FHYS vs. FLCG

Last updated Aug 2, 2026

FHYS (Federated Hermes Short Duration High Yield ETF) and FLCG (Federated Hermes MDT Large Cap Growth ETF) are both exchange-traded funds - FHYS is a High Yield Bonds fund actively managed by Federated, while FLCG is a Large Cap Growth Equities fund actively managed by Federated. Both are actively managed. Over the past year, FHYS returned 4.84% vs 10.54% for FLCG. Their 0.54 correlation means they have sometimes moved together and sometimes differently. FHYS charges 0.51%/yr vs 0.39%/yr for FLCG.

Performance

FHYS vs. FLCG - 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 MDT Large Cap Growth ETF (FLCG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHYS achieves a 1.69% return, which is significantly lower than FLCG's 2.09% return.

FHYS

• 1D: -0.08%
• 1M: -0.27%
• 6M: 1.41%
• YTD: 1.69%
• 1Y: 4.84%
• 3Y*: 7.21%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.33%

FLCG

• 1D: 0.93%
• 1M: 0.21%
• 6M: 4.34%
• YTD: 2.09%
• 1Y: 10.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.18%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FHYS Federated Hermes Short Duration High Yield ETF	$243.03K	$357.29K	$377.47K
FLCG Federated Hermes MDT Large Cap Growth ETF	$2.20M	$2.46M	$2.52M

FHYS vs. FLCG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FHYS Federated Hermes Short Duration High Yield ETF	1.69%	7.72%	2.43%
FLCG Federated Hermes MDT Large Cap Growth ETF	2.09%	16.87%	13.11%

Correlation

The correlation between FHYS and FLCG is 0.57, 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.	0.57
Correlation (All Time) Calculated using the full available price history since Jul 31, 2024	0.54

The correlation between FHYS and FLCG has been stable across timeframes, ranging from 0.54 to 0.57 - a consistent structural relationship.

Return for Risk

FHYS vs. FLCG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FHYS

FHYS Risk / Return Rank: 84
FHYS Sharpe Ratio Rank: 80
FHYS Sortino Ratio Rank: 85
FHYS Omega Ratio Rank: 85
FHYS Calmar Ratio Rank: 81
FHYS Martin Ratio Rank: 91

FLCG

FLCG Risk / Return Rank: 22
FLCG Sharpe Ratio Rank: 23
FLCG Sortino Ratio Rank: 22
FLCG Omega Ratio Rank: 22
FLCG Calmar Ratio Rank: 20
FLCG Martin Ratio Rank: 23

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FHYS vs. FLCG - 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 MDT Large Cap Growth ETF (FLCG). 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.

	FHYS	FLCG	Difference
Sharpe ratio: Return per unit of total volatility	1.83	0.48	+1.35
Sortino ratio: Return per unit of downside risk	2.83	0.77	+2.06
Omega ratio: Gain probability vs. loss probability	1.37	1.09	+0.28
Calmar ratio: Return relative to maximum drawdown	2.96	0.54	+2.42
Martin ratio: Return relative to average drawdown	14.74	1.65	+13.10

FHYS vs. FLCG - Sharpe Ratio Comparison

The current FHYS Sharpe Ratio is 1.83, which is higher than the FLCG Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of FHYS and FLCG, 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

FHYS vs. FLCG - Drawdown Comparison

The maximum FHYS drawdown since its inception was -11.62%, smaller than the maximum FLCG drawdown of -22.95%. Use the drawdown chart below to compare losses from any high point for FHYS and FLCG.

Drawdown Indicators

	FHYS	FLCG	Difference
Max Drawdown Largest peak-to-trough decline	-11.62%	-22.95%	+11.33%
Max Drawdown (1Y) Largest decline over 1 year	-1.66%	-15.07%	+13.41%
Max Drawdown (3Y) Largest decline over 3 years	-3.16%	—	—
Current Drawdown Current decline from peak	-0.39%	-4.42%	+4.03%
Average Drawdown Average peak-to-trough decline	-2.21%	-3.75%	+1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	4.91%	-4.58%

Volatility

FHYS vs. FLCG - Volatility Comparison

The current volatility for Federated Hermes Short Duration High Yield ETF (FHYS) is 0.65%, while Federated Hermes MDT Large Cap Growth ETF (FLCG) has a volatility of 5.39%. This indicates that FHYS experiences smaller price fluctuations and is considered to be less risky than FLCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHYS	FLCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.65%	5.39%	-4.74%
Volatility (6M) Calculated over the trailing 6-month period	2.25%	13.16%	-10.91%
Volatility (1Y) Calculated over the trailing 1-year period	2.69%	16.75%	-14.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.88%	20.99%	-16.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.88%	20.99%	-16.11%

FHYS vs. FLCG - Expense Ratio Comparison

FHYS has a 0.51% expense ratio, which is higher than FLCG's 0.39% expense ratio.

Dividends

FHYS vs. FLCG - Dividend Comparison

FHYS's dividend yield for the trailing twelve months is around 5.93%, more than FLCG's 0.05% yield.

Position	TTM	2025	2024	2023	2022	2021
FHYS Federated Hermes Short Duration High Yield ETF	5.93%	5.96%	6.42%	6.76%	6.25%	0.16%
FLCG Federated Hermes MDT Large Cap Growth ETF	0.05%	0.05%	0.06%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FHYS and FLCG in my portfolio?

FHYS and FLCG have a correlation of 0.57, 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 FLCG?

FLCG has higher volatility (5.39%) compared to FHYS (0.65%). In terms of maximum drawdown, FHYS dropped -11.62% vs FLCG's -22.95%.

Which ETF is better, FHYS or FLCG?

On 1-year performance, FLCG leads with 10.54% vs 4.84% for FHYS. On fees, FLCG is cheaper at 0.39% per year. On volatility, FHYS has been the lower-risk option at 0.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FHYS or FLCG?

Over the 1-year period, FLCG has performed better with a 10.54% return vs 4.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FHYS or FLCG?

FLCG is cheaper with a 0.39% expense ratio, compared with 0.51% for FHYS.

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

FHYS has the higher dividend yield at 5.93%, compared with 0.05% for FLCG.

What is the main difference between FHYS and FLCG?

FHYS is categorized as High Yield Bonds, while FLCG is Large Cap Growth Equities. Their fees differ too: 0.51% for FHYS and 0.39% for FLCG.

Which has better risk-adjusted returns?

FHYS currently has the higher Sharpe Ratio (1.83 vs 0.48), 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.