FSHGX vs. ISD
FSHGX (Fidelity SAI High Income Fund) and ISD (PGIM High Yield Bond Fund) are both High Yield Bonds funds. Over the past 5 years, FSHGX returned 4.42%/yr vs 4.76%/yr for ISD. A 0.53 correlation means they provide meaningful diversification when combined. FSHGX charges 0.60%/yr vs 0.02%/yr for ISD.
Performance
FSHGX vs. ISD - Performance Comparison
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Returns By Period
In the year-to-date period, FSHGX achieves a 3.27% return, which is significantly higher than ISD's -8.90% return.
FSHGX
- 1D
- -0.31%
- 1M
- 0.52%
- YTD
- 3.27%
- 6M
- 3.91%
- 1Y
- 9.25%
- 3Y*
- 10.22%
- 5Y*
- 4.42%
- 10Y*
- —
ISD
- 1D
- -0.55%
- 1M
- -1.20%
- YTD
- -8.90%
- 6M
- -8.49%
- 1Y
- -0.13%
- 3Y*
- 10.95%
- 5Y*
- 4.76%
- 10Y*
- 6.89%
FSHGX vs. ISD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FSHGX Fidelity SAI High Income Fund | 3.27% | 10.26% | 9.79% | 10.82% | -12.03% | 2.72% |
ISD PGIM High Yield Bond Fund | -8.90% | 15.63% | 22.05% | 15.05% | -18.42% | 7.17% |
Correlation
The correlation between FSHGX and ISD is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since May 18, 2021 | 0.53 |
The correlation between FSHGX and ISD has been stable across timeframes, ranging from 0.44 to 0.53 - a consistent structural relationship.
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Return for Risk
FSHGX vs. ISD — Risk / Return Rank
FSHGX
ISD
FSHGX vs. ISD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI High Income Fund (FSHGX) and PGIM High Yield Bond Fund (ISD). 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 | ISD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.79 | ||
| Sortino ratioReturn per unit of downside risk | +4.65 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.01 | +0.64 |
| Calmar ratioReturn relative to maximum drawdown | 4.18 | -0.01 | +4.19 |
| Martin ratioReturn relative to average drawdown | 20.06 | -0.03 | +20.09 |
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Drawdowns
FSHGX vs. ISD - Drawdown Comparison
The maximum FSHGX drawdown since its inception was -15.77%, smaller than the maximum ISD drawdown of -38.88%. Use the drawdown chart below to compare losses from any high point for FSHGX and ISD.
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Drawdown Indicators
| FSHGX | ISD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.77% | -38.88% | +23.11% |
Max Drawdown (1Y)Largest decline over 1 year | -2.31% | -13.52% | +11.21% |
Max Drawdown (3Y)Largest decline over 3 years | -3.93% | -13.94% | +10.01% |
Max Drawdown (5Y)Largest decline over 5 years | -15.77% | -25.45% | +9.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.88% | — |
Current DrawdownCurrent decline from peak | -0.52% | -10.84% | +10.32% |
Average DrawdownAverage peak-to-trough decline | -3.79% | -5.61% | +1.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 5.03% | -4.55% |
Volatility
FSHGX vs. ISD - Volatility Comparison
The current volatility for Fidelity SAI High Income Fund (FSHGX) is 1.03%, while PGIM High Yield Bond Fund (ISD) has a volatility of 1.68%. This indicates that FSHGX experiences smaller price fluctuations and is considered to be less risky than ISD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSHGX | ISD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 1.68% | -0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 2.71% | 9.56% | -6.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.47% | 11.16% | -7.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.27% | 13.35% | -8.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.22% | 14.57% | -9.35% |
FSHGX vs. ISD - Expense Ratio Comparison
FSHGX has a 0.60% expense ratio, which is higher than ISD's 0.02% expense ratio.
Dividends
FSHGX vs. ISD - Dividend Comparison
FSHGX's dividend yield for the trailing twelve months is around 6.34%, less than ISD's 9.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSHGX Fidelity SAI High Income Fund | 6.34% | 6.34% | 6.15% | 5.47% | 3.99% | 2.28% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ISD PGIM High Yield Bond Fund | 9.94% | 8.71% | 9.21% | 10.23% | 10.61% | 7.85% | 8.40% | 7.86% | 7.89% | 8.46% | 8.28% | 9.64% |
Frequently Asked Questions
FSHGX and ISD have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISD has higher volatility (1.68%) compared to FSHGX (1.03%). In terms of maximum drawdown, FSHGX dropped -15.77% vs ISD's -38.88%.
FSHGX currently has the higher Sharpe Ratio (2.78 vs -0.01), 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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