FHYS vs. MKTN

Last updated Aug 2, 2026

FHYS (Federated Hermes Short Duration High Yield ETF) and MKTN (Federated Hermes MDT Market Neutral ETF) are both exchange-traded funds - FHYS is a High Yield Bonds fund actively managed by Federated, while MKTN is a Equity Market Neutral fund actively managed by Federated. Both are actively managed. Their -0.01 correlation means they have often moved in opposite directions in the past. FHYS charges 0.51%/yr vs 1.94%/yr for MKTN.

Performance

FHYS vs. MKTN - 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 Market Neutral ETF (MKTN). 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 MKTN's 6.46% 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%

MKTN

• 1D: 0.33%
• 1M: 4.57%
• 6M: 7.01%
• YTD: 6.46%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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
MKTN Federated Hermes MDT Market Neutral ETF	$666.28K	$482.62K	$621.59K

FHYS vs. MKTN - Yearly Performance Comparison

	2026 (YTD)	2025
FHYS Federated Hermes Short Duration High Yield ETF	1.69%	1.89%
MKTN Federated Hermes MDT Market Neutral ETF	6.46%	3.22%

Correlation

The correlation between FHYS and MKTN is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 25, 2025	-0.01

Return for Risk

FHYS vs. MKTN — 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

MKTN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. MKTN - 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 Market Neutral ETF (MKTN). 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	MKTN	Difference
Sharpe ratio: Return per unit of total volatility	1.83	—	—
Sortino ratio: Return per unit of downside risk	2.83	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	2.96	—	—
Martin ratio: Return relative to average drawdown	14.74	—	—

Drawdowns

FHYS vs. MKTN - Drawdown Comparison

The maximum FHYS drawdown since its inception was -11.62%, which is greater than MKTN's maximum drawdown of -4.13%. Use the drawdown chart below to compare losses from any high point for FHYS and MKTN.

Drawdown Indicators

	FHYS	MKTN	Difference
Max Drawdown Largest peak-to-trough decline	-11.62%	-4.13%	-7.49%
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	-0.39%	0.00%	-0.39%
Average Drawdown Average peak-to-trough decline	-2.21%	-1.08%	-1.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	—	—

Volatility

Volatility by Period

	FHYS	MKTN	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.65%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.25%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.69%	6.65%	-3.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.88%	6.65%	-1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.88%	6.65%	-1.77%

FHYS vs. MKTN - Expense Ratio Comparison

FHYS has a 0.51% expense ratio, which is lower than MKTN's 1.94% expense ratio.

Dividends

FHYS vs. MKTN - Dividend Comparison

FHYS's dividend yield for the trailing twelve months is around 5.93%, more than MKTN's 0.48% 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%
MKTN Federated Hermes MDT Market Neutral ETF	0.48%	0.51%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FHYS and MKTN in my portfolio?

FHYS and MKTN have a correlation of -0.01, 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 MKTN?

On fees, FHYS is cheaper at 0.51% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FHYS or MKTN?

FHYS is cheaper with a 0.51% expense ratio, compared with 1.94% for MKTN.

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

FHYS has the higher dividend yield at 5.93%, compared with 0.48% for MKTN.

What is the main difference between FHYS and MKTN?

FHYS is categorized as High Yield Bonds, while MKTN is Equity Market Neutral. Their fees differ too: 0.51% for FHYS and 1.94% for MKTN.