FFRHX vs. JQUA

Last updated Jun 9, 2026

FFRHX (Fidelity Floating Rate High Income Fund) and JQUA (JPMorgan U.S. Quality Factor ETF) are both funds - FFRHX is a Bank Loan fund actively managed by Fidelity, while JQUA is a Large Cap Blend Equities fund tracking the JP Morgan US Quality Factor Index. FFRHX is actively managed, while JQUA is passively managed. Over the past 5 years, FFRHX returned 5.42%/yr vs 13.33%/yr for JQUA. At a 0.31 correlation, their price movements are largely independent. FFRHX charges 0.67%/yr vs 0.12%/yr for JQUA.

Performance

FFRHX vs. JQUA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Floating Rate High Income Fund (FFRHX) and JPMorgan U.S. Quality Factor ETF (JQUA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFRHX achieves a 1.82% return, which is significantly lower than JQUA's 11.39% 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%

JQUA

• 1D: 0.41%
• 1M: 2.90%
• YTD: 11.39%
• 6M: 11.55%
• 1Y: 19.08%
• 3Y*: 19.51%
• 5Y*: 13.33%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FFRHX vs. JQUA - 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%	0.67%
JQUA JPMorgan U.S. Quality Factor ETF	11.39%	11.69%	21.21%	25.13%	-13.45%	28.68%	16.56%	28.47%	-2.98%	5.07%

Correlation

The correlation between FFRHX and JQUA is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (All Time) Calculated using the full available price history since Nov 10, 2017	0.31

FFRHX vs. JQUA - Sectors Allocation Comparison

Sectors	FFRHX	JQUA
Energy	92.8%	3.1%
Consumer Cyclical	4.3%	9.1%
Communication Services	3.0%	5.5%
Basic Materials	-	0.8%
Consumer Defensive	-	5.2%
Financial Services	-	10.0%
Healthcare	-	7.1%
Industrials	-	7.4%
Real Estate	-	2.1%
Technology	-	42.9%
Utilities	-	2.1%

Return for Risk

FFRHX vs. JQUA — Risk / Return Rank

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

FFRHX

FFRHX Risk / Return Rank: 91
FFRHX Sharpe Ratio Rank: 78
FFRHX Sortino Ratio Rank: 98
FFRHX Omega Ratio Rank: 97
FFRHX Calmar Ratio Rank: 93
FFRHX Martin Ratio Rank: 90

JQUA

JQUA Risk / Return Rank: 57
JQUA Sharpe Ratio Rank: 54
JQUA Sortino Ratio Rank: 53
JQUA Omega Ratio Rank: 51
JQUA Calmar Ratio Rank: 60
JQUA Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FFRHX vs. JQUA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Floating Rate High Income Fund (FFRHX) and JPMorgan U.S. Quality Factor ETF (JQUA). 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	JQUA	Difference
Sharpe ratio: Return per unit of total volatility	2.51	1.66	+0.85
Sortino ratio: Return per unit of downside risk	5.98	2.34	+3.65
Omega ratio: Gain probability vs. loss probability	1.89	1.29	+0.60
Calmar ratio: Return relative to maximum drawdown	4.97	2.69	+2.28
Martin ratio: Return relative to average drawdown	17.53	11.21	+6.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFRHX vs. JQUA - Sharpe Ratio Comparison

The current FFRHX Sharpe Ratio is 2.51, which is higher than the JQUA Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of FFRHX and JQUA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FFRHX	JQUA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	1.66	+0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.89	0.86	+1.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.19	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	0.81	+0.34

Drawdowns

FFRHX vs. JQUA - Drawdown Comparison

The maximum FFRHX drawdown since its inception was -22.20%, smaller than the maximum JQUA drawdown of -32.92%. Use the drawdown chart below to compare losses from any high point for FFRHX and JQUA.

Drawdown Indicators

	FFRHX	JQUA	Difference
Max Drawdown Largest peak-to-trough decline	-22.20%	-32.92%	+10.72%
Max Drawdown (1Y) Largest decline over 1 year	-1.19%	-7.13%	+5.94%
Max Drawdown (3Y) Largest decline over 3 years	-3.29%	-16.81%	+13.52%
Max Drawdown (5Y) Largest decline over 5 years	-5.90%	-22.47%	+16.57%
Max Drawdown (10Y) Largest decline over 10 years	-22.20%	—	—
Current Drawdown Current decline from peak	-0.33%	-2.69%	+2.36%
Average Drawdown Average peak-to-trough decline	-1.15%	-4.16%	+3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	1.71%	-1.37%

Volatility

FFRHX vs. JQUA - Volatility Comparison

The current volatility for Fidelity Floating Rate High Income Fund (FFRHX) is 0.63%, while JPMorgan U.S. Quality Factor ETF (JQUA) has a volatility of 4.16%. This indicates that FFRHX experiences smaller price fluctuations and is considered to be less risky than JQUA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFRHX	JQUA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.63%	4.16%	-3.53%
Volatility (6M) Calculated over the trailing 6-month period	1.63%	8.82%	-7.19%
Volatility (1Y) Calculated over the trailing 1-year period	2.36%	11.57%	-9.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.88%	15.66%	-12.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.14%	18.01%	-13.87%

FFRHX vs. JQUA - Expense Ratio Comparison

FFRHX has a 0.67% expense ratio, which is higher than JQUA's 0.12% expense ratio.

Dividends

FFRHX vs. JQUA - Dividend Comparison

FFRHX's dividend yield for the trailing twelve months is around 7.09%, more than JQUA's 1.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
JQUA JPMorgan U.S. Quality Factor ETF	1.10%	1.19%	1.24%	1.21%	1.60%	1.32%	1.44%	1.67%	2.10%	0.40%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FFRHX and JQUA in my portfolio?

FFRHX and JQUA have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFRHX or JQUA?

JQUA has higher volatility (4.16%) compared to FFRHX (0.63%). In terms of maximum drawdown, FFRHX dropped -22.20% vs JQUA's -32.92%.

Which has better risk-adjusted returns?

FFRHX currently has the higher Sharpe Ratio (2.51 vs 1.66), 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.