FHYS vs. FTRB

Last updated Jun 23, 2026

FHYS (Federated Hermes Short Duration High Yield ETF) and FTRB (Federated Hermes Total Return Bond ETF) are both exchange-traded funds - FHYS is a High Yield Bonds fund actively managed by Federated, while FTRB is a Intermediate Core-Plus Bond fund actively managed by Federated. Both are actively managed. Over the past year, FHYS returned 6.13% vs 5.00% for FTRB. At a 0.40 correlation, their price movements are largely independent. FHYS charges 0.51%/yr vs 0.39%/yr for FTRB.

Performance

FHYS vs. FTRB - 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 Total Return Bond ETF (FTRB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHYS achieves a 1.74% return, which is significantly higher than FTRB's 0.31% return.

FHYS

• 1D: -0.03%
• 1M: 0.43%
• YTD: 1.74%
• 6M: 2.02%
• 1Y: 6.13%
• 3Y*: 7.79%
• 5Y*: —
• 10Y*: —

FTRB

• 1D: -0.18%
• 1M: 0.67%
• YTD: 0.31%
• 6M: 0.47%
• 1Y: 5.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FHYS vs. FTRB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FHYS Federated Hermes Short Duration High Yield ETF	1.74%	7.72%	7.47%
FTRB Federated Hermes Total Return Bond ETF	0.31%	7.60%	2.62%

Correlation

The correlation between FHYS and FTRB is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jan 4, 2024	0.40

Return for Risk

FHYS vs. FTRB — 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: 75
FHYS Sortino Ratio Rank: 84
FHYS Omega Ratio Rank: 84
FHYS Calmar Ratio Rank: 75
FHYS Martin Ratio Rank: 89

FTRB

FTRB Risk / Return Rank: 39
FTRB Sharpe Ratio Rank: 41
FTRB Sortino Ratio Rank: 41
FTRB Omega Ratio Rank: 40
FTRB Calmar Ratio Rank: 36
FTRB Martin Ratio Rank: 36

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. FTRB - 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 Total Return Bond ETF (FTRB). 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	FTRB	Difference
Sharpe ratio: Return per unit of total volatility	2.29	1.40	+0.89
Sortino ratio: Return per unit of downside risk	3.59	2.06	+1.53
Omega ratio: Gain probability vs. loss probability	1.49	1.26	+0.23
Calmar ratio: Return relative to maximum drawdown	3.70	1.79	+1.91
Martin ratio: Return relative to average drawdown	19.00	5.30	+13.70

FHYS vs. FTRB - Sharpe Ratio Comparison

The current FHYS Sharpe Ratio is 2.29, which is higher than the FTRB Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of FHYS and FTRB, 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. FTRB - Drawdown Comparison

The maximum FHYS drawdown since its inception was -11.62%, which is greater than FTRB's maximum drawdown of -4.83%. Use the drawdown chart below to compare losses from any high point for FHYS and FTRB.

Drawdown Indicators

	FHYS	FTRB	Difference
Max Drawdown Largest peak-to-trough decline	-11.62%	-4.83%	-6.79%
Max Drawdown (1Y) Largest decline over 1 year	-1.66%	-2.80%	+1.14%
Max Drawdown (3Y) Largest decline over 3 years	-3.16%	—	—
Current Drawdown Current decline from peak	-0.03%	-1.35%	+1.32%
Average Drawdown Average peak-to-trough decline	-2.26%	-1.29%	-0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	0.94%	-0.62%

Volatility

FHYS vs. FTRB - Volatility Comparison

The current volatility for Federated Hermes Short Duration High Yield ETF (FHYS) is 0.63%, while Federated Hermes Total Return Bond ETF (FTRB) has a volatility of 0.96%. This indicates that FHYS experiences smaller price fluctuations and is considered to be less risky than FTRB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHYS	FTRB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.63%	0.96%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	2.21%	2.67%	-0.46%
Volatility (1Y) Calculated over the trailing 1-year period	2.69%	3.58%	-0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.93%	4.54%	+0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.93%	4.54%	+0.39%

FHYS vs. FTRB - Expense Ratio Comparison

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

Dividends

FHYS vs. FTRB - Dividend Comparison

FHYS's dividend yield for the trailing twelve months is around 5.75%, more than FTRB's 4.29% yield.

Position	TTM	2025	2024	2023	2022	2021
FHYS Federated Hermes Short Duration High Yield ETF	5.75%	5.96%	6.42%	6.76%	6.25%	0.16%
FTRB Federated Hermes Total Return Bond ETF	4.29%	4.46%	4.40%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FHYS and FTRB in my portfolio?

FHYS and FTRB have a correlation of 0.49, 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 FTRB?

FTRB has higher volatility (0.96%) compared to FHYS (0.63%). In terms of maximum drawdown, FHYS dropped -11.62% vs FTRB's -4.83%.

Which ETF is better, FHYS or FTRB?

On 1-year performance, FHYS leads with 6.13% vs 5.00% for FTRB. On fees, FTRB is cheaper at 0.39% per year. On volatility, FHYS has been the lower-risk option at 0.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FHYS or FTRB?

Over the 1-year period, FHYS has performed better with a 6.13% return vs 5.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FHYS or FTRB?

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

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

FHYS has the higher dividend yield at 5.75%, compared with 4.29% for FTRB.

What is the main difference between FHYS and FTRB?

FHYS is categorized as High Yield Bonds, while FTRB is Intermediate Core-Plus Bond. Their fees differ too: 0.51% for FHYS and 0.39% for FTRB.

Which has better risk-adjusted returns?

FHYS currently has the higher Sharpe Ratio (2.29 vs 1.40), 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.