FXNAX vs. FFRHX
FXNAX (Fidelity U.S. Bond Index Fund) and FFRHX (Fidelity Floating Rate High Income Fund) are both mutual funds - FXNAX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while FFRHX is a Bank Loan fund actively managed by Fidelity. FXNAX is passively managed, while FFRHX is actively managed. Over the past 10 years, FXNAX returned 1.44%/yr vs 4.98%/yr for FFRHX. At a 0.05 correlation, their price movements are largely independent. FXNAX charges 0.03%/yr vs 0.67%/yr for FFRHX.
Performance
FXNAX vs. FFRHX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FXNAX achieves a 0.11% return, which is significantly lower than FFRHX's 1.71% return. Over the past 10 years, FXNAX has underperformed FFRHX with an annualized return of 1.44%, while FFRHX has yielded a comparatively higher 4.98% annualized return.
FXNAX
- 1D
- -0.29%
- 1M
- 0.61%
- YTD
- 0.11%
- 6M
- 0.43%
- 1Y
- 4.25%
- 3Y*
- 3.88%
- 5Y*
- -0.05%
- 10Y*
- 1.44%
FFRHX
- 1D
- 0.00%
- 1M
- 0.22%
- YTD
- 1.71%
- 6M
- 2.32%
- 1Y
- 5.89%
- 3Y*
- 7.20%
- 5Y*
- 5.40%
- 10Y*
- 4.98%
FXNAX vs. FFRHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXNAX Fidelity U.S. Bond Index Fund | 0.11% | 7.14% | 1.35% | 5.82% | -13.55% | -2.10% | 7.63% | 8.50% | 0.04% | 3.50% |
FFRHX Fidelity Floating Rate High Income Fund | 1.71% | 5.47% | 7.10% | 12.63% | -1.55% | 5.01% | 1.69% | 8.63% | 0.10% | 3.91% |
Correlation
The correlation between FXNAX and FFRHX is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since May 4, 2011 | 0.05 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FXNAX vs. FFRHX — Risk / Return Rank
FXNAX
FFRHX
FXNAX vs. FFRHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. Bond Index Fund (FXNAX) and Fidelity Floating Rate High Income Fund (FFRHX). 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.
| FXNAX | FFRHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -4.21 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.87 | -0.67 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 4.97 | -3.45 |
| Martin ratioReturn relative to average drawdown | 4.36 | 17.06 | -12.70 |
Loading charts...
Drawdowns
FXNAX vs. FFRHX - Drawdown Comparison
The maximum FXNAX drawdown since its inception was -19.51%, smaller than the maximum FFRHX drawdown of -22.20%. Use the drawdown chart below to compare losses from any high point for FXNAX and FFRHX.
Loading charts...
Drawdown Indicators
| FXNAX | FFRHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.51% | -22.20% | +2.69% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -1.19% | -1.75% |
Max Drawdown (3Y)Largest decline over 3 years | -6.16% | -3.29% | -2.87% |
Max Drawdown (5Y)Largest decline over 5 years | -18.54% | -5.90% | -12.64% |
Max Drawdown (10Y)Largest decline over 10 years | -19.51% | -22.20% | +2.69% |
Current DrawdownCurrent decline from peak | -3.17% | -0.44% | -2.73% |
Average DrawdownAverage peak-to-trough decline | -3.86% | -1.15% | -2.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 0.35% | +0.67% |
Volatility
FXNAX vs. FFRHX - Volatility Comparison
Fidelity U.S. Bond Index Fund (FXNAX) has a higher volatility of 1.16% compared to Fidelity Floating Rate High Income Fund (FFRHX) at 0.66%. This indicates that FXNAX's price experiences larger fluctuations and is considered to be riskier than FFRHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FXNAX | FFRHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 0.66% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 1.63% | +1.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 2.37% | +1.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.08% | 2.88% | +3.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.01% | 4.14% | +0.87% |
FXNAX vs. FFRHX - Expense Ratio Comparison
FXNAX has a 0.03% expense ratio, which is lower than FFRHX's 0.67% expense ratio.
Dividends
FXNAX vs. FFRHX - Dividend Comparison
FXNAX's dividend yield for the trailing twelve months is around 3.72%, less than FFRHX's 7.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFRHX Fidelity Floating Rate High Income Fund | 7.09% | 7.41% | 6.94% | 8.24% | 3.81% | 2.74% | 3.84% | 5.15% | 4.74% | 4.05% | 4.44% | 3.69% |
FXNAX Fidelity U.S. Bond Index Fund | 3.72% | 3.58% | 3.40% | 3.15% | 1.81% | 1.74% | 2.92% | 2.68% | 2.74% | 2.57% | 2.76% | 2.52% |
Frequently Asked Questions
FXNAX and FFRHX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXNAX has higher volatility (1.16%) compared to FFRHX (0.66%). In terms of maximum drawdown, FXNAX dropped -19.51% vs FFRHX's -22.20%.
FFRHX currently has the higher Sharpe Ratio (2.50 vs 1.14), 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.
Find the right allocation for FXNAX and FFRHX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer