FHYSX vs. QIACX

Last updated Jun 3, 2026

FHYSX (Federated Hermes High-Yield Strategy Portfolio) and QIACX (Federated Hermes MDT All Cap Core Fund) are both mutual funds - FHYSX is a High Yield Bonds fund managed by Federated, while QIACX is a Large Cap Blend Equities fund managed by Federated. Over the past 10 years, FHYSX returned 5.32%/yr vs 17.01%/yr for QIACX. At a 0.41 correlation, their price movements are largely independent. FHYSX charges 0.02%/yr vs 0.75%/yr for QIACX.

Performance

FHYSX vs. QIACX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes High-Yield Strategy Portfolio (FHYSX) and Federated Hermes MDT All Cap Core Fund (QIACX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHYSX achieves a 1.36% return, which is significantly lower than QIACX's 8.03% return. Over the past 10 years, FHYSX has underperformed QIACX with an annualized return of 5.32%, while QIACX has yielded a comparatively higher 17.01% annualized return.

FHYSX

• 1D: 0.00%
• 1M: 0.36%
• YTD: 1.36%
• 6M: 2.40%
• 1Y: 7.21%
• 3Y*: 8.54%
• 5Y*: 3.48%
• 10Y*: 5.32%

QIACX

• 1D: 0.60%
• 1M: 3.49%
• YTD: 8.03%
• 6M: 10.30%
• 1Y: 24.59%
• 3Y*: 25.32%
• 5Y*: 15.98%
• 10Y*: 17.01%

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

FHYSX vs. QIACX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FHYSX Federated Hermes High-Yield Strategy Portfolio	1.36%	9.14%	6.42%	12.77%	-13.16%	4.49%	6.08%	15.14%	-2.16%	8.34%
QIACX Federated Hermes MDT All Cap Core Fund	8.03%	21.15%	31.07%	23.52%	-14.16%	31.40%	21.95%	26.91%	-2.64%	21.07%

Correlation

The correlation between FHYSX and QIACX is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jul 2, 2009	0.41

The correlation between FHYSX and QIACX shifts across timeframes, from 0.41 (all time) to 0.51 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FHYSX vs. QIACX — Risk / Return Rank

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

FHYSX

FHYSX Risk / Return Rank: 74
FHYSX Sharpe Ratio Rank: 52
FHYSX Sortino Ratio Rank: 79
FHYSX Omega Ratio Rank: 81
FHYSX Calmar Ratio Rank: 70
FHYSX Martin Ratio Rank: 87

QIACX

QIACX Risk / Return Rank: 60
QIACX Sharpe Ratio Rank: 51
QIACX Sortino Ratio Rank: 54
QIACX Omega Ratio Rank: 65
QIACX Calmar Ratio Rank: 57
QIACX Martin Ratio Rank: 71

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.

FHYSX vs. QIACX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes High-Yield Strategy Portfolio (FHYSX) and Federated Hermes MDT All Cap Core Fund (QIACX). 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.

	FHYSX	QIACX	Difference
Sharpe ratio Return per unit of total volatility	2.13	2.13	0.00
Sortino ratio Return per unit of downside risk	3.75	3.09	+0.66
Omega ratio Gain probability vs. loss probability	1.54	1.45	+0.09
Calmar ratio Return relative to maximum drawdown	3.25	2.92	+0.33
Martin ratio Return relative to average drawdown	16.96	13.70	+3.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FHYSX vs. QIACX - Sharpe Ratio Comparison

The current FHYSX Sharpe Ratio is 2.13, which is comparable to the QIACX Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of FHYSX and QIACX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FHYSX	QIACX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	2.13	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.92	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.93	0.91	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.58	+0.31

Drawdowns

FHYSX vs. QIACX - Drawdown Comparison

The maximum FHYSX drawdown since its inception was -21.45%, smaller than the maximum QIACX drawdown of -60.11%. Use the drawdown chart below to compare losses from any high point for FHYSX and QIACX.

Drawdown Indicators

	FHYSX	QIACX	Difference
Max Drawdown Largest peak-to-trough decline	-21.45%	-60.11%	+38.66%
Max Drawdown (1Y) Largest decline over 1 year	-2.44%	-8.65%	+6.21%
Max Drawdown (3Y) Largest decline over 3 years	-3.64%	-19.41%	+15.77%
Max Drawdown (5Y) Largest decline over 5 years	-16.93%	-23.05%	+6.12%
Max Drawdown (10Y) Largest decline over 10 years	-21.45%	-36.47%	+15.02%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.59%	-9.30%	+6.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.47%	1.84%	-1.37%

Volatility

FHYSX vs. QIACX - Volatility Comparison

The current volatility for Federated Hermes High-Yield Strategy Portfolio (FHYSX) is 0.98%, while Federated Hermes MDT All Cap Core Fund (QIACX) has a volatility of 2.56%. This indicates that FHYSX experiences smaller price fluctuations and is considered to be less risky than QIACX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHYSX	QIACX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.98%	2.56%	-1.58%
Volatility (6M) Calculated over the trailing 6-month period	2.76%	9.51%	-6.75%
Volatility (1Y) Calculated over the trailing 1-year period	3.41%	12.01%	-8.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.24%	17.38%	-12.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.77%	18.70%	-12.93%

FHYSX vs. QIACX - Expense Ratio Comparison

FHYSX has a 0.02% expense ratio, which is lower than QIACX's 0.75% expense ratio.

Dividends

FHYSX vs. QIACX - Dividend Comparison

FHYSX's dividend yield for the trailing twelve months is around 6.29%, more than QIACX's 4.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHYSX Federated Hermes High-Yield Strategy Portfolio	6.29%	6.28%	5.84%	5.30%	5.27%	4.54%	5.74%	6.18%	6.61%	6.98%	6.45%	8.45%
QIACX Federated Hermes MDT All Cap Core Fund	4.24%	4.58%	8.65%	1.40%	10.90%	17.44%	3.01%	3.34%	8.60%	0.69%	1.12%	1.25%

Frequently Asked Questions

Can I hold both FHYSX and QIACX in my portfolio?

FHYSX and QIACX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHYSX or QIACX?

QIACX has higher volatility (2.56%) compared to FHYSX (0.98%). In terms of maximum drawdown, FHYSX dropped -21.45% vs QIACX's -60.11%.

Which has better risk-adjusted returns?

FHYSX currently has the higher Sharpe Ratio (2.13 vs 2.13), 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.