FHYSX vs. MDHVX
FHYSX (Federated Hermes High-Yield Strategy Portfolio) and MDHVX (MainStay MacKay Short Duration High Yield Fund) are both High Yield Bonds funds. Over the past 10 years, FHYSX returned 4.94%/yr vs 4.39%/yr for MDHVX. Their 0.67 correlation means they have sometimes moved together and sometimes differently. FHYSX charges 0.02%/yr vs 1.10%/yr for MDHVX.
Performance
FHYSX vs. MDHVX - Performance Comparison
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Returns By Period
In the year-to-date period, FHYSX achieves a 0.96% return, which is significantly lower than MDHVX's 1.89% return. Over the past 10 years, FHYSX has outperformed MDHVX with an annualized return of 4.94%, while MDHVX has yielded a comparatively lower 4.39% annualized return.
FHYSX
- 1D
- 0.00%
- 1M
- -0.77%
- 6M
- 0.77%
- YTD
- 0.96%
- 1Y
- 4.60%
- 3Y*
- 7.42%
- 5Y*
- 3.07%
- 10Y*
- 4.94%
- ALL TIME*
- 4.44%
MDHVX
- 1D
- 0.11%
- 1M
- -0.21%
- 6M
- 1.56%
- YTD
- 1.89%
- 1Y
- 3.89%
- 3Y*
- 6.03%
- 5Y*
- 4.24%
- 10Y*
- 4.39%
- ALL TIME*
- 4.30%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FHYSX vs. MDHVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FHYSX Federated Hermes High-Yield Strategy Portfolio | 0.96% | 9.14% | 6.42% | 12.77% | -13.16% | 4.49% | 6.08% | 15.14% | -2.16% | 8.34% |
MDHVX MainStay MacKay Short Duration High Yield Fund | 1.89% | 5.38% | 6.51% | 9.86% | -2.81% | 4.38% | 2.92% | 9.00% | -0.13% | 4.30% |
Correlation
The correlation between FHYSX and MDHVX is 0.36, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.36 |
Correlation (3Y) Balances recent behavior with more history. | 0.54 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.68 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Dec 18, 2012 | 0.67 |
Over the past year, the correlation between FHYSX and MDHVX has dropped to 0.36 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.
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Return for Risk
FHYSX vs. MDHVX — Risk / Return Rank
FHYSX
MDHVX
FHYSX vs. MDHVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes High-Yield Strategy Portfolio (FHYSX) and MainStay MacKay Short Duration High Yield Fund (MDHVX). 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.
| FHYSX | MDHVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.51 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 3.53 | -1.41 |
| Martin ratioReturn relative to average drawdown | 10.39 | 16.88 | -6.49 |
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Drawdowns
FHYSX vs. MDHVX - Drawdown Comparison
The maximum FHYSX drawdown since its inception was -21.45%, which is greater than MDHVX's maximum drawdown of -18.04%. Use the drawdown chart below to compare losses from any high point for FHYSX and MDHVX.
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Drawdown Indicators
| FHYSX | MDHVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.45% | -18.04% | -3.41% |
Max Drawdown (1Y)Largest decline over 1 year | -2.44% | -1.06% | -1.38% |
Max Drawdown (3Y)Largest decline over 3 years | -3.64% | -2.65% | -0.99% |
Max Drawdown (5Y)Largest decline over 5 years | -16.93% | -6.26% | -10.67% |
Max Drawdown (10Y)Largest decline over 10 years | -21.45% | -18.04% | -3.41% |
Current DrawdownCurrent decline from peak | -0.93% | -0.32% | -0.61% |
Average DrawdownAverage peak-to-trough decline | -2.56% | -0.77% | -1.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 0.22% | +0.28% |
Volatility
FHYSX vs. MDHVX - Volatility Comparison
Federated Hermes High-Yield Strategy Portfolio (FHYSX) has a higher volatility of 0.53% compared to MainStay MacKay Short Duration High Yield Fund (MDHVX) at 0.46%. This indicates that FHYSX's price experiences larger fluctuations and is considered to be riskier than MDHVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHYSX | MDHVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 0.46% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.67% | 1.33% | +1.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.40% | 1.80% | +1.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.24% | 2.59% | +2.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.72% | 3.41% | +2.31% |
FHYSX vs. MDHVX - Expense Ratio Comparison
FHYSX has a 0.02% expense ratio, which is lower than MDHVX's 1.10% expense ratio.
Dividends
FHYSX vs. MDHVX - Dividend Comparison
FHYSX's dividend yield for the trailing twelve months is around 5.84%, more than MDHVX's 4.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHYSX Federated Hermes High-Yield Strategy Portfolio | 5.84% | 6.28% | 5.84% | 5.30% | 5.27% | 4.54% | 5.74% | 6.18% | 6.61% | 6.98% | 6.45% | 8.45% |
MDHVX MainStay MacKay Short Duration High Yield Fund | 4.80% | 5.47% | 6.01% | 5.53% | 4.31% | 3.80% | 4.44% | 4.37% | 4.33% | 4.03% | 4.95% | 4.87% |
Frequently Asked Questions
FHYSX and MDHVX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FHYSX has higher volatility (0.53%) compared to MDHVX (0.46%). In terms of maximum drawdown, FHYSX dropped -21.45% vs MDHVX's -18.04%.
MDHVX currently has the higher Sharpe Ratio (2.07 vs 1.52), 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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