FSEC vs. DDV

Last updated Jun 4, 2026

FSEC (Fidelity Investment Grade Securitized ETF) and DDV (Defined Duration 5 ETF) are both Intermediate Core Bond funds. Both are actively managed. A 0.68 correlation means they provide meaningful diversification when combined. FSEC charges 0.36%/yr vs 0.25%/yr for DDV.

Performance

FSEC vs. DDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Investment Grade Securitized ETF (FSEC) and Defined Duration 5 ETF (DDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSEC achieves a 0.70% return, which is significantly lower than DDV's 2.25% return.

FSEC

• 1D: -0.27%
• 1M: 0.25%
• YTD: 0.70%
• 6M: 0.93%
• 1Y: 6.85%
• 3Y*: 4.79%
• 5Y*: 0.48%
• 10Y*: —

DDV

• 1D: -0.04%
• 1M: 0.52%
• YTD: 2.25%
• 6M: 2.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FSEC vs. DDV - Yearly Performance Comparison

	2026 (YTD)	2025
FSEC Fidelity Investment Grade Securitized ETF	0.70%	0.75%
DDV Defined Duration 5 ETF	2.25%	0.71%

Correlation

The correlation between FSEC and DDV 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 (All Time) Calculated using the full available price history since Nov 14, 2025	0.68

Return for Risk

FSEC vs. DDV — Risk / Return Rank

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

FSEC

FSEC Risk / Return Rank: 42
FSEC Sharpe Ratio Rank: 35
FSEC Sortino Ratio Rank: 37
FSEC Omega Ratio Rank: 37
FSEC Calmar Ratio Rank: 55
FSEC Martin Ratio Rank: 47

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.

FSEC vs. DDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Investment Grade Securitized ETF (FSEC) and Defined Duration 5 ETF (DDV). 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.

	FSEC	DDV	Difference
Sharpe ratio Return per unit of total volatility	1.29	—	—
Sortino ratio Return per unit of downside risk	1.96	—	—
Omega ratio Gain probability vs. loss probability	1.25	—	—
Calmar ratio Return relative to maximum drawdown	2.73	—	—
Martin ratio Return relative to average drawdown	7.77	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FSEC	DDV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.29	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	2.09	-2.02

Drawdowns

FSEC vs. DDV - Drawdown Comparison

The maximum FSEC drawdown since its inception was -17.97%, which is greater than DDV's maximum drawdown of -1.92%. Use the drawdown chart below to compare losses from any high point for FSEC and DDV.

Drawdown Indicators

	FSEC	DDV	Difference
Max Drawdown Largest peak-to-trough decline	-17.97%	-1.92%	-16.05%
Max Drawdown (1Y) Largest decline over 1 year	-2.52%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-7.32%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.97%	—	—
Current Drawdown Current decline from peak	-1.36%	-0.09%	-1.27%
Average Drawdown Average peak-to-trough decline	-6.63%	-0.35%	-6.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	—	—

Volatility

Volatility by Period

	FSEC	DDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.50%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.33%	2.69%	+2.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.76%	2.69%	+4.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.61%	2.69%	+3.92%

FSEC vs. DDV - Expense Ratio Comparison

FSEC has a 0.36% expense ratio, which is higher than DDV's 0.25% expense ratio.

Dividends

FSEC vs. DDV - Dividend Comparison

FSEC's dividend yield for the trailing twelve months is around 4.45%, more than DDV's 1.21% yield.

Position	TTM	2025	2024	2023	2022	2021
DDV Defined Duration 5 ETF	1.21%	0.42%	0.00%	0.00%	0.00%	0.00%
FSEC Fidelity Investment Grade Securitized ETF	4.45%	4.22%	3.22%	3.41%	2.21%	0.96%

Frequently Asked Questions

Can I hold both FSEC and DDV in my portfolio?

FSEC and DDV 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.

Which ETF is better, FSEC or DDV?

On fees, DDV is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FSEC or DDV?

DDV is cheaper with a 0.25% expense ratio, compared with 0.36% for FSEC.

Which ETF pays a higher dividend yield, FSEC or DDV?

FSEC has the higher dividend yield at 4.45%, compared with 1.21% for DDV.

What is the main difference between FSEC and DDV?

They also come from different issuers: Fidelity and Discipline Funds. Their fees differ too: 0.36% for FSEC and 0.25% for DDV.