FIXD vs. HLIPX

Last updated Jun 23, 2026

FIXD (First Trust Smith Opportunistic Fixed Income ETF) and HLIPX (JPMorgan Core Plus Bond Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, FIXD returned -0.39%/yr vs 0.76%/yr for HLIPX. Their correlation of 0.90 suggests significant overlap in exposure. FIXD charges 0.65%/yr vs 0.46%/yr for HLIPX.

Performance

FIXD vs. HLIPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Smith Opportunistic Fixed Income ETF (FIXD) and JPMorgan Core Plus Bond Fund (HLIPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIXD achieves a 0.27% return, which is significantly lower than HLIPX's 0.72% return.

FIXD

• 1D: -0.26%
• 1M: 0.58%
• YTD: 0.27%
• 6M: 0.36%
• 1Y: 4.71%
• 3Y*: 3.94%
• 5Y*: -0.39%
• 10Y*: —

HLIPX

• 1D: 0.28%
• 1M: 0.83%
• YTD: 0.72%
• 6M: 0.73%
• 1Y: 5.37%
• 3Y*: 4.99%
• 5Y*: 0.76%
• 10Y*: 2.32%

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

FIXD vs. HLIPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIXD First Trust Smith Opportunistic Fixed Income ETF	0.27%	7.95%	0.75%	5.72%	-15.00%	-1.07%	8.99%	10.56%	-0.00%	3.40%
HLIPX JPMorgan Core Plus Bond Fund	0.72%	7.98%	2.64%	6.38%	-12.69%	-0.30%	7.93%	8.73%	0.01%	3.68%

Correlation

The correlation between FIXD and HLIPX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Feb 15, 2017	0.90

The correlation between FIXD and HLIPX has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.

Return for Risk

FIXD vs. HLIPX — Risk / Return Rank

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

FIXD

FIXD Risk / Return Rank: 31
FIXD Sharpe Ratio Rank: 33
FIXD Sortino Ratio Rank: 32
FIXD Omega Ratio Rank: 29
FIXD Calmar Ratio Rank: 30
FIXD Martin Ratio Rank: 30

HLIPX

HLIPX Risk / Return Rank: 27
HLIPX Sharpe Ratio Rank: 29
HLIPX Sortino Ratio Rank: 31
HLIPX Omega Ratio Rank: 28
HLIPX Calmar Ratio Rank: 27
HLIPX Martin Ratio Rank: 23

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.

FIXD vs. HLIPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Smith Opportunistic Fixed Income ETF (FIXD) and JPMorgan Core Plus Bond Fund (HLIPX). 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.

	FIXD	HLIPX	Difference
Sharpe ratio: Return per unit of total volatility	1.14	1.44	-0.30
Sortino ratio: Return per unit of downside risk	1.68	2.14	-0.46
Omega ratio: Gain probability vs. loss probability	1.20	1.26	-0.06
Calmar ratio: Return relative to maximum drawdown	1.47	1.82	-0.34
Martin ratio: Return relative to average drawdown	4.21	5.18	-0.97

FIXD vs. HLIPX - Sharpe Ratio Comparison

The current FIXD Sharpe Ratio is 1.14, which is comparable to the HLIPX Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of FIXD and HLIPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FIXD vs. HLIPX - Drawdown Comparison

The maximum FIXD drawdown since its inception was -20.44%, which is greater than HLIPX's maximum drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for FIXD and HLIPX.

Drawdown Indicators

	FIXD	HLIPX	Difference
Max Drawdown Largest peak-to-trough decline	-20.44%	-16.91%	-3.53%
Max Drawdown (1Y) Largest decline over 1 year	-3.21%	-3.05%	-0.16%
Max Drawdown (3Y) Largest decline over 3 years	-6.97%	-6.08%	-0.89%
Max Drawdown (5Y) Largest decline over 5 years	-20.44%	-16.91%	-3.53%
Max Drawdown (10Y) Largest decline over 10 years	—	-16.91%	—
Current Drawdown Current decline from peak	-3.44%	-1.42%	-2.02%
Average Drawdown Average peak-to-trough decline	-5.49%	-1.94%	-3.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.12%	1.07%	+0.05%

Volatility

FIXD vs. HLIPX - Volatility Comparison

First Trust Smith Opportunistic Fixed Income ETF (FIXD) and JPMorgan Core Plus Bond Fund (HLIPX) have volatilities of 1.20% and 1.18%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIXD	HLIPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.20%	1.18%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	3.21%	2.88%	+0.33%
Volatility (1Y) Calculated over the trailing 1-year period	4.15%	3.83%	+0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.59%	5.69%	+0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.83%	4.64%	+1.19%

FIXD vs. HLIPX - Expense Ratio Comparison

FIXD has a 0.65% expense ratio, which is higher than HLIPX's 0.46% expense ratio.

Dividends

FIXD vs. HLIPX - Dividend Comparison

FIXD's dividend yield for the trailing twelve months is around 4.69%, more than HLIPX's 4.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIXD First Trust Smith Opportunistic Fixed Income ETF	4.69%	4.50%	4.56%	3.93%	3.07%	1.74%	3.14%	5.10%	2.81%	1.95%	0.00%	0.00%
HLIPX JPMorgan Core Plus Bond Fund	4.57%	4.86%	4.88%	4.02%	3.36%	3.25%	4.36%	3.23%	3.08%	2.83%	2.77%	3.25%

Frequently Asked Questions

Can I hold both FIXD and HLIPX in my portfolio?

With a correlation of 0.95, FIXD and HLIPX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FIXD or HLIPX?

FIXD has higher volatility (1.20%) compared to HLIPX (1.18%). In terms of maximum drawdown, FIXD dropped -20.44% vs HLIPX's -16.91%.

Which has better risk-adjusted returns?

HLIPX currently has the higher Sharpe Ratio (1.44 vs 1.14), 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.