FHYS vs. FDV

Last updated Jun 4, 2026

FHYS (Federated Hermes Short Duration High Yield ETF) and FDV (Federated Hermes U.S. Strategic Dividend ETF) are both exchange-traded funds - FHYS is a High Yield Bonds fund actively managed by Federated, while FDV is a Large Cap Value Equities fund actively managed by Federated. Both are actively managed. Over the past 3 years, FHYS returned 7.83%/yr vs 14.78%/yr for FDV. At a 0.47 correlation, their price movements are largely independent. FHYS charges 0.51%/yr vs 0.50%/yr for FDV.

Performance

FHYS vs. FDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Short Duration High Yield ETF (FHYS) and Federated Hermes U.S. Strategic Dividend ETF (FDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHYS achieves a 1.48% return, which is significantly lower than FDV's 11.72% return.

FHYS

• 1D: -0.16%
• 1M: 0.46%
• YTD: 1.48%
• 6M: 1.89%
• 1Y: 6.49%
• 3Y*: 7.83%
• 5Y*: —
• 10Y*: —

FDV

• 1D: 0.00%
• 1M: 1.90%
• YTD: 11.72%
• 6M: 11.46%
• 1Y: 19.71%
• 3Y*: 14.78%
• 5Y*: —
• 10Y*: —

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

FHYS vs. FDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FHYS Federated Hermes Short Duration High Yield ETF	1.48%	7.72%	7.23%	10.88%	0.41%
FDV Federated Hermes U.S. Strategic Dividend ETF	11.72%	11.01%	14.41%	-2.16%	1.92%

Correlation

The correlation between FHYS and FDV is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (All Time) Calculated using the full available price history since Nov 17, 2022	0.47

The correlation between FHYS and FDV shifts across timeframes, from 0.36 (1 year) to 0.47 (all time), reflecting how their relationship changes across market environments.

FHYS vs. FDV - Sectors Allocation Comparison

Sectors	FHYS	FDV
Communication Services	91.7%	2.0%
Industrials	8.3%	3.8%
Basic Materials	-	1.6%
Consumer Cyclical	-	5.1%
Consumer Defensive	-	11.8%
Energy	-	9.7%
Financial Services	-	16.6%
Healthcare	-	12.6%
Real Estate	-	9.0%
Technology	-	10.9%
Utilities	-	16.9%

Return for Risk

FHYS vs. FDV — Risk / Return Rank

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

FHYS

FHYS Risk / Return Rank: 82
FHYS Sharpe Ratio Rank: 76
FHYS Sortino Ratio Rank: 85
FHYS Omega Ratio Rank: 85
FHYS Calmar Ratio Rank: 77
FHYS Martin Ratio Rank: 89

FDV

FDV Risk / Return Rank: 63
FDV Sharpe Ratio Rank: 58
FDV Sortino Ratio Rank: 64
FDV Omega Ratio Rank: 55
FDV Calmar Ratio Rank: 74
FDV Martin Ratio Rank: 65

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.

FHYS vs. FDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Short Duration High Yield ETF (FHYS) and Federated Hermes U.S. Strategic Dividend ETF (FDV). 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.

	FHYS	FDV	Difference
Sharpe ratio: Return per unit of total volatility	2.44	2.01	+0.43
Sortino ratio: Return per unit of downside risk	3.82	3.02	+0.80
Omega ratio: Gain probability vs. loss probability	1.52	1.35	+0.17
Calmar ratio: Return relative to maximum drawdown	3.92	3.78	+0.14
Martin ratio: Return relative to average drawdown	20.21	12.05	+8.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FHYS vs. FDV - Sharpe Ratio Comparison

The current FHYS Sharpe Ratio is 2.44, which is comparable to the FDV Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of FHYS and FDV, 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

	FHYS	FDV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	2.01	+0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	0.82	+0.09

Drawdowns

FHYS vs. FDV - Drawdown Comparison

The maximum FHYS drawdown since its inception was -11.62%, smaller than the maximum FDV drawdown of -16.70%. Use the drawdown chart below to compare losses from any high point for FHYS and FDV.

Drawdown Indicators

	FHYS	FDV	Difference
Max Drawdown Largest peak-to-trough decline	-11.62%	-16.70%	+5.08%
Max Drawdown (1Y) Largest decline over 1 year	-1.66%	-5.70%	+4.04%
Max Drawdown (3Y) Largest decline over 3 years	-3.16%	-12.55%	+9.39%
Current Drawdown Current decline from peak	-0.16%	-0.39%	+0.23%
Average Drawdown Average peak-to-trough decline	-2.29%	-3.93%	+1.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	1.79%	-1.47%

Volatility

FHYS vs. FDV - Volatility Comparison

The current volatility for Federated Hermes Short Duration High Yield ETF (FHYS) is 0.76%, while Federated Hermes U.S. Strategic Dividend ETF (FDV) has a volatility of 2.82%. This indicates that FHYS experiences smaller price fluctuations and is considered to be less risky than FDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHYS	FDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	2.82%	-2.06%
Volatility (6M) Calculated over the trailing 6-month period	2.18%	6.82%	-4.64%
Volatility (1Y) Calculated over the trailing 1-year period	2.67%	10.74%	-8.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.95%	12.65%	-7.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.95%	12.65%	-7.70%

FHYS vs. FDV - Expense Ratio Comparison

FHYS has a 0.51% expense ratio, which is higher than FDV's 0.50% expense ratio.

Dividends

FHYS vs. FDV - Dividend Comparison

FHYS's dividend yield for the trailing twelve months is around 5.77%, more than FDV's 2.56% yield.

Position	TTM	2025	2024	2023	2022	2021
FDV Federated Hermes U.S. Strategic Dividend ETF	2.56%	3.11%	3.12%	3.54%	0.18%	0.00%
FHYS Federated Hermes Short Duration High Yield ETF	5.77%	5.96%	6.42%	6.76%	6.25%	0.16%

Frequently Asked Questions

Can I hold both FHYS and FDV in my portfolio?

FHYS and FDV have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHYS or FDV?

FDV has higher volatility (2.82%) compared to FHYS (0.76%). In terms of maximum drawdown, FHYS dropped -11.62% vs FDV's -16.70%.

Which ETF is better, FHYS or FDV?

On 3-year performance, FDV leads with 14.78% vs 7.83% for FHYS. On fees, FDV is cheaper at 0.50% per year. On volatility, FHYS has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FHYS or FDV?

Over the 3-year period, FDV has performed better with a 14.78% return vs 7.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FHYS or FDV?

FDV is cheaper with a 0.50% expense ratio, compared with 0.51% for FHYS.

Which ETF pays a higher dividend yield, FHYS or FDV?

FHYS has the higher dividend yield at 5.77%, compared with 2.56% for FDV.

What is the main difference between FHYS and FDV?

FHYS is categorized as High Yield Bonds, while FDV is Large Cap Value Equities. Their fees differ too: 0.51% for FHYS and 0.50% for FDV.

Which has better risk-adjusted returns?

FHYS currently has the higher Sharpe Ratio (2.44 vs 2.01), 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.