FCSPX vs. FHYSX
FCSPX (Federated Hermes Corporate Bond Strategy Port) and FHYSX (Federated Hermes High-Yield Strategy Portfolio) are both mutual funds - FCSPX is a Corporate Bonds fund managed by Federated, while FHYSX is a High Yield Bonds fund managed by Federated. Over the past 10 years, FCSPX returned 3.39%/yr vs 5.32%/yr for FHYSX. At a 0.30 correlation, their price movements are largely independent. FCSPX charges 0.00%/yr vs 0.02%/yr for FHYSX.
Performance
FCSPX vs. FHYSX - Performance Comparison
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Returns By Period
In the year-to-date period, FCSPX achieves a 0.87% return, which is significantly lower than FHYSX's 1.36% return. Over the past 10 years, FCSPX has underperformed FHYSX with an annualized return of 3.39%, while FHYSX has yielded a comparatively higher 5.32% annualized return.
FCSPX
- 1D
- 0.10%
- 1M
- 1.11%
- YTD
- 0.87%
- 6M
- 1.23%
- 1Y
- 6.91%
- 3Y*
- 5.83%
- 5Y*
- 0.81%
- 10Y*
- 3.39%
FHYSX
- 1D
- 0.00%
- 1M
- 0.70%
- YTD
- 1.36%
- 6M
- 2.23%
- 1Y
- 7.21%
- 3Y*
- 8.54%
- 5Y*
- 3.48%
- 10Y*
- 5.32%
FCSPX vs. FHYSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCSPX Federated Hermes Corporate Bond Strategy Port | 0.87% | 8.13% | 2.78% | 8.48% | -16.25% | -0.95% | 11.90% | 16.59% | -3.05% | 8.03% |
FHYSX Federated Hermes High-Yield Strategy Portfolio | 1.36% | 9.14% | 6.42% | 12.77% | -13.16% | 4.49% | 6.08% | 15.14% | -2.16% | 8.34% |
Correlation
The correlation between FCSPX and FHYSX is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2009 | 0.30 |
Over the past year, FCSPX and FHYSX have become more correlated (0.55) than their long-term average of 0.30, meaning their price movements have been converging.
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Return for Risk
FCSPX vs. FHYSX — Risk / Return Rank
FCSPX
FHYSX
FCSPX vs. FHYSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Corporate Bond Strategy Port (FCSPX) and Federated Hermes High-Yield Strategy Portfolio (FHYSX). 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.
| FCSPX | FHYSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -1.51 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.54 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 2.96 | -0.79 |
| Martin ratioReturn relative to average drawdown | 7.52 | 15.43 | -7.91 |
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
| FCSPX | FHYSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 2.13 | -0.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 0.67 | -0.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | 0.93 | -0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.88 | -0.30 |
Drawdowns
FCSPX vs. FHYSX - Drawdown Comparison
The maximum FCSPX drawdown since its inception was -22.68%, which is greater than FHYSX's maximum drawdown of -21.45%. Use the drawdown chart below to compare losses from any high point for FCSPX and FHYSX.
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Drawdown Indicators
| FCSPX | FHYSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.68% | -21.45% | -1.23% |
Max Drawdown (1Y)Largest decline over 1 year | -3.19% | -2.44% | -0.75% |
Max Drawdown (3Y)Largest decline over 3 years | -6.14% | -3.64% | -2.50% |
Max Drawdown (5Y)Largest decline over 5 years | -22.68% | -16.93% | -5.75% |
Max Drawdown (10Y)Largest decline over 10 years | -22.68% | -21.45% | -1.23% |
Current DrawdownCurrent decline from peak | -0.51% | 0.00% | -0.51% |
Average DrawdownAverage peak-to-trough decline | -4.15% | -2.58% | -1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.47% | +0.45% |
Volatility
FCSPX vs. FHYSX - Volatility Comparison
Federated Hermes Corporate Bond Strategy Port (FCSPX) has a higher volatility of 1.51% compared to Federated Hermes High-Yield Strategy Portfolio (FHYSX) at 0.96%. This indicates that FCSPX's price experiences larger fluctuations and is considered to be riskier than FHYSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCSPX | FHYSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 0.96% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 3.22% | 2.61% | +0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.52% | 3.40% | +1.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.80% | 5.24% | +1.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.23% | 5.77% | +0.46% |
FCSPX vs. FHYSX - Expense Ratio Comparison
FCSPX has a 0.00% expense ratio, which is lower than FHYSX's 0.02% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FCSPX vs. FHYSX - Dividend Comparison
FCSPX's dividend yield for the trailing twelve months is around 4.81%, less than FHYSX's 6.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCSPX Federated Hermes Corporate Bond Strategy Port | 4.81% | 4.59% | 3.95% | 3.35% | 3.28% | 3.36% | 3.51% | 3.95% | 4.88% | 4.09% | 4.30% | 4.59% |
FHYSX Federated Hermes High-Yield Strategy Portfolio | 6.29% | 6.28% | 5.84% | 5.30% | 5.27% | 4.54% | 5.74% | 6.18% | 6.61% | 6.98% | 6.45% | 8.45% |
Frequently Asked Questions
FCSPX and FHYSX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCSPX has higher volatility (1.51%) compared to FHYSX (0.96%). In terms of maximum drawdown, FCSPX dropped -22.68% vs FHYSX's -21.45%.
FHYSX currently has the higher Sharpe Ratio (2.13 vs 1.54), 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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