SGYAX vs. FFHCX
SGYAX (SEI Institutional Investments Trust High Yield Bond Fund) and FFHCX (Fidelity Series Floating Rate High Income Fund) are both High Yield Bonds funds. Over the past 10 years, SGYAX returned 5.42%/yr vs 5.57%/yr for FFHCX. Their 0.58 correlation means they have sometimes moved together and sometimes differently. SGYAX charges 0.56%/yr vs 0.00%/yr for FFHCX.
Performance
SGYAX vs. FFHCX - Performance Comparison
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Returns By Period
In the year-to-date period, SGYAX achieves a 1.08% return, which is significantly lower than FFHCX's 2.37% return. Both investments have delivered pretty close results over the past 10 years, with SGYAX having a 5.42% annualized return and FFHCX not far ahead at 5.57%.
SGYAX
- 1D
- 0.15%
- 1M
- -0.58%
- 6M
- -0.02%
- YTD
- 1.08%
- 1Y
- 3.94%
- 3Y*
- 7.30%
- 5Y*
- 3.23%
- 10Y*
- 5.42%
- ALL TIME*
- 3.13%
FFHCX
- 1D
- 0.00%
- 1M
- 0.12%
- 6M
- 2.17%
- YTD
- 2.37%
- 1Y
- 5.43%
- 3Y*
- 7.34%
- 5Y*
- 6.11%
- 10Y*
- 5.57%
- ALL TIME*
- 5.14%
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 |
SGYAX vs. FFHCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGYAX SEI Institutional Investments Trust High Yield Bond Fund | 1.08% | 8.01% | 9.12% | 10.89% | -13.29% | 9.62% | 6.04% | 14.01% | -2.04% | 8.08% |
FFHCX Fidelity Series Floating Rate High Income Fund | 2.37% | 6.02% | 8.49% | 13.19% | -1.55% | 5.66% | 2.54% | 9.42% | 1.36% | 4.80% |
Correlation
The correlation between SGYAX and FFHCX is 0.53, 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. | 0.53 |
Correlation (3Y) Balances recent behavior with more history. | 0.50 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.57 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.58 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2011 | 0.58 |
The correlation between SGYAX and FFHCX has been stable across timeframes, ranging from 0.50 to 0.58 - a consistent structural relationship.
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Return for Risk
SGYAX vs. FFHCX — Risk / Return Rank
SGYAX
FFHCX
SGYAX vs. FFHCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Investments Trust High Yield Bond Fund (SGYAX) and Fidelity Series Floating Rate High Income Fund (FFHCX). 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.
| SGYAX | FFHCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.01 | ||
| Sortino ratioReturn per unit of downside risk | -3.23 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.80 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 5.21 | -3.62 |
| Martin ratioReturn relative to average drawdown | 6.60 | 17.59 | -10.99 |
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Drawdowns
SGYAX vs. FFHCX - Drawdown Comparison
The maximum SGYAX drawdown since its inception was -45.51%, which is greater than FFHCX's maximum drawdown of -21.45%. Use the drawdown chart below to compare losses from any high point for SGYAX and FFHCX.
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Drawdown Indicators
| SGYAX | FFHCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.51% | -21.45% | -24.06% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -1.14% | -1.63% |
Max Drawdown (3Y)Largest decline over 3 years | -4.18% | -3.12% | -1.06% |
Max Drawdown (5Y)Largest decline over 5 years | -15.45% | -5.81% | -9.64% |
Max Drawdown (10Y)Largest decline over 10 years | -21.85% | -21.45% | -0.40% |
Current DrawdownCurrent decline from peak | -0.72% | -0.11% | -0.61% |
Average DrawdownAverage peak-to-trough decline | -6.01% | -0.92% | -5.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.34% | +0.33% |
Volatility
SGYAX vs. FFHCX - Volatility Comparison
SEI Institutional Investments Trust High Yield Bond Fund (SGYAX) has a higher volatility of 0.59% compared to Fidelity Series Floating Rate High Income Fund (FFHCX) at 0.33%. This indicates that SGYAX's price experiences larger fluctuations and is considered to be riskier than FFHCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGYAX | FFHCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 0.33% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 1.90% | +0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.46% | 2.60% | +0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.79% | 3.11% | +1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.27% | 4.17% | +1.10% |
SGYAX vs. FFHCX - Expense Ratio Comparison
SGYAX has a 0.56% expense ratio, which is higher than FFHCX's 0.00% expense ratio.
Dividends
SGYAX vs. FFHCX - Dividend Comparison
SGYAX's dividend yield for the trailing twelve months is around 8.06%, more than FFHCX's 6.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFHCX Fidelity Series Floating Rate High Income Fund | 6.91% | 8.11% | 8.46% | 9.47% | 3.83% | 3.64% | 4.61% | 5.92% | 6.68% | 4.80% | 5.16% | 4.37% |
SGYAX SEI Institutional Investments Trust High Yield Bond Fund | 8.06% | 8.88% | 8.68% | 10.08% | 8.79% | 5.37% | 7.30% | 7.15% | 7.31% | 7.27% | 7.30% | 7.88% |
Frequently Asked Questions
SGYAX and FFHCX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SGYAX has higher volatility (0.59%) compared to FFHCX (0.33%). In terms of maximum drawdown, SGYAX dropped -45.51% vs FFHCX's -21.45%.
FFHCX currently has the higher Sharpe Ratio (2.29 vs 1.28), 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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