FFRSX vs. CAPIX

Last updated Aug 5, 2026

FFRSX (Federated Hermes Floating Rate Strat Inc Fund) and CAPIX (Calamos Aksia Alternative Credit and Income Fund Class I) are both Bank Loan funds. Over the past year, FFRSX returned 3.85% vs 6.96% for CAPIX. Their 0.09 correlation means their historical movements had little consistent relationship. FFRSX charges 0.68%/yr vs 1.25%/yr for CAPIX.

Performance

FFRSX vs. CAPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Floating Rate Strat Inc Fund (FFRSX) and Calamos Aksia Alternative Credit and Income Fund Class I (CAPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFRSX achieves a 1.23% return, which is significantly lower than CAPIX's 3.26% return.

FFRSX

• 1D: 0.00%
• 1M: 0.12%
• 6M: 1.25%
• YTD: 1.23%
• 1Y: 3.85%
• 3Y*: 5.74%
• 5Y*: 3.33%
• 10Y*: 3.28%
• ALL TIME*: 3.42%

CAPIX

• 1D: 0.00%
• 1M: 0.67%
• 6M: 2.58%
• YTD: 3.26%
• 1Y: 6.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.54%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CAPIX Calamos Aksia Alternative Credit and Income Fund Class I	$0.00	$0.00	$0.00
FFRSX Federated Hermes Floating Rate Strat Inc Fund	$0.00	$0.00	$0.00

FFRSX vs. CAPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FFRSX Federated Hermes Floating Rate Strat Inc Fund	1.23%	5.61%	6.71%	3.63%
CAPIX Calamos Aksia Alternative Credit and Income Fund Class I	3.26%	7.43%	8.60%	3.02%

Correlation

The correlation between FFRSX and CAPIX is 0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.03
Correlation (All Time) Calculated using the full available price history since Aug 14, 2023	0.09

Return for Risk

FFRSX vs. CAPIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FFRSX

FFRSX Risk / Return Rank: 88
FFRSX Sharpe Ratio Rank: 74
FFRSX Sortino Ratio Rank: 95
FFRSX Omega Ratio Rank: 97
FFRSX Calmar Ratio Rank: 88
FFRSX Martin Ratio Rank: 86

CAPIX

CAPIX Risk / Return Rank: 99
CAPIX Sharpe Ratio Rank: 99
CAPIX Sortino Ratio Rank: 99
CAPIX Omega Ratio Rank: 99
CAPIX Calmar Ratio Rank: 98
CAPIX Martin Ratio Rank: 98

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FFRSX vs. CAPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Floating Rate Strat Inc Fund (FFRSX) and Calamos Aksia Alternative Credit and Income Fund Class I (CAPIX). 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.

	FFRSX	CAPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.87	4.22	-2.34
Sortino ratio: Return per unit of downside risk	3.99	6.36	-2.37
Omega ratio: Gain probability vs. loss probability	1.71	2.84	-1.13
Calmar ratio: Return relative to maximum drawdown	3.50	7.62	-4.12
Martin ratio: Return relative to average drawdown	12.02	28.42	-16.40

FFRSX vs. CAPIX - Sharpe Ratio Comparison

The current FFRSX Sharpe Ratio is 1.87, which is lower than the CAPIX Sharpe Ratio of 4.22. The chart below compares the historical Sharpe Ratios of FFRSX and CAPIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FFRSX vs. CAPIX - Drawdown Comparison

The maximum FFRSX drawdown since its inception was -17.13%, which is greater than CAPIX's maximum drawdown of -1.96%. Use the drawdown chart below to compare losses from any high point for FFRSX and CAPIX.

Drawdown Indicators

	FFRSX	CAPIX	Difference
Max Drawdown Largest peak-to-trough decline	-17.13%	-1.96%	-15.17%
Max Drawdown (1Y) Largest decline over 1 year	-1.07%	-0.94%	-0.13%
Max Drawdown (3Y) Largest decline over 3 years	-1.45%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-7.54%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-17.13%	—	—
Current Drawdown Current decline from peak	-0.12%	0.00%	-0.12%
Average Drawdown Average peak-to-trough decline	-0.90%	-0.26%	-0.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.31%	0.25%	+0.06%

Volatility

FFRSX vs. CAPIX - Volatility Comparison

Federated Hermes Floating Rate Strat Inc Fund (FFRSX) and Calamos Aksia Alternative Credit and Income Fund Class I (CAPIX) have volatilities of 0.21% and 0.21%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFRSX	CAPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.21%	0.21%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	1.35%	1.49%	-0.14%
Volatility (1Y) Calculated over the trailing 1-year period	2.00%	1.70%	+0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.44%	2.50%	-0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.24%	2.50%	+0.74%

FFRSX vs. CAPIX - Expense Ratio Comparison

FFRSX has a 0.68% expense ratio, which is lower than CAPIX's 1.25% expense ratio.

Dividends

FFRSX vs. CAPIX - Dividend Comparison

FFRSX's dividend yield for the trailing twelve months is around 5.22%, less than CAPIX's 8.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAPIX Calamos Aksia Alternative Credit and Income Fund Class I	8.60%	7.18%	4.42%	1.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FFRSX Federated Hermes Floating Rate Strat Inc Fund	5.22%	6.38%	6.95%	6.88%	4.15%	2.92%	3.37%	4.62%	4.41%	3.68%	3.76%	3.71%

Frequently Asked Questions

Can I hold both FFRSX and CAPIX in my portfolio?

FFRSX and CAPIX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFRSX or CAPIX?

CAPIX has higher volatility (0.21%) compared to FFRSX (0.21%). In terms of maximum drawdown, FFRSX dropped -17.13% vs CAPIX's -1.96%.

Which has better risk-adjusted returns?

CAPIX currently has the higher Sharpe Ratio (4.22 vs 1.87), 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.