ODVIX vs. FFRHX

Last updated Jun 24, 2026

ODVIX (Invesco Developing Markets Fund Class R6) and FFRHX (Fidelity Floating Rate High Income Fund) are both mutual funds - ODVIX is a Emerging Markets Equities fund managed by Invesco, while FFRHX is a Bank Loan fund actively managed by Fidelity. Over the past 10 years, ODVIX returned 8.35%/yr vs 4.98%/yr for FFRHX. At a 0.30 correlation, their price movements are largely independent. ODVIX charges 0.88%/yr vs 0.67%/yr for FFRHX.

Performance

ODVIX vs. FFRHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Developing Markets Fund Class R6 (ODVIX) 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, ODVIX achieves a 19.69% return, which is significantly higher than FFRHX's 1.71% return. Over the past 10 years, ODVIX has outperformed FFRHX with an annualized return of 8.35%, while FFRHX has yielded a comparatively lower 4.98% annualized return.

ODVIX

• 1D: -0.54%
• 1M: 3.88%
• YTD: 19.69%
• 6M: 20.47%
• 1Y: 42.35%
• 3Y*: 15.56%
• 5Y*: 2.38%
• 10Y*: 8.35%

FFRHX

• 1D: 0.00%
• 1M: 0.22%
• YTD: 1.71%
• 6M: 2.32%
• 1Y: 5.89%
• 3Y*: 7.20%
• 5Y*: 5.40%
• 10Y*: 4.98%

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

ODVIX vs. FFRHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ODVIX Invesco Developing Markets Fund Class R6	19.69%	28.84%	-0.98%	11.55%	-24.85%	-7.17%	17.66%	24.58%	-11.78%	35.33%
FFRHX Fidelity Floating Rate High Income Fund	1.71%	5.47%	7.10%	12.63%	-1.55%	5.01%	1.69%	8.63%	0.10%	3.91%

Correlation

The correlation between ODVIX and FFRHX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Dec 29, 2011	0.30

Return for Risk

ODVIX vs. FFRHX — Risk / Return Rank

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

ODVIX

ODVIX Risk / Return Rank: 75
ODVIX Sharpe Ratio Rank: 78
ODVIX Sortino Ratio Rank: 65
ODVIX Omega Ratio Rank: 75
ODVIX Calmar Ratio Rank: 82
ODVIX Martin Ratio Rank: 75

FFRHX

FFRHX Risk / Return Rank: 92
FFRHX Sharpe Ratio Rank: 83
FFRHX Sortino Ratio Rank: 98
FFRHX Omega Ratio Rank: 97
FFRHX Calmar Ratio Rank: 94
FFRHX Martin Ratio Rank: 91

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.

ODVIX vs. FFRHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Developing Markets Fund Class R6 (ODVIX) 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.

	ODVIX	FFRHX	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.50	-0.13
Sortino ratio: Return per unit of downside risk	3.07	5.94	-2.87
Omega ratio: Gain probability vs. loss probability	1.44	1.87	-0.43
Calmar ratio: Return relative to maximum drawdown	3.57	4.97	-1.39
Martin ratio: Return relative to average drawdown	13.25	17.06	-3.81

ODVIX vs. FFRHX - Sharpe Ratio Comparison

The current ODVIX Sharpe Ratio is 2.37, which is comparable to the FFRHX Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of ODVIX 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

ODVIX vs. FFRHX - Drawdown Comparison

The maximum ODVIX drawdown since its inception was -45.88%, which is greater than FFRHX's maximum drawdown of -22.20%. Use the drawdown chart below to compare losses from any high point for ODVIX and FFRHX.

Drawdown Indicators

	ODVIX	FFRHX	Difference
Max Drawdown Largest peak-to-trough decline	-45.88%	-22.20%	-23.68%
Max Drawdown (1Y) Largest decline over 1 year	-12.05%	-1.19%	-10.86%
Max Drawdown (3Y) Largest decline over 3 years	-18.10%	-3.29%	-14.81%
Max Drawdown (5Y) Largest decline over 5 years	-44.24%	-5.90%	-38.34%
Max Drawdown (10Y) Largest decline over 10 years	-45.88%	-22.20%	-23.68%
Current Drawdown Current decline from peak	-3.47%	-0.44%	-3.03%
Average Drawdown Average peak-to-trough decline	-14.53%	-1.15%	-13.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	0.35%	+2.89%

Volatility

ODVIX vs. FFRHX - Volatility Comparison

Invesco Developing Markets Fund Class R6 (ODVIX) has a higher volatility of 9.02% compared to Fidelity Floating Rate High Income Fund (FFRHX) at 0.66%. This indicates that ODVIX'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

	ODVIX	FFRHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.02%	0.66%	+8.36%
Volatility (6M) Calculated over the trailing 6-month period	15.68%	1.63%	+14.05%
Volatility (1Y) Calculated over the trailing 1-year period	18.21%	2.37%	+15.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.10%	2.88%	+15.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.02%	4.14%	+13.88%

ODVIX vs. FFRHX - Expense Ratio Comparison

ODVIX has a 0.88% expense ratio, which is higher than FFRHX's 0.67% expense ratio.

Dividends

ODVIX vs. FFRHX - Dividend Comparison

ODVIX's dividend yield for the trailing twelve months is around 36.47%, more 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%
ODVIX Invesco Developing Markets Fund Class R6	36.47%	43.65%	0.42%	0.95%	1.18%	5.56%	0.35%	2.61%	0.80%	0.73%	0.72%	0.99%

Frequently Asked Questions

Can I hold both ODVIX and FFRHX in my portfolio?

ODVIX and FFRHX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ODVIX or FFRHX?

ODVIX has higher volatility (9.02%) compared to FFRHX (0.66%). In terms of maximum drawdown, ODVIX dropped -45.88% vs FFRHX's -22.20%.

Which has better risk-adjusted returns?

FFRHX currently has the higher Sharpe Ratio (2.50 vs 2.37), 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.