SCYB vs. FIBUX

Last updated Jun 24, 2026

SCYB (Schwab High Yield Bond ETF) and FIBUX (Fidelity Flex U.S. Bond Index Fund) are both funds - SCYB is a High Yield Bonds fund tracking the ICE BofA US Cash Pay High Yield Constrained Index, while FIBUX is a Total Bond Market fund managed by Fidelity. Over the past year, SCYB returned 6.36% vs 4.25% for FIBUX. A 0.57 correlation means they provide meaningful diversification when combined. SCYB charges 0.03%/yr vs 0.00%/yr for FIBUX.

Performance

SCYB vs. FIBUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab High Yield Bond ETF (SCYB) and Fidelity Flex U.S. Bond Index Fund (FIBUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCYB achieves a 1.84% return, which is significantly higher than FIBUX's 0.13% return.

SCYB

• 1D: -0.08%
• 1M: 0.42%
• YTD: 1.84%
• 6M: 1.96%
• 1Y: 6.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FIBUX

• 1D: -0.33%
• 1M: 0.57%
• YTD: 0.13%
• 6M: 0.47%
• 1Y: 4.25%
• 3Y*: 3.89%
• 5Y*: -0.09%
• 10Y*: —

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

SCYB vs. FIBUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SCYB Schwab High Yield Bond ETF	1.84%	8.33%	8.15%	7.29%
FIBUX Fidelity Flex U.S. Bond Index Fund	0.13%	7.20%	1.31%	4.23%

Correlation

The correlation between SCYB and FIBUX is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (All Time) Calculated using the full available price history since Jul 11, 2023	0.57

The correlation between SCYB and FIBUX has been stable across timeframes, ranging from 0.56 to 0.57 - a consistent structural relationship.

Return for Risk

SCYB vs. FIBUX — Risk / Return Rank

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

SCYB

SCYB Risk / Return Rank: 56
SCYB Sharpe Ratio Rank: 51
SCYB Sortino Ratio Rank: 55
SCYB Omega Ratio Rank: 55
SCYB Calmar Ratio Rank: 55
SCYB Martin Ratio Rank: 66

FIBUX

FIBUX Risk / Return Rank: 18
FIBUX Sharpe Ratio Rank: 18
FIBUX Sortino Ratio Rank: 19
FIBUX Omega Ratio Rank: 17
FIBUX Calmar Ratio Rank: 20
FIBUX Martin Ratio Rank: 17

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.

SCYB vs. FIBUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab High Yield Bond ETF (SCYB) and Fidelity Flex U.S. Bond Index Fund (FIBUX). 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.

	SCYB	FIBUX	Difference
Sharpe ratio: Return per unit of total volatility	1.69	1.14	+0.55
Sortino ratio: Return per unit of downside risk	2.53	1.70	+0.84
Omega ratio: Gain probability vs. loss probability	1.33	1.20	+0.13
Calmar ratio: Return relative to maximum drawdown	2.62	1.52	+1.10
Martin ratio: Return relative to average drawdown	11.63	4.23	+7.40

SCYB vs. FIBUX - Sharpe Ratio Comparison

The current SCYB Sharpe Ratio is 1.69, which is higher than the FIBUX Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of SCYB and FIBUX, 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

SCYB vs. FIBUX - Drawdown Comparison

The maximum SCYB drawdown since its inception was -4.92%, smaller than the maximum FIBUX drawdown of -19.76%. Use the drawdown chart below to compare losses from any high point for SCYB and FIBUX.

Drawdown Indicators

	SCYB	FIBUX	Difference
Max Drawdown Largest peak-to-trough decline	-4.92%	-19.76%	+14.84%
Max Drawdown (1Y) Largest decline over 1 year	-2.44%	-2.97%	+0.53%
Max Drawdown (3Y) Largest decline over 3 years	—	-6.09%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.40%	—
Current Drawdown Current decline from peak	-0.23%	-3.75%	+3.52%
Average Drawdown Average peak-to-trough decline	-0.51%	-5.78%	+5.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	1.06%	-0.51%

Volatility

SCYB vs. FIBUX - Volatility Comparison

The current volatility for Schwab High Yield Bond ETF (SCYB) is 1.01%, while Fidelity Flex U.S. Bond Index Fund (FIBUX) has a volatility of 1.11%. This indicates that SCYB experiences smaller price fluctuations and is considered to be less risky than FIBUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCYB	FIBUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.01%	1.11%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	3.01%	2.90%	+0.11%
Volatility (1Y) Calculated over the trailing 1-year period	3.79%	3.97%	-0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.11%	6.04%	-0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.11%	5.11%	0.00%

SCYB vs. FIBUX - Expense Ratio Comparison

SCYB has a 0.03% expense ratio, which is higher than FIBUX's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SCYB vs. FIBUX - Dividend Comparison

SCYB's dividend yield for the trailing twelve months is around 6.92%, more than FIBUX's 4.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIBUX Fidelity Flex U.S. Bond Index Fund	4.09%	3.95%	3.65%	2.93%	1.62%	1.18%	2.32%	2.96%	2.70%	2.45%
SCYB Schwab High Yield Bond ETF	6.92%	6.99%	7.06%	3.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SCYB and FIBUX in my portfolio?

SCYB and FIBUX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCYB or FIBUX?

FIBUX has higher volatility (1.11%) compared to SCYB (1.01%). In terms of maximum drawdown, SCYB dropped -4.92% vs FIBUX's -19.76%.

Which has better risk-adjusted returns?

SCYB currently has the higher Sharpe Ratio (1.69 vs 1.14), 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.