FTBD vs. HYKE

Last updated Jul 31, 2026

FTBD (Fidelity Tactical Bond ETF) and HYKE (Vest 2 Year Interest Rate Hedge ETF) are both Nontraditional Bonds funds. Both are actively managed. FTBD charges 0.55%/yr vs 0.85%/yr for HYKE.

Performance

FTBD vs. HYKE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Tactical Bond ETF (FTBD) and Vest 2 Year Interest Rate Hedge ETF (HYKE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FTBD

• 1D: 0.18%
• 1M: -1.22%
• 6M: 0.01%
• YTD: 0.53%
• 1Y: 3.96%
• 3Y*: 4.75%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.04%

HYKE

• 1D: 0.00%
• 1M: 0.00%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FTBD Fidelity Tactical Bond ETF	$232.55K	$230.39K	$183.28K
HYKE Vest 2 Year Interest Rate Hedge ETF	$0.00	$0.00	$0.00

FTBD vs. HYKE - Yearly Performance Comparison

	2026 (YTD)
FTBD Fidelity Tactical Bond ETF	1.42%
HYKE Vest 2 Year Interest Rate Hedge ETF	0.00%

Return for Risk

FTBD vs. HYKE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FTBD

FTBD Risk / Return Rank: 38
FTBD Sharpe Ratio Rank: 39
FTBD Sortino Ratio Rank: 37
FTBD Omega Ratio Rank: 35
FTBD Calmar Ratio Rank: 39
FTBD Martin Ratio Rank: 40

HYKE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FTBD vs. HYKE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Tactical Bond ETF (FTBD) and Vest 2 Year Interest Rate Hedge ETF (HYKE). 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.

	FTBD	HYKE	Difference
Sharpe ratio: Return per unit of total volatility	0.93	—	—
Sortino ratio: Return per unit of downside risk	1.35	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	1.33	—	—
Martin ratio: Return relative to average drawdown	4.16	—	—

Drawdowns

FTBD vs. HYKE - Drawdown Comparison

The maximum FTBD drawdown since its inception was -6.98%, which is greater than HYKE's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for FTBD and HYKE.

Drawdown Indicators

	FTBD	HYKE	Difference
Max Drawdown Largest peak-to-trough decline	-6.98%	0.00%	-6.98%
Max Drawdown (1Y) Largest decline over 1 year	-2.98%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-5.34%	—	—
Current Drawdown Current decline from peak	-1.60%	0.00%	-1.60%
Average Drawdown Average peak-to-trough decline	-1.55%	0.00%	-1.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	—	—

Volatility

Volatility by Period

	FTBD	HYKE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.38%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.44%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.28%	0.00%	+4.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.81%	0.00%	+5.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.81%	0.00%	+5.81%

FTBD vs. HYKE - Expense Ratio Comparison

FTBD has a 0.55% expense ratio, which is lower than HYKE's 0.85% expense ratio.

Dividends

FTBD vs. HYKE - Dividend Comparison

FTBD's dividend yield for the trailing twelve months is around 5.07%, while HYKE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
FTBD Fidelity Tactical Bond ETF	5.07%	5.04%	4.76%	4.69%
HYKE Vest 2 Year Interest Rate Hedge ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, FTBD or HYKE?

On fees, FTBD is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTBD or HYKE?

FTBD is cheaper with a 0.55% expense ratio, compared with 0.85% for HYKE.

Which ETF pays a higher dividend yield, FTBD or HYKE?

FTBD has the higher dividend yield at 5.07%, compared with 0.00% for HYKE.

What is the main difference between FTBD and HYKE?

They also come from different issuers: Fidelity and CBOE Vest. Their fees differ too: 0.55% for FTBD and 0.85% for HYKE.