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Federated Hermes High Income Bond Fund (FHIIX)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Federated Hermes High Income Bond Fund (FHIIX)

Mutual Fund · Currency in USD · Last updated May 31, 2025

The fund pursues its investment objective by investing primarily in a diversified portfolio of high-yield, lower-rated corporate bonds (also known as "junk bonds"). It primarily invests in domestic high-yield, lower-rated bonds, but may invest a portion of its portfolio in securities of issuers based outside of the United States (so-called "foreign securities") in both emerging and developed markets. The fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in lower-rated fixed-income investments.

Fund Info

ISIN

US3141951083

CUSIP

314195108

Issuer

Federated

Inception Date

Nov 30, 1977

Category

High Yield Bonds

Min. Investment

$1,500

Asset Class

Bond

Expense Ratio

FHIIX has an expense ratio of 0.90%, placing it in the medium range.

Share Price Chart

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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Federated Hermes High Income Bond Fund

Performance

Performance Chart

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S&P 500

Returns By Period

Federated Hermes High Income Bond Fund (FHIIX) returned 3.02% year-to-date (YTD) and 8.53% over the past 12 months. Over the past 10 years, FHIIX returned 4.25% annually, underperforming the S&P 500 benchmark at 10.85%.

FHIIX

YTD

3.02%

1M

1.34%

6M

2.54%

1Y

8.53%

3Y*

5.52%

5Y*

4.66%

10Y*

4.25%

^GSPC (Benchmark)

YTD

0.51%

1M

6.15%

6M

-2.00%

1Y

12.92%

3Y*

12.68%

5Y*

14.19%

10Y*

10.85%

*Annualized

Monthly Returns

The table below presents the monthly returns of FHIIX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20251.32%0.54%-0.94%0.74%1.34%3.02%
20240.12%-0.49%1.33%-1.05%1.04%1.21%1.65%1.50%1.20%-0.87%0.90%-0.47%6.17%
20233.91%-1.39%1.05%1.10%-1.51%1.60%1.43%0.16%-1.54%-1.26%4.98%3.52%12.44%
2022-2.55%-0.87%-0.74%-3.76%0.14%-6.57%5.51%-2.70%-4.18%3.11%1.76%-0.93%-11.71%
20210.20%0.47%0.35%0.91%0.25%1.32%0.25%0.38%-0.01%-0.55%-0.80%1.85%4.67%
2020-0.28%-1.75%-10.41%3.88%5.08%0.17%4.57%0.82%-0.94%0.41%3.29%1.85%5.89%
20194.76%1.67%0.82%1.40%-1.30%2.23%0.46%0.31%0.44%0.33%0.04%2.47%14.38%
20180.39%-0.92%-0.81%0.58%-0.09%0.33%1.00%0.72%0.46%-1.58%-0.64%-2.48%-3.06%
20171.20%1.57%-0.36%1.10%0.96%0.29%1.10%-0.21%0.82%0.05%-0.34%0.18%6.53%
2016-1.15%0.91%3.65%3.03%0.45%0.72%2.36%1.91%0.55%-0.12%-0.52%1.77%14.30%
20150.84%2.02%-0.38%0.97%0.32%-1.38%0.17%-1.41%-2.26%2.71%-2.41%-2.35%-3.27%
20140.61%1.75%0.34%0.33%0.71%0.61%-1.58%1.75%-2.07%1.50%-0.41%-1.35%2.12%
Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

With an overall rank of 95, FHIIX is among the top 5% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.

The Risk-Adjusted Performance Rank of FHIIX is 9595
Overall Rank
The Sharpe Ratio Rank of FHIIX is 9696
Sharpe Ratio Rank
The Sortino Ratio Rank of FHIIX is 9494
Sortino Ratio Rank
The Omega Ratio Rank of FHIIX is 9494
Omega Ratio Rank
The Calmar Ratio Rank of FHIIX is 9494
Calmar Ratio Rank
The Martin Ratio Rank of FHIIX is 9595
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for Federated Hermes High Income Bond Fund (FHIIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

Federated Hermes High Income Bond Fund Sharpe ratios as of May 31, 2025 (values are recalculated daily):

  • 1-Year: 2.76
  • 5-Year: 0.91
  • 10-Year: 0.75
  • All Time: 1.63

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of Federated Hermes High Income Bond Fund compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

Dividend History

Federated Hermes High Income Bond Fund provided a 5.31% dividend yield over the last twelve months, with an annual payout of $0.36 per share.

4.50%5.00%5.50%6.00%$0.00$0.10$0.20$0.30$0.4020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$0.36$0.36$0.37$0.36$0.35$0.38$0.40$0.40$0.40$0.38$0.41$0.45

Dividend yield

5.31%5.38%5.51%5.73%4.59%4.96%5.31%5.75%5.29%5.12%5.95%5.94%

Monthly Dividends

The table displays the monthly dividend distributions for Federated Hermes High Income Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.03$0.03$0.03$0.03$0.03$0.14
2024$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.04$0.36
2023$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.04$0.37
2022$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.04$0.36
2021$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.04$0.35
2020$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.04$0.38
2019$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.04$0.40
2018$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.04$0.40
2017$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.04$0.40
2016$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.04$0.38
2015$0.03$0.03$0.03$0.03$0.04$0.03$0.03$0.03$0.03$0.03$0.03$0.04$0.41
2014$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.05$0.45

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 High Income Bond 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 High Income Bond Fund was 32.61%, occurring on Dec 12, 2008. Recovery took 186 trading sessions.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-32.61%Oct 16, 2007294Dec 12, 2008186Sep 10, 2009480
-21.19%Feb 18, 202025Mar 23, 202094Aug 5, 2020119
-21.18%Aug 25, 1989306Nov 8, 199046Mar 21, 1991352
-17.12%May 5, 1999864Oct 10, 2002163Jun 5, 20031027
-15.38%Sep 20, 2021260Sep 29, 2022369Mar 22, 2024629
Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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