FHCOX vs. BUSIX

Last updated Jun 4, 2026

FHCOX (Federated Hermes Conservative Microshort Fund) and BUSIX (Sterling Capital Ultra Short Bond Fund) are both Ultrashort Bond funds. At a 0.34 correlation, their price movements are largely independent. FHCOX charges 0.05%/yr vs 0.27%/yr for BUSIX.

Performance

FHCOX vs. BUSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Conservative Microshort Fund (FHCOX) and Sterling Capital Ultra Short Bond Fund (BUSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FHCOX

• 1D: 0.00%
• 1M: 0.34%
• YTD: 1.54%
• 6M: 1.91%
• 1Y: 4.48%
• 3Y*: 4.98%
• 5Y*: 3.47%
• 10Y*: —

BUSIX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FHCOX vs. BUSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FHCOX Federated Hermes Conservative Microshort Fund	1.54%	4.94%	5.34%	4.80%	0.76%	0.14%
BUSIX Sterling Capital Ultra Short Bond Fund	0.83%	4.93%	5.87%	5.09%	0.32%	0.32%

Correlation

The correlation between FHCOX and BUSIX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (All Time) Calculated using the full available price history since Feb 26, 2021	0.34

Return for Risk

FHCOX vs. BUSIX — Risk / Return Rank

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

FHCOX

FHCOX Risk / Return Rank: 99
FHCOX Sharpe Ratio Rank: 95
FHCOX Sortino Ratio Rank: 100
FHCOX Omega Ratio Rank: 100
FHCOX Calmar Ratio Rank: 99
FHCOX Martin Ratio Rank: 100

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.

FHCOX vs. BUSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Conservative Microshort Fund (FHCOX) and Sterling Capital Ultra Short Bond Fund (BUSIX). 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.

	FHCOX	BUSIX	Difference
Sharpe ratio: Return per unit of total volatility	3.37	—	—
Sortino ratio: Return per unit of downside risk	12.72	—	—
Omega ratio: Gain probability vs. loss probability	4.67	—	—
Calmar ratio: Return relative to maximum drawdown	14.99	—	—
Martin ratio: Return relative to average drawdown	78.37	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FHCOX	BUSIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.37	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.41	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.36	—	—

Drawdowns

Drawdown Indicators

	FHCOX	BUSIX	Difference
Max Drawdown Largest peak-to-trough decline	-0.59%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-0.30%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-0.50%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-0.59%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-0.10%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	—	—

Volatility

Volatility by Period

	FHCOX	BUSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.40%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.92%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.33%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.44%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.40%	—	—

FHCOX vs. BUSIX - Expense Ratio Comparison

FHCOX has a 0.05% expense ratio, which is lower than BUSIX's 0.27% 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

FHCOX vs. BUSIX - Dividend Comparison

FHCOX's dividend yield for the trailing twelve months is around 4.38%, more than BUSIX's 3.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BUSIX Sterling Capital Ultra Short Bond Fund	3.19%	4.29%	4.65%	3.48%	1.87%	1.24%	1.72%	2.60%	2.05%	1.57%	1.74%	1.36%
FHCOX Federated Hermes Conservative Microshort Fund	4.38%	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 BUSIX in my portfolio?

FHCOX and BUSIX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.