Federated Hermes Institutional High Yield Bond Fund (FIHBX) 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 FIHBX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FIHBX
FIHBX charges 0.50% annually. There are 14 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 | FIHBX vs FHYSX | |
| Vanguard High-Yield Corporate Fund Admiral Shares | 0.12% | 25.80B | Nov 2001 | FIHBX vs VWEAX | |
| PIA High Yield (MACS) Fund | 0.20% | — | Dec 2017 | FIHBX vs PIAMX | |
| Vanguard High-Yield Corporate Fund Investor Shares | 0.22% | 25.80B | Dec 1978 | FIHBX vs VWEHX | |
| Six Circles Credit Opportunities Fund | 0.29% | — | Nov 2020 | FIHBX vs CRDOX |
Best Risk-Adjusted Alternatives to FIHBX
FIHBX has a PortfoliosLab risk / return rank of 61. There are 120 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 | FIHBX vs XILSX | |
| Cliffwater Corporate Lending Fund | 100 | — | Mar 2019 | FIHBX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 100 | — | Sep 2010 | FIHBX vs RPHIX | |
| Chartwell Short Duration High Yield Fund | 96 | — | Jul 2014 | FIHBX vs CWFIX | |
| Penn Capital Short Duration High Income Fund | 96 | — | Jul 2017 | FIHBX vs PSHNX |
Top Performing FIHBX Alternatives (YTD)
FIHBX is at 1.04% YTD. There are 144 mutual funds in the High Yield Bonds category with higher YTD returns, going as high as 8.81%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Fidelity Capital & Income Fund | 8.81% | — | Nov 1977 | FIHBX vs FAGIX | |
| Pioneer ILS Interval Fund | 8.39% | — | Dec 2014 | FIHBX vs XILSX | |
| Fidelity Advisor High Income Advantage Fund Class ... | 7.99% | — | Oct 2018 | FIHBX vs FIQTX | |
| Fidelity Advisor High Income Advantage Fund Class ... | 7.94% | — | Jul 1995 | FIHBX vs FAHCX | |
| Fidelity Advisor High Income Advantage Fund Class ... | 7.76% | — | Jan 1987 | FIHBX vs FAHYX |
Lowest Volatility Alternatives to FIHBX
FIHBX has 3.43% 1-year volatility. There are 114 mutual funds in the High Yield Bonds category with lower 1-year volatility, going as low as 0.88%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Cliffwater Corporate Lending Fund | 0.88% | — | Mar 2019 | FIHBX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.88% | — | Sep 2010 | FIHBX vs RPHIX | |
| Chartwell Short Duration High Yield Fund | 1.51% | — | Jul 2014 | FIHBX vs CWFIX | |
| Shenkman Capital Short Duration High Income Fund | 1.64% | — | Oct 2012 | FIHBX vs SCFIX | |
| Osterweis Strategic Income Fund | 1.70% | — | Aug 2002 | FIHBX vs OSTIX |
Lowest Drawdown Alternatives to FIHBX
FIHBX has a 1-year max drawdown of -2.45%. There are 89 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 | FIHBX vs RPHIX | |
| Cliffwater Corporate Lending Fund | -0.19% | — | Mar 2019 | FIHBX vs CCLFX | |
| Pioneer ILS Interval Fund | -0.21% | — | Dec 2014 | FIHBX vs XILSX | |
| MainStay MacKay Short Duration High Yield Fund | -1.06% | — | Dec 2012 | FIHBX vs MDHVX | |
| Shenkman Capital Short Duration High Income Fund | -1.11% | — | Oct 2012 | FIHBX 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 | 80 | 9.26% | — | Mar 2005 | FIHBX vs SVAIX | |
| Federated Hermes MDT Large Cap Growth Fund | Large Cap Growth Equities | 21 | 4.35% | — | Sep 2005 | FIHBX vs QILGX | |
| Federated Hermes MDT Market Neutral A | Long-Short | 7 | -1.17% | — | Sep 2008 | FIHBX vs QAMNX | |
| Federated Hermes Kaufmann Fd | Mid Cap Growth Equities | 17 | 10.68% | — | Feb 1986 | FIHBX vs KAUFX | |
| Federated Hermes MDT All Cap Core Fund | Large Cap Blend Equities | 46 | 5.68% | — | Oct 2002 | FIHBX vs QIACX | |
| Federated Hermes MDT Mid Cap Growth Fund | Mid Cap Growth Equities | 4 | 0.10% | — | Aug 1984 | FIHBX vs FGSAX | |
| Federated Hermes Prudent Bear Fd | Inverse Equities | 0 | -7.65% | — | Dec 1995 | FIHBX vs BEARX | |
| Federated Hermes Opportunistic High Yield Bond Fun... | High Yield Bonds | 52 | 1.34% | — | Aug 1984 | FIHBX vs FHYTX | |
| Federated Hermes International Small-Mid Company F... | Foreign Small & Mid Cap Equities | 37 | 10.85% | — | Feb 1996 | FIHBX vs ISCAX | |
| Federated Hermes Max Cap Index Fund | Large Cap Blend Equities | 76 | 9.68% | — | Jul 1990 | FIHBX vs FISPX |
Often Compared With FIHBX
Investors most often compare FIHBX with PIMIX, BKLN, FEPIX. These 20 comparison targets span 13 categories, based on PortfoliosLab usage data.
Compare FIHBX with Any Fund or Stock
Compare FIHBX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FIHBX with funds that move differently
Federated Hermes Institutional High Yield Bond Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FIHBX.
Explore FIHBX Diversifiers