FHMFX vs. PRPIX
FHMFX (Fidelity Series Corporate Bond Fund) and PRPIX (T. Rowe Price Corporate Income Fund) are both Corporate Bonds funds. Over the past 5 years, FHMFX returned -0.24%/yr vs 0.97%/yr for PRPIX. Their correlation of 0.94 means they have usually moved in the same direction. FHMFX charges 0.00%/yr vs 0.56%/yr for PRPIX.
Performance
FHMFX vs. PRPIX - Performance Comparison
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Returns By Period
In the year-to-date period, FHMFX achieves a -1.00% return, which is significantly higher than PRPIX's -1.21% return.
FHMFX
- 1D
- -0.22%
- 1M
- -1.93%
- 6M
- -1.30%
- YTD
- -1.00%
- 1Y
- 1.62%
- 3Y*
- 5.20%
- 5Y*
- -0.24%
- 10Y*
- —
- ALL TIME*
- 2.76%
PRPIX
- 1D
- -0.13%
- 1M
- -2.00%
- 6M
- -1.24%
- YTD
- -1.21%
- 1Y
- 1.49%
- 3Y*
- 7.12%
- 5Y*
- 0.97%
- 10Y*
- 2.85%
- ALL TIME*
- 4.92%
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 |
FHMFX vs. PRPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FHMFX Fidelity Series Corporate Bond Fund | -1.00% | 8.18% | 3.13% | 9.11% | -17.03% | -1.41% | 10.15% | 14.45% | -0.24% |
PRPIX T. Rowe Price Corporate Income Fund | -1.21% | 9.21% | 6.49% | 12.72% | -17.71% | -0.76% | 7.87% | 15.77% | -0.48% |
Correlation
The correlation between FHMFX and PRPIX is 0.88, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.88 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2018 | 0.94 |
The correlation between FHMFX and PRPIX has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.
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Return for Risk
FHMFX vs. PRPIX — Risk / Return Rank
FHMFX
PRPIX
FHMFX vs. PRPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Corporate Bond Fund (FHMFX) and T. Rowe Price Corporate Income Fund (PRPIX). 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.
| FHMFX | PRPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.09 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.70 | 0.65 | +0.06 |
| Martin ratioReturn relative to average drawdown | 1.99 | 2.04 | -0.05 |
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Drawdowns
FHMFX vs. PRPIX - Drawdown Comparison
The maximum FHMFX drawdown since its inception was -22.95%, smaller than the maximum PRPIX drawdown of -24.24%. Use the drawdown chart below to compare losses from any high point for FHMFX and PRPIX.
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Drawdown Indicators
| FHMFX | PRPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.95% | -24.24% | +1.29% |
Max Drawdown (1Y)Largest decline over 1 year | -3.24% | -3.29% | +0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -5.56% | -4.93% | -0.63% |
Max Drawdown (5Y)Largest decline over 5 years | -22.91% | -24.23% | +1.32% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.24% | — |
Current DrawdownCurrent decline from peak | -2.68% | -2.60% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -6.21% | -2.86% | -3.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 1.04% | +0.10% |
Volatility
FHMFX vs. PRPIX - Volatility Comparison
The current volatility for Fidelity Series Corporate Bond Fund (FHMFX) is 1.09%, while T. Rowe Price Corporate Income Fund (PRPIX) has a volatility of 1.15%. This indicates that FHMFX experiences smaller price fluctuations and is considered to be less risky than PRPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHMFX | PRPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.15% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.36% | 3.30% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.24% | 4.24% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.69% | 6.65% | +0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.47% | 6.05% | +0.42% |
FHMFX vs. PRPIX - Expense Ratio Comparison
FHMFX has a 0.00% expense ratio, which is lower than PRPIX's 0.56% expense ratio.
Dividends
FHMFX vs. PRPIX - Dividend Comparison
FHMFX's dividend yield for the trailing twelve months is around 4.54%, less than PRPIX's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHMFX Fidelity Series Corporate Bond Fund | 4.54% | 4.70% | 4.52% | 4.07% | 2.65% | 2.42% | 3.05% | 3.90% | 1.49% | 0.00% | 0.00% | 0.00% |
PRPIX T. Rowe Price Corporate Income Fund | 4.75% | 5.87% | 8.35% | 7.54% | 2.42% | 5.61% | 3.82% | 5.47% | 3.47% | 3.95% | 3.20% | 4.23% |
Frequently Asked Questions
FHMFX and PRPIX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRPIX has higher volatility (1.15%) compared to FHMFX (1.09%). In terms of maximum drawdown, FHMFX dropped -22.95% vs PRPIX's -24.24%.
FHMFX currently has the higher Sharpe Ratio (0.54 vs 0.50), 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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