FHYS vs. SKOR
FHYS (Federated Hermes Short Duration High Yield ETF) and SKOR (FlexShares Credit-Scored US Corporate Bond Index Fund) are both exchange-traded funds - FHYS is a High Yield Bonds fund actively managed by Federated, while SKOR is a Corporate Bonds fund tracking the NorthernTrustUS Corporate Bond Quality Value Index. FHYS is actively managed, while SKOR is passively managed. Over the past 3 years, FHYS returned 7.79%/yr vs 5.95%/yr for SKOR. A 0.56 correlation means they provide meaningful diversification when combined. FHYS charges 0.51%/yr vs 0.22%/yr for SKOR.
Performance
FHYS vs. SKOR - Performance Comparison
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Returns By Period
In the year-to-date period, FHYS achieves a 1.74% return, which is significantly higher than SKOR's 0.35% return.
FHYS
- 1D
- -0.03%
- 1M
- 0.43%
- YTD
- 1.74%
- 6M
- 2.02%
- 1Y
- 6.13%
- 3Y*
- 7.79%
- 5Y*
- —
- 10Y*
- —
SKOR
- 1D
- -0.13%
- 1M
- 0.39%
- YTD
- 0.35%
- 6M
- 0.57%
- 1Y
- 4.66%
- 3Y*
- 5.95%
- 5Y*
- 1.77%
- 10Y*
- 2.81%
FHYS vs. SKOR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FHYS Federated Hermes Short Duration High Yield ETF | 1.74% | 7.72% | 7.23% | 10.88% | -7.31% | 0.73% |
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 0.35% | 7.99% | 4.42% | 7.64% | -9.88% | -0.05% |
Correlation
The correlation between FHYS and SKOR is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021 | 0.56 |
The correlation between FHYS and SKOR has been stable across timeframes, ranging from 0.56 to 0.63 - a consistent structural relationship.
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Return for Risk
FHYS vs. SKOR — Risk / Return Rank
FHYS
SKOR
FHYS vs. SKOR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Short Duration High Yield ETF (FHYS) and FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR). 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 | SKOR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.57 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.32 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 2.24 | +1.46 |
| Martin ratioReturn relative to average drawdown | 19.00 | 7.73 | +11.27 |
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Drawdowns
FHYS vs. SKOR - Drawdown Comparison
The maximum FHYS drawdown since its inception was -11.62%, smaller than the maximum SKOR drawdown of -15.98%. Use the drawdown chart below to compare losses from any high point for FHYS and SKOR.
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Drawdown Indicators
| FHYS | SKOR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.62% | -15.98% | +4.36% |
Max Drawdown (1Y)Largest decline over 1 year | -1.66% | -2.09% | +0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -3.16% | -3.11% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.13% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.98% | — |
Current DrawdownCurrent decline from peak | -0.03% | -0.76% | +0.73% |
Average DrawdownAverage peak-to-trough decline | -2.26% | -2.64% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.32% | 0.60% | -0.28% |
Volatility
FHYS vs. SKOR - Volatility Comparison
The current volatility for Federated Hermes Short Duration High Yield ETF (FHYS) is 0.63%, while FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) has a volatility of 0.83%. This indicates that FHYS experiences smaller price fluctuations and is considered to be less risky than SKOR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHYS | SKOR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 0.83% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.21% | 2.07% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.69% | 2.72% | -0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.93% | 4.43% | +0.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.93% | 4.91% | +0.02% |
FHYS vs. SKOR - Expense Ratio Comparison
FHYS has a 0.51% expense ratio, which is higher than SKOR's 0.22% expense ratio.
Dividends
FHYS vs. SKOR - Dividend Comparison
FHYS's dividend yield for the trailing twelve months is around 5.75%, more than SKOR's 4.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHYS Federated Hermes Short Duration High Yield ETF | 5.75% | 5.96% | 6.42% | 6.76% | 6.25% | 0.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 4.67% | 4.70% | 4.90% | 3.90% | 2.57% | 2.55% | 3.38% | 3.53% | 2.85% | 2.46% | 2.74% | 2.25% |
Frequently Asked Questions
FHYS and SKOR have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SKOR has higher volatility (0.83%) compared to FHYS (0.63%). In terms of maximum drawdown, FHYS dropped -11.62% vs SKOR's -15.98%.
On 3-year performance, FHYS leads with 7.79% vs 5.95% for SKOR. On fees, SKOR is cheaper at 0.22% 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.
Over the 3-year period, FHYS has performed better with a 7.79% return vs 5.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SKOR is cheaper with a 0.22% expense ratio, compared with 0.51% for FHYS.
FHYS has the higher dividend yield at 5.75%, compared with 4.67% for SKOR.
FHYS is categorized as High Yield Bonds, while SKOR is Corporate Bonds. They also come from different issuers: Federated and Northern Trust. Their fees differ too: 0.51% for FHYS and 0.22% for SKOR.
FHYS currently has the higher Sharpe Ratio (2.29 vs 1.72), 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.
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