FHIFX vs. CCLFX
Compare and contrast key facts about Fidelity Focused High Income Fund (FHIFX) and Cliffwater Corporate Lending Fund (CCLFX).
FHIFX is managed by Fidelity. It was launched on Sep 8, 2004. CCLFX is managed by Cliffwater. It was launched on Mar 6, 2019.
Performance
FHIFX vs. CCLFX - Performance Comparison
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FHIFX vs. CCLFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FHIFX Fidelity Focused High Income Fund | -1.22% | 8.91% | 5.23% | 10.28% | -11.88% | 2.86% | 4.51% | 6.23% |
CCLFX Cliffwater Corporate Lending Fund | 0.96% | 8.93% | 12.62% | 12.66% | 2.32% | 10.38% | 8.73% | 2.12% |
Returns By Period
In the year-to-date period, FHIFX achieves a -1.22% return, which is significantly lower than CCLFX's 0.96% return.
FHIFX
- 1D
- 0.12%
- 1M
- -2.16%
- YTD
- -1.22%
- 6M
- 0.57%
- 1Y
- 6.19%
- 3Y*
- 6.51%
- 5Y*
- 2.74%
- 10Y*
- 4.41%
CCLFX
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 0.96%
- 6M
- 3.09%
- 1Y
- 7.64%
- 3Y*
- 10.90%
- 5Y*
- 8.92%
- 10Y*
- —
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FHIFX vs. CCLFX - Expense Ratio Comparison
FHIFX has a 0.75% expense ratio, which is lower than CCLFX's 3.42% expense ratio.
Return for Risk
FHIFX vs. CCLFX — Risk / Return Rank
FHIFX
CCLFX
FHIFX vs. CCLFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Focused High Income Fund (FHIFX) and Cliffwater Corporate Lending Fund (CCLFX). 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.
| FHIFX | CCLFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.01 | 8.00 | -5.99 |
Sortino ratioReturn per unit of downside risk | 2.85 | 16.02 | -13.16 |
Omega ratioGain probability vs. loss probability | 1.46 | 5.88 | -4.43 |
Calmar ratioReturn relative to maximum drawdown | 2.25 | 16.71 | -14.46 |
Martin ratioReturn relative to average drawdown | 9.69 | 101.68 | -91.99 |
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
| FHIFX | CCLFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.01 | 8.00 | -5.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | 5.17 | -4.60 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.86 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.02 | 4.54 | -3.51 |
Correlation
The correlation between FHIFX and CCLFX is 0.12, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FHIFX vs. CCLFX - Dividend Comparison
FHIFX's dividend yield for the trailing twelve months is around 5.33%, less than CCLFX's 10.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHIFX Fidelity Focused High Income Fund | 5.33% | 5.54% | 4.09% | 4.36% | 3.43% | 3.37% | 3.81% | 4.27% | 5.00% | 4.19% | 4.84% | 4.44% |
CCLFX Cliffwater Corporate Lending Fund | 10.37% | 10.47% | 11.27% | 10.96% | 3.96% | 7.03% | 6.90% | 0.61% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FHIFX vs. CCLFX - Drawdown Comparison
The maximum FHIFX drawdown since its inception was -27.06%, which is greater than CCLFX's maximum drawdown of -3.91%. Use the drawdown chart below to compare losses from any high point for FHIFX and CCLFX.
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Drawdown Indicators
| FHIFX | CCLFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.06% | -3.91% | -23.15% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -0.46% | -2.37% |
Max Drawdown (5Y)Largest decline over 5 years | -15.60% | -2.25% | -13.35% |
Max Drawdown (10Y)Largest decline over 10 years | -19.11% | — | — |
Current DrawdownCurrent decline from peak | -2.16% | -0.09% | -2.07% |
Average DrawdownAverage peak-to-trough decline | -2.40% | -0.16% | -2.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.08% | +0.58% |
Volatility
FHIFX vs. CCLFX - Volatility Comparison
Fidelity Focused High Income Fund (FHIFX) has a higher volatility of 1.17% compared to Cliffwater Corporate Lending Fund (CCLFX) at 0.32%. This indicates that FHIFX's price experiences larger fluctuations and is considered to be riskier than CCLFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHIFX | CCLFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 0.32% | +0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 2.08% | 0.65% | +1.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.32% | 0.97% | +2.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.80% | 1.74% | +3.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.13% | 1.89% | +3.24% |