FOCIX vs. FSBHX
FOCIX (Fairholme Focused Income Fund) and FSBHX (Fidelity Advisor Short Duration High Income Fund Class A) are both High Yield Bonds funds. Over the past 10 years, FOCIX returned 7.15%/yr vs 4.08%/yr for FSBHX. At a 0.30 correlation, their price movements are largely independent. Both charge a 1.00% expense ratio.
Performance
FOCIX vs. FSBHX - Performance Comparison
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Returns By Period
In the year-to-date period, FOCIX achieves a 9.27% return, which is significantly higher than FSBHX's 2.73% return. Over the past 10 years, FOCIX has outperformed FSBHX with an annualized return of 7.15%, while FSBHX has yielded a comparatively lower 4.08% annualized return.
FOCIX
- 1D
- -0.88%
- 1M
- 1.93%
- 6M
- 8.00%
- YTD
- 9.27%
- 1Y
- 11.19%
- 3Y*
- 11.75%
- 5Y*
- 10.17%
- 10Y*
- 7.15%
FSBHX
- 1D
- 0.00%
- 1M
- -0.21%
- 6M
- 2.39%
- YTD
- 2.73%
- 1Y
- 7.29%
- 3Y*
- 7.62%
- 5Y*
- 4.01%
- 10Y*
- 4.08%
FOCIX vs. FSBHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FOCIX Fairholme Focused Income Fund | 9.27% | 6.17% | 14.67% | 12.58% | 6.00% | 6.73% | 0.99% | 7.44% | -6.88% | -0.54% |
FSBHX Fidelity Advisor Short Duration High Income Fund Class A | 2.73% | 7.45% | 7.45% | 9.99% | -7.57% | 2.55% | 3.72% | 9.04% | -1.49% | 4.69% |
Correlation
The correlation between FOCIX and FSBHX is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2013 | 0.30 |
The correlation between FOCIX and FSBHX shifts across timeframes, from -0.05 (1 year) to 0.31 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FOCIX vs. FSBHX — Risk / Return Rank
FOCIX
FSBHX
FOCIX vs. FSBHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fairholme Focused Income Fund (FOCIX) and Fidelity Advisor Short Duration High Income Fund Class A (FSBHX). 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.
| FOCIX | FSBHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -2.59 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.58 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 4.04 | -1.02 |
| Martin ratioReturn relative to average drawdown | 8.40 | 20.99 | -12.59 |
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Drawdowns
FOCIX vs. FSBHX - Drawdown Comparison
The maximum FOCIX drawdown since its inception was -18.78%, which is greater than FSBHX's maximum drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for FOCIX and FSBHX.
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Drawdown Indicators
| FOCIX | FSBHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.78% | -16.79% | -1.99% |
Max Drawdown (1Y)Largest decline over 1 year | -3.33% | -1.78% | -1.55% |
Max Drawdown (3Y)Largest decline over 3 years | -7.96% | -3.32% | -4.64% |
Max Drawdown (5Y)Largest decline over 5 years | -12.36% | -9.54% | -2.82% |
Max Drawdown (10Y)Largest decline over 10 years | -18.61% | -16.79% | -1.82% |
Current DrawdownCurrent decline from peak | -0.88% | -0.33% | -0.55% |
Average DrawdownAverage peak-to-trough decline | -4.74% | -1.62% | -3.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 0.34% | +0.88% |
Volatility
FOCIX vs. FSBHX - Volatility Comparison
Fairholme Focused Income Fund (FOCIX) has a higher volatility of 3.03% compared to Fidelity Advisor Short Duration High Income Fund Class A (FSBHX) at 0.75%. This indicates that FOCIX's price experiences larger fluctuations and is considered to be riskier than FSBHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FOCIX | FSBHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.03% | 0.75% | +2.28% |
Volatility (6M)Calculated over the trailing 6-month period | 6.12% | 2.28% | +3.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.76% | 2.93% | +4.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.61% | 3.84% | +5.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.11% | 4.20% | +4.91% |
FOCIX vs. FSBHX - Expense Ratio Comparison
Both FOCIX and FSBHX have an expense ratio of 1.00%.
Dividends
FOCIX vs. FSBHX - Dividend Comparison
FOCIX's dividend yield for the trailing twelve months is around 1.15%, less than FSBHX's 7.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FOCIX Fairholme Focused Income Fund | 1.15% | 1.31% | 2.46% | 2.82% | 2.24% | 1.12% | 0.65% | 2.75% | 4.57% | 9.83% | 5.16% | 5.51% |
FSBHX Fidelity Advisor Short Duration High Income Fund Class A | 7.06% | 7.08% | 5.82% | 5.70% | 2.70% | 2.63% | 3.23% | 3.97% | 4.26% | 3.85% | 4.47% | 4.16% |
Frequently Asked Questions
FOCIX and FSBHX have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FOCIX has higher volatility (3.03%) compared to FSBHX (0.75%). In terms of maximum drawdown, FOCIX dropped -18.78% vs FSBHX's -16.79%.
FSBHX currently has the higher Sharpe Ratio (2.46 vs 1.30), 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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