FHI vs. APO

Last updated Jun 9, 2026

FHI (Federated Hermes, Inc.) and APO (Apollo Global Management, Inc.) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, FHI returned 11.31%/yr vs 28.04%/yr for APO. At a 0.42 correlation, their price movements are largely independent.

Performance

FHI vs. APO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes, Inc. (FHI) and Apollo Global Management, Inc. (APO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHI achieves a 10.86% return, which is significantly higher than APO's -11.14% return. Over the past 10 years, FHI has underperformed APO with an annualized return of 11.31%, while APO has yielded a comparatively higher 28.04% annualized return.

FHI

• 1D: -0.14%
• 1M: 1.79%
• YTD: 10.86%
• 6M: 14.99%
• 1Y: 38.36%
• 3Y*: 19.65%
• 5Y*: 16.33%
• 10Y*: 11.31%

APO

• 1D: -0.36%
• 1M: -3.82%
• YTD: -11.14%
• 6M: -6.37%
• 1Y: -2.88%
• 3Y*: 22.38%
• 5Y*: 19.80%
• 10Y*: 28.04%

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

FHI vs. APO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FHI Federated Hermes, Inc.	10.86%	30.45%	29.60%	-3.72%	-0.16%	34.68%	-3.79%	27.07%	-23.34%	32.26%
APO Apollo Global Management, Inc.	-11.14%	-11.12%	79.87%	49.44%	-9.59%	53.25%	8.00%	106.46%	-22.03%	85.29%

Correlation

The correlation between FHI and APO is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Mar 31, 2011	0.42

Fundamentals

Market Cap FHI : $4.14B APO : $75.90B
EPS FHI : $5.35 APO : $3.58
PE Ratio FHI : 10.65 APO : 35.61
PEG Ratio FHI : 0.50 APO : 0.09
PS Ratio FHI : 2.28 APO : 2.58
PB Ratio FHI : 2.66 APO : 4.09
Total Revenue (TTM) FHI : $1.86B APO : $29.68B
Gross Profit (TTM) FHI : $958.45M APO : $26.52B
EBITDA (TTM) FHI : $564.21M APO : $9.28B

Return for Risk

FHI vs. APO — Risk / Return Rank

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

FHI

FHI Risk / Return Rank: 83
FHI Sharpe Ratio Rank: 86
FHI Sortino Ratio Rank: 81
FHI Omega Ratio Rank: 80
FHI Calmar Ratio Rank: 84
FHI Martin Ratio Rank: 87

APO

APO Risk / Return Rank: 37
APO Sharpe Ratio Rank: 39
APO Sortino Ratio Rank: 34
APO Omega Ratio Rank: 33
APO Calmar Ratio Rank: 40
APO Martin Ratio Rank: 39

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.

FHI vs. APO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes, Inc. (FHI) and Apollo Global Management, Inc. (APO). 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.

	FHI	APO	Difference
Sharpe ratio: Return per unit of total volatility	1.72	-0.08	+1.80
Sortino ratio: Return per unit of downside risk	2.26	0.13	+2.14
Omega ratio: Gain probability vs. loss probability	1.29	1.02	+0.27
Calmar ratio: Return relative to maximum drawdown	3.07	-0.08	+3.15
Martin ratio: Return relative to average drawdown	9.52	-0.17	+9.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FHI vs. APO - Sharpe Ratio Comparison

The current FHI Sharpe Ratio is 1.72, which is higher than the APO Sharpe Ratio of -0.08. The chart below compares the historical Sharpe Ratios of FHI and APO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FHI	APO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	-0.08	+1.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.54	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.74	-0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.58	-0.30

Drawdowns

FHI vs. APO - Drawdown Comparison

The maximum FHI drawdown since its inception was -64.89%, which is greater than APO's maximum drawdown of -56.99%. Use the drawdown chart below to compare losses from any high point for FHI and APO.

Drawdown Indicators

	FHI	APO	Difference
Max Drawdown Largest peak-to-trough decline	-64.89%	-56.99%	-7.90%
Max Drawdown (1Y) Largest decline over 1 year	-12.57%	-34.97%	+22.40%
Max Drawdown (3Y) Largest decline over 3 years	-20.17%	-42.82%	+22.65%
Max Drawdown (5Y) Largest decline over 5 years	-29.61%	-42.82%	+13.21%
Max Drawdown (10Y) Largest decline over 10 years	-64.89%	-53.48%	-11.41%
Current Drawdown Current decline from peak	-1.63%	-26.97%	+25.34%
Average Drawdown Average peak-to-trough decline	-15.74%	-16.37%	+0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.04%	16.62%	-12.58%

Volatility

FHI vs. APO - Volatility Comparison

The current volatility for Federated Hermes, Inc. (FHI) is 6.88%, while Apollo Global Management, Inc. (APO) has a volatility of 8.60%. This indicates that FHI experiences smaller price fluctuations and is considered to be less risky than APO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHI	APO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.88%	8.60%	-1.72%
Volatility (6M) Calculated over the trailing 6-month period	17.64%	27.16%	-9.52%
Volatility (1Y) Calculated over the trailing 1-year period	22.44%	35.27%	-12.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.87%	37.07%	-12.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.44%	37.82%	-5.38%

Dividends

FHI vs. APO - Dividend Comparison

FHI's dividend yield for the trailing twelve months is around 2.46%, more than APO's 1.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APO Apollo Global Management, Inc.	1.64%	1.38%	1.10%	1.81%	2.51%	2.90%	4.72%	4.23%	7.86%	5.53%	6.46%	12.91%
FHI Federated Hermes, Inc.	2.46%	2.55%	5.38%	3.38%	2.97%	2.87%	7.20%	3.31%	3.99%	2.77%	7.07%	3.49%

Financials

FHI vs. APO - Profitability Comparison

The chart below illustrates the profitability comparison between Federated Hermes, Inc. and Apollo Global Management, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

FHI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Federated Hermes, Inc. reported a gross profit of 0.00 and revenue of 478.96M. Therefore, the gross margin over that period was 0.0%.

APO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Apollo Global Management, Inc. reported a gross profit of 4.93B and revenue of 4.93B. Therefore, the gross margin over that period was 100.0%.

FHI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Federated Hermes, Inc. reported an operating income of 126.33M and revenue of 478.96M, resulting in an operating margin of 26.4%.

APO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Apollo Global Management, Inc. reported an operating income of 330.00M and revenue of 4.93B, resulting in an operating margin of 6.7%.

FHI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Federated Hermes, Inc. reported a net income of 95.95M and revenue of 478.96M, resulting in a net margin of 20.0%.

APO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Apollo Global Management, Inc. reported a net income of -1.91B and revenue of 4.93B, resulting in a net margin of -38.7%.

Frequently Asked Questions

Can I hold both FHI and APO in my portfolio?

FHI and APO have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHI or APO?

APO has higher volatility (8.60%) compared to FHI (6.88%). In terms of maximum drawdown, FHI dropped -64.89% vs APO's -56.99%.

Which has better risk-adjusted returns?

FHI currently has the higher Sharpe Ratio (1.72 vs -0.08), 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.