HYDB vs. FAGIX
HYDB (iShares High Yield Bond Factor ETF) and FAGIX (Fidelity Capital & Income Fund) are both High Yield Bonds funds. HYDB is passively managed, while FAGIX is actively managed. Over the past 5 years, HYDB returned 4.57%/yr vs 6.79%/yr for FAGIX. A 0.68 correlation means they provide meaningful diversification when combined. HYDB charges 0.35%/yr vs 0.67%/yr for FAGIX.
Performance
HYDB vs. FAGIX - Performance Comparison
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Returns By Period
In the year-to-date period, HYDB achieves a 1.01% return, which is significantly lower than FAGIX's 6.93% return.
HYDB
- 1D
- 0.04%
- 1M
- -0.30%
- YTD
- 1.01%
- 6M
- 1.80%
- 1Y
- 6.90%
- 3Y*
- 8.94%
- 5Y*
- 4.57%
- 10Y*
- —
FAGIX
- 1D
- -1.47%
- 1M
- 0.16%
- YTD
- 6.93%
- 6M
- 7.48%
- 1Y
- 16.45%
- 3Y*
- 12.79%
- 5Y*
- 6.79%
- 10Y*
- 7.88%
HYDB vs. FAGIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYDB iShares High Yield Bond Factor ETF | 1.01% | 8.10% | 9.11% | 14.02% | -9.99% | 5.14% | 7.39% | 16.13% | -3.18% | 3.38% |
FAGIX Fidelity Capital & Income Fund | 6.93% | 12.38% | 10.69% | 13.02% | -11.50% | 11.13% | 9.95% | 18.96% | -7.17% | 4.30% |
Correlation
The correlation between HYDB and FAGIX is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2017 | 0.68 |
The correlation between HYDB and FAGIX has been stable across timeframes, ranging from 0.67 to 0.71 - a consistent structural relationship.
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Return for Risk
HYDB vs. FAGIX — Risk / Return Rank
HYDB
FAGIX
HYDB vs. FAGIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Bond Factor ETF (HYDB) and Fidelity Capital & Income Fund (FAGIX). 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.
| HYDB | FAGIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.53 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 4.80 | -2.35 |
| Martin ratioReturn relative to average drawdown | 10.80 | 20.14 | -9.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HYDB | FAGIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.82 | 2.68 | -0.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 1.03 | -0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.01 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.87 | -0.17 |
Drawdowns
HYDB vs. FAGIX - Drawdown Comparison
The maximum HYDB drawdown since its inception was -21.58%, smaller than the maximum FAGIX drawdown of -37.97%. Use the drawdown chart below to compare losses from any high point for HYDB and FAGIX.
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Drawdown Indicators
| HYDB | FAGIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.58% | -37.97% | +16.39% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -3.49% | +0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -5.58% | -7.26% | +1.68% |
Max Drawdown (5Y)Largest decline over 5 years | -14.28% | -15.42% | +1.14% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.45% | — |
Current DrawdownCurrent decline from peak | -0.51% | -1.47% | +0.96% |
Average DrawdownAverage peak-to-trough decline | -2.39% | -6.98% | +4.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 0.83% | -0.19% |
Volatility
HYDB vs. FAGIX - Volatility Comparison
The current volatility for iShares High Yield Bond Factor ETF (HYDB) is 1.09%, while Fidelity Capital & Income Fund (FAGIX) has a volatility of 2.35%. This indicates that HYDB experiences smaller price fluctuations and is considered to be less risky than FAGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYDB | FAGIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 2.35% | -1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 5.09% | -2.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.81% | 6.25% | -2.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.04% | 6.62% | +0.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.76% | 7.83% | -0.07% |
HYDB vs. FAGIX - Expense Ratio Comparison
HYDB has a 0.35% expense ratio, which is lower than FAGIX's 0.67% expense ratio.
Dividends
HYDB vs. FAGIX - Dividend Comparison
HYDB's dividend yield for the trailing twelve months is around 7.02%, more than FAGIX's 4.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAGIX Fidelity Capital & Income Fund | 4.49% | 4.74% | 5.02% | 5.28% | 10.25% | 6.08% | 4.59% | 5.00% | 5.67% | 5.05% | 4.57% | 4.51% |
HYDB iShares High Yield Bond Factor ETF | 7.02% | 7.04% | 6.95% | 7.00% | 6.30% | 4.70% | 5.81% | 5.68% | 6.16% | 2.70% | 0.00% | 0.00% |
Frequently Asked Questions
HYDB and FAGIX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAGIX has higher volatility (2.35%) compared to HYDB (1.09%). In terms of maximum drawdown, HYDB dropped -21.58% vs FAGIX's -37.97%.
FAGIX currently has the higher Sharpe Ratio (2.68 vs 1.82), 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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