GIGB vs. FDHY
GIGB (Goldman Sachs Access Investment Grade Corporate Bond ETF) and FDHY (Fidelity Enhanced High Yield ETF) are both exchange-traded funds - GIGB is a Corporate Bonds fund tracking the FTSE Goldman Sachs Investment Grade Corporate Bond Index, while FDHY is a High Yield Bonds fund actively managed by Fidelity. GIGB is passively managed, while FDHY is actively managed. Over the past 5 years, GIGB returned -0.35%/yr vs 3.74%/yr for FDHY. Their 0.46 correlation means their historical movements had little consistent relationship. GIGB charges 0.14%/yr vs 0.35%/yr for FDHY.
Performance
GIGB vs. FDHY - Performance Comparison
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Returns By Period
In the year-to-date period, GIGB achieves a -0.61% return, which is significantly lower than FDHY's 2.61% return.
GIGB
- 1D
- -0.20%
- 1M
- -1.73%
- 6M
- -0.97%
- YTD
- -0.61%
- 1Y
- 1.79%
- 3Y*
- 4.67%
- 5Y*
- -0.35%
- 10Y*
- —
- ALL TIME*
- 2.32%
FDHY
- 1D
- 0.06%
- 1M
- -0.17%
- 6M
- 1.67%
- YTD
- 2.61%
- 1Y
- 6.85%
- 3Y*
- 8.43%
- 5Y*
- 3.74%
- 10Y*
- —
- ALL TIME*
- 5.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.94M | $4.42M | $4.10M | |
| $1.70M | $2.15M | $3.17M |
GIGB vs. FDHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GIGB Goldman Sachs Access Investment Grade Corporate Bond ETF | -0.61% | 7.58% | 1.68% | 8.80% | -15.80% | -1.64% | 9.86% | 15.05% | 0.81% |
FDHY Fidelity Enhanced High Yield ETF | 2.61% | 9.24% | 7.53% | 11.14% | -11.30% | 4.33% | 10.71% | 16.87% | -2.35% |
Correlation
The correlation between GIGB and FDHY is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.59 |
Correlation (3Y) Balances recent behavior with more history. | 0.60 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2018 | 0.46 |
The correlation between GIGB and FDHY shifts across timeframes, from 0.46 (all time) to 0.60 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
GIGB vs. FDHY — Risk / Return Rank
GIGB
FDHY
GIGB vs. FDHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access Investment Grade Corporate Bond ETF (GIGB) and Fidelity Enhanced High Yield ETF (FDHY). 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.
| GIGB | FDHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.38 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.91 | 3.22 | -2.30 |
| Martin ratioReturn relative to average drawdown | 2.55 | 13.30 | -10.75 |
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Drawdowns
GIGB vs. FDHY - Drawdown Comparison
The maximum GIGB drawdown since its inception was -22.25%, which is greater than FDHY's maximum drawdown of -20.01%. Use the drawdown chart below to compare losses from any high point for GIGB and FDHY.
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Drawdown Indicators
| GIGB | FDHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.25% | -20.01% | -2.24% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -2.12% | -0.75% |
Max Drawdown (3Y)Largest decline over 3 years | -5.43% | -5.26% | -0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -22.25% | -16.38% | -5.87% |
Current DrawdownCurrent decline from peak | -2.21% | -0.36% | -1.85% |
Average DrawdownAverage peak-to-trough decline | -5.54% | -2.82% | -2.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 0.51% | +0.52% |
Volatility
GIGB vs. FDHY - Volatility Comparison
Goldman Sachs Access Investment Grade Corporate Bond ETF (GIGB) has a higher volatility of 1.20% compared to Fidelity Enhanced High Yield ETF (FDHY) at 0.81%. This indicates that GIGB's price experiences larger fluctuations and is considered to be riskier than FDHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GIGB | FDHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 0.81% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 3.35% | 2.84% | +0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.27% | 3.59% | +0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.25% | 7.13% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.62% | 7.98% | -0.36% |
GIGB vs. FDHY - Expense Ratio Comparison
GIGB has a 0.14% expense ratio, which is lower than FDHY's 0.35% expense ratio.
Dividends
GIGB vs. FDHY - Dividend Comparison
GIGB's dividend yield for the trailing twelve months is around 4.70%, less than FDHY's 6.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FDHY Fidelity Enhanced High Yield ETF | 6.54% | 6.56% | 6.58% | 6.26% | 5.34% | 6.09% | 5.78% | 4.94% | 2.55% | 0.00% |
GIGB Goldman Sachs Access Investment Grade Corporate Bond ETF | 4.29% | 4.69% | 4.45% | 3.67% | 3.12% | 2.25% | 2.62% | 3.22% | 3.31% | 1.55% |
Frequently Asked Questions
GIGB and FDHY have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GIGB has higher volatility (1.20%) compared to FDHY (0.81%). In terms of maximum drawdown, GIGB dropped -22.25% vs FDHY's -20.01%.
On 5-year performance, FDHY leads with 3.74% vs -0.35% for GIGB. On fees, GIGB is cheaper at 0.14% per year. On volatility, FDHY has been the lower-risk option at 0.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FDHY has performed better with a 3.74% return vs -0.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GIGB is cheaper with a 0.14% expense ratio, compared with 0.35% for FDHY.
FDHY has the higher dividend yield at 6.54%, compared with 4.29% for GIGB.
GIGB is categorized as Corporate Bonds, while FDHY is High Yield Bonds. They also come from different issuers: Goldman Sachs and Fidelity. Their fees differ too: 0.14% for GIGB and 0.35% for FDHY.
FDHY currently has the higher Sharpe Ratio (1.90 vs 0.61), 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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