IBHI vs. FFRHX
IBHI (iShares iBonds 2029 Term High Yield and Income ETF) and FFRHX (Fidelity Floating Rate High Income Fund) are both funds - IBHI is a High Yield Bonds fund tracking the Bloomberg 2029 Term High Yield and Income Index - Benchmark TR Gross, while FFRHX is a Bank Loan fund actively managed by Fidelity. IBHI is passively managed, while FFRHX is actively managed. Over the past 3 years, IBHI returned 8.77%/yr vs 7.24%/yr for FFRHX. At a 0.30 correlation, their price movements are largely independent. IBHI charges 0.35%/yr vs 0.67%/yr for FFRHX.
Performance
IBHI vs. FFRHX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IBHI having a 1.69% return and FFRHX slightly higher at 1.71%.
IBHI
- 1D
- 0.21%
- 1M
- 0.88%
- YTD
- 1.69%
- 6M
- 2.26%
- 1Y
- 7.17%
- 3Y*
- 8.77%
- 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%
IBHI vs. FFRHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IBHI iShares iBonds 2029 Term High Yield and Income ETF | 1.69% | 7.88% | 8.33% | 14.21% | -8.52% |
FFRHX Fidelity Floating Rate High Income Fund | 1.71% | 5.47% | 7.10% | 12.63% | -0.44% |
Correlation
The correlation between IBHI 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 | 0.22 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2022 | 0.30 |
The correlation between IBHI and FFRHX shifts across timeframes, from 0.19 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBHI vs. FFRHX — Risk / Return Rank
IBHI
FFRHX
IBHI vs. FFRHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2029 Term High Yield and Income ETF (IBHI) 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.
| IBHI | FFRHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -3.04 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.87 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | 4.97 | -1.55 |
| Martin ratioReturn relative to average drawdown | 14.91 | 17.32 | -2.40 |
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Drawdowns
IBHI vs. FFRHX - Drawdown Comparison
The maximum IBHI drawdown since its inception was -13.65%, smaller than the maximum FFRHX drawdown of -22.20%. Use the drawdown chart below to compare losses from any high point for IBHI and FFRHX.
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Drawdown Indicators
| IBHI | FFRHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.65% | -22.20% | +8.55% |
Max Drawdown (1Y)Largest decline over 1 year | -2.11% | -1.19% | -0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -5.73% | -3.29% | -2.44% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.90% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.20% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.44% | +0.44% |
Average DrawdownAverage peak-to-trough decline | -2.82% | -1.15% | -1.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 0.34% | +0.14% |
Volatility
IBHI vs. FFRHX - Volatility Comparison
iShares iBonds 2029 Term High Yield and Income ETF (IBHI) has a higher volatility of 0.97% compared to Fidelity Floating Rate High Income Fund (FFRHX) at 0.65%. This indicates that IBHI'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
| IBHI | FFRHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 0.65% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.80% | 1.64% | +1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 2.37% | +1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.95% | 2.88% | +5.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.95% | 4.14% | +3.81% |
IBHI vs. FFRHX - Expense Ratio Comparison
IBHI has a 0.35% expense ratio, which is lower than FFRHX's 0.67% expense ratio.
Dividends
IBHI vs. FFRHX - Dividend Comparison
IBHI's dividend yield for the trailing twelve months is around 6.68%, less than FFRHX's 7.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IBHI iShares iBonds 2029 Term High Yield and Income ETF | 6.68% | 6.79% | 6.66% | 6.48% | 5.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBHI 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.
IBHI has higher volatility (0.97%) compared to FFRHX (0.65%). In terms of maximum drawdown, IBHI dropped -13.65% vs FFRHX's -22.20%.
FFRHX currently has the higher Sharpe Ratio (2.50 vs 1.89), 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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