX Sharpe Ratio is 1.51, which is comparable to the BHYIX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of FFRAX and BHYIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio1.001.502.002.503.003.504.00December2025FebruaryMarchAprilMay
1.51
1.66
FFRAX
BHYIX

Dividends

FFRAX vs. BHYIX - Dividend Comparison

FFRAX's dividend yield for the trailing twelve months is around 7.21%, more than BHYIX's 6.45% yield.


TTM20242023202220212020201920182017201620152014
FFRAX
Fidelity Advisor Floating Rate High Income Fund Class A
7.21%8.03%7.95%4.73%2.94%3.55%4.86%4.41%3.73%3.66%3.96%3.70%
BHYIX
BlackRock High Yield Bond Portfolio Institutional Shares
6.45%7.03%6.68%5.86%4.74%5.12%5.56%6.19%5.63%5.60%5.69%5.93%

Drawdowns

FFRAX vs. BHYIX - Drawdown Comparison

The maximum FFRAX drawdown since its inception was -22.22%, smaller than the maximum BHYIX drawdown of -34.81%. Use the drawdown chart below to compare losses from any high point for FFRAX and BHYIX. For additional features, visit the drawdowns tool.


-4.00%-3.00%-2.00%-1.00%0.00%December2025FebruaryMarchAprilMay
-1.35%
-1.09%
FFRAX
BHYIX

Volatility

FFRAX vs. BHYIX - Volatility Comparison

The current volatility for Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX) is 1.88%, while BlackRock High Yield Bond Portfolio Institutional Shares (BHYIX) has a volatility of 2.11%. This indicates that FFRAX experiences smaller price fluctuations and is considered to be less risky than BHYIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.50%1.00%1.50%2.00%2.50%December2025FebruaryMarchAprilMay
1.88%
2.11%
FFRAX
BHYIX