FHIFX vs. FAGIX
FHIFX (Fidelity Focused High Income Fund) and FAGIX (Fidelity Capital & Income Fund) are both High Yield Bonds funds from Fidelity. Over the past 10 years, FHIFX returned 4.10%/yr vs 7.47%/yr for FAGIX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. FHIFX charges 0.75%/yr vs 0.67%/yr for FAGIX.
Performance
FHIFX vs. FAGIX - Performance Comparison
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Returns By Period
In the year-to-date period, FHIFX achieves a 1.19% return, which is significantly lower than FAGIX's 5.47% return. Over the past 10 years, FHIFX has underperformed FAGIX with an annualized return of 4.10%, while FAGIX has yielded a comparatively higher 7.47% annualized return.
FHIFX
- 1D
- 0.12%
- 1M
- -0.85%
- 6M
- 0.61%
- YTD
- 1.19%
- 1Y
- 5.35%
- 3Y*
- 6.80%
- 5Y*
- 2.61%
- 10Y*
- 4.10%
- ALL TIME*
- 4.89%
FAGIX
- 1D
- 1.00%
- 1M
- -1.59%
- 6M
- 3.79%
- YTD
- 5.47%
- 1Y
- 11.22%
- 3Y*
- 11.21%
- 5Y*
- 6.17%
- 10Y*
- 7.47%
- ALL TIME*
- 6.07%
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 |
FHIFX vs. FAGIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FHIFX Fidelity Focused High Income Fund | 1.19% | 8.91% | 5.23% | 10.28% | -11.88% | 2.86% | 4.51% | 15.49% | -2.90% | 7.00% |
FAGIX Fidelity Capital & Income Fund | 5.47% | 12.38% | 10.69% | 13.02% | -11.50% | 11.13% | 9.95% | 18.96% | -7.17% | 11.66% |
Correlation
The correlation between FHIFX and FAGIX is 0.67, 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. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.77 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2004 | 0.73 |
The correlation between FHIFX and FAGIX has been stable across timeframes, ranging from 0.67 to 0.77 - a consistent structural relationship.
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Return for Risk
FHIFX vs. FAGIX — Risk / Return Rank
FHIFX
FAGIX
FHIFX vs. FAGIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Focused High Income Fund (FHIFX) and Fidelity Capital & Income Fund (FAGIX). 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.
| FHIFX | FAGIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.28 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 2.72 | -0.20 |
| Martin ratioReturn relative to average drawdown | 12.26 | 10.26 | +2.00 |
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Drawdowns
FHIFX vs. FAGIX - Drawdown Comparison
The maximum FHIFX drawdown since its inception was -27.06%, smaller than the maximum FAGIX drawdown of -37.97%. Use the drawdown chart below to compare losses from any high point for FHIFX and FAGIX.
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Drawdown Indicators
| FHIFX | FAGIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.06% | -37.97% | +10.91% |
Max Drawdown (1Y)Largest decline over 1 year | -2.28% | -4.02% | +1.74% |
Max Drawdown (3Y)Largest decline over 3 years | -3.53% | -7.26% | +3.73% |
Max Drawdown (5Y)Largest decline over 5 years | -15.60% | -15.42% | -0.18% |
Max Drawdown (10Y)Largest decline over 10 years | -19.11% | -28.45% | +9.34% |
Current DrawdownCurrent decline from peak | -0.85% | -3.07% | +2.22% |
Average DrawdownAverage peak-to-trough decline | -2.37% | -6.97% | +4.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 1.06% | -0.59% |
Volatility
FHIFX vs. FAGIX - Volatility Comparison
The current volatility for Fidelity Focused High Income Fund (FHIFX) is 0.64%, while Fidelity Capital & Income Fund (FAGIX) has a volatility of 2.24%. This indicates that FHIFX experiences smaller price fluctuations and is considered to be less risky than FAGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHIFX | FAGIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 2.24% | -1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 2.49% | 5.94% | -3.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.08% | 7.04% | -3.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.85% | 6.79% | -1.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.12% | 7.84% | -2.72% |
FHIFX vs. FAGIX - Expense Ratio Comparison
FHIFX has a 0.75% expense ratio, which is higher than FAGIX's 0.67% expense ratio.
Dividends
FHIFX vs. FAGIX - Dividend Comparison
FHIFX's dividend yield for the trailing twelve months is around 5.38%, more than FAGIX's 5.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAGIX Fidelity Capital & Income Fund | 5.05% | 4.74% | 5.02% | 5.28% | 10.25% | 6.08% | 4.59% | 5.00% | 5.67% | 5.05% | 4.57% | 4.51% |
FHIFX Fidelity Focused High Income Fund | 5.38% | 5.54% | 4.09% | 4.36% | 3.43% | 3.37% | 3.81% | 4.27% | 5.00% | 4.19% | 4.84% | 4.44% |
Frequently Asked Questions
FHIFX and FAGIX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAGIX has higher volatility (2.24%) compared to FHIFX (0.64%). In terms of maximum drawdown, FHIFX dropped -27.06% vs FAGIX's -37.97%.
FHIFX currently has the higher Sharpe Ratio (1.86 vs 1.55), 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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