FHYS vs. NHYB
FHYS (Federated Hermes Short Duration High Yield ETF) and NHYB (Nuveen High Yield Corporate Bond ETF) are both High Yield Bonds funds. FHYS is actively managed, while NHYB is passively managed. Their correlation of 0.83 suggests significant overlap in exposure. FHYS charges 0.51%/yr vs 0.08%/yr for NHYB.
Performance
FHYS vs. NHYB - Performance Comparison
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Returns By Period
In the year-to-date period, FHYS achieves a 1.74% return, which is significantly lower than NHYB's 1.96% return.
FHYS
- 1D
- -0.03%
- 1M
- 0.43%
- YTD
- 1.74%
- 6M
- 2.02%
- 1Y
- 6.13%
- 3Y*
- 7.79%
- 5Y*
- —
- 10Y*
- —
NHYB
- 1D
- -0.12%
- 1M
- 0.56%
- YTD
- 1.96%
- 6M
- 2.20%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FHYS vs. NHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FHYS Federated Hermes Short Duration High Yield ETF | 1.74% | 1.94% |
NHYB Nuveen High Yield Corporate Bond ETF | 1.96% | 1.24% |
Correlation
The correlation between FHYS and NHYB is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025 | 0.83 |
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Return for Risk
FHYS vs. NHYB — Risk / Return Rank
FHYS
NHYB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FHYS vs. NHYB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Short Duration High Yield ETF (FHYS) and Nuveen High Yield Corporate Bond ETF (NHYB). 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 | NHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.49 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | — | — |
| Martin ratioReturn relative to average drawdown | 19.00 | — | — |
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Drawdowns
FHYS vs. NHYB - Drawdown Comparison
The maximum FHYS drawdown since its inception was -11.62%, which is greater than NHYB's maximum drawdown of -2.40%. Use the drawdown chart below to compare losses from any high point for FHYS and NHYB.
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Drawdown Indicators
| FHYS | NHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.62% | -2.40% | -9.22% |
Max Drawdown (1Y)Largest decline over 1 year | -1.66% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -3.16% | — | — |
Current DrawdownCurrent decline from peak | -0.03% | -0.15% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -2.26% | -0.36% | -1.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.32% | — | — |
Volatility
FHYS vs. NHYB - Volatility Comparison
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Volatility by Period
| FHYS | NHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.21% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.69% | 3.65% | -0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.93% | 3.65% | +1.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.93% | 3.65% | +1.28% |
FHYS vs. NHYB - Expense Ratio Comparison
FHYS has a 0.51% expense ratio, which is higher than NHYB's 0.08% expense ratio.
Dividends
FHYS vs. NHYB - Dividend Comparison
FHYS's dividend yield for the trailing twelve months is around 5.75%, more than NHYB's 4.24% 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% |
NHYB Nuveen High Yield Corporate Bond ETF | 4.24% | 1.28% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FHYS and NHYB have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NHYB is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NHYB is cheaper with a 0.08% expense ratio, compared with 0.51% for FHYS.
FHYS has the higher dividend yield at 5.75%, compared with 4.24% for NHYB.
They also come from different issuers: Federated and Nuveen. Their fees differ too: 0.51% for FHYS and 0.08% for NHYB.
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