USHY vs. FSYD
USHY (iShares Broad USD High Yield Corporate Bond ETF) and FSYD (Fidelity Sustainable High Yield ETF) are both High Yield Bonds funds. USHY is passively managed, while FSYD is actively managed. Over the past 3 years, USHY returned 9.18%/yr vs 9.71%/yr for FSYD. With a 0.95 correlation, they move nearly in lockstep. USHY charges 0.15%/yr vs 0.55%/yr for FSYD.
Performance
USHY vs. FSYD - Performance Comparison
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Returns By Period
In the year-to-date period, USHY achieves a 1.70% return, which is significantly lower than FSYD's 3.40% return.
USHY
- 1D
- -0.08%
- 1M
- 0.48%
- YTD
- 1.70%
- 6M
- 1.87%
- 1Y
- 6.34%
- 3Y*
- 9.18%
- 5Y*
- 4.15%
- 10Y*
- —
FSYD
- 1D
- -0.11%
- 1M
- 0.47%
- YTD
- 3.40%
- 6M
- 3.65%
- 1Y
- 9.25%
- 3Y*
- 9.71%
- 5Y*
- —
- 10Y*
- —
USHY vs. FSYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
USHY iShares Broad USD High Yield Corporate Bond ETF | 1.70% | 8.81% | 8.45% | 12.73% | -7.32% |
FSYD Fidelity Sustainable High Yield ETF | 3.40% | 9.09% | 8.74% | 12.22% | -6.63% |
Correlation
The correlation between USHY and FSYD is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Feb 17, 2022 | 0.95 |
The correlation between USHY and FSYD has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.
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Return for Risk
USHY vs. FSYD — Risk / Return Rank
USHY
FSYD
USHY vs. FSYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Broad USD High Yield Corporate Bond ETF (USHY) and Fidelity Sustainable High Yield ETF (FSYD). 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.
| USHY | FSYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.45 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | 3.47 | -0.85 |
| Martin ratioReturn relative to average drawdown | 11.73 | 13.85 | -2.12 |
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Drawdowns
USHY vs. FSYD - Drawdown Comparison
The maximum USHY drawdown since its inception was -22.44%, which is greater than FSYD's maximum drawdown of -12.11%. Use the drawdown chart below to compare losses from any high point for USHY and FSYD.
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Drawdown Indicators
| USHY | FSYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.44% | -12.11% | -10.33% |
Max Drawdown (1Y)Largest decline over 1 year | -2.43% | -2.67% | +0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -4.66% | -5.49% | +0.83% |
Max Drawdown (5Y)Largest decline over 5 years | -15.56% | — | — |
Current DrawdownCurrent decline from peak | -0.19% | -0.38% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -2.65% | -2.38% | -0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 0.67% | -0.13% |
Volatility
USHY vs. FSYD - Volatility Comparison
iShares Broad USD High Yield Corporate Bond ETF (USHY) and Fidelity Sustainable High Yield ETF (FSYD) have volatilities of 0.95% and 0.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USHY | FSYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 0.98% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 3.17% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.68% | 4.12% | -0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.35% | 7.81% | -0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.23% | 7.81% | +0.42% |
USHY vs. FSYD - Expense Ratio Comparison
USHY has a 0.15% expense ratio, which is lower than FSYD's 0.55% expense ratio.
Dividends
USHY vs. FSYD - Dividend Comparison
USHY's dividend yield for the trailing twelve months is around 6.90%, more than FSYD's 6.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FSYD Fidelity Sustainable High Yield ETF | 6.32% | 6.49% | 6.47% | 6.70% | 5.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.90% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% |
Frequently Asked Questions
USHY and FSYD have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSYD has higher volatility (0.98%) compared to USHY (0.95%). In terms of maximum drawdown, USHY dropped -22.44% vs FSYD's -12.11%.
On 3-year performance, FSYD leads with 9.71% vs 9.18% for USHY. On fees, USHY is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FSYD has performed better with a 9.71% return vs 9.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USHY is cheaper with a 0.15% expense ratio, compared with 0.55% for FSYD.
USHY has the higher dividend yield at 6.90%, compared with 6.32% for FSYD.
They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.15% for USHY and 0.55% for FSYD.
FSYD currently has the higher Sharpe Ratio (2.26 vs 1.73), 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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