ODHY vs. FSYD

Last updated Aug 5, 2026

ODHY (Obra Defensive High Yield ETF) and FSYD (Fidelity Sustainable High Yield ETF) are both High Yield Bonds funds. Both are actively managed. Over the past year, ODHY returned 4.69% vs 8.15% for FSYD. Their correlation of 0.83 means they have usually moved in the same direction. ODHY charges 0.50%/yr vs 0.55%/yr for FSYD.

Performance

ODHY vs. FSYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Obra Defensive High Yield ETF (ODHY) 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, ODHY achieves a 1.84% return, which is significantly lower than FSYD's 3.68% return.

ODHY

• 1D: 0.30%
• 1M: 0.26%
• 6M: 1.42%
• YTD: 1.84%
• 1Y: 4.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.67%

FSYD

• 1D: 0.40%
• 1M: 0.12%
• 6M: 2.64%
• YTD: 3.68%
• 1Y: 8.15%
• 3Y*: 9.03%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.85%

*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)
FSYD Fidelity Sustainable High Yield ETF	$1.48M	$1.23M	$1.34M
ODHY Obra Defensive High Yield ETF	$329.58	$207.80	$106.18

ODHY vs. FSYD - Yearly Performance Comparison

	2026 (YTD)	2025
ODHY Obra Defensive High Yield ETF	1.84%	2.15%
FSYD Fidelity Sustainable High Yield ETF	3.68%	4.98%

Correlation

The correlation between ODHY and FSYD is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025	0.83

The correlation between ODHY and FSYD has been stable across timeframes, ranging from 0.83 to 0.86 - a consistent structural relationship.

Return for Risk

ODHY vs. FSYD — Risk / Return Rank

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

ODHY

ODHY Risk / Return Rank: 73
ODHY Sharpe Ratio Rank: 70
ODHY Sortino Ratio Rank: 77
ODHY Omega Ratio Rank: 81
ODHY Calmar Ratio Rank: 59
ODHY Martin Ratio Rank: 76

FSYD

FSYD Risk / Return Rank: 81
FSYD Sharpe Ratio Rank: 78
FSYD Sortino Ratio Rank: 84
FSYD Omega Ratio Rank: 83
FSYD Calmar Ratio Rank: 77
FSYD Martin Ratio Rank: 81

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.

ODHY vs. FSYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Obra Defensive High Yield ETF (ODHY) 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.

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.

	ODHY	FSYD	Difference
Sharpe ratio: Return per unit of total volatility	1.82	2.00	-0.17
Sortino ratio: Return per unit of downside risk	2.81	3.04	-0.23
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.01
Calmar ratio: Return relative to maximum drawdown	2.40	3.06	-0.66
Martin ratio: Return relative to average drawdown	10.93	11.97	-1.04

ODHY vs. FSYD - Sharpe Ratio Comparison

The current ODHY Sharpe Ratio is 1.82, which is comparable to the FSYD Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of ODHY 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.

Drawdowns

ODHY vs. FSYD - Drawdown Comparison

The maximum ODHY drawdown since its inception was -1.96%, smaller than the maximum FSYD drawdown of -12.11%. Use the drawdown chart below to compare losses from any high point for ODHY and FSYD.

Drawdown Indicators

	ODHY	FSYD	Difference
Max Drawdown Largest peak-to-trough decline	-1.96%	-12.11%	+10.15%
Max Drawdown (1Y) Largest decline over 1 year	-1.96%	-2.67%	+0.71%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.49%	—
Current Drawdown Current decline from peak	0.00%	-0.11%	+0.11%
Average Drawdown Average peak-to-trough decline	-0.31%	-2.32%	+2.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.43%	0.68%	-0.25%

Volatility

ODHY vs. FSYD - Volatility Comparison

The current volatility for Obra Defensive High Yield ETF (ODHY) is 0.69%, while Fidelity Sustainable High Yield ETF (FSYD) has a volatility of 0.90%. This indicates that ODHY experiences smaller price fluctuations and is considered to be less risky than FSYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ODHY	FSYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.69%	0.90%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	2.12%	3.25%	-1.13%
Volatility (1Y) Calculated over the trailing 1-year period	2.59%	4.10%	-1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.67%	7.72%	-5.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.67%	7.72%	-5.05%

ODHY vs. FSYD - Expense Ratio Comparison

ODHY has a 0.50% expense ratio, which is lower than FSYD's 0.55% expense ratio.

Dividends

ODHY vs. FSYD - Dividend Comparison

ODHY's dividend yield for the trailing twelve months is around 5.22%, less than FSYD's 6.36% yield.

Position	TTM	2025	2024	2023	2022
FSYD Fidelity Sustainable High Yield ETF	6.36%	6.49%	6.47%	6.70%	5.29%
ODHY Obra Defensive High Yield ETF	5.22%	2.62%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ODHY and FSYD in my portfolio?

ODHY and FSYD have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ODHY or FSYD?

FSYD has higher volatility (0.90%) compared to ODHY (0.69%). In terms of maximum drawdown, ODHY dropped -1.96% vs FSYD's -12.11%.

Which ETF is better, ODHY or FSYD?

On 1-year performance, FSYD leads with 8.15% vs 4.69% for ODHY. On fees, ODHY is cheaper at 0.50% per year. On volatility, ODHY has been the lower-risk option at 0.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ODHY or FSYD?

Over the 1-year period, FSYD has performed better with a 8.15% return vs 4.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ODHY or FSYD?

ODHY is cheaper with a 0.50% expense ratio, compared with 0.55% for FSYD.

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

FSYD has the higher dividend yield at 6.36%, compared with 5.22% for ODHY.

What is the main difference between ODHY and FSYD?

They also come from different issuers: Obra and Fidelity. Their fees differ too: 0.50% for ODHY and 0.55% for FSYD.

Which has better risk-adjusted returns?

FSYD currently has the higher Sharpe Ratio (2.00 vs 1.82), 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.