FFRAX vs. FFHCX
Compare and contrast key facts about Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX) and Fidelity Series Floating Rate High Income Fund (FFHCX).
FFRAX is managed by Fidelity. It was launched on Aug 16, 2000. FFHCX is managed by Fidelity. It was launched on Oct 20, 2011.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FFRAX or FFHCX.
Key characteristics
| FFRAX | FFHCX | |
|---|---|---|
| YTD Return | 7.68% | 8.66% |
| 1Y Return | 9.65% | 10.76% |
| 3Y Return (Ann) | 6.00% | 7.04% |
| 5Y Return (Ann) | 5.32% | 6.39% |
| 10Y Return (Ann) | 4.26% | 5.12% |
| Sharpe Ratio | 3.82 | 3.70 |
| Sortino Ratio | 10.47 | 11.32 |
| Omega Ratio | 3.60 | 3.35 |
| Calmar Ratio | 11.18 | 11.93 |
| Martin Ratio | 58.54 | 56.03 |
| Ulcer Index | 0.16% | 0.19% |
| Daily Std Dev | 2.51% | 2.86% |
| Max Drawdown | -22.22% | -21.45% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between FFRAX and FFHCX is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
FFRAX vs. FFHCX - Performance Comparison
In the year-to-date period, FFRAX achieves a 7.68% return, which is significantly lower than FFHCX's 8.66% return. Over the past 10 years, FFRAX has underperformed FFHCX with an annualized return of 4.26%, while FFHCX has yielded a comparatively higher 5.12% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FFRAX vs. FFHCX - Expense Ratio Comparison
FFRAX has a 0.98% expense ratio, which is higher than FFHCX's 0.00% expense ratio.
Risk-Adjusted Performance
FFRAX vs. FFHCX - 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 Fidelity Series Floating Rate High Income Fund (FFHCX). 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.
Dividends
FFRAX vs. FFHCX - Dividend Comparison
FFRAX's dividend yield for the trailing twelve months is around 8.08%, less than FFHCX's 9.84% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFRAX Fidelity Advisor Floating Rate High Income Fund Class A | 8.08% | 7.95% | 4.73% | 2.94% | 3.55% | 4.86% | 4.41% | 3.73% | 3.66% | 3.96% | 3.70% | 3.18% |
FFHCX Fidelity Series Floating Rate High Income Fund | 9.84% | 9.47% | 5.91% | 4.31% | 4.61% | 5.94% | 6.69% | 4.79% | 4.42% | 5.15% | 8.23% | 4.40% |
Drawdowns
FFRAX vs. FFHCX - Drawdown Comparison
The maximum FFRAX drawdown since its inception was -22.22%, roughly equal to the maximum FFHCX drawdown of -21.45%. Use the drawdown chart below to compare losses from any high point for FFRAX and FFHCX. For additional features, visit the drawdowns tool.
Volatility
FFRAX vs. FFHCX - Volatility Comparison
The current volatility for Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX) is 0.62%, while Fidelity Series Floating Rate High Income Fund (FFHCX) has a volatility of 0.69%. This indicates that FFRAX experiences smaller price fluctuations and is considered to be less risky than FFHCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.