AHYB vs. FHYTX

Last updated Jun 4, 2026

AHYB (American Century Select High Yield ETF) and FHYTX (Federated Hermes Opportunistic High Yield Bond Fund) are both High Yield Bonds funds. Over the past 3 years, AHYB returned 7.88%/yr vs 8.35%/yr for FHYTX. A 0.62 correlation means they provide meaningful diversification when combined. AHYB charges 0.45%/yr vs 0.98%/yr for FHYTX.

Performance

AHYB vs. FHYTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Select High Yield ETF (AHYB) and Federated Hermes Opportunistic High Yield Bond Fund (FHYTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AHYB achieves a 1.13% return, which is significantly lower than FHYTX's 1.50% return.

AHYB

• 1D: -0.23%
• 1M: 0.35%
• YTD: 1.13%
• 6M: 1.68%
• 1Y: 6.54%
• 3Y*: 7.88%
• 5Y*: —
• 10Y*: —

FHYTX

• 1D: 0.15%
• 1M: 1.05%
• YTD: 1.50%
• 6M: 2.43%
• 1Y: 7.36%
• 3Y*: 8.35%
• 5Y*: 3.19%
• 10Y*: 6.29%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AHYB vs. FHYTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AHYB American Century Select High Yield ETF	1.13%	8.96%	6.32%	11.69%	-10.26%	0.84%
FHYTX Federated Hermes Opportunistic High Yield Bond Fund	1.50%	8.40%	6.24%	13.22%	-13.45%	1.25%

Correlation

The correlation between AHYB and FHYTX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (All Time) Calculated using the full available price history since Nov 19, 2021	0.62

Over the past year, the correlation between AHYB and FHYTX has dropped to 0.26 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.

Return for Risk

AHYB vs. FHYTX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AHYB

AHYB Risk / Return Rank: 62
AHYB Sharpe Ratio Rank: 59
AHYB Sortino Ratio Rank: 63
AHYB Omega Ratio Rank: 64
AHYB Calmar Ratio Rank: 56
AHYB Martin Ratio Rank: 69

FHYTX

FHYTX Risk / Return Rank: 59
FHYTX Sharpe Ratio Rank: 48
FHYTX Sortino Ratio Rank: 58
FHYTX Omega Ratio Rank: 73
FHYTX Calmar Ratio Rank: 49
FHYTX Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AHYB vs. FHYTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Select High Yield ETF (AHYB) and Federated Hermes Opportunistic High Yield Bond Fund (FHYTX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AHYB	FHYTX	Difference
Sharpe ratio Return per unit of total volatility	1.96	2.03	-0.07
Sortino ratio Return per unit of downside risk	2.93	3.20	-0.27
Omega ratio Gain probability vs. loss probability	1.39	1.48	-0.09
Calmar ratio Return relative to maximum drawdown	2.73	2.67	+0.06
Martin ratio Return relative to average drawdown	12.73	12.71	+0.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AHYB vs. FHYTX - Sharpe Ratio Comparison

The current AHYB Sharpe Ratio is 1.96, which is comparable to the FHYTX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of AHYB and FHYTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AHYB	FHYTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	2.03	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.56	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	1.08	-0.54

Drawdowns

AHYB vs. FHYTX - Drawdown Comparison

The maximum AHYB drawdown since its inception was -14.76%, smaller than the maximum FHYTX drawdown of -34.98%. Use the drawdown chart below to compare losses from any high point for AHYB and FHYTX.

Drawdown Indicators

	AHYB	FHYTX	Difference
Max Drawdown Largest peak-to-trough decline	-14.76%	-34.98%	+20.22%
Max Drawdown (1Y) Largest decline over 1 year	-2.41%	-2.76%	+0.35%
Max Drawdown (3Y) Largest decline over 3 years	-3.89%	-4.12%	+0.23%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.04%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-24.18%	—
Current Drawdown Current decline from peak	-0.31%	0.00%	-0.31%
Average Drawdown Average peak-to-trough decline	-3.47%	-4.52%	+1.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	0.58%	-0.06%

Volatility

AHYB vs. FHYTX - Volatility Comparison

The current volatility for American Century Select High Yield ETF (AHYB) is 1.04%, while Federated Hermes Opportunistic High Yield Bond Fund (FHYTX) has a volatility of 1.21%. This indicates that AHYB experiences smaller price fluctuations and is considered to be less risky than FHYTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AHYB	FHYTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.04%	1.21%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	2.56%	2.88%	-0.32%
Volatility (1Y) Calculated over the trailing 1-year period	3.36%	3.65%	-0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.15%	5.68%	+1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.15%	7.28%	-0.13%

AHYB vs. FHYTX - Expense Ratio Comparison

AHYB has a 0.45% expense ratio, which is lower than FHYTX's 0.98% expense ratio.

Dividends

AHYB vs. FHYTX - Dividend Comparison

AHYB's dividend yield for the trailing twelve months is around 5.50%, more than FHYTX's 5.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AHYB American Century Select High Yield ETF	5.50%	5.80%	5.87%	5.28%	5.06%	0.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FHYTX Federated Hermes Opportunistic High Yield Bond Fund	5.22%	5.19%	4.91%	5.42%	4.40%	3.95%	4.67%	5.01%	6.71%	4.68%	14.56%	5.28%

Frequently Asked Questions

Can I hold both AHYB and FHYTX in my portfolio?

AHYB and FHYTX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AHYB or FHYTX?

FHYTX has higher volatility (1.21%) compared to AHYB (1.04%). In terms of maximum drawdown, AHYB dropped -14.76% vs FHYTX's -34.98%.

Which has better risk-adjusted returns?

FHYTX currently has the higher Sharpe Ratio (2.03 vs 1.96), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.