FSHNX vs. IVVM

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Series High Income Fund (FSHNX) and iShares Large Cap Moderate Buffer ETF (IVVM).

FSHNX is managed by Fidelity. It was launched on Mar 10, 2011. IVVM is an actively managed fund by iShares. It was launched on Jun 28, 2023.

Performance

FSHNX vs. IVVM - 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 Moderate Buffer ETF (IVVM). The values are adjusted to include any dividend payments, if applicable.

FSHNX vs. IVVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FSHNX Fidelity Series High Income Fund	-0.85%	11.17%	8.75%	6.27%
IVVM iShares Large Cap Moderate Buffer ETF	-1.95%	14.24%	16.08%	5.17%

Returns By Period

In the year-to-date period, FSHNX achieves a -0.85% return, which is significantly higher than IVVM's -1.95% return.

FSHNX

• 1D: 0.00%
• 1M: -2.13%
• YTD: -0.85%
• 6M: 1.07%
• 1Y: 9.23%
• 3Y*: 9.00%
• 5Y*: 4.58%
• 10Y*: 6.22%

IVVM

• 1D: 2.22%
• 1M: -2.21%
• YTD: -1.95%
• 6M: 0.42%
• 1Y: 12.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FSHNX vs. IVVM - Expense Ratio Comparison

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

IVVM

iShares Large Cap Moderate Buffer ETF

FSHNX

Fidelity Series High Income Fund

Return for Risk

FSHNX vs. IVVM — Risk / Return Rank

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

FSHNX

FSHNX Risk / Return Rank: 95
FSHNX Sharpe Ratio Rank: 96
FSHNX Sortino Ratio Rank: 96
FSHNX Omega Ratio Rank: 96
FSHNX Calmar Ratio Rank: 93
FSHNX Martin Ratio Rank: 95

IVVM

IVVM Risk / Return Rank: 64
IVVM Sharpe Ratio Rank: 56
IVVM Sortino Ratio Rank: 59
IVVM Omega Ratio Rank: 72
IVVM Calmar Ratio Rank: 56
IVVM Martin Ratio Rank: 77

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. IVVM - 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 Moderate Buffer ETF (IVVM). 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.

	FSHNX	IVVM	Difference
Sharpe ratio Return per unit of total volatility	2.40	0.96	+1.44
Sortino ratio Return per unit of downside risk	3.54	1.48	+2.06
Omega ratio Gain probability vs. loss probability	1.59	1.26	+0.33
Calmar ratio Return relative to maximum drawdown	2.82	1.38	+1.44
Martin ratio Return relative to average drawdown	13.13	7.89	+5.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSHNX vs. IVVM - Sharpe Ratio Comparison

The current FSHNX Sharpe Ratio is 2.40, which is higher than the IVVM Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of FSHNX and IVVM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FSHNX	IVVM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	0.96	+1.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	1.24	-0.28

Correlation

The correlation between FSHNX and IVVM is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FSHNX vs. IVVM - Dividend Comparison

FSHNX's dividend yield for the trailing twelve months is around 6.57%, more than IVVM's 0.70% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSHNX Fidelity Series High Income Fund	6.57%	7.04%	5.97%	6.21%	4.90%	5.01%	5.57%	6.35%	6.95%	6.03%	6.24%	5.79%
IVVM iShares Large Cap Moderate Buffer ETF	0.70%	0.68%	0.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FSHNX vs. IVVM - Drawdown Comparison

The maximum FSHNX drawdown since its inception was -21.98%, which is greater than IVVM's maximum drawdown of -11.62%. Use the drawdown chart below to compare losses from any high point for FSHNX and IVVM.

Drawdown Indicators

	FSHNX	IVVM	Difference
Max Drawdown Largest peak-to-trough decline	-21.98%	-11.62%	-10.36%
Max Drawdown (1Y) Largest decline over 1 year	-3.26%	-9.29%	+6.03%
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	-2.13%	-3.21%	+1.08%
Average Drawdown Average peak-to-trough decline	-2.44%	-0.96%	-1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.70%	1.63%	-0.93%

Volatility

FSHNX vs. IVVM - Volatility Comparison

The current volatility for Fidelity Series High Income Fund (FSHNX) is 1.23%, while iShares Large Cap Moderate Buffer ETF (IVVM) has a volatility of 3.76%. This indicates that FSHNX experiences smaller price fluctuations and is considered to be less risky than IVVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSHNX	IVVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	3.76%	-2.53%
Volatility (6M) Calculated over the trailing 6-month period	2.26%	6.03%	-3.77%
Volatility (1Y) Calculated over the trailing 1-year period	4.02%	12.91%	-8.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.27%	9.83%	-4.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.83%	9.83%	-4.00%