DSFIX vs. FMBPX

Last updated Jun 3, 2026

DSFIX (DFA Social Fixed Income Portfolio) and FMBPX (Federated Hermes Mortgage Strategy Portfolio) are both Intermediate Core Bond funds. Over the past 5 years, DSFIX returned 0.38%/yr vs 0.32%/yr for FMBPX. A 0.76 correlation means they provide meaningful diversification when combined. DSFIX charges 0.21%/yr vs 0.02%/yr for FMBPX.

Performance

DSFIX vs. FMBPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Social Fixed Income Portfolio (DSFIX) and Federated Hermes Mortgage Strategy Portfolio (FMBPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DSFIX achieves a 0.54% return, which is significantly lower than FMBPX's 0.81% return.

DSFIX

• 1D: -0.11%
• 1M: 0.18%
• YTD: 0.54%
• 6M: 0.53%
• 1Y: 5.33%
• 3Y*: 4.48%
• 5Y*: 0.38%
• 10Y*: —

FMBPX

• 1D: 0.00%
• 1M: 0.54%
• YTD: 0.81%
• 6M: 1.21%
• 1Y: 7.68%
• 3Y*: 4.57%
• 5Y*: 0.32%
• 10Y*: 1.46%

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

DSFIX vs. FMBPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DSFIX DFA Social Fixed Income Portfolio	0.54%	6.80%	1.81%	7.18%	-13.07%	-2.19%	9.26%	9.83%	-0.32%	3.24%
FMBPX Federated Hermes Mortgage Strategy Portfolio	0.81%	9.03%	1.04%	4.44%	-12.21%	-1.35%	4.77%	6.30%	1.13%	2.86%

Correlation

The correlation between DSFIX and FMBPX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.76

Over the past year, the correlation between DSFIX and FMBPX has dropped to 0.34 - well below their long-term average of 0.76, suggesting their price drivers have been diverging.

Return for Risk

DSFIX vs. FMBPX — Risk / Return Rank

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

DSFIX

DSFIX Risk / Return Rank: 23
DSFIX Sharpe Ratio Rank: 20
DSFIX Sortino Ratio Rank: 21
DSFIX Omega Ratio Rank: 19
DSFIX Calmar Ratio Rank: 32
DSFIX Martin Ratio Rank: 24

FMBPX

FMBPX Risk / Return Rank: 38
FMBPX Sharpe Ratio Rank: 33
FMBPX Sortino Ratio Rank: 39
FMBPX Omega Ratio Rank: 39
FMBPX Calmar Ratio Rank: 42
FMBPX Martin Ratio Rank: 39

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.

DSFIX vs. FMBPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Social Fixed Income Portfolio (DSFIX) 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.

	DSFIX	FMBPX	Difference
Sharpe ratio Return per unit of total volatility	1.30	1.66	-0.36
Sortino ratio Return per unit of downside risk	1.93	2.62	-0.69
Omega ratio Gain probability vs. loss probability	1.23	1.34	-0.10
Calmar ratio Return relative to maximum drawdown	2.13	2.45	-0.32
Martin ratio Return relative to average drawdown	6.13	8.33	-2.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DSFIX vs. FMBPX - Sharpe Ratio Comparison

The current DSFIX Sharpe Ratio is 1.30, which is comparable to the FMBPX Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of DSFIX and FMBPX, 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

	DSFIX	FMBPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.30	1.66	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	0.05	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.26	+0.19

Drawdowns

DSFIX vs. FMBPX - Drawdown Comparison

The maximum DSFIX drawdown since its inception was -18.94%, roughly equal to the maximum FMBPX drawdown of -18.34%. Use the drawdown chart below to compare losses from any high point for DSFIX and FMBPX.

Drawdown Indicators

	DSFIX	FMBPX	Difference
Max Drawdown Largest peak-to-trough decline	-18.94%	-18.34%	-0.60%
Max Drawdown (1Y) Largest decline over 1 year	-2.66%	-3.15%	+0.49%
Max Drawdown (3Y) Largest decline over 3 years	-4.70%	-7.69%	+2.99%
Max Drawdown (5Y) Largest decline over 5 years	-18.87%	-18.02%	-0.85%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.34%	—
Current Drawdown Current decline from peak	-1.30%	-1.23%	-0.07%
Average Drawdown Average peak-to-trough decline	-4.67%	-3.27%	-1.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	0.92%	0.00%

Volatility

DSFIX vs. FMBPX - Volatility Comparison

The current volatility for DFA Social Fixed Income Portfolio (DSFIX) is 1.27%, while Federated Hermes Mortgage Strategy Portfolio (FMBPX) has a volatility of 1.63%. This indicates that DSFIX 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.

Volatility by Period

	DSFIX	FMBPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.27%	1.63%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	2.74%	3.24%	-0.50%
Volatility (1Y) Calculated over the trailing 1-year period	3.97%	4.65%	-0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.79%	6.77%	-0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.96%	5.12%	-0.16%

DSFIX vs. FMBPX - Expense Ratio Comparison

DSFIX has a 0.21% expense ratio, which is higher than FMBPX's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DSFIX vs. FMBPX - Dividend Comparison

DSFIX's dividend yield for the trailing twelve months is around 4.13%, less than FMBPX's 5.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DSFIX DFA Social Fixed Income Portfolio	4.13%	3.61%	3.95%	3.28%	2.54%	2.70%	2.22%	2.58%	2.56%	1.87%	0.00%	0.00%
FMBPX Federated Hermes Mortgage Strategy Portfolio	5.02%	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

Can I hold both DSFIX and FMBPX in my portfolio?

DSFIX and FMBPX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DSFIX or FMBPX?

FMBPX has higher volatility (1.63%) compared to DSFIX (1.27%). In terms of maximum drawdown, DSFIX dropped -18.94% vs FMBPX's -18.34%.

Which has better risk-adjusted returns?

FMBPX currently has the higher Sharpe Ratio (1.66 vs 1.30), 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.