SPHIX vs. FSAHX
Compare and contrast key facts about Fidelity High Income Fund (SPHIX) and Fidelity Short Duration High Income Fund (FSAHX).
SPHIX is managed by Fidelity. It was launched on Aug 29, 1990. FSAHX is managed by Fidelity. It was launched on Nov 5, 2013.
Performance
SPHIX vs. FSAHX - Performance Comparison
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SPHIX vs. FSAHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPHIX Fidelity High Income Fund | -0.85% | 9.85% | 9.57% | 10.99% | -13.08% | 3.55% | 2.47% | 14.27% | -2.39% | 8.60% |
FSAHX Fidelity Short Duration High Income Fund | -0.68% | 7.75% | 8.23% | 10.29% | -7.06% | 2.78% | 3.69% | 9.32% | -1.24% | 4.96% |
Returns By Period
In the year-to-date period, SPHIX achieves a -0.85% return, which is significantly lower than FSAHX's -0.68% return. Over the past 10 years, SPHIX has outperformed FSAHX with an annualized return of 5.26%, while FSAHX has yielded a comparatively lower 4.61% annualized return.
SPHIX
- 1D
- 0.00%
- 1M
- -2.33%
- YTD
- -0.85%
- 6M
- 0.57%
- 1Y
- 8.03%
- 3Y*
- 8.81%
- 5Y*
- 3.72%
- 10Y*
- 5.26%
FSAHX
- 1D
- 0.11%
- 1M
- -1.56%
- YTD
- -0.68%
- 6M
- 0.84%
- 1Y
- 6.35%
- 3Y*
- 7.52%
- 5Y*
- 3.98%
- 10Y*
- 4.61%
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SPHIX vs. FSAHX - Expense Ratio Comparison
SPHIX has a 0.70% expense ratio, which is lower than FSAHX's 0.75% expense ratio.
Return for Risk
SPHIX vs. FSAHX — Risk / Return Rank
SPHIX
FSAHX
SPHIX vs. FSAHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity High Income Fund (SPHIX) and Fidelity Short Duration High Income Fund (FSAHX). 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.
| SPHIX | FSAHX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.12 | 2.08 | +0.04 |
Sortino ratioReturn per unit of downside risk | 2.97 | 3.10 | -0.13 |
Omega ratioGain probability vs. loss probability | 1.49 | 1.50 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 2.43 | 2.52 | -0.09 |
Martin ratioReturn relative to average drawdown | 10.66 | 11.70 | -1.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPHIX | FSAHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | 2.08 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 1.05 | -0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.91 | 1.09 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.44 | 0.86 | +0.58 |
Correlation
The correlation between SPHIX and FSAHX is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SPHIX vs. FSAHX - Dividend Comparison
SPHIX's dividend yield for the trailing twelve months is around 6.01%, less than FSAHX's 6.96% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPHIX Fidelity High Income Fund | 6.01% | 6.43% | 6.10% | 5.41% | 3.91% | 4.07% | 4.71% | 5.10% | 6.02% | 5.40% | 6.07% | 5.59% |
FSAHX Fidelity Short Duration High Income Fund | 6.96% | 7.36% | 6.53% | 5.97% | 3.26% | 2.85% | 3.19% | 4.22% | 4.52% | 4.11% | 4.73% | 4.40% |
Drawdowns
SPHIX vs. FSAHX - Drawdown Comparison
The maximum SPHIX drawdown since its inception was -31.36%, which is greater than FSAHX's maximum drawdown of -16.77%. Use the drawdown chart below to compare losses from any high point for SPHIX and FSAHX.
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Drawdown Indicators
| SPHIX | FSAHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.36% | -16.77% | -14.59% |
Max Drawdown (1Y)Largest decline over 1 year | -3.31% | -2.58% | -0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -16.46% | -9.43% | -7.03% |
Max Drawdown (10Y)Largest decline over 10 years | -22.44% | -16.77% | -5.67% |
Current DrawdownCurrent decline from peak | -2.33% | -1.67% | -0.66% |
Average DrawdownAverage peak-to-trough decline | -3.49% | -1.57% | -1.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 0.56% | +0.19% |
Volatility
SPHIX vs. FSAHX - Volatility Comparison
Fidelity High Income Fund (SPHIX) has a higher volatility of 1.33% compared to Fidelity Short Duration High Income Fund (FSAHX) at 1.07%. This indicates that SPHIX's price experiences larger fluctuations and is considered to be riskier than FSAHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPHIX | FSAHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 1.07% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 2.28% | 2.00% | +0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.95% | 3.27% | +0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.26% | 3.82% | +1.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.79% | 4.23% | +1.56% |