FHYS vs. JPHY

Last updated Jun 5, 2026

FHYS (Federated Hermes Short Duration High Yield ETF) and JPHY (JPMorgan High Yield Research Enhanced ETF) are both High Yield Bonds funds. Both are actively managed. A 0.76 correlation means they provide meaningful diversification when combined. FHYS charges 0.51%/yr vs 0.24%/yr for JPHY.

Performance

FHYS vs. JPHY - Performance Comparison

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

Returns By Period

In the year-to-date period, FHYS achieves a 1.59% return, which is significantly lower than JPHY's 2.06% return.

FHYS

• 1D: 0.11%
• 1M: 0.46%
• YTD: 1.59%
• 6M: 2.04%
• 1Y: 6.40%
• 3Y*: 7.91%
• 5Y*: —
• 10Y*: —

JPHY

• 1D: -0.01%
• 1M: 0.35%
• YTD: 2.06%
• 6M: 2.42%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FHYS vs. JPHY - Yearly Performance Comparison

	2026 (YTD)	2025
FHYS Federated Hermes Short Duration High Yield ETF	1.59%	3.78%
JPHY JPMorgan High Yield Research Enhanced ETF	2.06%	4.00%

Correlation

The correlation between FHYS and JPHY is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.76

FHYS vs. JPHY - Sectors Allocation Comparison

Sectors	FHYS	JPHY
Communication Services	91.7%	15.8%
Industrials	8.3%	10.8%
Basic Materials	-	3.6%
Consumer Cyclical	-	8.9%
Consumer Defensive	-	2.4%
Energy	-	7.0%
Financial Services	-	1.8%
Healthcare	-	5.1%
Real Estate	-	3.0%
Technology	-	4.8%
Utilities	-	2.8%

Return for Risk

FHYS vs. JPHY — Risk / Return Rank

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

FHYS

FHYS Risk / Return Rank: 83
FHYS Sharpe Ratio Rank: 76
FHYS Sortino Ratio Rank: 85
FHYS Omega Ratio Rank: 86
FHYS Calmar Ratio Rank: 77
FHYS Martin Ratio Rank: 89

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. JPHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Short Duration High Yield ETF (FHYS) and JPMorgan High Yield Research Enhanced ETF (JPHY). 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	JPHY	Difference
Sharpe ratio: Return per unit of total volatility	2.41	—	—
Sortino ratio: Return per unit of downside risk	3.77	—	—
Omega ratio: Gain probability vs. loss probability	1.51	—	—
Calmar ratio: Return relative to maximum drawdown	3.86	—	—
Martin ratio: Return relative to average drawdown	19.93	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FHYS	JPHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	2.16	-1.24

Drawdowns

FHYS vs. JPHY - Drawdown Comparison

The maximum FHYS drawdown since its inception was -11.62%, which is greater than JPHY's maximum drawdown of -1.65%. Use the drawdown chart below to compare losses from any high point for FHYS and JPHY.

Drawdown Indicators

	FHYS	JPHY	Difference
Max Drawdown Largest peak-to-trough decline	-11.62%	-1.65%	-9.97%
Max Drawdown (1Y) Largest decline over 1 year	-1.66%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-3.16%	—	—
Current Drawdown Current decline from peak	-0.05%	-0.10%	+0.05%
Average Drawdown Average peak-to-trough decline	-2.28%	-0.21%	-2.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	—	—

Volatility

Volatility by Period

	FHYS	JPHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.17%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.67%	3.04%	-0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.94%	3.04%	+1.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.94%	3.04%	+1.90%

FHYS vs. JPHY - Expense Ratio Comparison

FHYS has a 0.51% expense ratio, which is higher than JPHY's 0.24% expense ratio.

Dividends

FHYS vs. JPHY - Dividend Comparison

FHYS's dividend yield for the trailing twelve months is around 5.76%, less than JPHY's 5.92% yield.

Position	TTM	2025	2024	2023	2022	2021
FHYS Federated Hermes Short Duration High Yield ETF	5.76%	5.96%	6.42%	6.76%	6.25%	0.16%
JPHY JPMorgan High Yield Research Enhanced ETF	5.92%	3.32%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FHYS and JPHY in my portfolio?

FHYS and JPHY have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FHYS or JPHY?

On fees, JPHY is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FHYS or JPHY?

JPHY is cheaper with a 0.24% expense ratio, compared with 0.51% for FHYS.

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

JPHY has the higher dividend yield at 5.92%, compared with 5.76% for FHYS.

What is the main difference between FHYS and JPHY?

They also come from different issuers: Federated and JPMorgan. Their fees differ too: 0.51% for FHYS and 0.24% for JPHY.