Federated Hermes High Income Bond Fund (FHIIX) belongs to the High Yield Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with FHIIX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FHIIX
FHIIX charges 0.90% annually. There are 111 mutual funds in the High Yield Bonds category with lower expense ratios, going as low as 0.02%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Federated Hermes High-Yield Strategy Portfolio | 0.02% | — | Dec 2008 | FHIIX vs FHYSX | |
| Vanguard High-Yield Corporate Fund Admiral Shares | 0.12% | 25.80B | Nov 2001 | FHIIX vs VWEAX | |
| PIA High Yield (MACS) Fund | 0.20% | — | Dec 2017 | FHIIX vs PIAMX | |
| Vanguard High-Yield Corporate Fund Investor Shares | 0.22% | 25.80B | Dec 1978 | FHIIX vs VWEHX | |
| Six Circles Credit Opportunities Fund | 0.29% | — | Nov 2020 | FHIIX vs CRDOX |
Best Risk-Adjusted Alternatives to FHIIX
FHIIX has a PortfoliosLab risk / return rank of 36. There are 169 mutual funds in the High Yield Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 100 | — | Dec 2014 | FHIIX vs XILSX | |
| Cliffwater Corporate Lending Fund Class I Shares | 100 | — | Jun 2019 | FHIIX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 100 | — | Sep 2010 | FHIIX vs RPHIX | |
| Intrepid Income Fund | 97 | — | Aug 2010 | FHIIX vs ICMUX | |
| Penn Capital Short Duration High Income Fund | 97 | — | Jul 2017 | FHIIX vs PSHNX |
Top Performing FHIIX Alternatives (YTD)
FHIIX is at 0.42% YTD. There are 167 mutual funds in the High Yield Bonds category with higher YTD returns, going as high as 10.04%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 10.04% | — | Dec 2014 | FHIIX vs XILSX | |
| Fairholme Focused Income Fund | 9.48% | — | Dec 2009 | FHIIX vs FOCIX | |
| Fidelity Capital & Income Fund | 5.47% | — | Nov 1977 | FHIIX vs FAGIX | |
| Nuveen Global High Income Fund | 5.11% | — | Nov 2014 | FHIIX vs JGH | |
| Fidelity Advisor High Income Advantage Fund Class ... | 4.93% | — | Oct 2018 | FHIIX vs FIQTX |
Lowest Volatility Alternatives to FHIIX
FHIIX has 3.18% 1-year volatility. There are 85 mutual funds in the High Yield Bonds category with lower 1-year volatility, going as low as 0.83%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| RiverPark Short Term High Yield Fund | 0.83% | — | Sep 2010 | FHIIX vs RPHIX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.85% | — | Jun 2019 | FHIIX vs CCLFX | |
| Chartwell Short Duration High Yield Fund | 1.51% | — | Jul 2014 | FHIIX vs CWFIX | |
| Shenkman Capital Short Duration High Income Fund | 1.64% | — | Oct 2012 | FHIIX vs SCFIX | |
| Osterweis Strategic Income Fund | 1.77% | — | Aug 2002 | FHIIX vs OSTIX |
Lowest Drawdown Alternatives to FHIIX
FHIIX has a 1-year max drawdown of -2.51%. There are 107 mutual funds in the High Yield Bonds category with shallower 1-year drawdowns, going as shallow as -0.10%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| RiverPark Short Term High Yield Fund | -0.10% | — | Sep 2010 | FHIIX vs RPHIX | |
| Pioneer ILS Interval Fund | -0.10% | — | Dec 2014 | FHIIX vs XILSX | |
| Cliffwater Corporate Lending Fund Class I Shares | -0.19% | — | Jun 2019 | FHIIX vs CCLFX | |
| MainStay MacKay Short Duration High Yield Fund | -1.06% | — | Dec 2012 | FHIIX vs MDHVX | |
| Shenkman Capital Short Duration High Income Fund | -1.11% | — | Oct 2012 | FHIIX vs SCFIX |
Other Mutual Funds from Federated
The 10 most viewed Federated mutual funds shown here include SVAIX, QILGX, QAMNX and span 8 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Federated Hermes Strategic Value Dividend Fund | Large Cap Value Equities | 94 | 15.85% | — | Mar 2005 | FHIIX vs SVAIX | |
| Federated Hermes MDT Large Cap Growth Fund | Large Cap Growth Equities | 16 | 2.55% | — | Sep 2005 | FHIIX vs QILGX | |
| Federated Hermes MDT Market Neutral A | Long-Short | 54 | 4.61% | — | Sep 2008 | FHIIX vs QAMNX | |
| Federated Hermes MDT All Cap Core Fund | Large Cap Blend Equities | 53 | 8.33% | — | Oct 2002 | FHIIX vs QIACX | |
| Federated Hermes Kaufmann Fd | Mid Cap Growth Equities | 14 | 8.01% | — | Feb 1986 | FHIIX vs KAUFX | |
| Federated Hermes MDT Mid Cap Growth Fund | Mid Cap Growth Equities | 4 | -0.82% | — | Aug 1984 | FHIIX vs FGSAX | |
| Federated Hermes Opportunistic High Yield Bond Fun... | High Yield Bonds | 59 | 1.32% | — | Aug 1984 | FHIIX vs FHYTX | |
| Federated Hermes Institutional High Yield Bond Fun... | High Yield Bonds | 64 | 0.85% | — | Nov 2002 | FHIIX vs FIHBX | |
| Federated Hermes Prudent Bear Fd | Inverse Equities | 0 | -6.07% | — | Dec 1995 | FHIIX vs BEARX | |
| Federated Hermes International Small-Mid Company F... | Foreign Small & Mid Cap Equities | 33 | 8.26% | — | Feb 1996 | FHIIX vs ISCAX |
Often Compared With FHIIX
Investors most often compare FHIIX with PNGAX, POVSX, FMUSX. These 19 comparison targets span 8 categories, based on PortfoliosLab usage data.
Compare FHIIX with Any Fund or Stock
Compare FHIIX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FHIIX with funds that move differently
Federated Hermes High Income Bond Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FHIIX.
Explore FHIIX Diversifiers