FSAHX vs. SHYG
FSAHX (Fidelity Short Duration High Income Fund) and SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) are both High Yield Bonds funds. Over the past 10 years, FSAHX returned 4.59%/yr vs 5.18%/yr for SHYG. A 0.57 correlation means they provide meaningful diversification when combined. FSAHX charges 0.75%/yr vs 0.30%/yr for SHYG.
Performance
FSAHX vs. SHYG - Performance Comparison
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Returns By Period
In the year-to-date period, FSAHX achieves a 3.08% return, which is significantly higher than SHYG's 1.44% return. Over the past 10 years, FSAHX has underperformed SHYG with an annualized return of 4.59%, while SHYG has yielded a comparatively higher 5.18% annualized return.
FSAHX
- 1D
- 0.00%
- 1M
- 0.83%
- YTD
- 3.08%
- 6M
- 3.61%
- 1Y
- 8.91%
- 3Y*
- 8.53%
- 5Y*
- 4.48%
- 10Y*
- 4.59%
SHYG
- 1D
- -0.24%
- 1M
- 0.35%
- YTD
- 1.44%
- 6M
- 1.95%
- 1Y
- 6.50%
- 3Y*
- 8.12%
- 5Y*
- 4.83%
- 10Y*
- 5.18%
FSAHX vs. SHYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSAHX Fidelity Short Duration High Income Fund | 3.08% | 7.75% | 7.74% | 10.29% | -7.06% | 2.78% | 3.69% | 9.32% | -1.24% | 4.96% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 1.44% | 7.94% | 8.17% | 10.38% | -4.71% | 4.60% | 3.15% | 9.93% | 0.02% | 5.11% |
Correlation
The correlation between FSAHX and SHYG is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2013 | 0.57 |
The correlation between FSAHX and SHYG shifts across timeframes, from 0.57 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FSAHX vs. SHYG — Risk / Return Rank
FSAHX
SHYG
FSAHX vs. SHYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Short Duration High Income Fund (FSAHX) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG). 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.
| FSAHX | SHYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.04 | ||
| Sortino ratioReturn per unit of downside risk | +2.82 | ||
| Omega ratioGain probability vs. loss probability | 1.81 | 1.41 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 5.16 | 3.73 | +1.43 |
| Martin ratioReturn relative to average drawdown | 27.60 | 16.23 | +11.37 |
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
| FSAHX | SHYG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.10 | 2.07 | +1.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.16 | 0.85 | +0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.08 | 0.81 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.91 | 0.73 | +0.18 |
Drawdowns
FSAHX vs. SHYG - Drawdown Comparison
The maximum FSAHX drawdown since its inception was -16.77%, smaller than the maximum SHYG drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for FSAHX and SHYG.
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Drawdown Indicators
| FSAHX | SHYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.77% | -19.26% | +2.49% |
Max Drawdown (1Y)Largest decline over 1 year | -1.78% | -1.75% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -3.30% | -4.53% | +1.23% |
Max Drawdown (5Y)Largest decline over 5 years | -9.43% | -9.39% | -0.04% |
Max Drawdown (10Y)Largest decline over 10 years | -16.77% | -19.26% | +2.49% |
Current DrawdownCurrent decline from peak | 0.00% | -0.24% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -1.55% | -1.44% | -0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.33% | 0.40% | -0.07% |
Volatility
FSAHX vs. SHYG - Volatility Comparison
The current volatility for Fidelity Short Duration High Income Fund (FSAHX) is 0.82%, while iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) has a volatility of 0.94%. This indicates that FSAHX experiences smaller price fluctuations and is considered to be less risky than SHYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSAHX | SHYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 0.94% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.22% | 2.51% | -0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.96% | 3.16% | -0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.87% | 5.73% | -1.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.25% | 6.42% | -2.17% |
FSAHX vs. SHYG - Expense Ratio Comparison
FSAHX has a 0.75% expense ratio, which is higher than SHYG's 0.30% expense ratio.
Dividends
FSAHX vs. SHYG - Dividend Comparison
FSAHX's dividend yield for the trailing twelve months is around 7.28%, more than SHYG's 7.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSAHX Fidelity Short Duration High Income Fund | 7.28% | 7.36% | 6.08% | 5.97% | 3.26% | 2.85% | 3.19% | 4.22% | 4.52% | 4.11% | 4.73% | 4.40% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 7.02% | 7.03% | 6.93% | 6.54% | 5.57% | 4.83% | 5.07% | 5.33% | 5.90% | 5.49% | 5.53% | 5.17% |
Frequently Asked Questions
FSAHX and SHYG have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHYG has higher volatility (0.94%) compared to FSAHX (0.82%). In terms of maximum drawdown, FSAHX dropped -16.77% vs SHYG's -19.26%.
FSAHX currently has the higher Sharpe Ratio (3.10 vs 2.07), 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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