FFRHX vs. AGZD
FFRHX (Fidelity Floating Rate High Income Fund) and AGZD (WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund) are both funds - FFRHX is a Bank Loan fund actively managed by Fidelity, while AGZD is a Nontraditional Bonds fund tracking the Bloomberg Rate Hedged U.S. Aggregate Bond Index, Zero Duration. FFRHX is actively managed, while AGZD is passively managed. Over the past 10 years, FFRHX returned 4.91%/yr vs 3.19%/yr for AGZD. At a 0.09 correlation, their price movements are largely independent. FFRHX charges 0.67%/yr vs 0.23%/yr for AGZD.
Performance
FFRHX vs. AGZD - Performance Comparison
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Returns By Period
In the year-to-date period, FFRHX achieves a 1.82% return, which is significantly lower than AGZD's 2.47% return. Over the past 10 years, FFRHX has outperformed AGZD with an annualized return of 4.91%, while AGZD has yielded a comparatively lower 3.19% annualized return.
FFRHX
- 1D
- -0.11%
- 1M
- 0.33%
- YTD
- 1.82%
- 6M
- 2.24%
- 1Y
- 5.90%
- 3Y*
- 7.48%
- 5Y*
- 5.42%
- 10Y*
- 4.91%
AGZD
- 1D
- -0.38%
- 1M
- 0.49%
- YTD
- 2.47%
- 6M
- 2.73%
- 1Y
- 5.70%
- 3Y*
- 6.10%
- 5Y*
- 4.39%
- 10Y*
- 3.19%
FFRHX vs. AGZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FFRHX Fidelity Floating Rate High Income Fund | 1.82% | 5.47% | 7.10% | 12.63% | -1.55% | 5.01% | 1.69% | 8.63% | 0.10% | 3.91% |
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund | 2.47% | 4.35% | 6.64% | 7.15% | 1.17% | 0.69% | 0.31% | 4.65% | 0.18% | 2.62% |
Correlation
The correlation between FFRHX and AGZD is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Dec 18, 2013 | 0.09 |
The correlation between FFRHX and AGZD shifts across timeframes, from -0.05 (1 year) to 0.10 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FFRHX vs. AGZD — Risk / Return Rank
FFRHX
AGZD
FFRHX vs. AGZD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Floating Rate High Income Fund (FFRHX) and WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD). 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.
| FFRHX | AGZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +3.09 | ||
| Omega ratioGain probability vs. loss probability | 1.89 | 1.39 | +0.50 |
| Calmar ratioReturn relative to maximum drawdown | 4.97 | 6.60 | -1.63 |
| Martin ratioReturn relative to average drawdown | 17.53 | 20.71 | -3.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FFRHX | AGZD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.51 | 1.94 | +0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.89 | 1.23 | +0.66 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.19 | 0.86 | +0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.15 | 0.65 | +0.50 |
Drawdowns
FFRHX vs. AGZD - Drawdown Comparison
The maximum FFRHX drawdown since its inception was -22.20%, which is greater than AGZD's maximum drawdown of -8.46%. Use the drawdown chart below to compare losses from any high point for FFRHX and AGZD.
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Drawdown Indicators
| FFRHX | AGZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.20% | -8.46% | -13.74% |
Max Drawdown (1Y)Largest decline over 1 year | -1.19% | -0.87% | -0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -3.29% | -1.71% | -1.58% |
Max Drawdown (5Y)Largest decline over 5 years | -5.90% | -2.23% | -3.67% |
Max Drawdown (10Y)Largest decline over 10 years | -22.20% | -8.46% | -13.74% |
Current DrawdownCurrent decline from peak | -0.33% | -0.38% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -1.15% | -0.77% | -0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.34% | 0.28% | +0.06% |
Volatility
FFRHX vs. AGZD - Volatility Comparison
The current volatility for Fidelity Floating Rate High Income Fund (FFRHX) is 0.63%, while WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD) has a volatility of 1.18%. This indicates that FFRHX experiences smaller price fluctuations and is considered to be less risky than AGZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FFRHX | AGZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 1.18% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 1.63% | 2.05% | -0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.36% | 2.95% | -0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.88% | 3.60% | -0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.14% | 3.72% | +0.42% |
FFRHX vs. AGZD - Expense Ratio Comparison
FFRHX has a 0.67% expense ratio, which is higher than AGZD's 0.23% expense ratio.
Dividends
FFRHX vs. AGZD - Dividend Comparison
FFRHX's dividend yield for the trailing twelve months is around 7.09%, more than AGZD's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund | 3.98% | 4.12% | 3.96% | 6.07% | 8.61% | 1.66% | 2.28% | 2.83% | 2.62% | 2.31% | 1.81% | 1.66% |
FFRHX Fidelity Floating Rate High Income Fund | 7.09% | 7.41% | 6.94% | 8.24% | 3.81% | 2.74% | 3.84% | 5.15% | 4.74% | 4.05% | 4.44% | 3.69% |
Frequently Asked Questions
FFRHX and AGZD have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGZD has higher volatility (1.18%) compared to FFRHX (0.63%). In terms of maximum drawdown, FFRHX dropped -22.20% vs AGZD's -8.46%.
FFRHX currently has the higher Sharpe Ratio (2.51 vs 1.94), 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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