IBHK vs. FSYD

Last updated Jun 3, 2026

IBHK (iShares iBonds 2031 Term High Yield and Income ETF) and FSYD (Fidelity Sustainable High Yield ETF) are both High Yield Bonds funds. IBHK is passively managed, while FSYD is actively managed. Over the past year, IBHK returned 7.64% vs 10.19% for FSYD. Their correlation of 0.86 suggests significant overlap in exposure. IBHK charges 0.35%/yr vs 0.55%/yr for FSYD.

Performance

IBHK vs. FSYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds 2031 Term High Yield and Income ETF (IBHK) and Fidelity Sustainable High Yield ETF (FSYD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBHK achieves a 1.99% return, which is significantly lower than FSYD's 3.35% return.

IBHK

• 1D: 0.04%
• 1M: 0.41%
• YTD: 1.99%
• 6M: 2.46%
• 1Y: 7.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FSYD

• 1D: -0.27%
• 1M: 0.75%
• YTD: 3.35%
• 6M: 3.97%
• 1Y: 10.19%
• 3Y*: 9.54%
• 5Y*: —
• 10Y*: —

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

IBHK vs. FSYD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBHK iShares iBonds 2031 Term High Yield and Income ETF	1.99%	9.05%	5.05%
FSYD Fidelity Sustainable High Yield ETF	3.35%	9.09%	6.22%

Correlation

The correlation between IBHK and FSYD is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (All Time) Calculated using the full available price history since May 28, 2024	0.86

The correlation between IBHK and FSYD has been stable across timeframes, ranging from 0.85 to 0.86 - a consistent structural relationship.

Return for Risk

IBHK vs. FSYD — Risk / Return Rank

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

IBHK

IBHK Risk / Return Rank: 59
IBHK Sharpe Ratio Rank: 54
IBHK Sortino Ratio Rank: 59
IBHK Omega Ratio Rank: 58
IBHK Calmar Ratio Rank: 56
IBHK Martin Ratio Rank: 67

FSYD

FSYD Risk / Return Rank: 79
FSYD Sharpe Ratio Rank: 75
FSYD Sortino Ratio Rank: 83
FSYD Omega Ratio Rank: 82
FSYD Calmar Ratio Rank: 76
FSYD Martin Ratio Rank: 78

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.

IBHK vs. FSYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2031 Term High Yield and Income ETF (IBHK) and Fidelity Sustainable High Yield ETF (FSYD). 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.

	IBHK	FSYD	Difference
Sharpe ratio Return per unit of total volatility	1.90	2.49	-0.59
Sortino ratio Return per unit of downside risk	2.87	3.79	-0.92
Omega ratio Gain probability vs. loss probability	1.36	1.50	-0.14
Calmar ratio Return relative to maximum drawdown	2.83	3.83	-1.00
Martin ratio Return relative to average drawdown	12.49	15.34	-2.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBHK vs. FSYD - Sharpe Ratio Comparison

The current IBHK Sharpe Ratio is 1.90, which is comparable to the FSYD Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of IBHK and FSYD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBHK	FSYD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	2.49	-0.59
Sharpe Ratio (All Time) Calculated using the full available price history	1.58	0.77	+0.81

Drawdowns

IBHK vs. FSYD - Drawdown Comparison

The maximum IBHK drawdown since its inception was -4.83%, smaller than the maximum FSYD drawdown of -12.11%. Use the drawdown chart below to compare losses from any high point for IBHK and FSYD.

Drawdown Indicators

	IBHK	FSYD	Difference
Max Drawdown Largest peak-to-trough decline	-4.83%	-12.11%	+7.28%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-2.67%	-0.15%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.49%	—
Current Drawdown Current decline from peak	-0.08%	-0.27%	+0.19%
Average Drawdown Average peak-to-trough decline	-0.49%	-2.40%	+1.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.64%	0.67%	-0.03%

Volatility

IBHK vs. FSYD - Volatility Comparison

iShares iBonds 2031 Term High Yield and Income ETF (IBHK) has a higher volatility of 1.29% compared to Fidelity Sustainable High Yield ETF (FSYD) at 1.12%. This indicates that IBHK's price experiences larger fluctuations and is considered to be riskier than FSYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBHK	FSYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.29%	1.12%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	3.18%	3.13%	+0.05%
Volatility (1Y) Calculated over the trailing 1-year period	4.05%	4.12%	-0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.12%	7.85%	-2.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.12%	7.85%	-2.73%

IBHK vs. FSYD - Expense Ratio Comparison

IBHK has a 0.35% expense ratio, which is lower than FSYD's 0.55% expense ratio.

Dividends

IBHK vs. FSYD - Dividend Comparison

IBHK's dividend yield for the trailing twelve months is around 6.46%, more than FSYD's 6.32% yield.

Position	TTM	2025	2024	2023	2022
FSYD Fidelity Sustainable High Yield ETF	6.32%	6.49%	6.47%	6.70%	5.29%
IBHK iShares iBonds 2031 Term High Yield and Income ETF	6.46%	6.52%	4.02%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBHK and FSYD in my portfolio?

IBHK and FSYD have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBHK or FSYD?

IBHK has higher volatility (1.29%) compared to FSYD (1.12%). In terms of maximum drawdown, IBHK dropped -4.83% vs FSYD's -12.11%.

Which ETF is better, IBHK or FSYD?

On 1-year performance, FSYD leads with 10.19% vs 7.64% for IBHK. On fees, IBHK is cheaper at 0.35% per year. On volatility, FSYD has been the lower-risk option at 1.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBHK or FSYD?

Over the 1-year period, FSYD has performed better with a 10.19% return vs 7.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBHK or FSYD?

IBHK is cheaper with a 0.35% expense ratio, compared with 0.55% for FSYD.

Which ETF pays a higher dividend yield, IBHK or FSYD?

IBHK has the higher dividend yield at 6.46%, compared with 6.32% for FSYD.

What is the main difference between IBHK and FSYD?

They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.35% for IBHK and 0.55% for FSYD.

Which has better risk-adjusted returns?

FSYD currently has the higher Sharpe Ratio (2.49 vs 1.90), 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.