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FSHNX vs. IVVB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FSHNX vs. IVVB

Last updated Jun 24, 2026

FSHNX (Fidelity Series High Income Fund) and IVVB (iShares Large Cap Deep Buffer ETF) are both funds - FSHNX is a High Yield Bonds fund managed by Fidelity, while IVVB is a Options Trading fund actively managed by iShares. Over the past year, FSHNX returned 10.12% vs 12.68% for IVVB. A 0.50 correlation means they provide meaningful diversification when combined. FSHNX charges 0.00%/yr vs 0.50%/yr for IVVB.

Performance

FSHNX vs. IVVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series High Income Fund (FSHNX) and iShares Large Cap Deep Buffer ETF (IVVB). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FSHNX achieves a 3.22% return, which is significantly lower than IVVB's 3.81% return.

FSHNX

1D
0.00%
1M
0.77%
YTD
3.22%
6M
3.90%
1Y
10.12%
3Y*
10.22%
5Y*
4.88%
10Y*
6.26%

IVVB

1D
-0.46%
1M
-0.43%
YTD
3.81%
6M
2.94%
1Y
12.68%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FSHNX vs. IVVB - Yearly Performance Comparison

2026 (YTD)202520242023
FSHNX
Fidelity Series High Income Fund		3.22%11.17%8.75%7.19%
IVVB
iShares Large Cap Deep Buffer ETF		3.81%9.60%18.66%2.64%

Correlation

The correlation between FSHNX and IVVB is 0.62, 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

0.62

Correlation (All Time)
Calculated using the full available price history since Jun 30, 2023

0.50

The correlation between FSHNX and IVVB shifts across timeframes, from 0.50 (all time) to 0.62 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Fidelity Series High Income Fund

iShares Large Cap Deep Buffer ETF

Often compared with FSHNX:
FSHNX vs. SPHYFSHNX vs. FAHCXFSHNX vs. FSHGXFSHNX vs. FDVVFSHNX vs. RMDFXFSHNX vs. VWEAXFSHNX vs. FEDCX
Often compared with IVVB:
IVVB vs. IVVIVVB vs. IVVMIVVB vs. SCHGIVVB vs. VOOIVVB vs. SPYIVVB vs. VTIIVVB vs. GOLD

Return for Risk

FSHNX vs. IVVB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FSHNX
FSHNX Risk / Return Rank: 9696
Overall Rank
FSHNX Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
FSHNX Sortino Ratio Rank: 9797
Sortino Ratio Rank
FSHNX Omega Ratio Rank: 9595
Omega Ratio Rank
FSHNX Calmar Ratio Rank: 9393
Calmar Ratio Rank
FSHNX Martin Ratio Rank: 9797
Martin Ratio Rank
IVVB
IVVB Risk / Return Rank: 5353
Overall Rank
IVVB Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
IVVB Sortino Ratio Rank: 5252
Sortino Ratio Rank
IVVB Omega Ratio Rank: 5454
Omega Ratio Rank
IVVB Calmar Ratio Rank: 4747
Calmar Ratio Rank
IVVB Martin Ratio Rank: 5656
Martin Ratio Rank
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.

FSHNX vs. IVVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series High Income Fund (FSHNX) and iShares Large Cap Deep Buffer ETF (IVVB). 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.

FSHNXIVVBDifference
Sharpe ratioReturn per unit of total volatility
3.07
1.72

+1.34

Sortino ratioReturn per unit of downside risk
5.58
2.41

+3.17

Omega ratioGain probability vs. loss probability

1.75

1.32

+0.43

Calmar ratioReturn relative to maximum drawdown

4.84

2.22

+2.63

Martin ratioReturn relative to average drawdown

25.04

9.43

+15.61

FSHNX vs. IVVB - Sharpe Ratio Comparison

The current FSHNX Sharpe Ratio is 3.07, which is higher than the IVVB Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of FSHNX and IVVB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FSHNX vs. IVVB - Drawdown Comparison

The maximum FSHNX drawdown since its inception was -21.98%, which is greater than IVVB's maximum drawdown of -13.08%. Use the drawdown chart below to compare losses from any high point for FSHNX and IVVB.

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Drawdown Indicators

FSHNXIVVBDifference

Max Drawdown

Largest peak-to-trough decline

-21.98%

-13.08%

-8.90%

Max Drawdown (1Y)

Largest decline over 1 year

-2.13%

-5.75%

+3.62%

Max Drawdown (3Y)

Largest decline over 3 years

-4.05%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-15.32%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-21.98%

—

—

Current Drawdown

Current decline from peak

-0.22%

-0.88%

+0.66%

Average Drawdown

Average peak-to-trough decline

-2.41%

-1.59%

-0.82%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.41%

1.35%

-0.94%

Volatility

FSHNX vs. IVVB - Volatility Comparison

The current volatility for Fidelity Series High Income Fund (FSHNX) is 0.84%, while iShares Large Cap Deep Buffer ETF (IVVB) has a volatility of 1.74%. This indicates that FSHNX experiences smaller price fluctuations and is considered to be less risky than IVVB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FSHNXIVVBDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.84%

1.74%

-0.90%

Volatility (6M)

Calculated over the trailing 6-month period

2.59%

5.49%

-2.90%

Volatility (1Y)

Calculated over the trailing 1-year period

3.36%

7.40%

-4.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.31%

9.25%

-3.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.82%

9.25%

-3.43%

FSHNX vs. IVVB - Expense Ratio Comparison

FSHNX has a 0.00% expense ratio, which is lower than IVVB's 0.50% expense ratio.

Dividends

FSHNX vs. IVVB - Dividend Comparison

FSHNX's dividend yield for the trailing twelve months is around 6.97%, more than IVVB's 1.18% yield.

PositionTTM20252024202320222021202020192018201720162015
FSHNX
Fidelity Series High Income Fund		6.97%7.04%5.97%6.21%4.90%5.01%5.57%6.35%6.95%6.03%6.24%5.79%
IVVB
iShares Large Cap Deep Buffer ETF		1.18%1.22%0.87%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

FSHNX and IVVB have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IVVB has higher volatility (1.74%) compared to FSHNX (0.84%). In terms of maximum drawdown, FSHNX dropped -21.98% vs IVVB's -13.08%.

FSHNX currently has the higher Sharpe Ratio (3.07 vs 1.72), 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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