HYGH vs. FBNDX
Compare and contrast key facts about iShares Interest Rate Hedged High Yield Bond ETF (HYGH) and Fidelity Investment Grade Bond Fund (FBNDX).
HYGH is an actively managed fund by iShares. It was launched on May 27, 2014. FBNDX is managed by Fidelity. It was launched on Aug 6, 1971.
Performance
HYGH vs. FBNDX - Performance Comparison
Loading graphics...
HYGH vs. FBNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 0.64% | 6.94% | 11.22% | 12.17% | -0.92% | 5.82% | 0.54% | 11.09% | -0.85% | 6.38% |
FBNDX Fidelity Investment Grade Bond Fund | -0.36% | 7.37% | 0.93% | 6.51% | -14.04% | -1.13% | 9.79% | 9.82% | -0.35% | 3.92% |
Returns By Period
In the year-to-date period, HYGH achieves a 0.64% return, which is significantly higher than FBNDX's -0.36% return. Over the past 10 years, HYGH has outperformed FBNDX with an annualized return of 6.47%, while FBNDX has yielded a comparatively lower 2.22% annualized return.
HYGH
- 1D
- 0.28%
- 1M
- 0.25%
- YTD
- 0.64%
- 6M
- 2.16%
- 1Y
- 7.68%
- 3Y*
- 9.43%
- 5Y*
- 6.55%
- 10Y*
- 6.47%
FBNDX
- 1D
- 0.14%
- 1M
- -1.76%
- YTD
- -0.36%
- 6M
- 0.36%
- 1Y
- 3.63%
- 3Y*
- 3.61%
- 5Y*
- 0.18%
- 10Y*
- 2.22%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
HYGH vs. FBNDX - Expense Ratio Comparison
HYGH has a 0.53% expense ratio, which is higher than FBNDX's 0.45% expense ratio.
Return for Risk
HYGH vs. FBNDX — Risk / Return Rank
HYGH
FBNDX
HYGH vs. FBNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Interest Rate Hedged High Yield Bond ETF (HYGH) and Fidelity Investment Grade Bond Fund (FBNDX). 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.
| HYGH | FBNDX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.08 | 0.86 | +0.23 |
Sortino ratioReturn per unit of downside risk | 1.39 | 1.24 | +0.15 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.15 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 1.18 | 1.58 | -0.39 |
Martin ratioReturn relative to average drawdown | 8.73 | 4.56 | +4.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| HYGH | FBNDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.08 | 0.86 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | 0.03 | +0.90 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | 0.45 | +0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.53 | +0.01 |
Correlation
The correlation between HYGH and FBNDX is -0.08. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
HYGH vs. FBNDX - Dividend Comparison
HYGH's dividend yield for the trailing twelve months is around 6.77%, more than FBNDX's 3.58% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 6.77% | 6.86% | 7.85% | 8.95% | 6.21% | 3.74% | 4.06% | 4.89% | 6.45% | 4.79% | 4.60% | 5.75% |
FBNDX Fidelity Investment Grade Bond Fund | 3.58% | 3.87% | 3.34% | 3.56% | 1.98% | 1.34% | 4.70% | 2.75% | 2.86% | 2.18% | 2.72% | 2.66% |
Drawdowns
HYGH vs. FBNDX - Drawdown Comparison
The maximum HYGH drawdown since its inception was -23.88%, smaller than the maximum FBNDX drawdown of -42.76%. Use the drawdown chart below to compare losses from any high point for HYGH and FBNDX.
Loading graphics...
Drawdown Indicators
| HYGH | FBNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.88% | -42.76% | +18.88% |
Max Drawdown (1Y)Largest decline over 1 year | -6.61% | -2.88% | -3.73% |
Max Drawdown (5Y)Largest decline over 5 years | -8.24% | -18.74% | +10.50% |
Max Drawdown (10Y)Largest decline over 10 years | -23.88% | -18.74% | -5.14% |
Current DrawdownCurrent decline from peak | -0.38% | -2.31% | +1.93% |
Average DrawdownAverage peak-to-trough decline | -2.26% | -10.37% | +8.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 1.00% | -0.10% |
Volatility
HYGH vs. FBNDX - Volatility Comparison
iShares Interest Rate Hedged High Yield Bond ETF (HYGH) has a higher volatility of 1.85% compared to Fidelity Investment Grade Bond Fund (FBNDX) at 1.62%. This indicates that HYGH's price experiences larger fluctuations and is considered to be riskier than FBNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| HYGH | FBNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.85% | 1.62% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.97% | 2.74% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.11% | 4.62% | +2.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.06% | 6.00% | +1.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.39% | 5.00% | +3.39% |