SIXH vs. FDLO

Last updated Jun 4, 2026

SIXH (6 Meridian Hedged Equity-Index Option Strategy ETF) and FDLO (Fidelity Low Volatility Factor ETF) are both Volatility Hedged Equity funds. SIXH is actively managed, while FDLO is passively managed. Over the past 5 years, SIXH returned 8.95%/yr vs 10.12%/yr for FDLO. A 0.55 correlation means they provide meaningful diversification when combined. SIXH charges 0.87%/yr vs 0.29%/yr for FDLO.

Performance

SIXH vs. FDLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) and Fidelity Low Volatility Factor ETF (FDLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIXH achieves a 7.20% return, which is significantly higher than FDLO's 5.00% return.

SIXH

• 1D: 0.48%
• 1M: -0.21%
• YTD: 7.20%
• 6M: 8.70%
• 1Y: 10.61%
• 3Y*: 12.22%
• 5Y*: 8.95%
• 10Y*: —

FDLO

• 1D: -0.85%
• 1M: 1.29%
• YTD: 5.00%
• 6M: 4.24%
• 1Y: 15.16%
• 3Y*: 14.30%
• 5Y*: 10.12%
• 10Y*: —

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

SIXH vs. FDLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	7.20%	9.47%	12.06%	4.93%	6.90%	18.37%	5.83%
FDLO Fidelity Low Volatility Factor ETF	5.00%	11.77%	16.06%	16.38%	-10.38%	24.00%	22.74%

Correlation

The correlation between SIXH and FDLO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since May 12, 2020	0.55

The correlation between SIXH and FDLO shifts across timeframes, from 0.42 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

SIXH vs. FDLO - Sectors Allocation Comparison

Sectors	SIXH	FDLO
Consumer Defensive	23.2%	4.7%
Technology	20.2%	33.1%
Communication Services	13.3%	10.8%
Healthcare	12.6%	9.5%
Financial Services	9.7%	12.5%
Industrials	7.8%	9.1%
Consumer Cyclical	6.8%	10.2%
Utilities	5.0%	2.3%
Real Estate	1.4%	2.3%
Energy	0.1%	3.4%
Basic Materials	0.1%	1.7%

Return for Risk

SIXH vs. FDLO — Risk / Return Rank

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

SIXH

SIXH Risk / Return Rank: 42
SIXH Sharpe Ratio Rank: 39
SIXH Sortino Ratio Rank: 43
SIXH Omega Ratio Rank: 38
SIXH Calmar Ratio Rank: 49
SIXH Martin Ratio Rank: 39

FDLO

FDLO Risk / Return Rank: 49
FDLO Sharpe Ratio Rank: 50
FDLO Sortino Ratio Rank: 50
FDLO Omega Ratio Rank: 48
FDLO Calmar Ratio Rank: 43
FDLO Martin Ratio Rank: 53

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.

SIXH vs. FDLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) and Fidelity Low Volatility Factor ETF (FDLO). 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.

	SIXH	FDLO	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.74	-0.34
Sortino ratio: Return per unit of downside risk	2.18	2.48	-0.30
Omega ratio: Gain probability vs. loss probability	1.25	1.31	-0.06
Calmar ratio: Return relative to maximum drawdown	2.44	2.13	+0.31
Martin ratio: Return relative to average drawdown	6.25	9.30	-3.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIXH vs. FDLO - Sharpe Ratio Comparison

The current SIXH Sharpe Ratio is 1.40, which is comparable to the FDLO Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of SIXH and FDLO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SIXH	FDLO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	1.74	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	0.78	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	0.83	+0.23

Drawdowns

SIXH vs. FDLO - Drawdown Comparison

The maximum SIXH drawdown since its inception was -11.68%, smaller than the maximum FDLO drawdown of -34.35%. Use the drawdown chart below to compare losses from any high point for SIXH and FDLO.

Drawdown Indicators

	SIXH	FDLO	Difference
Max Drawdown Largest peak-to-trough decline	-11.68%	-34.35%	+22.67%
Max Drawdown (1Y) Largest decline over 1 year	-4.36%	-7.13%	+2.77%
Max Drawdown (3Y) Largest decline over 3 years	-9.10%	-13.68%	+4.58%
Max Drawdown (5Y) Largest decline over 5 years	-11.68%	-19.23%	+7.55%
Current Drawdown Current decline from peak	-2.42%	-0.91%	-1.51%
Average Drawdown Average peak-to-trough decline	-1.85%	-3.38%	+1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	1.63%	+0.07%

Volatility

SIXH vs. FDLO - Volatility Comparison

6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) has a higher volatility of 2.31% compared to Fidelity Low Volatility Factor ETF (FDLO) at 1.91%. This indicates that SIXH's price experiences larger fluctuations and is considered to be riskier than FDLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIXH	FDLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.31%	1.91%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	6.02%	6.41%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	7.60%	8.75%	-1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.37%	13.07%	-2.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.15%	15.50%	-5.35%

SIXH vs. FDLO - Expense Ratio Comparison

SIXH has a 0.87% expense ratio, which is higher than FDLO's 0.29% expense ratio.

Dividends

SIXH vs. FDLO - Dividend Comparison

SIXH's dividend yield for the trailing twelve months is around 1.90%, more than FDLO's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDLO Fidelity Low Volatility Factor ETF	1.36%	1.37%	1.40%	1.35%	1.49%	1.11%	1.38%	1.55%	1.76%	1.61%	0.55%
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	1.90%	2.23%	1.55%	2.04%	2.06%	1.65%	1.10%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SIXH and FDLO in my portfolio?

SIXH and FDLO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIXH or FDLO?

SIXH has higher volatility (2.31%) compared to FDLO (1.91%). In terms of maximum drawdown, SIXH dropped -11.68% vs FDLO's -34.35%.

Which ETF is better, SIXH or FDLO?

On 5-year performance, FDLO leads with 10.12% vs 8.95% for SIXH. On fees, FDLO is cheaper at 0.29% per year. On volatility, FDLO has been the lower-risk option at 1.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIXH or FDLO?

Over the 5-year period, FDLO has performed better with a 10.12% return vs 8.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIXH or FDLO?

FDLO is cheaper with a 0.29% expense ratio, compared with 0.87% for SIXH.

Which ETF pays a higher dividend yield, SIXH or FDLO?

SIXH has the higher dividend yield at 1.90%, compared with 1.36% for FDLO.

What is the main difference between SIXH and FDLO?

They also come from different issuers: Exchange Traded Concepts and Fidelity. Their fees differ too: 0.87% for SIXH and 0.29% for FDLO.

Which has better risk-adjusted returns?

FDLO currently has the higher Sharpe Ratio (1.74 vs 1.40), 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.