FLDR vs. GSY
FLDR (Fidelity Low Duration Bond Factor ETF) and GSY (Invesco Ultra Short Duration ETF) are both exchange-traded funds - FLDR is a Corporate Bonds fund tracking the Fidelity Low Duration Investment Grade Factor Index, while GSY is a Ultrashort Bond fund actively managed by Invesco. FLDR is passively managed, while GSY is actively managed. Over the past 5 years, FLDR returned 3.70%/yr vs 3.68%/yr for GSY. At a 0.35 correlation, their price movements are largely independent. FLDR charges 0.15%/yr vs 0.22%/yr for GSY.
Performance
FLDR vs. GSY - Performance Comparison
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Returns By Period
In the year-to-date period, FLDR achieves a 1.58% return, which is significantly lower than GSY's 1.72% return.
FLDR
- 1D
- 0.06%
- 1M
- 0.43%
- YTD
- 1.58%
- 6M
- 1.88%
- 1Y
- 4.76%
- 3Y*
- 5.36%
- 5Y*
- 3.70%
- 10Y*
- —
GSY
- 1D
- 0.00%
- 1M
- 0.36%
- YTD
- 1.72%
- 6M
- 1.96%
- 1Y
- 4.49%
- 3Y*
- 5.48%
- 5Y*
- 3.68%
- 10Y*
- 2.86%
FLDR vs. GSY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FLDR Fidelity Low Duration Bond Factor ETF | 1.58% | 5.41% | 5.71% | 6.32% | -0.33% | -0.18% | 2.01% | 4.52% | 0.84% |
GSY Invesco Ultra Short Duration ETF | 1.72% | 4.96% | 5.95% | 5.99% | 0.01% | 0.03% | 1.88% | 3.39% | 1.15% |
Correlation
The correlation between FLDR and GSY is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2018 | 0.35 |
The correlation between FLDR and GSY shifts across timeframes, from 0.35 (all time) to 0.47 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FLDR vs. GSY — Risk / Return Rank
FLDR
GSY
FLDR vs. GSY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Low Duration Bond Factor ETF (FLDR) and Invesco Ultra Short Duration ETF (GSY). 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.
| FLDR | GSY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.30 | ||
| Sortino ratioReturn per unit of downside risk | -17.36 | ||
| Omega ratioGain probability vs. loss probability | 2.73 | 6.54 | -3.81 |
| Calmar ratioReturn relative to maximum drawdown | 10.19 | 75.72 | -65.52 |
| Martin ratioReturn relative to average drawdown | 69.63 | 373.96 | -304.33 |
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Drawdowns
FLDR vs. GSY - Drawdown Comparison
The maximum FLDR drawdown since its inception was -12.23%, roughly equal to the maximum GSY drawdown of -12.14%. Use the drawdown chart below to compare losses from any high point for FLDR and GSY.
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Drawdown Indicators
| FLDR | GSY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.23% | -12.14% | -0.09% |
Max Drawdown (1Y)Largest decline over 1 year | -0.47% | -0.06% | -0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -0.76% | -0.18% | -0.58% |
Max Drawdown (5Y)Largest decline over 5 years | -2.33% | -1.48% | -0.85% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.25% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.35% | -2.38% | +2.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 0.01% | +0.06% |
Volatility
FLDR vs. GSY - Volatility Comparison
Fidelity Low Duration Bond Factor ETF (FLDR) has a higher volatility of 0.20% compared to Invesco Ultra Short Duration ETF (GSY) at 0.15%. This indicates that FLDR's price experiences larger fluctuations and is considered to be riskier than GSY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLDR | GSY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.20% | 0.15% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 0.59% | 0.31% | +0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.81% | 0.40% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.21% | 0.58% | +0.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.25% | 1.22% | +4.03% |
FLDR vs. GSY - Expense Ratio Comparison
FLDR has a 0.15% expense ratio, which is lower than GSY's 0.22% 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%.
Dividends
FLDR vs. GSY - Dividend Comparison
FLDR's dividend yield for the trailing twelve months is around 4.42%, more than GSY's 4.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLDR Fidelity Low Duration Bond Factor ETF | 4.42% | 4.66% | 5.50% | 5.28% | 2.09% | 0.51% | 1.22% | 2.69% | 1.38% | 0.00% | 0.00% | 0.00% |
GSY Invesco Ultra Short Duration ETF | 4.34% | 4.56% | 5.31% | 4.95% | 1.70% | 0.58% | 1.45% | 2.71% | 2.30% | 1.80% | 1.21% | 1.17% |
Frequently Asked Questions
FLDR and GSY have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLDR has higher volatility (0.20%) compared to GSY (0.15%). In terms of maximum drawdown, FLDR dropped -12.23% vs GSY's -12.14%.
On 5-year performance, FLDR leads with 3.70% vs 3.68% for GSY. On fees, FLDR is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLDR has performed better with a 3.70% return vs 3.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLDR is cheaper with a 0.15% expense ratio, compared with 0.22% for GSY.
FLDR has the higher dividend yield at 4.42%, compared with 4.34% for GSY.
FLDR is categorized as Corporate Bonds, while GSY is Ultrashort Bond. They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.15% for FLDR and 0.22% for GSY.
GSY currently has the higher Sharpe Ratio (11.20 vs 5.90), 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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