PAXHX vs. FAGIX
PAXHX (Pax High Yield Bond Fund) and FAGIX (Fidelity Capital & Income Fund) are both High Yield Bonds funds. Over the past 10 years, PAXHX returned 4.57%/yr vs 7.47%/yr for FAGIX. Their 0.66 correlation means they have sometimes moved together and sometimes differently. PAXHX charges 0.93%/yr vs 0.67%/yr for FAGIX.
Performance
PAXHX vs. FAGIX - Performance Comparison
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Returns By Period
In the year-to-date period, PAXHX achieves a 1.22% return, which is significantly lower than FAGIX's 5.47% return. Over the past 10 years, PAXHX has underperformed FAGIX with an annualized return of 4.57%, while FAGIX has yielded a comparatively higher 7.47% annualized return.
PAXHX
- 1D
- 0.16%
- 1M
- -0.82%
- 6M
- 0.87%
- YTD
- 1.22%
- 1Y
- 4.80%
- 3Y*
- 7.22%
- 5Y*
- 2.64%
- 10Y*
- 4.57%
- ALL TIME*
- 3.90%
FAGIX
- 1D
- 1.00%
- 1M
- -1.59%
- 6M
- 3.79%
- YTD
- 5.47%
- 1Y
- 11.22%
- 3Y*
- 11.21%
- 5Y*
- 6.17%
- 10Y*
- 7.47%
- ALL TIME*
- 6.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PAXHX vs. FAGIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAXHX Pax High Yield Bond Fund | 1.22% | 8.75% | 6.08% | 12.20% | -13.52% | 2.55% | 7.83% | 14.62% | -3.04% | 6.39% |
FAGIX Fidelity Capital & Income Fund | 5.47% | 12.38% | 10.69% | 13.02% | -11.50% | 11.13% | 9.95% | 18.96% | -7.17% | 11.66% |
Correlation
The correlation between PAXHX and FAGIX is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.66 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.71 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 1999 | 0.66 |
The correlation between PAXHX and FAGIX shifts across timeframes, from 0.62 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PAXHX vs. FAGIX — Risk / Return Rank
PAXHX
FAGIX
PAXHX vs. FAGIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pax High Yield Bond Fund (PAXHX) and Fidelity Capital & Income Fund (FAGIX). 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.
| PAXHX | FAGIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.28 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 2.72 | -0.60 |
| Martin ratioReturn relative to average drawdown | 9.78 | 10.26 | -0.48 |
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Drawdowns
PAXHX vs. FAGIX - Drawdown Comparison
The maximum PAXHX drawdown since its inception was -25.81%, smaller than the maximum FAGIX drawdown of -37.97%. Use the drawdown chart below to compare losses from any high point for PAXHX and FAGIX.
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Drawdown Indicators
| PAXHX | FAGIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.81% | -37.97% | +12.16% |
Max Drawdown (1Y)Largest decline over 1 year | -2.45% | -4.02% | +1.57% |
Max Drawdown (3Y)Largest decline over 3 years | -3.85% | -7.26% | +3.41% |
Max Drawdown (5Y)Largest decline over 5 years | -17.38% | -15.42% | -1.96% |
Max Drawdown (10Y)Largest decline over 10 years | -18.15% | -28.45% | +10.30% |
Current DrawdownCurrent decline from peak | -0.98% | -3.07% | +2.09% |
Average DrawdownAverage peak-to-trough decline | -4.66% | -6.97% | +2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 1.06% | -0.53% |
Volatility
PAXHX vs. FAGIX - Volatility Comparison
The current volatility for Pax High Yield Bond Fund (PAXHX) is 0.82%, while Fidelity Capital & Income Fund (FAGIX) has a volatility of 2.24%. This indicates that PAXHX experiences smaller price fluctuations and is considered to be less risky than FAGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAXHX | FAGIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 2.24% | -1.42% |
Volatility (6M)Calculated over the trailing 6-month period | 2.70% | 5.94% | -3.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.37% | 7.04% | -3.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.22% | 6.79% | -1.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.23% | 7.84% | -2.61% |
PAXHX vs. FAGIX - Expense Ratio Comparison
PAXHX has a 0.93% expense ratio, which is higher than FAGIX's 0.67% expense ratio.
Dividends
PAXHX vs. FAGIX - Dividend Comparison
PAXHX's dividend yield for the trailing twelve months is around 5.56%, more than FAGIX's 5.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAGIX Fidelity Capital & Income Fund | 5.05% | 4.74% | 5.02% | 5.28% | 10.25% | 6.08% | 4.59% | 5.00% | 5.67% | 5.05% | 4.57% | 4.51% |
PAXHX Pax High Yield Bond Fund | 5.56% | 5.86% | 5.53% | 6.33% | 4.26% | 3.53% | 4.67% | 5.23% | 5.29% | 5.18% | 5.12% | 6.39% |
Frequently Asked Questions
PAXHX and FAGIX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAGIX has higher volatility (2.24%) compared to PAXHX (0.82%). In terms of maximum drawdown, PAXHX dropped -25.81% vs FAGIX's -37.97%.
FAGIX currently has the higher Sharpe Ratio (1.55 vs 1.54), 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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