FSHGX vs. FSHNX
FSHGX (Fidelity SAI High Income Fund) and FSHNX (Fidelity Series High Income Fund) are both High Yield Bonds funds from Fidelity. Over the past 5 years, FSHGX returned 4.15%/yr vs 4.50%/yr for FSHNX. Their 0.95 correlation means they have historically moved very closely together. FSHGX charges 0.60%/yr vs 0.00%/yr for FSHNX.
Performance
FSHGX vs. FSHNX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FSHGX having a 2.59% return and FSHNX slightly higher at 2.61%.
FSHGX
- 1D
- 0.21%
- 1M
- -1.05%
- 6M
- 1.67%
- YTD
- 2.59%
- 1Y
- 7.23%
- 3Y*
- 9.15%
- 5Y*
- 4.15%
- 10Y*
- —
- ALL TIME*
- 4.28%
FSHNX
- 1D
- 0.23%
- 1M
- -0.78%
- 6M
- 1.87%
- YTD
- 2.61%
- 1Y
- 7.67%
- 3Y*
- 9.15%
- 5Y*
- 4.50%
- 10Y*
- 5.82%
- ALL TIME*
- 5.42%
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 |
FSHGX vs. FSHNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FSHGX Fidelity SAI High Income Fund | 2.59% | 10.26% | 9.79% | 10.82% | -12.03% | 2.72% |
FSHNX Fidelity Series High Income Fund | 2.61% | 11.17% | 8.75% | 11.25% | -11.52% | 5.17% |
Correlation
The correlation between FSHGX and FSHNX is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (All Time) Calculated using the full available price history since May 18, 2021 | 0.95 |
The correlation between FSHGX and FSHNX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
FSHGX vs. FSHNX — Risk / Return Rank
FSHGX
FSHNX
FSHGX vs. FSHNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI High Income Fund (FSHGX) and Fidelity Series High Income Fund (FSHNX). 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.
| FSHGX | FSHNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.55 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 3.79 | -0.55 |
| Martin ratioReturn relative to average drawdown | 14.19 | 18.09 | -3.89 |
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Drawdowns
FSHGX vs. FSHNX - Drawdown Comparison
The maximum FSHGX drawdown since its inception was -15.77%, smaller than the maximum FSHNX drawdown of -21.98%. Use the drawdown chart below to compare losses from any high point for FSHGX and FSHNX.
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Drawdown Indicators
| FSHGX | FSHNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.77% | -21.98% | +6.21% |
Max Drawdown (1Y)Largest decline over 1 year | -2.31% | -2.13% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -3.92% | -4.05% | +0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -15.77% | -15.32% | -0.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.98% | — |
Current DrawdownCurrent decline from peak | -1.17% | -0.89% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -3.72% | -2.39% | -1.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 0.44% | +0.08% |
Volatility
FSHGX vs. FSHNX - Volatility Comparison
Fidelity SAI High Income Fund (FSHGX) has a higher volatility of 0.58% compared to Fidelity Series High Income Fund (FSHNX) at 0.55%. This indicates that FSHGX's price experiences larger fluctuations and is considered to be riskier than FSHNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSHGX | FSHNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 0.55% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.76% | 2.63% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.46% | 3.35% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.27% | 5.30% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.18% | 5.78% | -0.60% |
FSHGX vs. FSHNX - Expense Ratio Comparison
FSHGX has a 0.60% expense ratio, which is higher than FSHNX's 0.00% expense ratio.
Dividends
FSHGX vs. FSHNX - Dividend Comparison
FSHGX's dividend yield for the trailing twelve months is around 5.94%, less than FSHNX's 6.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSHGX Fidelity SAI High Income Fund | 5.94% | 6.34% | 6.15% | 5.47% | 3.99% | 2.28% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FSHNX Fidelity Series High Income Fund | 6.51% | 7.04% | 5.97% | 6.21% | 4.90% | 5.01% | 5.57% | 6.35% | 6.95% | 6.03% | 6.24% | 5.79% |
Frequently Asked Questions
With a correlation of 0.93, FSHGX and FSHNX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FSHGX has higher volatility (0.58%) compared to FSHNX (0.55%). In terms of maximum drawdown, FSHGX dropped -15.77% vs FSHNX's -21.98%.
FSHNX currently has the higher Sharpe Ratio (2.41 vs 2.16), 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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