FPCIX vs. SPHY
Compare and contrast key facts about Strategic Advisers Core Income Fund (FPCIX) and SPDR Portfolio High Yield Bond ETF (SPHY).
FPCIX is managed by Fidelity. SPHY is a passively managed fund by State Street that tracks the performance of the ICE BofAML US High Yield Index. It was launched on Jun 18, 2012.
Performance
FPCIX vs. SPHY - Performance Comparison
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FPCIX vs. SPHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FPCIX Strategic Advisers Core Income Fund | -1.19% | 7.42% | 1.71% | 5.98% | -14.76% | -0.81% | 9.39% | 9.20% | -0.33% | 4.73% |
SPHY SPDR Portfolio High Yield Bond ETF | -0.32% | 8.59% | 8.54% | 12.81% | -10.57% | 5.61% | 6.65% | 13.16% | -3.35% | 7.35% |
Returns By Period
In the year-to-date period, FPCIX achieves a -1.19% return, which is significantly lower than SPHY's -0.32% return. Over the past 10 years, FPCIX has underperformed SPHY with an annualized return of 2.06%, while SPHY has yielded a comparatively higher 5.29% annualized return.
FPCIX
- 1D
- 0.44%
- 1M
- -2.35%
- YTD
- -1.19%
- 6M
- -0.29%
- 1Y
- 3.09%
- 3Y*
- 3.48%
- 5Y*
- 0.01%
- 10Y*
- 2.06%
SPHY
- 1D
- 1.00%
- 1M
- -1.02%
- YTD
- -0.32%
- 6M
- 0.94%
- 1Y
- 7.11%
- 3Y*
- 8.40%
- 5Y*
- 4.31%
- 10Y*
- 5.29%
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FPCIX vs. SPHY - Expense Ratio Comparison
FPCIX has a 0.31% expense ratio, which is higher than SPHY's 0.10% expense ratio.
Return for Risk
FPCIX vs. SPHY — Risk / Return Rank
FPCIX
SPHY
FPCIX vs. SPHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategic Advisers Core Income Fund (FPCIX) and SPDR Portfolio High Yield Bond ETF (SPHY). 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.
| FPCIX | SPHY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.02 | 1.30 | -0.28 |
Sortino ratioReturn per unit of downside risk | 1.46 | 1.92 | -0.46 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.31 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | 1.65 | 1.76 | -0.10 |
Martin ratioReturn relative to average drawdown | 5.11 | 9.23 | -4.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FPCIX | SPHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | 1.30 | -0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.00 | 0.61 | -0.60 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.67 | -0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 0.62 | +0.11 |
Correlation
The correlation between FPCIX and SPHY is 0.24, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FPCIX vs. SPHY - Dividend Comparison
FPCIX's dividend yield for the trailing twelve months is around 2.84%, less than SPHY's 7.39% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPCIX Strategic Advisers Core Income Fund | 2.84% | 3.83% | 4.17% | 3.55% | 2.69% | 3.01% | 4.99% | 3.75% | 2.94% | 2.70% | 4.13% | 2.45% |
SPHY SPDR Portfolio High Yield Bond ETF | 7.39% | 7.38% | 7.80% | 7.30% | 6.47% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.27% | 4.29% |
Drawdowns
FPCIX vs. SPHY - Drawdown Comparison
The maximum FPCIX drawdown since its inception was -19.60%, smaller than the maximum SPHY drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for FPCIX and SPHY.
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Drawdown Indicators
| FPCIX | SPHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.60% | -21.97% | +2.37% |
Max Drawdown (1Y)Largest decline over 1 year | -3.14% | -4.07% | +0.93% |
Max Drawdown (5Y)Largest decline over 5 years | -19.60% | -15.29% | -4.31% |
Max Drawdown (10Y)Largest decline over 10 years | -19.60% | -21.97% | +2.37% |
Current DrawdownCurrent decline from peak | -3.53% | -1.31% | -2.22% |
Average DrawdownAverage peak-to-trough decline | -3.24% | -2.32% | -0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 0.78% | +0.24% |
Volatility
FPCIX vs. SPHY - Volatility Comparison
The current volatility for Strategic Advisers Core Income Fund (FPCIX) is 1.44%, while SPDR Portfolio High Yield Bond ETF (SPHY) has a volatility of 2.23%. This indicates that FPCIX experiences smaller price fluctuations and is considered to be less risky than SPHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPCIX | SPHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 2.23% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 2.87% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.93% | 5.49% | -0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.18% | 7.15% | -0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.03% | 7.97% | -2.94% |