- Issuer
- Federated Hermes
- Inception Date
- Oct 7, 2025
- Region
- North America (U.S.)
- Category
- Derivative Income
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- US
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
PAYR Performance Chart
Federated Hermes Enhanced Income ETF (PAYR) is up 8.0% since the beginning of the year. PAYR is currently trading at $53 per share.
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Returns By Period
Federated Hermes Enhanced Income ETF
- 1D
- -0.68%
- 1M
- -2.31%
- YTD
- 7.96%
- 6M
- 8.82%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.00%
- 1M
- -0.71%
- YTD
- 8.39%
- 6M
- 8.57%
- 1Y
- 24.33%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.54%
PAYR Monthly Returns History
Based on dividend-adjusted daily data since Oct 8, 2025, PAYR's average daily return is +0.06%, while the average monthly return is +1.26%. At this rate, an investment would double in approximately 4.6 years.
Historically, 67% of months were positive and 33% were negative. The best month was Feb 2026 with a return of +6.5%, while the worst month was Mar 2026 at -3.4%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 1 months.
On a daily basis, PAYR closed higher 53% of trading days. The best single day was May 18, 2026 with a return of +2.4%, while the worst single day was Jun 17, 2026 at -2.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.31% | 6.48% | -3.38% | 1.01% | -1.36% | 0.00% | 7.96% | ||||||
| 2025 | -0.98% | 3.34% | 0.95% | 3.30% |
Benchmark Metrics
Federated Hermes Enhanced Income ETF has an annualized alpha of 15.85%, beta of 0.10, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since October 08, 2025.
- This ETF captured 33.79% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -54.77%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.10 may look defensive, but with R2 of 0.02 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.02 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 15.85%
- Beta
- 0.10
- R²
- 0.02
- Upside Capture
- 33.79%
- Downside Capture
- -54.77%
Expense Ratio
PAYR has an expense ratio of 0.40%, placing it in the medium range.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Federated Hermes Enhanced Income ETF (PAYR) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PAYR | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.35 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.66 | — |
| Martin ratioReturn relative to average drawdown | — | 11.86 | — |
Dividends
Dividend History
Federated Hermes Enhanced Income ETF provided a 5.43% dividend yield over the last twelve months, with an annual payout of $2.86 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $2.86 | $1.01 |
Dividend yield | 5.43% | 1.99% |
Monthly Dividends
The table displays the monthly dividend distributions for Federated Hermes Enhanced Income ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.29 | $0.33 | $0.57 | $0.18 | $0.49 | $0.00 | $1.86 | ||||||
| 2025 | $0.16 | $0.43 | $0.41 | $1.01 |
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 Enhanced Income ETF. 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 Enhanced Income ETF was 5.24%, occurring on Mar 20, 2026. The portfolio has not yet recovered.
The current Federated Hermes Enhanced Income ETF drawdown is 4.11%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 pullback2026 | -5.24%Mar 2026 | 17d | — | 3mo 21dMar 2026 - now |
2025 pullback2025 | -2.50%Nov 2025 | 12d | 7d | 19dOct 2025 - Nov 2025 |
2025 pullback2025 | -1.55%Dec 2025 | 10d | 7d | 17dNov 2025 - Dec 2025 |
2025 pullback2025 | -1.42%Nov 2025 | 7d | 5d | 12dNov 2025 - Nov 2025 |
2025 pullback2025 | -1.20%Oct 2025 | 2d | 7d | 9dOct 2025 - Oct 2025 |
Drawdown Indicators
| PAYR | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.24% | -56.78% | +51.54% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -4.11% | -2.49% | -1.62% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -10.72% | +9.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.03% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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