FHMFX vs. SCYB

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Series Corporate Bond Fund (FHMFX) and Schwab High Yield Bond ETF (SCYB).

FHMFX is managed by Fidelity. It was launched on Aug 17, 2018. SCYB is a passively managed fund by Charles Schwab that tracks the performance of the ICE BofA US Cash Pay High Yield Constrained Index. It was launched on Jul 10, 2023.

Performance

FHMFX vs. SCYB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Corporate Bond Fund (FHMFX) and Schwab High Yield Bond ETF (SCYB). The values are adjusted to include any dividend payments, if applicable.

FHMFX vs. SCYB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FHMFX Fidelity Series Corporate Bond Fund	-1.04%	8.18%	3.13%	6.36%
SCYB Schwab High Yield Bond ETF	-0.47%	8.33%	8.15%	6.74%

Returns By Period

In the year-to-date period, FHMFX achieves a -1.04% return, which is significantly lower than SCYB's -0.47% return.

FHMFX

• 1D: 0.54%
• 1M: -2.72%
• YTD: -1.04%
• 6M: -0.17%
• 1Y: 4.34%
• 3Y*: 5.12%
• 5Y*: 0.72%
• 10Y*: —

SCYB

• 1D: 0.89%
• 1M: -1.23%
• YTD: -0.47%
• 6M: 0.62%
• 1Y: 6.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FHMFX vs. SCYB - Expense Ratio Comparison

FHMFX has a 0.00% expense ratio, which is lower than SCYB's 0.03% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

SCYB

Schwab High Yield Bond ETF

FHMFX

Fidelity Series Corporate Bond Fund

Return for Risk

FHMFX vs. SCYB — Risk / Return Rank

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

FHMFX

FHMFX Risk / Return Rank: 56
FHMFX Sharpe Ratio Rank: 56
FHMFX Sortino Ratio Rank: 54
FHMFX Omega Ratio Rank: 41
FHMFX Calmar Ratio Rank: 72
FHMFX Martin Ratio Rank: 58

SCYB

SCYB Risk / Return Rank: 74
SCYB Sharpe Ratio Rank: 70
SCYB Sortino Ratio Rank: 72
SCYB Omega Ratio Rank: 77
SCYB Calmar Ratio Rank: 67
SCYB Martin Ratio Rank: 81

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.

FHMFX vs. SCYB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Corporate Bond Fund (FHMFX) and Schwab High Yield Bond ETF (SCYB). 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.

	FHMFX	SCYB	Difference
Sharpe ratio Return per unit of total volatility	1.04	1.19	-0.15
Sortino ratio Return per unit of downside risk	1.48	1.75	-0.27
Omega ratio Gain probability vs. loss probability	1.19	1.28	-0.09
Calmar ratio Return relative to maximum drawdown	1.68	1.60	+0.08
Martin ratio Return relative to average drawdown	5.59	8.44	-2.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FHMFX vs. SCYB - Sharpe Ratio Comparison

The current FHMFX Sharpe Ratio is 1.04, which is comparable to the SCYB Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of FHMFX and SCYB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FHMFX	SCYB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	1.19	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	1.62	-1.18

Correlation

The correlation between FHMFX and SCYB is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FHMFX vs. SCYB - Dividend Comparison

FHMFX's dividend yield for the trailing twelve months is around 4.40%, less than SCYB's 7.01% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FHMFX Fidelity Series Corporate Bond Fund	4.40%	4.70%	4.52%	4.07%	2.65%	2.42%	3.05%	3.90%	1.49%
SCYB Schwab High Yield Bond ETF	7.01%	6.99%	7.06%	3.36%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FHMFX vs. SCYB - Drawdown Comparison

The maximum FHMFX drawdown since its inception was -22.95%, which is greater than SCYB's maximum drawdown of -4.92%. Use the drawdown chart below to compare losses from any high point for FHMFX and SCYB.

Drawdown Indicators

	FHMFX	SCYB	Difference
Max Drawdown Largest peak-to-trough decline	-22.95%	-4.92%	-18.03%
Max Drawdown (1Y) Largest decline over 1 year	-3.32%	-4.22%	+0.90%
Max Drawdown (5Y) Largest decline over 5 years	-22.95%	—	—
Current Drawdown Current decline from peak	-2.72%	-1.50%	-1.22%
Average Drawdown Average peak-to-trough decline	-6.43%	-0.53%	-5.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	0.80%	+0.19%

Volatility

FHMFX vs. SCYB - Volatility Comparison

The current volatility for Fidelity Series Corporate Bond Fund (FHMFX) is 1.82%, while Schwab High Yield Bond ETF (SCYB) has a volatility of 2.25%. This indicates that FHMFX experiences smaller price fluctuations and is considered to be less risky than SCYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHMFX	SCYB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.82%	2.25%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	2.89%	2.91%	-0.02%
Volatility (1Y) Calculated over the trailing 1-year period	4.83%	5.67%	-0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.69%	5.20%	+1.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.54%	5.20%	+1.34%