TSDOX vs. FALN
TSDOX (Touchstone Ultra Short Duration Fixed Income Fund) and FALN (iShares Fallen Angels USD Bond ETF) are both funds - TSDOX is a Ultrashort Bond fund managed by Touchstone, while FALN is a High Yield Bonds fund tracking the Bloomberg US High Yield Fallen Angel 3% Capped Index. Over the past 10 years, TSDOX returned 2.64%/yr vs 6.60%/yr for FALN. At a 0.10 correlation, their price movements are largely independent. TSDOX charges 0.69%/yr vs 0.25%/yr for FALN.
Performance
TSDOX vs. FALN - Performance Comparison
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Returns By Period
In the year-to-date period, TSDOX achieves a 1.48% return, which is significantly lower than FALN's 2.24% return. Over the past 10 years, TSDOX has underperformed FALN with an annualized return of 2.64%, while FALN has yielded a comparatively higher 6.60% annualized return.
TSDOX
- 1D
- 0.00%
- 1M
- 0.32%
- YTD
- 1.48%
- 6M
- 1.87%
- 1Y
- 4.31%
- 3Y*
- 5.68%
- 5Y*
- 3.67%
- 10Y*
- 2.64%
FALN
- 1D
- -0.11%
- 1M
- 1.07%
- YTD
- 2.24%
- 6M
- 2.46%
- 1Y
- 7.88%
- 3Y*
- 9.39%
- 5Y*
- 3.76%
- 10Y*
- 6.60%
TSDOX vs. FALN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSDOX Touchstone Ultra Short Duration Fixed Income Fund | 1.48% | 4.73% | 6.87% | 5.75% | -0.37% | 0.20% | 1.25% | 3.07% | 1.63% | 1.32% |
FALN iShares Fallen Angels USD Bond ETF | 2.24% | 8.92% | 7.68% | 13.47% | -13.79% | 5.40% | 14.85% | 17.42% | -4.97% | 8.70% |
Correlation
The correlation between TSDOX and FALN is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2016 | 0.10 |
The correlation between TSDOX and FALN shifts across timeframes, from 0.10 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TSDOX vs. FALN — Risk / Return Rank
TSDOX
FALN
TSDOX vs. FALN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Touchstone Ultra Short Duration Fixed Income Fund (TSDOX) and iShares Fallen Angels USD Bond ETF (FALN). 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.
| TSDOX | FALN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | +6.74 | ||
| Omega ratioGain probability vs. loss probability | 3.44 | 1.33 | +2.11 |
| Calmar ratioReturn relative to maximum drawdown | 20.01 | 2.00 | +18.01 |
| Martin ratioReturn relative to average drawdown | 64.07 | 8.32 | +55.74 |
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Drawdowns
TSDOX vs. FALN - Drawdown Comparison
The maximum TSDOX drawdown since its inception was -5.27%, smaller than the maximum FALN drawdown of -29.22%. Use the drawdown chart below to compare losses from any high point for TSDOX and FALN.
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Drawdown Indicators
| TSDOX | FALN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.27% | -29.22% | +23.95% |
Max Drawdown (1Y)Largest decline over 1 year | -0.22% | -3.96% | +3.74% |
Max Drawdown (3Y)Largest decline over 3 years | -0.32% | -5.92% | +5.60% |
Max Drawdown (5Y)Largest decline over 5 years | -1.50% | -18.78% | +17.28% |
Max Drawdown (10Y)Largest decline over 10 years | -5.27% | -29.22% | +23.95% |
Current DrawdownCurrent decline from peak | -0.11% | -0.11% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.18% | -3.31% | +3.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 0.95% | -0.88% |
Volatility
TSDOX vs. FALN - Volatility Comparison
The current volatility for Touchstone Ultra Short Duration Fixed Income Fund (TSDOX) is 0.45%, while iShares Fallen Angels USD Bond ETF (FALN) has a volatility of 1.18%. This indicates that TSDOX experiences smaller price fluctuations and is considered to be less risky than FALN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSDOX | FALN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.45% | 1.18% | -0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 1.04% | 3.73% | -2.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.44% | 4.60% | -3.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.37% | 7.33% | -5.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.33% | 8.94% | -7.61% |
TSDOX vs. FALN - Expense Ratio Comparison
TSDOX has a 0.69% expense ratio, which is higher than FALN's 0.25% expense ratio.
Dividends
TSDOX vs. FALN - Dividend Comparison
TSDOX's dividend yield for the trailing twelve months is around 4.33%, less than FALN's 6.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FALN iShares Fallen Angels USD Bond ETF | 6.42% | 6.31% | 6.24% | 5.37% | 5.08% | 3.40% | 5.14% | 5.35% | 5.97% | 6.98% | 3.55% | 0.00% |
TSDOX Touchstone Ultra Short Duration Fixed Income Fund | 4.33% | 4.51% | 5.64% | 4.11% | 1.61% | 0.86% | 1.66% | 2.48% | 2.16% | 1.64% | 1.29% | 1.27% |
Frequently Asked Questions
TSDOX and FALN have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FALN has higher volatility (1.18%) compared to TSDOX (0.45%). In terms of maximum drawdown, TSDOX dropped -5.27% vs FALN's -29.22%.
TSDOX currently has the higher Sharpe Ratio (3.01 vs 1.72), 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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