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Federated Hermes Total Return Bond Fund Institutional Shares (FTRBX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jul 14, 2026

Federated Hermes Total Return Bond Fund (FTRBX) aims to achieve its investment objective by primarily investing in U.S. dollar-denominated, investment-grade fixed-income securities. Additionally, it may allocate assets to high-yield, non-U.S. dollar denominated, and emerging market fixed-income securities. However, the fund will typically not hold more than 10% of its assets in unhedged non-U.S. dollar denominated fixed-income securities.

Looking to diversify beyond FTRBX? The mutual funds below have the lowest correlation with FTRBX — 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 FTRBX.

Best Diversifiers for FTRBX

1 mutual funds have low correlation with FTRBX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Strategic Value Dividend Fund (SVAIX) (Large Cap Value Equities) with a 1Y correlation of 0.16, roughly unchanged from 0.18 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
SVAIX
Federated Hermes Strategic Value Dividend Fund0.160.260.18
84
Large Cap Value EquitiesFTRBX vs SVAIX
STWTX
Hartford Schroders Tax-Aware Bond Fund0.420.590.61
61
Intermediate Core BondFTRBX vs STWTX
PCGTX
PACE Mortgage-Backed Securities Fixed Income Inves...0.430.700.79
55
Intermediate Core BondFTRBX vs PCGTX
FHYSX
Federated Hermes High-Yield Strategy Portfolio0.470.540.48
76
High Yield BondsFTRBX vs FHYSX
FHYTX
Federated Hermes Opportunistic High Yield Bond Fun...0.520.540.46
53
High Yield BondsFTRBX vs FHYTX
See all 7 diversifiers for FTRBX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from FTRBX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FTRBX and solid risk/return profiles. The least correlated is Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of 0.13, roughly unchanged from 0.05 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
BRK-B
Berkshire Hathaway Inc.0.130.070.05
53
Financial Services

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Diversification Analysis

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