FHIIX vs. FGSAX
FHIIX (Federated Hermes High Income Bond Fund) and FGSAX (Federated Hermes MDT Mid Cap Growth Fund) are both mutual funds - FHIIX is a High Yield Bonds fund managed by Federated, while FGSAX is a Mid Cap Growth Equities fund managed by Federated. Over the past 10 years, FHIIX returned 4.48%/yr vs 14.50%/yr for FGSAX. Their 0.28 correlation means their historical movements had little consistent relationship. FHIIX charges 0.90%/yr vs 1.15%/yr for FGSAX.
Performance
FHIIX vs. FGSAX - Performance Comparison
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Returns By Period
In the year-to-date period, FHIIX achieves a 0.42% return, which is significantly higher than FGSAX's -0.82% return. Over the past 10 years, FHIIX has underperformed FGSAX with an annualized return of 4.48%, while FGSAX has yielded a comparatively higher 14.50% annualized return.
FHIIX
- 1D
- 0.15%
- 1M
- -0.88%
- 6M
- 0.28%
- YTD
- 0.42%
- 1Y
- 3.57%
- 3Y*
- 6.80%
- 5Y*
- 2.88%
- 10Y*
- 4.48%
- ALL TIME*
- 4.95%
FGSAX
- 1D
- 2.55%
- 1M
- -1.53%
- 6M
- 0.10%
- YTD
- -0.82%
- 1Y
- -1.90%
- 3Y*
- 15.49%
- 5Y*
- 7.87%
- 10Y*
- 14.50%
- ALL TIME*
- 10.02%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FHIIX vs. FGSAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FHIIX Federated Hermes High Income Bond Fund | 0.42% | 8.00% | 6.16% | 12.42% | -11.74% | 4.68% | 5.90% | 14.35% | -3.06% | 6.54% |
FGSAX Federated Hermes MDT Mid Cap Growth Fund | -0.82% | 10.54% | 32.97% | 27.05% | -24.60% | 22.39% | 35.50% | 27.95% | -3.23% | 24.38% |
Correlation
The correlation between FHIIX and FGSAX is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.55 |
Correlation (3Y) Balances recent behavior with more history. | 0.50 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.52 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.49 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 1984 | 0.28 |
Over the past year, FHIIX and FGSAX have become more correlated (0.55) than their long-term average of 0.28, meaning their price movements have been converging.
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Return for Risk
FHIIX vs. FGSAX — Risk / Return Rank
FHIIX
FGSAX
FHIIX vs. FGSAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes High Income Bond Fund (FHIIX) and Federated Hermes MDT Mid Cap Growth Fund (FGSAX). 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.
| FHIIX | FGSAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.15 | ||
| Sortino ratioReturn per unit of downside risk | +1.53 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.00 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | -0.10 | +1.47 |
| Martin ratioReturn relative to average drawdown | 6.23 | -0.25 | +6.48 |
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Drawdowns
FHIIX vs. FGSAX - Drawdown Comparison
The maximum FHIIX drawdown since its inception was -35.49%, smaller than the maximum FGSAX drawdown of -66.17%. Use the drawdown chart below to compare losses from any high point for FHIIX and FGSAX.
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Drawdown Indicators
| FHIIX | FGSAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.49% | -66.17% | +30.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -13.73% | +11.22% |
Max Drawdown (3Y)Largest decline over 3 years | -3.56% | -24.51% | +20.95% |
Max Drawdown (5Y)Largest decline over 5 years | -15.39% | -35.79% | +20.40% |
Max Drawdown (10Y)Largest decline over 10 years | -21.19% | -37.19% | +16.00% |
Current DrawdownCurrent decline from peak | -1.02% | -5.42% | +4.40% |
Average DrawdownAverage peak-to-trough decline | -5.31% | -16.10% | +10.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 5.33% | -4.78% |
Volatility
FHIIX vs. FGSAX - Volatility Comparison
The current volatility for Federated Hermes High Income Bond Fund (FHIIX) is 0.90%, while Federated Hermes MDT Mid Cap Growth Fund (FGSAX) has a volatility of 4.96%. This indicates that FHIIX experiences smaller price fluctuations and is considered to be less risky than FGSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHIIX | FGSAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 4.96% | -4.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 13.47% | -10.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.18% | 17.81% | -14.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.00% | 22.54% | -17.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.44% | 22.29% | -16.85% |
FHIIX vs. FGSAX - Expense Ratio Comparison
FHIIX has a 0.90% expense ratio, which is lower than FGSAX's 1.15% expense ratio.
Dividends
FHIIX vs. FGSAX - Dividend Comparison
FHIIX's dividend yield for the trailing twelve months is around 5.05%, more than FGSAX's 4.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FGSAX Federated Hermes MDT Mid Cap Growth Fund | 4.96% | 4.92% | 4.32% | 0.00% | 2.31% | 25.75% | 7.07% | 8.13% | 14.46% | 13.93% | 0.89% | 25.34% |
FHIIX Federated Hermes High Income Bond Fund | 5.05% | 5.29% | 5.36% | 5.50% | 5.70% | 4.60% | 4.97% | 5.28% | 5.75% | 5.29% | 5.14% | 5.94% |
Frequently Asked Questions
FHIIX and FGSAX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FGSAX has higher volatility (4.96%) compared to FHIIX (0.90%). In terms of maximum drawdown, FHIIX dropped -35.49% vs FGSAX's -66.17%.
FHIIX currently has the higher Sharpe Ratio (1.08 vs -0.07), 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.
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