FFRHX vs. FFRIX
FFRHX (Fidelity Floating Rate High Income Fund) and FFRIX (Fidelity Advisor Floating Rate High Income Fund Class I) are both mutual funds - FFRHX is a Bank Loan fund actively managed by Fidelity, while FFRIX is a High Yield Bonds fund managed by Fidelity. Over the past 10 years, FFRHX returned 4.82%/yr vs 4.69%/yr for FFRIX. Their 0.72 correlation means they have sometimes moved together and sometimes differently. FFRHX charges 0.67%/yr vs 0.72%/yr for FFRIX.
Performance
FFRHX vs. FFRIX - Performance Comparison
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Returns By Period
In the year-to-date period, FFRHX achieves a 2.14% return, which is significantly higher than FFRIX's 2.01% return. Both investments have delivered pretty close results over the past 10 years, with FFRHX having a 4.82% annualized return and FFRIX not far behind at 4.69%.
FFRHX
- 1D
- 0.00%
- 1M
- 0.11%
- 6M
- 2.01%
- YTD
- 2.14%
- 1Y
- 4.94%
- 3Y*
- 6.51%
- 5Y*
- 5.49%
- 10Y*
- 4.82%
- ALL TIME*
- 3.90%
FFRIX
- 1D
- 0.00%
- 1M
- 0.11%
- 6M
- 1.88%
- YTD
- 2.01%
- 1Y
- 4.90%
- 3Y*
- 6.20%
- 5Y*
- 5.29%
- 10Y*
- 4.69%
- ALL TIME*
- 4.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FFRHX vs. FFRIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FFRHX Fidelity Floating Rate High Income Fund | 2.14% | 5.47% | 7.10% | 12.63% | -1.55% | 5.01% | 1.69% | 8.63% | 0.10% | 3.91% |
FFRIX Fidelity Advisor Floating Rate High Income Fund Class I | 2.01% | 5.54% | 7.07% | 11.63% | -1.58% | 5.06% | 1.64% | 8.47% | 0.13% | 3.86% |
Correlation
The correlation between FFRHX and FFRIX is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.73 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2000 | 0.72 |
The correlation between FFRHX and FFRIX has been stable across timeframes, ranging from 0.72 to 0.80 - a consistent structural relationship.
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Return for Risk
FFRHX vs. FFRIX — Risk / Return Rank
FFRHX
FFRIX
FFRHX vs. FFRIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Floating Rate High Income Fund (FFRHX) and Fidelity Advisor Floating Rate High Income Fund Class I (FFRIX). 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.
| FFRHX | FFRIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.81 | 1.74 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.51 | 4.39 | +0.12 |
| Martin ratioReturn relative to average drawdown | 14.73 | 14.85 | -0.12 |
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Drawdowns
FFRHX vs. FFRIX - Drawdown Comparison
The maximum FFRHX drawdown since its inception was -22.20%, roughly equal to the maximum FFRIX drawdown of -22.12%. Use the drawdown chart below to compare losses from any high point for FFRHX and FFRIX.
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Drawdown Indicators
| FFRHX | FFRIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.20% | -22.12% | -0.08% |
Max Drawdown (1Y)Largest decline over 1 year | -1.19% | -1.21% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -3.29% | -3.29% | 0.00% |
Max Drawdown (5Y)Largest decline over 5 years | -5.90% | -5.92% | +0.02% |
Max Drawdown (10Y)Largest decline over 10 years | -22.20% | -22.12% | -0.08% |
Current DrawdownCurrent decline from peak | -0.11% | -0.11% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -1.14% | -1.00% | -0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 0.36% | 0.00% |
Volatility
FFRHX vs. FFRIX - Volatility Comparison
The current volatility for Fidelity Floating Rate High Income Fund (FFRHX) is 0.22%, while Fidelity Advisor Floating Rate High Income Fund Class I (FFRIX) has a volatility of 0.27%. This indicates that FFRHX experiences smaller price fluctuations and is considered to be less risky than FFRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FFRHX | FFRIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.22% | 0.27% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.69% | 1.80% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.34% | 2.44% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.89% | 2.93% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.13% | 4.15% | -0.02% |
FFRHX vs. FFRIX - Expense Ratio Comparison
FFRHX has a 0.67% expense ratio, which is lower than FFRIX's 0.72% expense ratio.
Dividends
FFRHX vs. FFRIX - Dividend Comparison
FFRHX's dividend yield for the trailing twelve months is around 6.39%, which matches FFRIX's 6.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFRHX Fidelity Floating Rate High Income Fund | 6.39% | 7.41% | 6.94% | 8.24% | 3.81% | 2.74% | 3.84% | 5.15% | 4.74% | 4.05% | 4.44% | 3.69% |
FFRIX Fidelity Advisor Floating Rate High Income Fund Class I | 6.36% | 7.37% | 6.92% | 7.47% | 3.78% | 2.69% | 3.80% | 5.12% | 4.65% | 4.00% | 4.38% | 3.32% |
Frequently Asked Questions
FFRHX and FFRIX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FFRIX has higher volatility (0.27%) compared to FFRHX (0.22%). In terms of maximum drawdown, FFRHX dropped -22.20% vs FFRIX's -22.12%.
FFRHX currently has the higher Sharpe Ratio (2.30 vs 2.19), 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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