HYSA vs. FHQFX
HYSA (Bondbloxx USD High Yield Bond Sector Rotation ETF) and FHQFX (Fidelity Series Treasury Bill Index Fund) are both funds - HYSA is a High Yield Bonds fund actively managed by BondBloxx, while FHQFX is a Ultrashort Bond fund managed by Fidelity. Over the past year, HYSA returned 5.75% vs 4.08% for FHQFX. At a 0.04 correlation, their price movements are largely independent. HYSA charges 0.55%/yr vs 0.00%/yr for FHQFX.
Performance
HYSA vs. FHQFX - Performance Comparison
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Returns By Period
In the year-to-date period, HYSA achieves a 1.54% return, which is significantly higher than FHQFX's 1.41% return.
HYSA
- 1D
- -0.13%
- 1M
- 0.73%
- YTD
- 1.54%
- 6M
- 1.67%
- 1Y
- 5.75%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FHQFX
- 1D
- 0.00%
- 1M
- 0.31%
- YTD
- 1.41%
- 6M
- 1.74%
- 1Y
- 4.08%
- 3Y*
- 4.64%
- 5Y*
- 3.04%
- 10Y*
- —
HYSA vs. FHQFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HYSA Bondbloxx USD High Yield Bond Sector Rotation ETF | 1.54% | 8.37% | 6.71% | 5.95% |
FHQFX Fidelity Series Treasury Bill Index Fund | 1.41% | 4.37% | 5.56% | 1.17% |
Correlation
The correlation between HYSA and FHQFX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2023 | 0.04 |
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Return for Risk
HYSA vs. FHQFX — Risk / Return Rank
HYSA
FHQFX
HYSA vs. FHQFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bondbloxx USD High Yield Bond Sector Rotation ETF (HYSA) and Fidelity Series Treasury Bill Index Fund (FHQFX). 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.
| HYSA | FHQFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.45 | ||
| Sortino ratioReturn per unit of downside risk | -26.78 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 20.94 | -19.72 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 41.79 | -39.95 |
| Martin ratioReturn relative to average drawdown | 7.35 | 119.47 | -112.11 |
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Drawdowns
HYSA vs. FHQFX - Drawdown Comparison
The maximum HYSA drawdown since its inception was -4.90%, which is greater than FHQFX's maximum drawdown of -0.70%. Use the drawdown chart below to compare losses from any high point for HYSA and FHQFX.
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Drawdown Indicators
| HYSA | FHQFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.90% | -0.70% | -4.20% |
Max Drawdown (1Y)Largest decline over 1 year | -3.15% | -0.10% | -3.05% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.70% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.70% | — |
Current DrawdownCurrent decline from peak | -0.33% | 0.00% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -0.67% | -0.08% | -0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.03% | +0.75% |
Volatility
HYSA vs. FHQFX - Volatility Comparison
Bondbloxx USD High Yield Bond Sector Rotation ETF (HYSA) has a higher volatility of 1.12% compared to Fidelity Series Treasury Bill Index Fund (FHQFX) at 0.31%. This indicates that HYSA's price experiences larger fluctuations and is considered to be riskier than FHQFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYSA | FHQFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 0.31% | +0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 3.56% | 0.74% | +2.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.70% | 1.14% | +3.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 1.26% | +4.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.03% | 1.18% | +4.85% |
HYSA vs. FHQFX - Expense Ratio Comparison
HYSA has a 0.55% expense ratio, which is higher than FHQFX's 0.00% expense ratio.
Dividends
HYSA vs. FHQFX - Dividend Comparison
HYSA's dividend yield for the trailing twelve months is around 6.74%, more than FHQFX's 3.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FHQFX Fidelity Series Treasury Bill Index Fund | 3.89% | 4.16% | 5.09% | 4.67% | 0.00% | 0.01% | 0.06% |
HYSA Bondbloxx USD High Yield Bond Sector Rotation ETF | 6.74% | 6.70% | 6.99% | 2.65% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYSA and FHQFX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYSA has higher volatility (1.12%) compared to FHQFX (0.31%). In terms of maximum drawdown, HYSA dropped -4.90% vs FHQFX's -0.70%.
FHQFX currently has the higher Sharpe Ratio (3.68 vs 1.23), 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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