- Issuer
- Federated
- Inception Date
- Feb 2, 2021
- Category
- Ultrashort Bond
- Min. Investment
- $1,000,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
FHCOX Performance Chart
Federated Hermes Conservative Microshort Fund (FHCOX) is up 1.4% since the beginning of the year. FHCOX is currently trading at $10 per share. Investors who bought $1,000 worth of FHCOX shares 5 years ago would now be looking at an investment worth $1,184.
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Returns By Period
Federated Hermes Conservative Microshort Fund (FHCOX) has returned 1.43% so far this year and 4.38% over the past 12 months.
Federated Hermes Conservative Microshort Fund
- 1D
- 0.00%
- 1M
- 0.34%
- YTD
- 1.43%
- 6M
- 1.80%
- 1Y
- 4.38%
- 3Y*
- 4.94%
- 5Y*
- 3.44%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
FHCOX Monthly Returns History
Based on dividend-adjusted daily data since Feb 25, 2021, FHCOX's average daily return is +0.01%, while the average monthly return is +0.26%. At this rate, an investment would double in approximately 22.2 years.
Historically, 82% of months were positive and 18% were negative. The best month was Jul 2023 with a return of +1.1%, while the worst month was Jun 2023 at -0.2%. The longest winning streak lasted 31 consecutive months, and the longest losing streak was 6 months.
On a daily basis, FHCOX closed higher 11% of trading days. The best single day was Jul 3, 2023 with a return of +0.6%, while the worst single day was Jan 21, 2025 at -0.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.26% | 0.43% | 0.15% | 0.34% | 0.34% | -0.10% | 1.43% | ||||||
| 2025 | 0.62% | 0.28% | 0.39% | 0.18% | 0.40% | 0.49% | 0.39% | 0.49% | 0.48% | 0.28% | 0.47% | 0.37% | 4.94% |
| 2024 | 0.49% | 0.36% | 0.57% | 0.46% | 0.48% | 0.46% | 0.56% | 0.10% | 0.55% | 0.34% | 0.42% | 0.42% | 5.34% |
| 2023 | 0.45% | 0.33% | 0.37% | 0.10% | 0.41% | -0.20% | 1.14% | 0.56% | 0.46% | 0.00% | 0.48% | 0.58% | 4.80% |
| 2022 | -0.07% | -0.07% | -0.07% | -0.16% | 0.17% | -0.10% | 0.10% | 0.08% | -0.00% | 0.15% | 0.39% | 0.33% | 0.76% |
| 2021 | 0.03% | 0.03% | 0.03% | 0.02% | 0.02% | 0.12% | 0.11% | -0.08% | 0.02% | -0.08% | -0.08% | 0.14% |
Benchmark Metrics
Federated Hermes Conservative Microshort Fund has an annualized alpha of 3.24%, beta of 0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since February 25, 2021.
- This fund captured 6.70% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -5.77%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.00 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.24%
- Beta
- 0.00
- R²
- 0.00
- Upside Capture
- 6.70%
- Downside Capture
- -5.77%
Expense Ratio
FHCOX has an expense ratio of 0.05%, which is considered low.
Return for Risk
Risk / Return Rank
FHCOX ranks 99 for risk / return — in the top 99% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Federated Hermes Conservative Microshort Fund (FHCOX) and compare them to S&P 500 Index.
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.
| FHCOX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.46 | ||
| Sortino ratioReturn per unit of downside risk | +8.70 | ||
| Omega ratioGain probability vs. loss probability | 3.87 | 1.32 | +2.55 |
| Calmar ratioReturn relative to maximum drawdown | 14.70 | 2.46 | +12.24 |
| Martin ratioReturn relative to average drawdown | 74.06 | 10.92 | +63.15 |
Dividends
Dividend History
Federated Hermes Conservative Microshort Fund provided a 4.39% dividend yield over the last twelve months, with an annual payout of $0.44 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $0.44 | $0.46 | $0.50 | $0.42 | $0.13 | $0.02 |
Dividend yield | 4.39% | 4.61% | 4.99% | 4.17% | 1.26% | 0.24% |
Monthly Dividends
The table displays the monthly dividend distributions for Federated Hermes Conservative Microshort Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.00 | $0.17 | ||||||
| 2025 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.46 |
| 2024 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.00 | $0.04 | $0.04 | $0.04 | $0.04 | $0.50 |
| 2023 | $0.04 | $0.03 | $0.04 | $0.00 | $0.04 | $0.04 | $0.04 | $0.05 | $0.05 | $0.00 | $0.05 | $0.05 | $0.42 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.02 | $0.00 | $0.03 | $0.03 | $0.03 | $0.13 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Federated Hermes Conservative Microshort Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Federated Hermes Conservative Microshort Fund was 0.59%, occurring on Apr 29, 2022. Recovery took 148 trading sessions.
The current Federated Hermes Conservative Microshort Fund drawdown is 0.10%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -0.59%Apr 2022 | 7mo 15d | 7mo 5d | 1y 2moSep 2021 - Nov 2022 |
2025 pullback2025 | -0.50%Jan 2025 | 0s | 10d | 10dJan 2025 - Jan 2025 |
2024 pullback2024 | -0.40%Dec 2024 | 0s | 3d | 3dDec 2024 - Dec 2024 |
2024 pullback2024 | -0.40%Nov 2024 | 0s | 18d | 18dNov 2024 - Nov 2024 |
2023 pullback2023 | -0.30%May 2023 | 0s | 12d | 12dMay 2023 - May 2023 |
Drawdown Indicators
| FHCOX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.59% | -56.78% | +56.19% |
Max Drawdown (1Y)Largest decline over 1 year | -0.30% | -9.10% | +8.80% |
Max Drawdown (3Y)Largest decline over 3 years | -0.50% | -18.90% | +18.40% |
Max Drawdown (5Y)Largest decline over 5 years | -0.59% | -25.43% | +24.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.10% | -3.21% | +3.11% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -10.71% | +10.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | 2.04% | -1.98% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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