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Federated Hermes SDG Engagement Equity Fund (FHESX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 24, 2026

The investment seeks to provide long term capital appreciation alongside positive societal impact. The fund pursues its investment objective of long-term capital appreciation alongside positive societal impact by investing, normally, at least 80% of its net assets in equity securities. The fund's investment adviser or sub-adviser anticipates that the fund will be primarily invested in equity securities and equity-related securities (such as depositary receipts) of small- and mid-capitalization companies in both the United States and foreign markets (including emerging markets).

Looking to diversify beyond FHESX? The mutual funds below have the lowest correlation with FHESX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from FHESX.

Best Diversifiers for FHESX

1 mutual funds have low correlation with FHESX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes High-Yield Strategy Portfolio (FHYSX) (High Yield Bonds) with a 1Y correlation of 0.26, down from 0.46 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
FHYSX
Federated Hermes High-Yield Strategy Portfolio0.260.380.46
67
High Yield BondsFHESX vs FHYSX
FIHBX
Federated Hermes Institutional High Yield Bond Fun...0.340.430.49
61
High Yield BondsFHESX vs FIHBX
CSUAX
Cohen & Steers Global Infrastructure Fund Class A0.360.500.61
52
Global EquitiesFHESX vs CSUAX
FHYTX
Federated Hermes Opportunistic High Yield Bond Fun...0.370.490.58
52
High Yield BondsFHESX vs FHYTX
SVAIX
Federated Hermes Strategic Value Dividend Fund0.390.530.62
80
Large Cap Value EquitiesFHESX vs SVAIX
See all 29 diversifiers for FHESX

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