FIHBX Alternatives & Similar Mutual Funds

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
FHYSX	Federated Hermes High-Yield Strategy Portfolio	0.02%	—	Dec 2008	FIHBX vs FHYSX
VWEAX	Vanguard High-Yield Corporate Fund Admiral Shares	0.12%	25.80B	Nov 2001	FIHBX vs VWEAX
PIAMX	PIA High Yield (MACS) Fund	0.20%	—	Dec 2017	FIHBX vs PIAMX
VWEHX	Vanguard High-Yield Corporate Fund Investor Shares	0.22%	25.80B	Dec 1978	FIHBX vs VWEHX
CRDOX	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 67. There are 111 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
XILSX	Pioneer ILS Interval Fund	100	—	Dec 2014	FIHBX vs XILSX
CCLFX	Cliffwater Corporate Lending Fund	100	—	Mar 2019	FIHBX vs CCLFX
RPHIX	RiverPark Short Term High Yield Fund	100	—	Sep 2010	FIHBX vs RPHIX
CWFIX	Chartwell Short Duration High Yield Fund	97	—	Jul 2014	FIHBX vs CWFIX
PSHNX	Penn Capital Short Duration High Income Fund	97	—	Jul 2017	FIHBX vs PSHNX

Top Performing FIHBX Alternatives (YTD)

FIHBX is at 1.54% YTD. There are 129 mutual funds in the High Yield Bonds category with higher YTD returns, going as high as 9.42%.

Symbol	Name	YTD Return	AUM	Inception
XILSX	Pioneer ILS Interval Fund	9.42%	—	Dec 2014	FIHBX vs XILSX
FOCIX	Fairholme Focused Income Fund	8.79%	—	Dec 2009	FIHBX vs FOCIX
FAGIX	Fidelity Capital & Income Fund	7.46%	—	Nov 1977	FIHBX vs FAGIX
FIQTX	Fidelity Advisor High Income Advantage Fund Class ...	6.76%	—	Oct 2018	FIHBX vs FIQTX
FAHCX	Fidelity Advisor High Income Advantage Fund Class ...	6.70%	—	Jul 1995	FIHBX vs FAHCX

Lowest Volatility Alternatives to FIHBX

FIHBX has 3.39% 1-year volatility. There are 116 mutual funds in the High Yield Bonds category with lower 1-year volatility, going as low as 0.85%.

Symbol	Name	Volatility 1Y	AUM	Inception
RPHIX	RiverPark Short Term High Yield Fund	0.85%	—	Sep 2010	FIHBX vs RPHIX
CCLFX	Cliffwater Corporate Lending Fund	0.85%	—	Mar 2019	FIHBX vs CCLFX
CWFIX	Chartwell Short Duration High Yield Fund	1.50%	—	Jul 2014	FIHBX vs CWFIX
SCFIX	Shenkman Capital Short Duration High Income Fund	1.63%	—	Oct 2012	FIHBX vs SCFIX
OSTIX	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
RPHIX	RiverPark Short Term High Yield Fund	-0.10%	—	Sep 2010	FIHBX vs RPHIX
CCLFX	Cliffwater Corporate Lending Fund	-0.19%	—	Mar 2019	FIHBX vs CCLFX
XILSX	Pioneer ILS Interval Fund	-0.21%	—	Dec 2014	FIHBX vs XILSX
MDHVX	MainStay MacKay Short Duration High Yield Fund	-1.06%	—	Dec 2012	FIHBX vs MDHVX
SCFIX	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 9 categories.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
SVAIX	Federated Hermes Strategic Value Dividend Fund	Large Cap Value Equities	84	12.44%	—	Mar 2005	FIHBX vs SVAIX
QILGX	Federated Hermes MDT Large Cap Growth Fund	Large Cap Growth Equities	20	6.34%	—	Sep 2005	FIHBX vs QILGX
QAMNX	Federated Hermes MDT Market Neutral A	Long-Short	14	1.36%	—	Sep 2008	FIHBX vs QAMNX
KAUFX	Federated Hermes Kaufmann Fd	Mid Cap Growth Equities	15	11.21%	—	Feb 1986	FIHBX vs KAUFX
QIACX	Federated Hermes MDT All Cap Core Fund	Large Cap Blend Equities	48	8.33%	—	Oct 2002	FIHBX vs QIACX
FGSAX	Federated Hermes MDT Mid Cap Growth Fund	Mid Cap Growth Equities	4	0.77%	—	Aug 1984	FIHBX vs FGSAX
FHYTX	Federated Hermes Opportunistic High Yield Bond Fun...	High Yield Bonds	53	1.79%	—	Aug 1984	FIHBX vs FHYTX
BEARX	Federated Hermes Prudent Bear Fd	Inverse Equities	0	-8.18%	—	Dec 1995	FIHBX vs BEARX
ISCAX	Federated Hermes International Small-Mid Company F...	Foreign Small & Mid Cap Equities	24	8.80%	—	Feb 1996	FIHBX vs ISCAX
IVFIX	Federated Hermes International Strategic Value Div...	Foreign Large Cap Equities	63	8.85%	—	Jun 2008	FIHBX vs IVFIX

