FSDHX vs. MDHVX
FSDHX (Fidelity Advisor Short Duration High Income Fund Class C) and MDHVX (MainStay MacKay Short Duration High Yield Fund) are both High Yield Bonds funds. Over the past 10 years, FSDHX returned 3.33%/yr vs 4.39%/yr for MDHVX. Their 0.72 correlation means they have sometimes moved together and sometimes differently. FSDHX charges 1.75%/yr vs 1.10%/yr for MDHVX.
Performance
FSDHX vs. MDHVX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FSDHX having a 1.90% return and MDHVX slightly lower at 1.89%. Over the past 10 years, FSDHX has underperformed MDHVX with an annualized return of 3.33%, while MDHVX has yielded a comparatively higher 4.39% annualized return.
FSDHX
- 1D
- 0.22%
- 1M
- -0.67%
- 6M
- 1.28%
- YTD
- 1.90%
- 1Y
- 5.56%
- 3Y*
- 6.58%
- 5Y*
- 3.19%
- 10Y*
- 3.33%
- ALL TIME*
- 2.70%
MDHVX
- 1D
- 0.11%
- 1M
- -0.21%
- 6M
- 1.56%
- YTD
- 1.89%
- 1Y
- 3.89%
- 3Y*
- 6.03%
- 5Y*
- 4.24%
- 10Y*
- 4.39%
- ALL TIME*
- 4.30%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FSDHX vs. MDHVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSDHX Fidelity Advisor Short Duration High Income Fund Class C | 1.90% | 6.64% | 6.72% | 9.17% | -8.04% | 1.91% | 2.93% | 8.23% | -2.22% | 3.92% |
MDHVX MainStay MacKay Short Duration High Yield Fund | 1.89% | 5.38% | 6.51% | 9.86% | -2.81% | 4.38% | 2.92% | 9.00% | -0.13% | 4.30% |
Correlation
The correlation between FSDHX and MDHVX is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.66 |
Correlation (3Y) Balances recent behavior with more history. | 0.73 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.78 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2013 | 0.72 |
The correlation between FSDHX and MDHVX shifts across timeframes, from 0.66 (1 year) to 0.78 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FSDHX vs. MDHVX — Risk / Return Rank
FSDHX
MDHVX
FSDHX vs. MDHVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Short Duration High Income Fund Class C (FSDHX) and MainStay MacKay Short Duration High Yield Fund (MDHVX). 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.
| FSDHX | MDHVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.51 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.47 | 3.53 | -0.06 |
| Martin ratioReturn relative to average drawdown | 16.03 | 16.88 | -0.85 |
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Drawdowns
FSDHX vs. MDHVX - Drawdown Comparison
The maximum FSDHX drawdown since its inception was -16.84%, smaller than the maximum MDHVX drawdown of -18.04%. Use the drawdown chart below to compare losses from any high point for FSDHX and MDHVX.
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Drawdown Indicators
| FSDHX | MDHVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.84% | -18.04% | +1.20% |
Max Drawdown (1Y)Largest decline over 1 year | -1.67% | -1.06% | -0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -3.38% | -2.65% | -0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -9.95% | -6.26% | -3.69% |
Max Drawdown (10Y)Largest decline over 10 years | -16.84% | -18.04% | +1.20% |
Current DrawdownCurrent decline from peak | -0.78% | -0.32% | -0.46% |
Average DrawdownAverage peak-to-trough decline | -1.79% | -0.77% | -1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 0.22% | +0.14% |
Volatility
FSDHX vs. MDHVX - Volatility Comparison
Fidelity Advisor Short Duration High Income Fund Class C (FSDHX) has a higher volatility of 0.52% compared to MainStay MacKay Short Duration High Yield Fund (MDHVX) at 0.46%. This indicates that FSDHX's price experiences larger fluctuations and is considered to be riskier than MDHVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSDHX | MDHVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 0.46% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.22% | 1.33% | +0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.80% | 1.80% | +1.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.75% | 2.59% | +1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.14% | 3.41% | +0.73% |
FSDHX vs. MDHVX - Expense Ratio Comparison
FSDHX has a 1.75% expense ratio, which is higher than MDHVX's 1.10% expense ratio.
Dividends
FSDHX vs. MDHVX - Dividend Comparison
FSDHX's dividend yield for the trailing twelve months is around 5.91%, more than MDHVX's 4.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSDHX Fidelity Advisor Short Duration High Income Fund Class C | 5.91% | 6.33% | 5.14% | 4.98% | 2.17% | 2.00% | 2.49% | 3.23% | 3.49% | 3.12% | 3.68% | 3.42% |
MDHVX MainStay MacKay Short Duration High Yield Fund | 4.80% | 5.47% | 6.01% | 5.53% | 4.31% | 3.80% | 4.44% | 4.37% | 4.33% | 4.03% | 4.95% | 4.87% |
Frequently Asked Questions
FSDHX and MDHVX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSDHX has higher volatility (0.52%) compared to MDHVX (0.46%). In terms of maximum drawdown, FSDHX dropped -16.84% vs MDHVX's -18.04%.
FSDHX currently has the higher Sharpe Ratio (2.08 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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