FHYTX vs. BRHYX
FHYTX (Federated Hermes Opportunistic High Yield Bond Fund) and BRHYX (BlackRock High Yield K) are both High Yield Bonds funds. Over the past 10 years, FHYTX returned 6.00%/yr vs 5.74%/yr for BRHYX. A 0.77 correlation means they provide meaningful diversification when combined. FHYTX charges 0.98%/yr vs 0.48%/yr for BRHYX.
Performance
FHYTX vs. BRHYX - Performance Comparison
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Returns By Period
In the year-to-date period, FHYTX achieves a 1.79% return, which is significantly lower than BRHYX's 2.07% return. Both investments have delivered pretty close results over the past 10 years, with FHYTX having a 6.00% annualized return and BRHYX not far behind at 5.74%.
FHYTX
- 1D
- 0.00%
- 1M
- 0.44%
- 6M
- 1.63%
- YTD
- 1.79%
- 1Y
- 5.21%
- 3Y*
- 8.15%
- 5Y*
- 3.01%
- 10Y*
- 6.00%
BRHYX
- 1D
- 0.00%
- 1M
- 0.41%
- 6M
- 1.93%
- YTD
- 2.07%
- 1Y
- 6.78%
- 3Y*
- 9.44%
- 5Y*
- 4.31%
- 10Y*
- 5.74%
FHYTX vs. BRHYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FHYTX Federated Hermes Opportunistic High Yield Bond Fund | 1.79% | 8.40% | 6.24% | 13.22% | -13.45% | 7.37% | 6.72% | 15.34% | -4.66% | 7.46% |
BRHYX BlackRock High Yield K | 2.07% | 9.44% | 8.65% | 13.26% | -11.18% | 5.47% | 5.98% | 15.65% | -2.67% | 8.34% |
Correlation
The correlation between FHYTX and BRHYX is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 1998 | 0.77 |
Over the past year, the correlation between FHYTX and BRHYX has dropped to 0.56 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.
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Return for Risk
FHYTX vs. BRHYX — Risk / Return Rank
FHYTX
BRHYX
FHYTX vs. BRHYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Opportunistic High Yield Bond Fund (FHYTX) and BlackRock High Yield K (BRHYX). 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.
| FHYTX | BRHYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.42 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 2.71 | -0.76 |
| Martin ratioReturn relative to average drawdown | 9.17 | 13.56 | -4.40 |
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Drawdowns
FHYTX vs. BRHYX - Drawdown Comparison
The maximum FHYTX drawdown since its inception was -34.98%, roughly equal to the maximum BRHYX drawdown of -34.77%. Use the drawdown chart below to compare losses from any high point for FHYTX and BRHYX.
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Drawdown Indicators
| FHYTX | BRHYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.98% | -34.77% | -0.21% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -2.40% | -0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -4.12% | -4.07% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -17.04% | -15.29% | -1.75% |
Max Drawdown (10Y)Largest decline over 10 years | -24.18% | -23.20% | -0.98% |
Current DrawdownCurrent decline from peak | -0.15% | -0.14% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -4.51% | -2.72% | -1.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 0.48% | +0.11% |
Volatility
FHYTX vs. BRHYX - Volatility Comparison
The current volatility for Federated Hermes Opportunistic High Yield Bond Fund (FHYTX) is 0.79%, while BlackRock High Yield K (BRHYX) has a volatility of 0.98%. This indicates that FHYTX experiences smaller price fluctuations and is considered to be less risky than BRHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHYTX | BRHYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 0.98% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 2.76% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.63% | 3.49% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.67% | 5.28% | +0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.22% | 5.88% | +1.34% |
FHYTX vs. BRHYX - Expense Ratio Comparison
FHYTX has a 0.98% expense ratio, which is higher than BRHYX's 0.48% expense ratio.
Dividends
FHYTX vs. BRHYX - Dividend Comparison
FHYTX's dividend yield for the trailing twelve months is around 5.22%, less than BRHYX's 7.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRHYX BlackRock High Yield K | 7.16% | 7.14% | 7.56% | 6.20% | 4.98% | 4.80% | 5.22% | 5.82% | 6.48% | 5.92% | 6.03% | 6.42% |
FHYTX Federated Hermes Opportunistic High Yield Bond Fund | 5.22% | 5.19% | 4.91% | 5.42% | 4.40% | 3.95% | 4.67% | 5.01% | 6.71% | 4.68% | 14.56% | 5.28% |
Frequently Asked Questions
FHYTX and BRHYX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRHYX has higher volatility (0.98%) compared to FHYTX (0.79%). In terms of maximum drawdown, FHYTX dropped -34.98% vs BRHYX's -34.77%.
BRHYX currently has the higher Sharpe Ratio (1.87 vs 1.49), 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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