FHAIX vs. FRIAX
FHAIX (Franklin High Income Fund) and FRIAX (Franklin Income Fund Advisor Class) are both mutual funds - FHAIX is a High Yield Bonds fund managed by Franklin Templeton, while FRIAX is a Diversified Portfolio fund managed by Franklin Templeton. Over the past 10 years, FHAIX returned 5.93%/yr vs 7.66%/yr for FRIAX. At a 0.40 correlation, their price movements are largely independent. FHAIX charges 0.77%/yr vs 0.46%/yr for FRIAX.
Performance
FHAIX vs. FRIAX - Performance Comparison
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Returns By Period
In the year-to-date period, FHAIX achieves a 0.95% return, which is significantly lower than FRIAX's 4.46% return. Over the past 10 years, FHAIX has underperformed FRIAX with an annualized return of 5.93%, while FRIAX has yielded a comparatively higher 7.66% annualized return.
FHAIX
- 1D
- 0.00%
- 1M
- 0.52%
- YTD
- 0.95%
- 6M
- 1.46%
- 1Y
- 5.91%
- 3Y*
- 8.13%
- 5Y*
- 4.17%
- 10Y*
- 5.93%
FRIAX
- 1D
- -0.40%
- 1M
- -0.73%
- YTD
- 4.46%
- 6M
- 4.46%
- 1Y
- 12.75%
- 3Y*
- 10.07%
- 5Y*
- 6.40%
- 10Y*
- 7.66%
FHAIX vs. FRIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FHAIX Franklin High Income Fund | 0.95% | 7.28% | 7.83% | 13.84% | -9.29% | 5.77% | 6.76% | 14.29% | -3.19% | 6.73% |
FRIAX Franklin Income Fund Advisor Class | 4.46% | 12.02% | 7.29% | 8.84% | -5.36% | 17.51% | 3.72% | 16.02% | -5.23% | 8.63% |
Correlation
The correlation between FHAIX and FRIAX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 1996 | 0.40 |
The correlation between FHAIX and FRIAX shifts across timeframes, from 0.32 (1 year) to 0.45 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FHAIX vs. FRIAX — Risk / Return Rank
FHAIX
FRIAX
FHAIX vs. FRIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin High Income Fund (FHAIX) and Franklin Income Fund Advisor Class (FRIAX). 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.
| FHAIX | FRIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.92 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.55 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 4.18 | -2.08 |
| Martin ratioReturn relative to average drawdown | 10.22 | 15.79 | -5.57 |
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Drawdowns
FHAIX vs. FRIAX - Drawdown Comparison
The maximum FHAIX drawdown since its inception was -31.52%, smaller than the maximum FRIAX drawdown of -43.23%. Use the drawdown chart below to compare losses from any high point for FHAIX and FRIAX.
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Drawdown Indicators
| FHAIX | FRIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.52% | -43.23% | +11.71% |
Max Drawdown (1Y)Largest decline over 1 year | -2.84% | -3.06% | +0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -4.55% | -7.35% | +2.80% |
Max Drawdown (5Y)Largest decline over 5 years | -14.32% | -13.63% | -0.69% |
Max Drawdown (10Y)Largest decline over 10 years | -19.49% | -24.10% | +4.61% |
Current DrawdownCurrent decline from peak | -0.56% | -1.18% | +0.62% |
Average DrawdownAverage peak-to-trough decline | -3.07% | -3.92% | +0.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.81% | -0.23% |
Volatility
FHAIX vs. FRIAX - Volatility Comparison
The current volatility for Franklin High Income Fund (FHAIX) is 1.27%, while Franklin Income Fund Advisor Class (FRIAX) has a volatility of 1.39%. This indicates that FHAIX experiences smaller price fluctuations and is considered to be less risky than FRIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHAIX | FRIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 1.39% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 3.54% | 3.82% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.61% | 5.11% | -0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.87% | 7.94% | -2.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.23% | 9.28% | -3.05% |
FHAIX vs. FRIAX - Expense Ratio Comparison
FHAIX has a 0.77% expense ratio, which is higher than FRIAX's 0.46% expense ratio.
Dividends
FHAIX vs. FRIAX - Dividend Comparison
FHAIX's dividend yield for the trailing twelve months is around 5.79%, which matches FRIAX's 5.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHAIX Franklin High Income Fund | 5.79% | 4.71% | 6.37% | 6.09% | 5.97% | 5.63% | 5.19% | 5.45% | 5.99% | 5.49% | 5.84% | 7.19% |
FRIAX Franklin Income Fund Advisor Class | 5.75% | 5.75% | 5.74% | 5.67% | 5.24% | 6.70% | 5.37% | 5.25% | 5.80% | 5.20% | 4.92% | 5.93% |
Frequently Asked Questions
FHAIX and FRIAX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRIAX has higher volatility (1.39%) compared to FHAIX (1.27%). In terms of maximum drawdown, FHAIX dropped -31.52% vs FRIAX's -43.23%.
FRIAX currently has the higher Sharpe Ratio (2.51 vs 1.29), 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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