FFRSX vs. FHYTX
FFRSX (Federated Hermes Floating Rate Strat Inc Fund) and FHYTX (Federated Hermes Opportunistic High Yield Bond Fund) are both mutual funds - FFRSX is a Bank Loan fund managed by Federated, while FHYTX is a High Yield Bonds fund managed by Federated. Over the past 10 years, FFRSX returned 3.28%/yr vs 5.92%/yr for FHYTX. Their 0.53 correlation means they have sometimes moved together and sometimes differently. FFRSX charges 0.68%/yr vs 0.98%/yr for FHYTX.
Performance
FFRSX vs. FHYTX - Performance Comparison
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Returns By Period
In the year-to-date period, FFRSX achieves a 1.23% return, which is significantly lower than FHYTX's 1.63% return. Over the past 10 years, FFRSX has underperformed FHYTX with an annualized return of 3.28%, while FHYTX has yielded a comparatively higher 5.92% annualized 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%
FHYTX
- 1D
- 0.31%
- 1M
- -0.15%
- 6M
- 1.51%
- YTD
- 1.63%
- 1Y
- 4.73%
- 3Y*
- 7.68%
- 5Y*
- 3.11%
- 10Y*
- 5.92%
- ALL TIME*
- 6.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FFRSX vs. FHYTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FFRSX Federated Hermes Floating Rate Strat Inc Fund | 1.23% | 5.61% | 6.71% | 8.04% | -5.85% | 3.73% | 0.45% | 6.71% | 0.38% | 3.54% |
FHYTX Federated Hermes Opportunistic High Yield Bond Fund | 1.63% | 8.40% | 6.24% | 13.22% | -13.45% | 7.37% | 6.72% | 15.34% | -4.66% | 7.46% |
Correlation
The correlation between FFRSX and FHYTX is 0.45, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.45 |
Correlation (3Y) Balances recent behavior with more history. | 0.44 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.50 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.53 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2010 | 0.53 |
The correlation between FFRSX and FHYTX has been stable across timeframes, ranging from 0.44 to 0.53 - a consistent structural relationship.
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Return for Risk
FFRSX vs. FHYTX — Risk / Return Rank
FFRSX
FHYTX
FFRSX vs. FHYTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Floating Rate Strat Inc Fund (FFRSX) and Federated Hermes Opportunistic High Yield Bond Fund (FHYTX). 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 | FHYTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.71 | 1.30 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 1.78 | +1.72 |
| Martin ratioReturn relative to average drawdown | 12.02 | 8.19 | +3.82 |
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Drawdowns
FFRSX vs. FHYTX - Drawdown Comparison
The maximum FFRSX drawdown since its inception was -17.13%, smaller than the maximum FHYTX drawdown of -34.98%. Use the drawdown chart below to compare losses from any high point for FFRSX and FHYTX.
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Drawdown Indicators
| FFRSX | FHYTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.13% | -34.98% | +17.85% |
Max Drawdown (1Y)Largest decline over 1 year | -1.07% | -2.76% | +1.69% |
Max Drawdown (3Y)Largest decline over 3 years | -1.45% | -4.12% | +2.67% |
Max Drawdown (5Y)Largest decline over 5 years | -7.54% | -17.04% | +9.50% |
Max Drawdown (10Y)Largest decline over 10 years | -17.13% | -24.18% | +7.05% |
Current DrawdownCurrent decline from peak | -0.12% | -0.31% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -0.90% | -4.51% | +3.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.31% | 0.60% | -0.29% |
Volatility
FFRSX vs. FHYTX - Volatility Comparison
The current volatility for Federated Hermes Floating Rate Strat Inc Fund (FFRSX) is 0.21%, while Federated Hermes Opportunistic High Yield Bond Fund (FHYTX) has a volatility of 0.79%. This indicates that FFRSX experiences smaller price fluctuations and is considered to be less risky than FHYTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FFRSX | FHYTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.21% | 0.79% | -0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 1.35% | 2.86% | -1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.00% | 3.64% | -1.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.44% | 5.66% | -3.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.24% | 7.22% | -3.98% |
FFRSX vs. FHYTX - Expense Ratio Comparison
FFRSX has a 0.68% expense ratio, which is lower than FHYTX's 0.98% expense ratio.
Dividends
FFRSX vs. FHYTX - Dividend Comparison
FFRSX's dividend yield for the trailing twelve months is around 5.22%, more than FHYTX's 4.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
FHYTX Federated Hermes Opportunistic High Yield Bond Fund | 4.78% | 5.19% | 4.91% | 5.42% | 4.40% | 3.95% | 4.67% | 5.01% | 6.71% | 4.68% | 14.56% | 5.28% |
Frequently Asked Questions
FFRSX and FHYTX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FHYTX has higher volatility (0.79%) compared to FFRSX (0.21%). In terms of maximum drawdown, FFRSX dropped -17.13% vs FHYTX's -34.98%.
FFRSX currently has the higher Sharpe Ratio (1.87 vs 1.35), 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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