FFRHX vs. FSZ
FFRHX (Fidelity Floating Rate High Income Fund) and FSZ (First Trust Switzerland AlphaDEX Fund) are both funds - FFRHX is a Bank Loan fund actively managed by Fidelity, while FSZ is a Europe Equities fund tracking the NASDAQ AlphaDEX Switzerland Index. FFRHX is actively managed, while FSZ is passively managed. Over the past 10 years, FFRHX returned 4.90%/yr vs 10.12%/yr for FSZ. At a 0.26 correlation, their price movements are largely independent. FFRHX charges 0.67%/yr vs 0.80%/yr for FSZ.
Performance
FFRHX vs. FSZ - Performance Comparison
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Returns By Period
In the year-to-date period, FFRHX achieves a 1.60% return, which is significantly lower than FSZ's 3.31% return. Over the past 10 years, FFRHX has underperformed FSZ with an annualized return of 4.90%, while FSZ has yielded a comparatively higher 10.12% annualized return.
FFRHX
- 1D
- -0.11%
- 1M
- -0.00%
- YTD
- 1.60%
- 6M
- 1.98%
- 1Y
- 5.89%
- 3Y*
- 7.24%
- 5Y*
- 5.35%
- 10Y*
- 4.90%
FSZ
- 1D
- 0.04%
- 1M
- 2.58%
- YTD
- 3.31%
- 6M
- 5.73%
- 1Y
- 10.99%
- 3Y*
- 12.66%
- 5Y*
- 6.04%
- 10Y*
- 10.12%
FFRHX vs. FSZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FFRHX Fidelity Floating Rate High Income Fund | 1.60% | 5.47% | 7.10% | 12.63% | -1.55% | 5.01% | 1.69% | 8.63% | 0.10% | 3.91% |
FSZ First Trust Switzerland AlphaDEX Fund | 3.31% | 30.10% | -1.85% | 21.30% | -20.12% | 20.18% | 13.83% | 25.88% | -15.22% | 31.30% |
Correlation
The correlation between FFRHX and FSZ is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Feb 16, 2012 | 0.26 |
The correlation between FFRHX and FSZ shifts across timeframes, from 0.13 (1 year) to 0.27 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
FFRHX vs. FSZ — Risk / Return Rank
FFRHX
FSZ
FFRHX vs. FSZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Floating Rate High Income Fund (FFRHX) and First Trust Switzerland AlphaDEX Fund (FSZ). 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 | FSZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.81 | ||
| Sortino ratioReturn per unit of downside risk | +4.80 | ||
| Omega ratioGain probability vs. loss probability | 1.86 | 1.12 | +0.74 |
| Calmar ratioReturn relative to maximum drawdown | 4.87 | 0.90 | +3.97 |
| Martin ratioReturn relative to average drawdown | 17.02 | 2.22 | +14.80 |
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Drawdowns
FFRHX vs. FSZ - Drawdown Comparison
The maximum FFRHX drawdown since its inception was -22.20%, smaller than the maximum FSZ drawdown of -33.97%. Use the drawdown chart below to compare losses from any high point for FFRHX and FSZ.
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Drawdown Indicators
| FFRHX | FSZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.20% | -33.97% | +11.77% |
Max Drawdown (1Y)Largest decline over 1 year | -1.19% | -10.39% | +9.20% |
Max Drawdown (3Y)Largest decline over 3 years | -3.29% | -13.93% | +10.64% |
Max Drawdown (5Y)Largest decline over 5 years | -5.90% | -33.96% | +28.06% |
Max Drawdown (10Y)Largest decline over 10 years | -22.20% | -33.97% | +11.77% |
Current DrawdownCurrent decline from peak | -0.55% | -3.93% | +3.38% |
Average DrawdownAverage peak-to-trough decline | -1.15% | -6.99% | +5.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.34% | 4.22% | -3.88% |
Volatility
FFRHX vs. FSZ - Volatility Comparison
The current volatility for Fidelity Floating Rate High Income Fund (FFRHX) is 0.64%, while First Trust Switzerland AlphaDEX Fund (FSZ) has a volatility of 4.83%. This indicates that FFRHX experiences smaller price fluctuations and is considered to be less risky than FSZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FFRHX | FSZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 4.83% | -4.19% |
Volatility (6M)Calculated over the trailing 6-month period | 1.63% | 11.09% | -9.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.37% | 14.50% | -12.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.88% | 19.38% | -16.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.14% | 18.94% | -14.80% |
FFRHX vs. FSZ - Expense Ratio Comparison
FFRHX has a 0.67% expense ratio, which is lower than FSZ's 0.80% expense ratio.
Dividends
FFRHX vs. FSZ - Dividend Comparison
FFRHX's dividend yield for the trailing twelve months is around 7.10%, more than FSZ's 2.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFRHX Fidelity Floating Rate High Income Fund | 7.10% | 7.41% | 6.94% | 8.24% | 3.81% | 2.74% | 3.84% | 5.15% | 4.74% | 4.05% | 4.44% | 3.69% |
FSZ First Trust Switzerland AlphaDEX Fund | 2.36% | 1.80% | 1.80% | 2.11% | 3.50% | 1.62% | 1.53% | 2.01% | 2.29% | 1.49% | 1.93% | 1.08% |
Frequently Asked Questions
FFRHX and FSZ have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSZ has higher volatility (4.83%) compared to FFRHX (0.64%). In terms of maximum drawdown, FFRHX dropped -22.20% vs FSZ's -33.97%.
FFRHX currently has the higher Sharpe Ratio (2.45 vs 0.65), 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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