SHYG vs. FADMX
SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) and FADMX (Fidelity Strategic Income Fund) are both funds - SHYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield 0-5 Index, while FADMX is a Multisector Bonds fund managed by Fidelity. Over the past 5 years, SHYG returned 4.96%/yr vs 2.83%/yr for FADMX. Their 0.63 correlation means they have sometimes moved together and sometimes differently. SHYG charges 0.30%/yr vs 0.64%/yr for FADMX.
Performance
SHYG vs. FADMX - Performance Comparison
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Returns By Period
In the year-to-date period, SHYG achieves a 2.30% return, which is significantly lower than FADMX's 2.51% return.
SHYG
- 1D
- 0.24%
- 1M
- 0.28%
- 6M
- 1.87%
- YTD
- 2.30%
- 1Y
- 5.22%
- 3Y*
- 7.94%
- 5Y*
- 4.96%
- 10Y*
- 4.99%
- ALL TIME*
- 4.42%
FADMX
- 1D
- 0.33%
- 1M
- -0.50%
- 6M
- 1.93%
- YTD
- 2.51%
- 1Y
- 6.02%
- 3Y*
- 7.66%
- 5Y*
- 2.83%
- 10Y*
- —
- ALL TIME*
- 3.93%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $71.43M | $61.03M | $58.57M |
SHYG vs. FADMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2.30% | 7.94% | 8.17% | 10.38% | -4.71% | 4.60% | 3.15% | 9.93% | -0.57% |
FADMX Fidelity Strategic Income Fund | 2.51% | 9.01% | 6.02% | 9.55% | -11.84% | 3.46% | 6.72% | 11.06% | -2.02% |
Correlation
The correlation between SHYG and FADMX is 0.72, 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. | 0.72 |
Correlation (3Y) Balances recent behavior with more history. | 0.70 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2018 | 0.63 |
The correlation between SHYG and FADMX has been stable across timeframes, ranging from 0.63 to 0.72 - a consistent structural relationship.
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Return for Risk
SHYG vs. FADMX — Risk / Return Rank
SHYG
FADMX
SHYG vs. FADMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) and Fidelity Strategic Income Fund (FADMX). 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.
| SHYG | FADMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.32 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.00 | 2.41 | +0.58 |
| Martin ratioReturn relative to average drawdown | 12.84 | 9.12 | +3.72 |
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Drawdowns
SHYG vs. FADMX - Drawdown Comparison
The maximum SHYG drawdown since its inception was -19.26%, which is greater than FADMX's maximum drawdown of -15.98%. Use the drawdown chart below to compare losses from any high point for SHYG and FADMX.
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Drawdown Indicators
| SHYG | FADMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -15.98% | -3.28% |
Max Drawdown (1Y)Largest decline over 1 year | -1.75% | -2.62% | +0.87% |
Max Drawdown (3Y)Largest decline over 3 years | -4.53% | -3.63% | -0.90% |
Max Drawdown (5Y)Largest decline over 5 years | -9.39% | -15.98% | +6.59% |
Max Drawdown (10Y)Largest decline over 10 years | -19.26% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.98% | +0.98% |
Average DrawdownAverage peak-to-trough decline | -1.43% | -3.02% | +1.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 0.69% | -0.28% |
Volatility
SHYG vs. FADMX - Volatility Comparison
The current volatility for iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) is 0.68%, while Fidelity Strategic Income Fund (FADMX) has a volatility of 1.12%. This indicates that SHYG experiences smaller price fluctuations and is considered to be less risky than FADMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYG | FADMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 1.12% | -0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 2.63% | 3.27% | -0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.18% | 3.79% | -0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.74% | 4.58% | +1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.39% | 4.76% | +1.63% |
SHYG vs. FADMX - Expense Ratio Comparison
SHYG has a 0.30% expense ratio, which is lower than FADMX's 0.64% expense ratio.
Dividends
SHYG vs. FADMX - Dividend Comparison
SHYG's dividend yield for the trailing twelve months is around 7.02%, more than FADMX's 4.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FADMX Fidelity Strategic Income Fund | 4.34% | 4.33% | 4.16% | 4.31% | 2.91% | 4.23% | 3.82% | 4.34% | 2.74% | 0.00% | 0.00% | 0.00% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 7.02% | 7.03% | 6.93% | 6.54% | 5.57% | 4.83% | 5.07% | 5.33% | 5.90% | 5.49% | 5.53% | 5.17% |
Frequently Asked Questions
SHYG and FADMX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FADMX has higher volatility (1.12%) compared to SHYG (0.68%). In terms of maximum drawdown, SHYG dropped -19.26% vs FADMX's -15.98%.
FADMX currently has the higher Sharpe Ratio (1.67 vs 1.65), 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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