NFJ vs. FFRHX

Last updated Aug 1, 2026

NFJ (Virtus Dividend, Interest and Premium Strategy Fund) and FFRHX (Fidelity Floating Rate High Income Fund) are both mutual funds - NFJ is a Dividend fund managed by Virtus, while FFRHX is a Bank Loan fund actively managed by Fidelity. Over the past 10 years, NFJ returned 10.62%/yr vs 4.82%/yr for FFRHX. Their 0.27 correlation means their historical movements had little consistent relationship. NFJ charges 0.02%/yr vs 0.67%/yr for FFRHX.

Performance

NFJ vs. FFRHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Dividend, Interest and Premium Strategy Fund (NFJ) and Fidelity Floating Rate High Income Fund (FFRHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NFJ achieves a 23.46% return, which is significantly higher than FFRHX's 2.14% return. Over the past 10 years, NFJ has outperformed FFRHX with an annualized return of 10.62%, while FFRHX has yielded a comparatively lower 4.82% annualized return.

NFJ

• 1D: 0.40%
• 1M: -0.26%
• 6M: 18.06%
• YTD: 23.46%
• 1Y: 33.60%
• 3Y*: 16.13%
• 5Y*: 8.89%
• 10Y*: 10.62%
• ALL TIME*: 6.57%

FFRHX

• 1D: 0.00%
• 1M: 0.11%
• 6M: 2.01%
• YTD: 2.14%
• 1Y: 4.94%
• 3Y*: 6.51%
• 5Y*: 5.49%
• 10Y*: 4.82%
• ALL TIME*: 3.90%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FFRHX Fidelity Floating Rate High Income Fund	$0.00	$0.00	$0.00
NFJ Virtus Dividend, Interest and Premium Strategy Fund	$3.68M	$3.69M	$2.79M

NFJ vs. FFRHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NFJ Virtus Dividend, Interest and Premium Strategy Fund	23.46%	12.40%	9.96%	21.30%	-23.90%	26.75%	12.42%	30.88%	-11.97%	12.74%
FFRHX Fidelity Floating Rate High Income Fund	2.14%	5.47%	7.10%	12.63%	-1.55%	5.01%	1.69%	8.63%	0.10%	3.91%

Correlation

The correlation between NFJ and FFRHX is 0.23, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.23
Correlation (3Y) Balances recent behavior with more history.	0.31
Correlation (5Y) Shows whether the relationship held over a longer period.	0.35
Correlation (10Y) Provides a long-term view across more market conditions.	0.32
Correlation (All Time) Calculated using the full available price history since Mar 1, 2005	0.27

The correlation between NFJ and FFRHX shifts across timeframes, from 0.23 (1 year) to 0.35 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

NFJ vs. FFRHX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NFJ

NFJ Risk / Return Rank: 90
NFJ Sharpe Ratio Rank: 92
NFJ Sortino Ratio Rank: 90
NFJ Omega Ratio Rank: 85
NFJ Calmar Ratio Rank: 92
NFJ Martin Ratio Rank: 90

FFRHX

FFRHX Risk / Return Rank: 95
FFRHX Sharpe Ratio Rank: 91
FFRHX Sortino Ratio Rank: 98
FFRHX Omega Ratio Rank: 98
FFRHX Calmar Ratio Rank: 96
FFRHX Martin Ratio Rank: 94

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NFJ vs. FFRHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Dividend, Interest and Premium Strategy Fund (NFJ) 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.

	NFJ	FFRHX	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.30	+0.07
Sortino ratio: Return per unit of downside risk	3.42	5.37	-1.94
Omega ratio: Gain probability vs. loss probability	1.42	1.81	-0.39
Calmar ratio: Return relative to maximum drawdown	3.70	4.51	-0.80
Martin ratio: Return relative to average drawdown	12.64	14.73	-2.09

NFJ vs. FFRHX - Sharpe Ratio Comparison

The current NFJ Sharpe Ratio is 2.37, which is comparable to the FFRHX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of NFJ 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.

Drawdowns

NFJ vs. FFRHX - Drawdown Comparison

The maximum NFJ drawdown since its inception was -57.92%, which is greater than FFRHX's maximum drawdown of -22.20%. Use the drawdown chart below to compare losses from any high point for NFJ and FFRHX.

Drawdown Indicators

	NFJ	FFRHX	Difference
Max Drawdown Largest peak-to-trough decline	-57.92%	-22.20%	-35.72%
Max Drawdown (1Y) Largest decline over 1 year	-8.57%	-1.19%	-7.38%
Max Drawdown (3Y) Largest decline over 3 years	-17.04%	-3.29%	-13.75%
Max Drawdown (5Y) Largest decline over 5 years	-30.57%	-5.90%	-24.67%
Max Drawdown (10Y) Largest decline over 10 years	-40.96%	-22.20%	-18.76%
Current Drawdown Current decline from peak	-0.33%	-0.11%	-0.22%
Average Drawdown Average peak-to-trough decline	-10.72%	-1.14%	-9.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	0.36%	+2.15%

Volatility

NFJ vs. FFRHX - Volatility Comparison

Virtus Dividend, Interest and Premium Strategy Fund (NFJ) has a higher volatility of 2.77% compared to Fidelity Floating Rate High Income Fund (FFRHX) at 0.22%. This indicates that NFJ'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.

Volatility by Period

	NFJ	FFRHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.77%	0.22%	+2.55%
Volatility (6M) Calculated over the trailing 6-month period	10.71%	1.69%	+9.02%
Volatility (1Y) Calculated over the trailing 1-year period	13.41%	2.34%	+11.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.19%	2.89%	+14.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.68%	4.13%	+14.55%

NFJ vs. FFRHX - Expense Ratio Comparison

NFJ has a 0.02% expense ratio, which is lower than FFRHX's 0.67% expense ratio.

Dividends

NFJ vs. FFRHX - Dividend Comparison

NFJ's dividend yield for the trailing twelve months is around 8.02%, more than FFRHX's 6.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFRHX Fidelity Floating Rate High Income Fund	6.39%	7.41%	6.94%	8.24%	3.81%	2.74%	3.84%	5.15%	4.74%	4.05%	4.44%	3.69%
NFJ Virtus Dividend, Interest and Premium Strategy Fund	8.02%	9.46%	9.26%	7.78%	8.83%	5.60%	6.69%	6.92%	8.43%	8.62%	9.52%	13.32%

Frequently Asked Questions

Can I hold both NFJ and FFRHX in my portfolio?

NFJ and FFRHX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NFJ or FFRHX?

NFJ has higher volatility (2.77%) compared to FFRHX (0.22%). In terms of maximum drawdown, NFJ dropped -57.92% vs FFRHX's -22.20%.

Which has better risk-adjusted returns?

NFJ currently has the higher Sharpe Ratio (2.37 vs 2.30), 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.