FCSPX vs. VSTBX
FCSPX (Federated Hermes Corporate Bond Strategy Port) and VSTBX (Vanguard Short-Term Corporate Bond Index Fund Institutional Shares) are both Corporate Bonds funds. Over the past 10 years, FCSPX returned 3.37%/yr vs 2.99%/yr for VSTBX. A 0.75 correlation means they provide meaningful diversification when combined. FCSPX charges 0.00%/yr vs 0.05%/yr for VSTBX.
Performance
FCSPX vs. VSTBX - Performance Comparison
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Returns By Period
In the year-to-date period, FCSPX achieves a 0.77% return, which is significantly higher than VSTBX's 0.73% return. Over the past 10 years, FCSPX has outperformed VSTBX with an annualized return of 3.37%, while VSTBX has yielded a comparatively lower 2.99% annualized return.
FCSPX
- 1D
- 0.20%
- 1M
- 1.11%
- YTD
- 0.77%
- 6M
- 1.52%
- 1Y
- 5.96%
- 3Y*
- 5.73%
- 5Y*
- 0.40%
- 10Y*
- 3.37%
VSTBX
- 1D
- 0.15%
- 1M
- 0.34%
- YTD
- 0.73%
- 6M
- 0.88%
- 1Y
- 4.27%
- 3Y*
- 5.73%
- 5Y*
- 2.45%
- 10Y*
- 2.99%
FCSPX vs. VSTBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCSPX Federated Hermes Corporate Bond Strategy Port | 0.77% | 8.13% | 2.78% | 8.48% | -16.25% | -0.95% | 11.90% | 16.59% | -3.05% | 8.03% |
VSTBX Vanguard Short-Term Corporate Bond Index Fund Institutional Shares | 0.73% | 6.75% | 5.37% | 6.17% | -5.73% | -0.41% | 5.07% | 9.68% | 0.92% | 2.48% |
Correlation
The correlation between FCSPX and VSTBX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2009 | 0.75 |
Over the past year, the correlation between FCSPX and VSTBX has dropped to 0.32 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.
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Return for Risk
FCSPX vs. VSTBX — Risk / Return Rank
FCSPX
VSTBX
FCSPX vs. VSTBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Corporate Bond Strategy Port (FCSPX) and Vanguard Short-Term Corporate Bond Index Fund Institutional Shares (VSTBX). 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.
| FCSPX | VSTBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.12 | ||
| Sortino ratioReturn per unit of downside risk | -1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.49 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 3.35 | -1.44 |
| Martin ratioReturn relative to average drawdown | 6.48 | 13.18 | -6.70 |
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Drawdowns
FCSPX vs. VSTBX - Drawdown Comparison
The maximum FCSPX drawdown since its inception was -22.68%, which is greater than VSTBX's maximum drawdown of -9.34%. Use the drawdown chart below to compare losses from any high point for FCSPX and VSTBX.
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Drawdown Indicators
| FCSPX | VSTBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.68% | -9.34% | -13.34% |
Max Drawdown (1Y)Largest decline over 1 year | -3.19% | -1.31% | -1.88% |
Max Drawdown (3Y)Largest decline over 3 years | -6.14% | -1.31% | -4.83% |
Max Drawdown (5Y)Largest decline over 5 years | -22.68% | -9.34% | -13.34% |
Max Drawdown (10Y)Largest decline over 10 years | -22.68% | -9.34% | -13.34% |
Current DrawdownCurrent decline from peak | -0.61% | -0.24% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -4.13% | -0.95% | -3.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.33% | +0.61% |
Volatility
FCSPX vs. VSTBX - Volatility Comparison
Federated Hermes Corporate Bond Strategy Port (FCSPX) has a higher volatility of 1.22% compared to Vanguard Short-Term Corporate Bond Index Fund Institutional Shares (VSTBX) at 0.66%. This indicates that FCSPX's price experiences larger fluctuations and is considered to be riskier than VSTBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCSPX | VSTBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 0.66% | +0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 3.24% | 1.34% | +1.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.48% | 1.78% | +2.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.79% | 2.72% | +4.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.23% | 2.38% | +3.85% |
FCSPX vs. VSTBX - Expense Ratio Comparison
FCSPX has a 0.00% expense ratio, which is lower than VSTBX's 0.05% 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. VSTBX - Dividend Comparison
FCSPX's dividend yield for the trailing twelve months is around 4.82%, more than VSTBX's 4.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCSPX Federated Hermes Corporate Bond Strategy Port | 4.82% | 4.59% | 3.95% | 3.35% | 3.28% | 3.36% | 3.51% | 3.95% | 4.88% | 4.09% | 4.30% | 4.59% |
VSTBX Vanguard Short-Term Corporate Bond Index Fund Institutional Shares | 4.44% | 4.34% | 4.29% | 3.09% | 2.00% | 1.80% | 2.27% | 5.40% | 2.67% | 2.27% | 1.96% | 2.25% |
Frequently Asked Questions
FCSPX and VSTBX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCSPX has higher volatility (1.22%) compared to VSTBX (0.66%). In terms of maximum drawdown, FCSPX dropped -22.68% vs VSTBX's -9.34%.
VSTBX currently has the higher Sharpe Ratio (2.48 vs 1.36), 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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