FHCOX vs. FZOLX

Last updated Apr 2, 2026

Compare and contrast key facts about Federated Hermes Conservative Microshort Fund (FHCOX) and Fidelity SAI Low Duration Income Fund (FZOLX).

FHCOX is managed by Federated. It was launched on Feb 2, 2021. FZOLX is managed by Fidelity. It was launched on Oct 13, 2020.

Performance

FHCOX vs. FZOLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Conservative Microshort Fund (FHCOX) and Fidelity SAI Low Duration Income Fund (FZOLX). The values are adjusted to include any dividend payments, if applicable.

FHCOX vs. FZOLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FHCOX Federated Hermes Conservative Microshort Fund	0.49%	4.94%	5.34%	4.80%	0.76%	0.14%
FZOLX Fidelity SAI Low Duration Income Fund	0.40%	4.85%	5.59%	5.72%	0.34%	-0.04%

Returns By Period

In the year-to-date period, FHCOX achieves a 0.49% return, which is significantly higher than FZOLX's 0.40% return.

FHCOX

• 1D: 0.00%
• 1M: -0.10%
• YTD: 0.49%
• 6M: 1.61%
• 1Y: 4.11%
• 3Y*: 4.79%
• 5Y*: 3.26%
• 10Y*: —

FZOLX

• 1D: 0.00%
• 1M: -0.20%
• YTD: 0.40%
• 6M: 1.48%
• 1Y: 3.97%
• 3Y*: 5.09%
• 5Y*: 3.34%
• 10Y*: —

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

FHCOX vs. FZOLX - Expense Ratio Comparison

FHCOX has a 0.05% expense ratio, which is lower than FZOLX's 0.22% 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%.

FZOLX

Fidelity SAI Low Duration Income Fund

FHCOX

Federated Hermes Conservative Microshort Fund

Return for Risk

FHCOX vs. FZOLX — 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: 98
FHCOX Sortino Ratio Rank: 100
FHCOX Omega Ratio Rank: 100
FHCOX Calmar Ratio Rank: 100
FHCOX Martin Ratio Rank: 99

FZOLX

FZOLX Risk / Return Rank: 99
FZOLX Sharpe Ratio Rank: 98
FZOLX Sortino Ratio Rank: 99
FZOLX Omega Ratio Rank: 99
FZOLX Calmar Ratio Rank: 100
FZOLX 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. FZOLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Conservative Microshort Fund (FHCOX) and Fidelity SAI Low Duration Income Fund (FZOLX). 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	FZOLX	Difference
Sharpe ratio Return per unit of total volatility	3.11	3.18	-0.06
Sortino ratio Return per unit of downside risk	11.22	9.57	+1.65
Omega ratio Gain probability vs. loss probability	4.11	3.32	+0.80
Calmar ratio Return relative to maximum drawdown	13.72	14.57	-0.85
Martin ratio Return relative to average drawdown	53.04	66.78	-13.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FHCOX vs. FZOLX - Sharpe Ratio Comparison

The current FHCOX Sharpe Ratio is 3.11, which is comparable to the FZOLX Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of FHCOX and FZOLX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FHCOX	FZOLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.11	3.18	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.31	2.82	-0.51
Sharpe Ratio (All Time) Calculated using the full available price history	2.30	2.67	-0.38

Correlation

The correlation between FHCOX and FZOLX is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FHCOX vs. FZOLX - Dividend Comparison

FHCOX's dividend yield for the trailing twelve months is around 4.12%, less than FZOLX's 4.82% yield.

	TTM	2025	2024	2023	2022	2021	2020
FHCOX Federated Hermes Conservative Microshort Fund	4.12%	4.61%	4.99%	4.17%	1.26%	0.24%	0.00%
FZOLX Fidelity SAI Low Duration Income Fund	4.82%	5.26%	5.15%	4.03%	1.14%	0.16%	0.01%

Drawdowns

FHCOX vs. FZOLX - Drawdown Comparison

The maximum FHCOX drawdown since its inception was -0.59%, smaller than the maximum FZOLX drawdown of -1.10%. Use the drawdown chart below to compare losses from any high point for FHCOX and FZOLX.

Drawdown Indicators

	FHCOX	FZOLX	Difference
Max Drawdown Largest peak-to-trough decline	-0.59%	-1.10%	+0.51%
Max Drawdown (1Y) Largest decline over 1 year	-0.30%	-0.30%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-0.59%	-1.10%	+0.51%
Current Drawdown Current decline from peak	-0.20%	-0.20%	0.00%
Average Drawdown Average peak-to-trough decline	-0.11%	-0.14%	+0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.08%	0.07%	+0.01%

Volatility

FHCOX vs. FZOLX - Volatility Comparison

The current volatility for Federated Hermes Conservative Microshort Fund (FHCOX) is 0.18%, while Fidelity SAI Low Duration Income Fund (FZOLX) has a volatility of 0.25%. This indicates that FHCOX experiences smaller price fluctuations and is considered to be less risky than FZOLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHCOX	FZOLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.18%	0.25%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	0.97%	0.88%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	1.37%	1.30%	+0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.41%	1.19%	+0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.40%	1.14%	+0.26%