FHYSX vs. SPHY
Compare and contrast key facts about Federated Hermes High-Yield Strategy Portfolio (FHYSX) and SPDR Portfolio High Yield Bond ETF (SPHY).
FHYSX is managed by Federated. It was launched on Dec 24, 2008. SPHY is a passively managed fund by State Street that tracks the performance of the ICE BofAML US High Yield Index. It was launched on Jun 18, 2012.
Performance
FHYSX vs. SPHY - Performance Comparison
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FHYSX vs. SPHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FHYSX Federated Hermes High-Yield Strategy Portfolio | -1.26% | 9.14% | 6.42% | 12.77% | -13.16% | 4.49% | 6.08% | 15.14% | -2.16% | 8.34% |
SPHY SPDR Portfolio High Yield Bond ETF | -0.07% | 8.59% | 8.54% | 12.81% | -10.57% | 5.61% | 6.65% | 13.16% | -3.35% | 7.35% |
Returns By Period
In the year-to-date period, FHYSX achieves a -1.26% return, which is significantly lower than SPHY's -0.07% return. Both investments have delivered pretty close results over the past 10 years, with FHYSX having a 5.44% annualized return and SPHY not far behind at 5.32%.
FHYSX
- 1D
- 0.52%
- 1M
- -1.60%
- YTD
- -1.26%
- 6M
- 0.52%
- 1Y
- 6.43%
- 3Y*
- 7.67%
- 5Y*
- 3.19%
- 10Y*
- 5.44%
SPHY
- 1D
- 0.25%
- 1M
- -0.69%
- YTD
- -0.07%
- 6M
- 1.01%
- 1Y
- 7.16%
- 3Y*
- 8.49%
- 5Y*
- 4.36%
- 10Y*
- 5.32%
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FHYSX vs. SPHY - Expense Ratio Comparison
FHYSX has a 0.02% expense ratio, which is lower than SPHY's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
FHYSX vs. SPHY — Risk / Return Rank
FHYSX
SPHY
FHYSX vs. SPHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes High-Yield Strategy Portfolio (FHYSX) and SPDR Portfolio High Yield Bond ETF (SPHY). 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 | SPHY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.71 | 1.31 | +0.40 |
Sortino ratioReturn per unit of downside risk | 2.43 | 1.94 | +0.49 |
Omega ratioGain probability vs. loss probability | 1.46 | 1.31 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 2.73 | 1.81 | +0.91 |
Martin ratioReturn relative to average drawdown | 11.03 | 9.48 | +1.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FHYSX | SPHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.71 | 1.31 | +0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | 0.61 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.95 | 0.67 | +0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.63 | +0.23 |
Correlation
The correlation between FHYSX and SPHY is 0.38, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FHYSX vs. SPHY - Dividend Comparison
FHYSX's dividend yield for the trailing twelve months is around 5.79%, less than SPHY's 7.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHYSX Federated Hermes High-Yield Strategy Portfolio | 5.79% | 6.28% | 5.84% | 5.30% | 5.27% | 4.54% | 5.74% | 6.18% | 6.61% | 6.98% | 6.45% | 8.45% |
SPHY SPDR Portfolio High Yield Bond ETF | 7.37% | 7.38% | 7.80% | 7.30% | 6.47% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.27% | 4.29% |
Drawdowns
FHYSX vs. SPHY - Drawdown Comparison
The maximum FHYSX drawdown since its inception was -21.45%, roughly equal to the maximum SPHY drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for FHYSX and SPHY.
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Drawdown Indicators
| FHYSX | SPHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.45% | -21.97% | +0.52% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -4.07% | +1.57% |
Max Drawdown (5Y)Largest decline over 5 years | -16.93% | -15.29% | -1.64% |
Max Drawdown (10Y)Largest decline over 10 years | -21.45% | -21.97% | +0.52% |
Current DrawdownCurrent decline from peak | -1.77% | -1.06% | -0.71% |
Average DrawdownAverage peak-to-trough decline | -2.61% | -2.32% | -0.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 0.78% | -0.16% |
Volatility
FHYSX vs. SPHY - Volatility Comparison
The current volatility for Federated Hermes High-Yield Strategy Portfolio (FHYSX) is 1.38%, while SPDR Portfolio High Yield Bond ETF (SPHY) has a volatility of 2.23%. This indicates that FHYSX experiences smaller price fluctuations and is considered to be less risky than SPHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHYSX | SPHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 2.23% | -0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 2.43% | 2.88% | -0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.79% | 5.50% | -1.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.20% | 7.16% | -1.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.77% | 7.97% | -2.20% |