HYXF vs. FDHY
HYXF (iShares ESG Advanced High Yield Corporate Bond ETF) and FDHY (Fidelity Enhanced High Yield ETF) are both High Yield Bonds funds. HYXF is passively managed, while FDHY is actively managed. Over the past 5 years, HYXF returned 3.42%/yr vs 3.74%/yr for FDHY. Their 0.77 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.35% expense ratio.
Performance
HYXF vs. FDHY - Performance Comparison
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Returns By Period
In the year-to-date period, HYXF achieves a 1.08% return, which is significantly lower than FDHY's 2.61% return.
HYXF
- 1D
- -0.15%
- 1M
- -0.35%
- 6M
- 0.82%
- YTD
- 1.08%
- 1Y
- 4.47%
- 3Y*
- 8.17%
- 5Y*
- 3.42%
- 10Y*
- 4.78%
- ALL TIME*
- 5.04%
FDHY
- 1D
- 0.06%
- 1M
- -0.17%
- 6M
- 1.67%
- YTD
- 2.61%
- 1Y
- 6.85%
- 3Y*
- 8.43%
- 5Y*
- 3.74%
- 10Y*
- —
- ALL TIME*
- 5.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.94M | $4.42M | $4.10M | |
| $633.04K | $1.36M | $996.57K |
HYXF vs. FDHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 1.08% | 8.88% | 8.35% | 11.87% | -11.90% | 2.60% | 6.07% | 14.87% | -1.38% |
FDHY Fidelity Enhanced High Yield ETF | 2.61% | 9.24% | 7.53% | 11.14% | -11.30% | 4.33% | 10.71% | 16.87% | -2.35% |
Correlation
The correlation between HYXF and FDHY is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.79 |
Correlation (3Y) Balances recent behavior with more history. | 0.76 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2018 | 0.77 |
The correlation between HYXF and FDHY has been stable across timeframes, ranging from 0.76 to 0.84 - a consistent structural relationship.
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Return for Risk
HYXF vs. FDHY — Risk / Return Rank
HYXF
FDHY
HYXF vs. FDHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced High Yield Corporate Bond ETF (HYXF) and Fidelity Enhanced High Yield ETF (FDHY). 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.
| HYXF | FDHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.38 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 3.22 | -1.50 |
| Martin ratioReturn relative to average drawdown | 7.62 | 13.30 | -5.68 |
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Drawdowns
HYXF vs. FDHY - Drawdown Comparison
The maximum HYXF drawdown since its inception was -18.75%, smaller than the maximum FDHY drawdown of -20.01%. Use the drawdown chart below to compare losses from any high point for HYXF and FDHY.
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Drawdown Indicators
| HYXF | FDHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.75% | -20.01% | +1.26% |
Max Drawdown (1Y)Largest decline over 1 year | -2.57% | -2.12% | -0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -4.81% | -5.26% | +0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -16.00% | -16.38% | +0.38% |
Max Drawdown (10Y)Largest decline over 10 years | -18.75% | — | — |
Current DrawdownCurrent decline from peak | -0.53% | -0.36% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -2.82% | +0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.51% | +0.07% |
Volatility
HYXF vs. FDHY - Volatility Comparison
The current volatility for iShares ESG Advanced High Yield Corporate Bond ETF (HYXF) is 0.70%, while Fidelity Enhanced High Yield ETF (FDHY) has a volatility of 0.81%. This indicates that HYXF experiences smaller price fluctuations and is considered to be less risky than FDHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYXF | FDHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 0.81% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 3.07% | 2.84% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.79% | 3.59% | +0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.05% | 7.13% | +0.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.26% | 7.98% | +0.28% |
HYXF vs. FDHY - Expense Ratio Comparison
Both HYXF and FDHY have an expense ratio of 0.35%.
Dividends
HYXF vs. FDHY - Dividend Comparison
HYXF's dividend yield for the trailing twelve months is around 6.07%, less than FDHY's 6.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FDHY Fidelity Enhanced High Yield ETF | 6.54% | 6.56% | 6.58% | 6.26% | 5.34% | 6.09% | 5.78% | 4.94% | 2.55% | 0.00% | 0.00% |
HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 5.54% | 6.19% | 6.40% | 5.93% | 5.37% | 4.56% | 4.96% | 5.29% | 6.14% | 5.85% | 3.16% |
Frequently Asked Questions
HYXF and FDHY have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FDHY has higher volatility (0.81%) compared to HYXF (0.70%). In terms of maximum drawdown, HYXF dropped -18.75% vs FDHY's -20.01%.
On 5-year performance, FDHY leads with 3.74% vs 3.42% for HYXF. Both ETFs have the same 0.35% expense ratio. On volatility, HYXF has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FDHY has performed better with a 3.74% return vs 3.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYXF and FDHY have the same expense ratio: 0.35% per year.
FDHY has the higher dividend yield at 6.54%, compared with 5.54% for HYXF.
They also come from different issuers: iShares and Fidelity.
FDHY currently has the higher Sharpe Ratio (1.90 vs 1.17), 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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