FCSPX vs. FIIFX

Last updated Jun 4, 2026

FCSPX (Federated Hermes Corporate Bond Strategy Port) and FIIFX (Federated Hermes Intermediate Corporate Bond Fund) are both Corporate Bonds funds from Federated. Over the past 10 years, FCSPX returned 3.39%/yr vs 2.46%/yr for FIIFX. Their correlation of 0.89 suggests significant overlap in exposure. FCSPX charges 0.00%/yr vs 0.58%/yr for FIIFX.

Performance

FCSPX vs. FIIFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Corporate Bond Strategy Port (FCSPX) and Federated Hermes Intermediate Corporate Bond Fund (FIIFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCSPX achieves a 0.87% return, which is significantly higher than FIIFX's 0.18% return. Over the past 10 years, FCSPX has outperformed FIIFX with an annualized return of 3.39%, while FIIFX has yielded a comparatively lower 2.46% 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%

FIIFX

• 1D: 0.00%
• 1M: 0.48%
• YTD: 0.18%
• 6M: 0.64%
• 1Y: 4.93%
• 3Y*: 4.81%
• 5Y*: 1.07%
• 10Y*: 2.46%

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

FCSPX vs. FIIFX - 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%
FIIFX Federated Hermes Intermediate Corporate Bond Fund	0.18%	7.62%	3.20%	5.66%	-10.03%	-1.61%	7.58%	9.72%	-0.48%	4.32%

Correlation

The correlation between FCSPX and FIIFX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jul 2, 2009	0.89

The correlation between FCSPX and FIIFX has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

Return for Risk

FCSPX vs. FIIFX — Risk / Return Rank

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

FCSPX

FCSPX Risk / Return Rank: 32
FCSPX Sharpe Ratio Rank: 29
FCSPX Sortino Ratio Rank: 29
FCSPX Omega Ratio Rank: 36
FCSPX Calmar Ratio Rank: 33
FCSPX Martin Ratio Rank: 33

FIIFX

FIIFX Risk / Return Rank: 34
FIIFX Sharpe Ratio Rank: 30
FIIFX Sortino Ratio Rank: 35
FIIFX Omega Ratio Rank: 38
FIIFX Calmar Ratio Rank: 33
FIIFX Martin Ratio Rank: 34

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.

FCSPX vs. FIIFX - 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 Intermediate Corporate Bond Fund (FIIFX). 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	FIIFX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.59	-0.06
Sortino ratio: Return per unit of downside risk	2.23	2.49	-0.26
Omega ratio: Gain probability vs. loss probability	1.32	1.33	-0.01
Calmar ratio: Return relative to maximum drawdown	2.18	2.16	+0.02
Martin ratio: Return relative to average drawdown	7.52	7.55	-0.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCSPX vs. FIIFX - Sharpe Ratio Comparison

The current FCSPX Sharpe Ratio is 1.54, which is comparable to the FIIFX Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of FCSPX and FIIFX, 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

	FCSPX	FIIFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	1.59	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	0.25	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.65	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	1.07	-0.49

Drawdowns

FCSPX vs. FIIFX - Drawdown Comparison

The maximum FCSPX drawdown since its inception was -22.68%, which is greater than FIIFX's maximum drawdown of -14.85%. Use the drawdown chart below to compare losses from any high point for FCSPX and FIIFX.

Drawdown Indicators

	FCSPX	FIIFX	Difference
Max Drawdown Largest peak-to-trough decline	-22.68%	-14.85%	-7.83%
Max Drawdown (1Y) Largest decline over 1 year	-3.19%	-2.28%	-0.91%
Max Drawdown (3Y) Largest decline over 3 years	-6.14%	-3.67%	-2.47%
Max Drawdown (5Y) Largest decline over 5 years	-22.68%	-14.85%	-7.83%
Max Drawdown (10Y) Largest decline over 10 years	-22.68%	-14.85%	-7.83%
Current Drawdown Current decline from peak	-0.51%	-0.75%	+0.24%
Average Drawdown Average peak-to-trough decline	-4.15%	-1.92%	-2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	0.65%	+0.27%

Volatility

FCSPX vs. FIIFX - Volatility Comparison

Federated Hermes Corporate Bond Strategy Port (FCSPX) has a higher volatility of 1.51% compared to Federated Hermes Intermediate Corporate Bond Fund (FIIFX) at 1.07%. This indicates that FCSPX's price experiences larger fluctuations and is considered to be riskier than FIIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCSPX	FIIFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.51%	1.07%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	3.22%	2.18%	+1.04%
Volatility (1Y) Calculated over the trailing 1-year period	4.52%	3.10%	+1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.80%	4.29%	+2.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.23%	3.81%	+2.42%

FCSPX vs. FIIFX - Expense Ratio Comparison

FCSPX has a 0.00% expense ratio, which is lower than FIIFX's 0.58% expense ratio.

Dividends

FCSPX vs. FIIFX - Dividend Comparison

FCSPX's dividend yield for the trailing twelve months is around 4.81%, more than FIIFX's 4.26% 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%
FIIFX Federated Hermes Intermediate Corporate Bond Fund	4.26%	4.15%	3.39%	2.95%	1.97%	2.69%	2.64%	2.92%	4.02%	4.27%	3.30%	3.79%

Frequently Asked Questions

Can I hold both FCSPX and FIIFX in my portfolio?

With a correlation of 0.90, FCSPX and FIIFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FCSPX or FIIFX?

FCSPX has higher volatility (1.51%) compared to FIIFX (1.07%). In terms of maximum drawdown, FCSPX dropped -22.68% vs FIIFX's -14.85%.

Which has better risk-adjusted returns?

FIIFX currently has the higher Sharpe Ratio (1.59 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.