FRFHF vs. GSY

Last updated Jun 6, 2026

FRFHF (Fairfax Financial Holdings Ltd) is a stock, while GSY (Invesco Ultra Short Duration ETF) is Ultrashort Bond fund actively managed by Invesco. Over the past 10 years, FRFHF returned 14.02%/yr vs 2.86%/yr for GSY. At a 0.03 correlation, their price movements are largely independent.

Performance

FRFHF vs. GSY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fairfax Financial Holdings Ltd (FRFHF) and Invesco Ultra Short Duration ETF (GSY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRFHF achieves a -16.39% return, which is significantly lower than GSY's 1.57% return. Over the past 10 years, FRFHF has outperformed GSY with an annualized return of 14.02%, while GSY has yielded a comparatively lower 2.86% annualized return.

FRFHF

• 1D: 0.44%
• 1M: -2.66%
• YTD: -16.39%
• 6M: -4.99%
• 1Y: -4.56%
• 3Y*: 30.42%
• 5Y*: 29.18%
• 10Y*: 14.02%

GSY

• 1D: -0.06%
• 1M: 0.30%
• YTD: 1.57%
• 6M: 1.92%
• 1Y: 4.47%
• 3Y*: 5.43%
• 5Y*: 3.64%
• 10Y*: 2.86%

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

FRFHF vs. GSY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRFHF Fairfax Financial Holdings Ltd	-16.39%	38.79%	53.39%	57.56%	23.17%	48.23%	-25.75%	8.88%	-15.44%	11.34%
GSY Invesco Ultra Short Duration ETF	1.57%	4.96%	5.95%	5.99%	0.01%	0.03%	1.88%	3.39%	2.18%	1.86%

Correlation

The correlation between FRFHF and GSY is 0.06, 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	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.05
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Feb 13, 2008	0.03

Return for Risk

FRFHF vs. GSY — Risk / Return Rank

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

FRFHF

FRFHF Risk / Return Rank: 31
FRFHF Sharpe Ratio Rank: 32
FRFHF Sortino Ratio Rank: 27
FRFHF Omega Ratio Rank: 28
FRFHF Calmar Ratio Rank: 34
FRFHF Martin Ratio Rank: 32

GSY

GSY Risk / Return Rank: 100
GSY Sharpe Ratio Rank: 99
GSY Sortino Ratio Rank: 100
GSY Omega Ratio Rank: 100
GSY Calmar Ratio Rank: 100
GSY Martin Ratio Rank: 100

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.

FRFHF vs. GSY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fairfax Financial Holdings Ltd (FRFHF) 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.

	FRFHF	GSY	Difference
Sharpe ratio: Return per unit of total volatility	-0.21	11.16	-11.37
Sortino ratio: Return per unit of downside risk	-0.14	27.10	-27.24
Omega ratio: Gain probability vs. loss probability	0.98	6.49	-5.50
Calmar ratio: Return relative to maximum drawdown	-0.23	75.02	-75.25
Martin ratio: Return relative to average drawdown	-0.53	372.52	-373.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRFHF vs. GSY - Sharpe Ratio Comparison

The current FRFHF Sharpe Ratio is -0.21, which is lower than the GSY Sharpe Ratio of 11.16. The chart below compares the historical Sharpe Ratios of FRFHF and GSY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FRFHF	GSY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.21	11.16	-11.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.14	6.26	-5.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	2.35	-1.83
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.46	+0.04

Drawdowns

FRFHF vs. GSY - Drawdown Comparison

The maximum FRFHF drawdown since its inception was -58.92%, which is greater than GSY's maximum drawdown of -12.14%. Use the drawdown chart below to compare losses from any high point for FRFHF and GSY.

Drawdown Indicators

	FRFHF	GSY	Difference
Max Drawdown Largest peak-to-trough decline	-58.92%	-12.14%	-46.78%
Max Drawdown (1Y) Largest decline over 1 year	-19.55%	-0.06%	-19.49%
Max Drawdown (3Y) Largest decline over 3 years	-19.55%	-0.18%	-19.37%
Max Drawdown (5Y) Largest decline over 5 years	-20.88%	-1.48%	-19.40%
Max Drawdown (10Y) Largest decline over 10 years	-58.92%	-5.25%	-53.67%
Current Drawdown Current decline from peak	-16.76%	-0.06%	-16.70%
Average Drawdown Average peak-to-trough decline	-12.48%	-2.39%	-10.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.63%	0.01%	+8.62%

Volatility

FRFHF vs. GSY - Volatility Comparison

Fairfax Financial Holdings Ltd (FRFHF) has a higher volatility of 5.64% compared to Invesco Ultra Short Duration ETF (GSY) at 0.15%. This indicates that FRFHF'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.

Volatility by Period

	FRFHF	GSY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.64%	0.15%	+5.49%
Volatility (6M) Calculated over the trailing 6-month period	17.33%	0.30%	+17.03%
Volatility (1Y) Calculated over the trailing 1-year period	21.87%	0.40%	+21.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.66%	0.58%	+25.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.18%	1.22%	+25.96%

Dividends

FRFHF vs. GSY - Dividend Comparison

FRFHF's dividend yield for the trailing twelve months is around 0.95%, less than GSY's 4.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRFHF Fairfax Financial Holdings Ltd	0.95%	0.79%	1.08%	1.09%	1.68%	2.03%	2.93%	2.13%	2.27%	1.89%	2.09%	2.12%
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

Can I hold both FRFHF and GSY in my portfolio?

FRFHF and GSY have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FRFHF or GSY?

FRFHF has higher volatility (5.64%) compared to GSY (0.15%). In terms of maximum drawdown, FRFHF dropped -58.92% vs GSY's -12.14%.

Which has better risk-adjusted returns?

GSY currently has the higher Sharpe Ratio (11.16 vs -0.21), 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.