CMPIX vs. FMBPX
CMPIX (Principal Core Fixed Income) and FMBPX (Federated Hermes Mortgage Strategy Portfolio) are both Intermediate Core Bond funds. Over the past 10 years, CMPIX returned 1.64%/yr vs 1.44%/yr for FMBPX. A 0.75 correlation means they provide meaningful diversification when combined. CMPIX charges 0.74%/yr vs 0.02%/yr for FMBPX.
Performance
CMPIX vs. FMBPX - Performance Comparison
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Returns By Period
In the year-to-date period, CMPIX achieves a 0.15% return, which is significantly lower than FMBPX's 0.69% return. Over the past 10 years, CMPIX has outperformed FMBPX with an annualized return of 1.64%, while FMBPX has yielded a comparatively lower 1.44% annualized return.
CMPIX
- 1D
- 0.23%
- 1M
- 0.77%
- YTD
- 0.15%
- 6M
- 0.45%
- 1Y
- 4.32%
- 3Y*
- 3.64%
- 5Y*
- -0.39%
- 10Y*
- 1.64%
FMBPX
- 1D
- 0.24%
- 1M
- 1.02%
- YTD
- 0.69%
- 6M
- 1.33%
- 1Y
- 6.77%
- 3Y*
- 4.44%
- 5Y*
- 0.34%
- 10Y*
- 1.44%
CMPIX vs. FMBPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMPIX Principal Core Fixed Income | 0.15% | 6.76% | 1.26% | 4.89% | -13.34% | -2.03% | 7.84% | 8.59% | -0.24% | 4.16% |
FMBPX Federated Hermes Mortgage Strategy Portfolio | 0.69% | 9.03% | 1.04% | 4.44% | -12.21% | -1.35% | 4.77% | 6.30% | 1.13% | 2.76% |
Correlation
The correlation between CMPIX and FMBPX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2009 | 0.75 |
Over the past year, the correlation between CMPIX and FMBPX has dropped to 0.45 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.
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Return for Risk
CMPIX vs. FMBPX — Risk / Return Rank
CMPIX
FMBPX
CMPIX vs. FMBPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Core Fixed Income (CMPIX) and Federated Hermes Mortgage Strategy Portfolio (FMBPX). 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.
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.
| CMPIX | FMBPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.30 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 2.16 | -0.70 |
| Martin ratioReturn relative to average drawdown | 4.15 | 6.95 | -2.80 |
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Drawdowns
CMPIX vs. FMBPX - Drawdown Comparison
The maximum CMPIX drawdown since its inception was -18.80%, roughly equal to the maximum FMBPX drawdown of -18.34%. Use the drawdown chart below to compare losses from any high point for CMPIX and FMBPX.
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Drawdown Indicators
| CMPIX | FMBPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.80% | -18.34% | -0.46% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -3.15% | +0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -6.58% | -7.69% | +1.11% |
Max Drawdown (5Y)Largest decline over 5 years | -18.51% | -18.02% | -0.49% |
Max Drawdown (10Y)Largest decline over 10 years | -18.80% | -18.34% | -0.46% |
Current DrawdownCurrent decline from peak | -3.60% | -1.35% | -2.25% |
Average DrawdownAverage peak-to-trough decline | -2.48% | -3.26% | +0.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.98% | +0.06% |
Volatility
CMPIX vs. FMBPX - Volatility Comparison
The current volatility for Principal Core Fixed Income (CMPIX) is 1.31%, while Federated Hermes Mortgage Strategy Portfolio (FMBPX) has a volatility of 1.44%. This indicates that CMPIX experiences smaller price fluctuations and is considered to be less risky than FMBPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMPIX | FMBPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 1.44% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 3.01% | 3.29% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 4.59% | -0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.82% | 6.79% | -0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.83% | 5.12% | -0.29% |
CMPIX vs. FMBPX - Expense Ratio Comparison
CMPIX has a 0.74% expense ratio, which is higher than FMBPX's 0.02% expense ratio.
Dividends
CMPIX vs. FMBPX - Dividend Comparison
CMPIX's dividend yield for the trailing twelve months is around 3.44%, less than FMBPX's 5.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMPIX Principal Core Fixed Income | 3.44% | 3.35% | 3.27% | 2.37% | 2.10% | 1.94% | 2.11% | 2.71% | 3.19% | 2.91% | 3.17% | 3.29% |
FMBPX Federated Hermes Mortgage Strategy Portfolio | 5.03% | 4.87% | 4.29% | 3.46% | 2.29% | 1.96% | 2.68% | 3.23% | 3.14% | 2.83% | 2.72% | 2.65% |
Frequently Asked Questions
CMPIX and FMBPX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMBPX has higher volatility (1.44%) compared to CMPIX (1.31%). In terms of maximum drawdown, CMPIX dropped -18.80% vs FMBPX's -18.34%.
FMBPX currently has the higher Sharpe Ratio (1.49 vs 1.11), 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.
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