HOBEX vs. FDFIX

Last updated Jun 23, 2026

HOBEX (Holbrook Income Fund) and FDFIX (Fidelity Flex 500 Index Fund) are both mutual funds - HOBEX is a Short-Term Bond fund managed by Holbrook Holdings, while FDFIX is a Large Cap Blend Equities fund tracking the Fidelity U.S. Large Cap Index. Over the past 5 years, HOBEX returned 3.76%/yr vs 14.02%/yr for FDFIX. At a 0.20 correlation, their price movements are largely independent. HOBEX charges 1.60%/yr vs 0.00%/yr for FDFIX.

Performance

HOBEX vs. FDFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Holbrook Income Fund (HOBEX) and Fidelity Flex 500 Index Fund (FDFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOBEX achieves a 1.91% return, which is significantly lower than FDFIX's 10.05% return.

HOBEX

• 1D: -0.10%
• 1M: 0.34%
• YTD: 1.91%
• 6M: 2.93%
• 1Y: 5.65%
• 3Y*: 6.54%
• 5Y*: 3.76%
• 10Y*: —

FDFIX

• 1D: 1.14%
• 1M: 0.69%
• YTD: 10.05%
• 6M: 9.52%
• 1Y: 26.74%
• 3Y*: 20.85%
• 5Y*: 14.02%
• 10Y*: —

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

HOBEX vs. FDFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HOBEX Holbrook Income Fund	1.91%	7.23%	7.16%	4.74%	-3.42%	6.25%	6.83%	7.30%	1.26%	1.86%
FDFIX Fidelity Flex 500 Index Fund	10.05%	17.59%	25.06%	26.27%	-18.10%	28.69%	18.46%	31.47%	-4.45%	14.41%

Correlation

The correlation between HOBEX and FDFIX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (All Time) Calculated using the full available price history since Mar 9, 2017	0.20

Return for Risk

HOBEX vs. FDFIX — Risk / Return Rank

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

HOBEX

HOBEX Risk / Return Rank: 97
HOBEX Sharpe Ratio Rank: 90
HOBEX Sortino Ratio Rank: 98
HOBEX Omega Ratio Rank: 98
HOBEX Calmar Ratio Rank: 99
HOBEX Martin Ratio Rank: 98

FDFIX

FDFIX Risk / Return Rank: 63
FDFIX Sharpe Ratio Rank: 61
FDFIX Sortino Ratio Rank: 55
FDFIX Omega Ratio Rank: 57
FDFIX Calmar Ratio Rank: 65
FDFIX Martin Ratio Rank: 74

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.

HOBEX vs. FDFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Holbrook Income Fund (HOBEX) and Fidelity Flex 500 Index Fund (FDFIX). 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.

	HOBEX	FDFIX	Difference
Sharpe ratio: Return per unit of total volatility	2.74	2.12	+0.62
Sortino ratio: Return per unit of downside risk	7.16	2.86	+4.31
Omega ratio: Gain probability vs. loss probability	2.43	1.38	+1.05
Calmar ratio: Return relative to maximum drawdown	9.35	2.97	+6.38
Martin ratio: Return relative to average drawdown	33.19	13.11	+20.07

HOBEX vs. FDFIX - Sharpe Ratio Comparison

The current HOBEX Sharpe Ratio is 2.74, which is comparable to the FDFIX Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of HOBEX and FDFIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HOBEX vs. FDFIX - Drawdown Comparison

The maximum HOBEX drawdown since its inception was -23.58%, smaller than the maximum FDFIX drawdown of -33.77%. Use the drawdown chart below to compare losses from any high point for HOBEX and FDFIX.

Drawdown Indicators

	HOBEX	FDFIX	Difference
Max Drawdown Largest peak-to-trough decline	-23.58%	-33.77%	+10.19%
Max Drawdown (1Y) Largest decline over 1 year	-0.61%	-8.99%	+8.38%
Max Drawdown (3Y) Largest decline over 3 years	-2.74%	-18.76%	+16.02%
Max Drawdown (5Y) Largest decline over 5 years	-4.57%	-24.51%	+19.94%
Current Drawdown Current decline from peak	-0.20%	-1.33%	+1.13%
Average Drawdown Average peak-to-trough decline	-1.06%	-4.56%	+3.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.17%	2.03%	-1.86%

Volatility

HOBEX vs. FDFIX - Volatility Comparison

The current volatility for Holbrook Income Fund (HOBEX) is 0.49%, while Fidelity Flex 500 Index Fund (FDFIX) has a volatility of 4.90%. This indicates that HOBEX experiences smaller price fluctuations and is considered to be less risky than FDFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HOBEX	FDFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.49%	4.90%	-4.41%
Volatility (6M) Calculated over the trailing 6-month period	1.54%	10.00%	-8.46%
Volatility (1Y) Calculated over the trailing 1-year period	2.07%	12.61%	-10.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.61%	17.05%	-14.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.71%	18.60%	-12.89%

HOBEX vs. FDFIX - Expense Ratio Comparison

HOBEX has a 1.60% expense ratio, which is higher than FDFIX's 0.00% expense ratio.

Dividends

HOBEX vs. FDFIX - Dividend Comparison

HOBEX's dividend yield for the trailing twelve months is around 5.81%, more than FDFIX's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDFIX Fidelity Flex 500 Index Fund	1.04%	1.11%	1.26%	1.48%	1.70%	1.27%	1.52%	1.78%	2.16%	0.50%
HOBEX Holbrook Income Fund	5.81%	5.94%	6.58%	5.05%	4.83%	4.00%	5.44%	3.05%	3.84%	1.69%

Frequently Asked Questions

Can I hold both HOBEX and FDFIX in my portfolio?

HOBEX and FDFIX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HOBEX or FDFIX?

FDFIX has higher volatility (4.90%) compared to HOBEX (0.49%). In terms of maximum drawdown, HOBEX dropped -23.58% vs FDFIX's -33.77%.

Which has better risk-adjusted returns?

HOBEX currently has the higher Sharpe Ratio (2.74 vs 2.12), 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.