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IBHH vs. FFRHX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IBHH vs. FFRHX

Last updated Jun 16, 2026

IBHH (iShares iBonds 2028 Term High Yield and Income ETF) and FFRHX (Fidelity Floating Rate High Income Fund) are both funds - IBHH is a High Yield Bonds fund tracking the Bloomberg 2028 Term High Yield and Income Index - Benchmark TR Gross, while FFRHX is a Bank Loan fund actively managed by Fidelity. IBHH is passively managed, while FFRHX is actively managed. Over the past 3 years, IBHH returned 8.38%/yr vs 7.24%/yr for FFRHX. At a 0.27 correlation, their price movements are largely independent. IBHH charges 0.35%/yr vs 0.67%/yr for FFRHX.

Performance

IBHH vs. FFRHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds 2028 Term High Yield and Income ETF (IBHH) and Fidelity Floating Rate High Income Fund (FFRHX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with IBHH having a 1.76% return and FFRHX slightly lower at 1.71%.

IBHH

1D
0.11%
1M
0.57%
YTD
1.76%
6M
2.27%
1Y
6.48%
3Y*
8.38%
5Y*
—
10Y*
—

FFRHX

1D
0.11%
1M
0.11%
YTD
1.71%
6M
2.09%
1Y
6.01%
3Y*
7.24%
5Y*
5.38%
10Y*
4.93%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IBHH vs. FFRHX - Yearly Performance Comparison

2026 (YTD)2025202420232022
IBHH
iShares iBonds 2028 Term High Yield and Income ETF		1.76%8.02%7.53%12.87%-6.70%
FFRHX
Fidelity Floating Rate High Income Fund		1.71%5.47%7.10%12.63%-0.44%

Correlation

The correlation between IBHH and FFRHX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.19

Correlation (3Y)
Calculated over the trailing 3-year period

0.19

Correlation (All Time)
Calculated using the full available price history since Mar 10, 2022

0.27

Compare stocks, funds, or ETFs

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iShares iBonds 2028 Term High Yield and Income ETF

Fidelity Floating Rate High Income Fund

Often compared with IBHH:
IBHH vs. IBHIIBHH vs. BSJSIBHH vs. BSJPIBHH vs. IBHEIBHH vs. FBNDIBHH vs. SPHYIBHH vs. FLMI
Often compared with FFRHX:
FFRHX vs. PRFRXFFRHX vs. FAGIXFFRHX vs. SCHPFFRHX vs. FTBFXFFRHX vs. FADMXFFRHX vs. FFRIXFFRHX vs. FFRAX

Return for Risk

IBHH vs. FFRHX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IBHH
IBHH Risk / Return Rank: 8585
Overall Rank
IBHH Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
IBHH Sortino Ratio Rank: 8585
Sortino Ratio Rank
IBHH Omega Ratio Rank: 8181
Omega Ratio Rank
IBHH Calmar Ratio Rank: 9191
Calmar Ratio Rank
IBHH Martin Ratio Rank: 9292
Martin Ratio Rank
FFRHX
FFRHX Risk / Return Rank: 9494
Overall Rank
FFRHX Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
FFRHX Sortino Ratio Rank: 9898
Sortino Ratio Rank
FFRHX Omega Ratio Rank: 9797
Omega Ratio Rank
FFRHX Calmar Ratio Rank: 9494
Calmar Ratio Rank
FFRHX Martin Ratio Rank: 9393
Martin Ratio Rank
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.

IBHH vs. FFRHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2028 Term High Yield and Income ETF (IBHH) and Fidelity Floating Rate High Income Fund (FFRHX). 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.

IBHHFFRHXDifference
Sharpe ratioReturn per unit of total volatility
2.31
2.50

-0.20

Sortino ratioReturn per unit of downside risk
3.50
5.94

-2.44

Omega ratioGain probability vs. loss probability

1.45

1.87

-0.43

Calmar ratioReturn relative to maximum drawdown

5.32

4.97

+0.35

Martin ratioReturn relative to average drawdown

21.24

17.32

+3.93

IBHH vs. FFRHX - Sharpe Ratio Comparison

The current IBHH Sharpe Ratio is 2.31, which is comparable to the FFRHX Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of IBHH and FFRHX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IBHH vs. FFRHX - Drawdown Comparison

The maximum IBHH drawdown since its inception was -12.05%, smaller than the maximum FFRHX drawdown of -22.20%. Use the drawdown chart below to compare losses from any high point for IBHH and FFRHX.

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Drawdown Indicators

IBHHFFRHXDifference

Max Drawdown

Largest peak-to-trough decline

-12.05%

-22.20%

+10.15%

Max Drawdown (1Y)

Largest decline over 1 year

-1.22%

-1.19%

-0.03%

Max Drawdown (3Y)

Largest decline over 3 years

-4.66%

-3.29%

-1.37%

Max Drawdown (5Y)

Largest decline over 5 years

—

-5.90%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-22.20%

—

Current Drawdown

Current decline from peak

-0.04%

-0.44%

+0.40%

Average Drawdown

Average peak-to-trough decline

-2.28%

-1.15%

-1.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.31%

0.34%

-0.03%

Volatility

IBHH vs. FFRHX - Volatility Comparison

iShares iBonds 2028 Term High Yield and Income ETF (IBHH) has a higher volatility of 0.70% compared to Fidelity Floating Rate High Income Fund (FFRHX) at 0.65%. This indicates that IBHH's price experiences larger fluctuations and is considered to be riskier than FFRHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IBHHFFRHXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.70%

0.65%

+0.05%

Volatility (6M)

Calculated over the trailing 6-month period

2.10%

1.64%

+0.46%

Volatility (1Y)

Calculated over the trailing 1-year period

2.83%

2.37%

+0.46%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.23%

2.88%

+4.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.23%

4.14%

+3.09%

IBHH vs. FFRHX - Expense Ratio Comparison

IBHH has a 0.35% expense ratio, which is lower than FFRHX's 0.67% expense ratio.

Dividends

IBHH vs. FFRHX - Dividend Comparison

IBHH's dividend yield for the trailing twelve months is around 6.26%, less than FFRHX's 7.09% yield.

PositionTTM20252024202320222021202020192018201720162015
FFRHX
Fidelity Floating Rate High Income Fund		7.09%7.41%6.94%8.24%3.81%2.74%3.84%5.15%4.74%4.05%4.44%3.69%
IBHH
iShares iBonds 2028 Term High Yield and Income ETF		6.26%6.39%6.93%6.65%5.36%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IBHH and FFRHX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IBHH has higher volatility (0.70%) compared to FFRHX (0.65%). In terms of maximum drawdown, IBHH dropped -12.05% vs FFRHX's -22.20%.

FFRHX currently has the higher Sharpe Ratio (2.50 vs 2.31), 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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