HYKE vs. FTBD

Last updated Jun 24, 2026

HYKE (Vest 2 Year Interest Rate Hedge ETF) and FTBD (Fidelity Tactical Bond ETF) are both Nontraditional Bonds funds. Both are actively managed. HYKE charges 0.85%/yr vs 0.55%/yr for FTBD.

Performance

HYKE vs. FTBD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vest 2 Year Interest Rate Hedge ETF (HYKE) and Fidelity Tactical Bond ETF (FTBD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HYKE

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FTBD

• 1D: 0.11%
• 1M: 0.92%
• YTD: 1.43%
• 6M: 1.51%
• 1Y: 5.72%
• 3Y*: 5.20%
• 5Y*: —
• 10Y*: —

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

HYKE vs. FTBD - Yearly Performance Comparison

	2026 (YTD)
HYKE Vest 2 Year Interest Rate Hedge ETF	0.00%
FTBD Fidelity Tactical Bond ETF	2.33%

Return for Risk

HYKE vs. FTBD — Risk / Return Rank

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

HYKE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FTBD

FTBD Risk / Return Rank: 40
FTBD Sharpe Ratio Rank: 40
FTBD Sortino Ratio Rank: 41
FTBD Omega Ratio Rank: 38
FTBD Calmar Ratio Rank: 41
FTBD Martin Ratio Rank: 42

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.

HYKE vs. FTBD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vest 2 Year Interest Rate Hedge ETF (HYKE) and Fidelity Tactical Bond ETF (FTBD). 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.

	HYKE	FTBD	Difference
Sharpe ratio: Return per unit of total volatility	—	1.35	—
Sortino ratio: Return per unit of downside risk	—	2.00	—
Omega ratio: Gain probability vs. loss probability	—	1.24	—
Calmar ratio: Return relative to maximum drawdown	—	1.93	—
Martin ratio: Return relative to average drawdown	—	6.42	—

Drawdowns

HYKE vs. FTBD - Drawdown Comparison

The maximum HYKE drawdown since its inception was 0.00%, smaller than the maximum FTBD drawdown of -6.98%. Use the drawdown chart below to compare losses from any high point for HYKE and FTBD.

Drawdown Indicators

	HYKE	FTBD	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-6.98%	+6.98%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.98%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.56%	—
Current Drawdown Current decline from peak	0.00%	-0.72%	+0.72%
Average Drawdown Average peak-to-trough decline	0.00%	-1.56%	+1.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.89%	—

Volatility

Volatility by Period

	HYKE	FTBD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.09%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	4.27%	-4.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	5.84%	-5.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	5.84%	-5.84%

HYKE vs. FTBD - Expense Ratio Comparison

HYKE has a 0.85% expense ratio, which is higher than FTBD's 0.55% expense ratio.

Dividends

HYKE vs. FTBD - Dividend Comparison

HYKE has not paid dividends to shareholders, while FTBD's dividend yield for the trailing twelve months is around 5.01%.

Position	TTM	2025	2024	2023
FTBD Fidelity Tactical Bond ETF	5.01%	5.04%	4.76%	4.69%
HYKE Vest 2 Year Interest Rate Hedge ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, HYKE or FTBD?

On fees, FTBD is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYKE or FTBD?

FTBD is cheaper with a 0.55% expense ratio, compared with 0.85% for HYKE.

Which ETF pays a higher dividend yield, HYKE or FTBD?

FTBD has the higher dividend yield at 5.01%, compared with 0.00% for HYKE.

What is the main difference between HYKE and FTBD?

They also come from different issuers: Cboe Vest and Fidelity. Their fees differ too: 0.85% for HYKE and 0.55% for FTBD.