FHCOX vs. BBBMX

Last updated Aug 1, 2026

FHCOX (Federated Hermes Conservative Microshort Fund) and BBBMX (BBH Limited Duration Fund Class N) are both Ultrashort Bond funds. Over the past 5 years, FHCOX returned 3.48%/yr vs 3.92%/yr for BBBMX. Their 0.33 correlation means their historical movements had little consistent relationship. FHCOX charges 0.05%/yr vs 0.35%/yr for BBBMX.

Performance

FHCOX vs. BBBMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Conservative Microshort Fund (FHCOX) and BBH Limited Duration Fund Class N (BBBMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHCOX achieves a 1.77% return, which is significantly higher than BBBMX's 1.62% return.

FHCOX

• 1D: 0.00%
• 1M: 0.00%
• 6M: 1.51%
• YTD: 1.77%
• 1Y: 3.92%
• 3Y*: 4.73%
• 5Y*: 3.48%
• 10Y*: —
• ALL TIME*: 3.26%

BBBMX

• 1D: 0.10%
• 1M: -0.10%
• 6M: 1.25%
• YTD: 1.62%
• 1Y: 3.79%
• 3Y*: 5.91%
• 5Y*: 3.92%
• 10Y*: 3.34%
• ALL TIME*: 3.28%

*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)
BBBMX BBH Limited Duration Fund Class N	$0.00	$0.00	$0.00
FHCOX Federated Hermes Conservative Microshort Fund	$0.00	$0.00	$0.00

FHCOX vs. BBBMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FHCOX Federated Hermes Conservative Microshort Fund	1.77%	4.94%	5.34%	4.80%	0.76%	0.14%
BBBMX BBH Limited Duration Fund Class N	1.62%	5.54%	6.81%	7.44%	-1.48%	0.67%

Correlation

The correlation between FHCOX and BBBMX is 0.36, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.36
Correlation (3Y) Balances recent behavior with more history.	0.37
Correlation (5Y) Shows whether the relationship held over a longer period.	0.33
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021	0.33

Return for Risk

FHCOX vs. BBBMX — Risk / Return Rank

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

FHCOX

FHCOX Risk / Return Rank: 99
FHCOX Sharpe Ratio Rank: 98
FHCOX Sortino Ratio Rank: 100
FHCOX Omega Ratio Rank: 99
FHCOX Calmar Ratio Rank: 99
FHCOX Martin Ratio Rank: 99

BBBMX

BBBMX Risk / Return Rank: 98
BBBMX Sharpe Ratio Rank: 96
BBBMX Sortino Ratio Rank: 99
BBBMX Omega Ratio Rank: 99
BBBMX Calmar Ratio Rank: 98
BBBMX Martin Ratio Rank: 99

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.

FHCOX vs. BBBMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Conservative Microshort Fund (FHCOX) and BBH Limited Duration Fund Class N (BBBMX). 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.

	FHCOX	BBBMX	Difference
Sharpe ratio: Return per unit of total volatility	3.24	2.75	+0.49
Sortino ratio: Return per unit of downside risk	11.00	7.80	+3.21
Omega ratio: Gain probability vs. loss probability	3.84	2.42	+1.42
Calmar ratio: Return relative to maximum drawdown	14.52	7.75	+6.78
Martin ratio: Return relative to average drawdown	71.19	35.29	+35.90

FHCOX vs. BBBMX - Sharpe Ratio Comparison

The current FHCOX Sharpe Ratio is 3.24, which is comparable to the BBBMX Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of FHCOX and BBBMX, 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

FHCOX vs. BBBMX - Drawdown Comparison

The maximum FHCOX drawdown since its inception was -0.59%, smaller than the maximum BBBMX drawdown of -6.50%. Use the drawdown chart below to compare losses from any high point for FHCOX and BBBMX.

Drawdown Indicators

	FHCOX	BBBMX	Difference
Max Drawdown Largest peak-to-trough decline	-0.59%	-6.50%	+5.91%
Max Drawdown (1Y) Largest decline over 1 year	-0.30%	-0.57%	+0.27%
Max Drawdown (3Y) Largest decline over 3 years	-0.50%	-0.57%	+0.07%
Max Drawdown (5Y) Largest decline over 5 years	-0.59%	-3.18%	+2.59%
Max Drawdown (10Y) Largest decline over 10 years	—	-6.50%	—
Current Drawdown Current decline from peak	0.00%	-0.10%	+0.10%
Average Drawdown Average peak-to-trough decline	-0.10%	-0.57%	+0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	0.13%	-0.07%

Volatility

FHCOX vs. BBBMX - Volatility Comparison

The current volatility for Federated Hermes Conservative Microshort Fund (FHCOX) is 0.00%, while BBH Limited Duration Fund Class N (BBBMX) has a volatility of 0.22%. This indicates that FHCOX experiences smaller price fluctuations and is considered to be less risky than BBBMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHCOX	BBBMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	0.22%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	0.91%	1.21%	-0.30%
Volatility (1Y) Calculated over the trailing 1-year period	1.34%	1.61%	-0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.45%	1.57%	-0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.39%	1.48%	-0.09%

FHCOX vs. BBBMX - Expense Ratio Comparison

FHCOX has a 0.05% expense ratio, which is lower than BBBMX's 0.35% expense ratio.

Dividends

FHCOX vs. BBBMX - Dividend Comparison

FHCOX's dividend yield for the trailing twelve months is around 3.94%, less than BBBMX's 4.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBBMX BBH Limited Duration Fund Class N	4.10%	4.60%	4.80%	4.23%	1.78%	1.29%	2.03%	2.93%	2.57%	1.99%	2.00%	1.72%
FHCOX Federated Hermes Conservative Microshort Fund	3.94%	4.61%	4.99%	4.17%	1.26%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FHCOX and BBBMX in my portfolio?

FHCOX and BBBMX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHCOX or BBBMX?

BBBMX has higher volatility (0.22%) compared to FHCOX (0.00%). In terms of maximum drawdown, FHCOX dropped -0.59% vs BBBMX's -6.50%.

Which has better risk-adjusted returns?

FHCOX currently has the higher Sharpe Ratio (3.24 vs 2.75), 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.