FCSH vs. TLT
Compare and contrast key facts about Federated Hermes Short Duration Corporate ETF (FCSH) and iShares 20+ Year Treasury Bond ETF (TLT).
FCSH and TLT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FCSH is an actively managed fund by Federated. It was launched on Dec 16, 2021. TLT is a passively managed fund by iShares that tracks the performance of the ICE U.S. Treasury 20+ Year Bond Index. It was launched on Jul 22, 2002.
Performance
FCSH vs. TLT - Performance Comparison
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FCSH vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FCSH Federated Hermes Short Duration Corporate ETF | 0.43% | 6.42% | 4.66% | 5.45% | -5.87% | 0.24% |
TLT iShares 20+ Year Treasury Bond ETF | 0.17% | 4.25% | -8.05% | 2.77% | -31.23% | -1.75% |
Returns By Period
In the year-to-date period, FCSH achieves a 0.43% return, which is significantly higher than TLT's 0.17% return.
FCSH
- 1D
- 0.17%
- 1M
- -0.71%
- YTD
- 0.43%
- 6M
- 1.60%
- 1Y
- 4.90%
- 3Y*
- 5.00%
- 5Y*
- —
- 10Y*
- —
TLT
- 1D
- -0.10%
- 1M
- -4.23%
- YTD
- 0.17%
- 6M
- -0.87%
- 1Y
- -0.49%
- 3Y*
- -2.78%
- 5Y*
- -5.85%
- 10Y*
- -1.38%
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FCSH vs. TLT - Expense Ratio Comparison
FCSH has a 0.30% expense ratio, which is higher than TLT's 0.15% expense ratio.
Return for Risk
FCSH vs. TLT — Risk / Return Rank
FCSH
TLT
FCSH vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Short Duration Corporate ETF (FCSH) and iShares 20+ Year Treasury Bond ETF (TLT). 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.
| FCSH | TLT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.24 | -0.04 | +2.29 |
Sortino ratioReturn per unit of downside risk | 3.42 | 0.02 | +3.40 |
Omega ratioGain probability vs. loss probability | 1.46 | 1.00 | +0.46 |
Calmar ratioReturn relative to maximum drawdown | 3.99 | 0.05 | +3.93 |
Martin ratioReturn relative to average drawdown | 15.82 | 0.11 | +15.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FCSH | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.24 | -0.04 | +2.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.37 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 0.26 | +0.61 |
Correlation
The correlation between FCSH and TLT is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FCSH vs. TLT - Dividend Comparison
FCSH's dividend yield for the trailing twelve months is around 4.11%, less than TLT's 4.49% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCSH Federated Hermes Short Duration Corporate ETF | 4.11% | 4.14% | 4.44% | 2.31% | 1.76% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.49% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Drawdowns
FCSH vs. TLT - Drawdown Comparison
The maximum FCSH drawdown since its inception was -8.47%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for FCSH and TLT.
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Drawdown Indicators
| FCSH | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.47% | -48.35% | +39.88% |
Max Drawdown (1Y)Largest decline over 1 year | -1.24% | -9.23% | +7.99% |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -0.71% | -40.17% | +39.46% |
Average DrawdownAverage peak-to-trough decline | -2.28% | -13.62% | +11.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.31% | 4.38% | -4.07% |
Volatility
FCSH vs. TLT - Volatility Comparison
The current volatility for Federated Hermes Short Duration Corporate ETF (FCSH) is 1.02%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 3.71%. This indicates that FCSH experiences smaller price fluctuations and is considered to be less risky than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCSH | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 3.71% | -2.69% |
Volatility (6M)Calculated over the trailing 6-month period | 1.38% | 6.61% | -5.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.19% | 11.44% | -9.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.92% | 15.90% | -12.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.92% | 14.93% | -12.01% |