FHHIX vs. CWFIX

Last updated Jun 23, 2026

FHHIX (Federated Hermes SDG Engagement High Yield Credit Fund) and CWFIX (Chartwell Short Duration High Yield Fund) are both High Yield Bonds funds. Over the past 5 years, FHHIX returned 3.41%/yr vs 3.92%/yr for CWFIX. A 0.74 correlation means they provide meaningful diversification when combined. FHHIX charges 1.57%/yr vs 0.49%/yr for CWFIX.

Performance

FHHIX vs. CWFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes SDG Engagement High Yield Credit Fund (FHHIX) and Chartwell Short Duration High Yield Fund (CWFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FHHIX having a 1.63% return and CWFIX slightly lower at 1.61%.

FHHIX

• 1D: 0.10%
• 1M: 1.01%
• YTD: 1.63%
• 6M: 1.83%
• 1Y: 6.58%
• 3Y*: 8.16%
• 5Y*: 3.41%
• 10Y*: —

CWFIX

• 1D: 0.00%
• 1M: 0.43%
• YTD: 1.61%
• 6M: 1.83%
• 1Y: 5.27%
• 3Y*: 6.45%
• 5Y*: 3.92%
• 10Y*: 3.97%

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

FHHIX vs. CWFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FHHIX Federated Hermes SDG Engagement High Yield Credit Fund	1.63%	8.04%	7.48%	11.44%	-10.67%	2.59%	7.13%	4.02%
CWFIX Chartwell Short Duration High Yield Fund	1.61%	6.99%	5.78%	7.80%	-3.17%	2.40%	4.38%	0.87%

Correlation

The correlation between FHHIX and CWFIX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.74

The correlation between FHHIX and CWFIX has been stable across timeframes, ranging from 0.73 to 0.75 - a consistent structural relationship.

Return for Risk

FHHIX vs. CWFIX — Risk / Return Rank

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

FHHIX

FHHIX Risk / Return Rank: 77
FHHIX Sharpe Ratio Rank: 90
FHHIX Sortino Ratio Rank: 93
FHHIX Omega Ratio Rank: 91
FHHIX Calmar Ratio Rank: 51
FHHIX Martin Ratio Rank: 61

CWFIX

CWFIX Risk / Return Rank: 97
CWFIX Sharpe Ratio Rank: 98
CWFIX Sortino Ratio Rank: 98
CWFIX Omega Ratio Rank: 97
CWFIX Calmar Ratio Rank: 93
CWFIX Martin Ratio Rank: 97

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.

FHHIX vs. CWFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes SDG Engagement High Yield Credit Fund (FHHIX) and Chartwell Short Duration High Yield Fund (CWFIX). 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.

	FHHIX	CWFIX	Difference
Sharpe ratio: Return per unit of total volatility	2.75	3.58	-0.82
Sortino ratio: Return per unit of downside risk	4.34	5.91	-1.57
Omega ratio: Gain probability vs. loss probability	1.64	1.98	-0.34
Calmar ratio: Return relative to maximum drawdown	2.63	4.78	-2.15
Martin ratio: Return relative to average drawdown	11.42	25.56	-14.13

FHHIX vs. CWFIX - Sharpe Ratio Comparison

The current FHHIX Sharpe Ratio is 2.75, which is comparable to the CWFIX Sharpe Ratio of 3.58. The chart below compares the historical Sharpe Ratios of FHHIX and CWFIX, 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

FHHIX vs. CWFIX - Drawdown Comparison

The maximum FHHIX drawdown since its inception was -23.36%, which is greater than CWFIX's maximum drawdown of -12.41%. Use the drawdown chart below to compare losses from any high point for FHHIX and CWFIX.

Drawdown Indicators

	FHHIX	CWFIX	Difference
Max Drawdown Largest peak-to-trough decline	-23.36%	-12.41%	-10.95%
Max Drawdown (1Y) Largest decline over 1 year	-2.71%	-1.13%	-1.58%
Max Drawdown (3Y) Largest decline over 3 years	-3.45%	-1.37%	-2.08%
Max Drawdown (5Y) Largest decline over 5 years	-17.93%	-6.36%	-11.57%
Max Drawdown (10Y) Largest decline over 10 years	—	-12.41%	—
Current Drawdown Current decline from peak	-0.10%	-0.10%	0.00%
Average Drawdown Average peak-to-trough decline	-3.70%	-0.85%	-2.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.60%	0.21%	+0.39%

Volatility

FHHIX vs. CWFIX - Volatility Comparison

Federated Hermes SDG Engagement High Yield Credit Fund (FHHIX) has a higher volatility of 0.71% compared to Chartwell Short Duration High Yield Fund (CWFIX) at 0.41%. This indicates that FHHIX's price experiences larger fluctuations and is considered to be riskier than CWFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHHIX	CWFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.71%	0.41%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	2.15%	1.21%	+0.94%
Volatility (1Y) Calculated over the trailing 1-year period	2.59%	1.51%	+1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.26%	2.76%	+1.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.03%	3.09%	+2.94%

FHHIX vs. CWFIX - Expense Ratio Comparison

FHHIX has a 1.57% expense ratio, which is higher than CWFIX's 0.49% expense ratio.

Dividends

FHHIX vs. CWFIX - Dividend Comparison

FHHIX's dividend yield for the trailing twelve months is around 5.16%, which matches CWFIX's 5.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CWFIX Chartwell Short Duration High Yield Fund	5.15%	5.17%	5.09%	4.41%	3.17%	2.79%	3.38%	3.60%	3.24%	2.82%	3.79%	3.32%
FHHIX Federated Hermes SDG Engagement High Yield Credit Fund	5.16%	5.20%	4.88%	3.43%	4.95%	5.43%	3.34%	0.97%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FHHIX and CWFIX in my portfolio?

FHHIX and CWFIX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHHIX or CWFIX?

FHHIX has higher volatility (0.71%) compared to CWFIX (0.41%). In terms of maximum drawdown, FHHIX dropped -23.36% vs CWFIX's -12.41%.

Which has better risk-adjusted returns?

CWFIX currently has the higher Sharpe Ratio (3.58 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.