Often Compared With FIHBX

Investors most often compare FIHBX with PIMIX, BKLN, FEPIX. These 20 comparison targets span 14 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
PIMIX	PIMCO Income Fund Institutional Class	Multisector Bonds	50	1.07%	—	Mar 2007	FIHBX vs PIMIX
BKLN	Invesco Senior Loan ETF	Bank Loan	47	0.36%	7.19B	Mar 2011	FIHBX vs BKLN
FEPIX	Fidelity Total Bond Fund	Total Bond Market	21	0.15%	—	—	FIHBX vs FEPIX
MNHYX	Manning & Napier High Yield Bond Series	High Yield Bonds	86	2.97%	—	Sep 2009	FIHBX vs MNHYX
PFORX	PIMCO International Bond Fund (U.S. Dollar-Hedged)	Global Bonds	12	0.24%	—	Dec 1992	FIHBX vs PFORX
WATFX	Western Asset Core Bond Fund	Intermediate Core Bond	17	-0.45%	—	Sep 1990	FIHBX vs WATFX
FFRHX	Fidelity Floating Rate High Income Fund	Bank Loan	93	2.14%	—	Aug 2000	FIHBX vs FFRHX
SCHY	Schwab International Dividend Equity ETF	Dividend, Foreign Large Cap Equities	62	9.51%	2.36B	Apr 2021	FIHBX vs SCHY
JNK	State Street SPDR Bloomberg High Yield Bond ETF	High Yield Bonds	64	1.82%	7.35B	Nov 2007	FIHBX vs JNK
BNDX	Vanguard Total International Bond ETF	Global Bonds	19	0.48%	122.00B	May 2013	FIHBX vs BNDX
QISGX	Federated Hermes MDT Small Cap Growth Fund	Small Cap Growth Equities	74	22.19%	—	Sep 2005	FIHBX vs QISGX
FHESX	Federated Hermes SDG Engagement Equity Fund	Global Equities	10	10.39%	—	Nov 2018	FIHBX vs FHESX
FTKFX	Fidelity Total Bond K6 Fund	Total Bond Market	24	0.38%	—	May 2017	FIHBX vs FTKFX
FKASX	Federated Hermes Kaufmann Small Cap Fund	Small Cap Growth Equities	23	13.98%	—	Dec 2002	FIHBX vs FKASX
QISCX	Federated Hermes MDT Small Cap Core Fund	Small Cap Blend Equities	61	19.71%	—	Sep 2005	FIHBX vs QISCX
XPTFX	Federated Hermes Project and Trade Finance Tender ...	Bank Loan	91	3.54%	—	Jan 2017	FIHBX vs XPTFX
ISHIX	Federated Hermes Corporate Bond Fund	Corporate Bonds	16	-0.44%	—	May 1987	FIHBX vs ISHIX
FULBX	Federated Hermes Ultra Short Bond Fund	Ultrashort Bond	98	1.65%	—	May 1997	FIHBX vs FULBX
FTRBX	Federated Hermes Total Return Bond Fund Institutio...	Intermediate Core Bond	23	-0.22%	—	Oct 1996	FIHBX vs FTRBX
QQMNX	Federated Hermes MDT Market Neutral Fund Instituti...	Equity Market Neutral	14	1.50%	—	Sep 2008	FIHBX vs QQMNX

Compare FIHBX with Any Fund or Stock

Compare FIHBX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

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Diversifiers

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

Federated Hermes Institutional High Yield Bond Fund (FIHBX) Alternatives