FHYTX vs. FALN
FHYTX (Federated Hermes Opportunistic High Yield Bond Fund) and FALN (iShares Fallen Angels USD Bond ETF) are both High Yield Bonds funds. Over the past 10 years, FHYTX returned 5.97%/yr vs 6.24%/yr for FALN. Their 0.58 correlation means they have sometimes moved together and sometimes differently. FHYTX charges 0.98%/yr vs 0.25%/yr for FALN.
Performance
FHYTX vs. FALN - Performance Comparison
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Returns By Period
In the year-to-date period, FHYTX achieves a 1.32% return, which is significantly lower than FALN's 1.86% return. Both investments have delivered pretty close results over the past 10 years, with FHYTX having a 5.97% annualized return and FALN not far ahead at 6.24%.
FHYTX
- 1D
- 0.31%
- 1M
- -0.46%
- 6M
- 1.19%
- YTD
- 1.32%
- 1Y
- 4.57%
- 3Y*
- 7.28%
- 5Y*
- 2.99%
- 10Y*
- 5.97%
- ALL TIME*
- 6.13%
FALN
- 1D
- -0.11%
- 1M
- -0.92%
- 6M
- 0.86%
- YTD
- 1.86%
- 1Y
- 6.24%
- 3Y*
- 8.53%
- 5Y*
- 3.39%
- 10Y*
- 6.24%
- ALL TIME*
- 6.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $23.72M | $18.39M | $26.66M | |
| $0.00 | $0.00 | $0.00 |
FHYTX vs. FALN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FHYTX Federated Hermes Opportunistic High Yield Bond Fund | 1.32% | 8.40% | 6.24% | 13.22% | -13.45% | 7.37% | 6.72% | 15.34% | -4.66% | 7.46% |
FALN iShares Fallen Angels USD Bond ETF | 1.86% | 8.92% | 7.68% | 13.47% | -13.79% | 5.40% | 14.85% | 17.42% | -4.97% | 8.70% |
Correlation
The correlation between FHYTX and FALN 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. | 0.48 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.58 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2016 | 0.58 |
Over the past year, the correlation between FHYTX and FALN has dropped to 0.36 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.
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Return for Risk
FHYTX vs. FALN — Risk / Return Rank
FHYTX
FALN
FHYTX vs. FALN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Opportunistic High Yield Bond Fund (FHYTX) and iShares Fallen Angels USD Bond ETF (FALN). 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 | FALN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.26 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.77 | 1.57 | +0.20 |
| Martin ratioReturn relative to average drawdown | 8.19 | 6.42 | +1.78 |
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Drawdowns
FHYTX vs. FALN - Drawdown Comparison
The maximum FHYTX drawdown since its inception was -34.98%, which is greater than FALN's maximum drawdown of -29.22%. Use the drawdown chart below to compare losses from any high point for FHYTX and FALN.
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Drawdown Indicators
| FHYTX | FALN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.98% | -29.22% | -5.76% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -3.96% | +1.20% |
Max Drawdown (3Y)Largest decline over 3 years | -4.12% | -5.92% | +1.80% |
Max Drawdown (5Y)Largest decline over 5 years | -17.04% | -18.78% | +1.74% |
Max Drawdown (10Y)Largest decline over 10 years | -24.18% | -29.22% | +5.04% |
Current DrawdownCurrent decline from peak | -0.62% | -1.07% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -4.51% | -3.28% | -1.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | 0.97% | -0.37% |
Volatility
FHYTX vs. FALN - Volatility Comparison
The current volatility for Federated Hermes Opportunistic High Yield Bond Fund (FHYTX) is 0.72%, while iShares Fallen Angels USD Bond ETF (FALN) has a volatility of 0.99%. This indicates that FHYTX experiences smaller price fluctuations and is considered to be less risky than FALN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHYTX | FALN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 0.99% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 2.86% | 3.79% | -0.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.64% | 4.59% | -0.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.66% | 7.33% | -1.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.22% | 8.86% | -1.64% |
FHYTX vs. FALN - Expense Ratio Comparison
FHYTX has a 0.98% expense ratio, which is higher than FALN's 0.25% expense ratio.
Dividends
FHYTX vs. FALN - Dividend Comparison
FHYTX's dividend yield for the trailing twelve months is around 4.79%, less than FALN's 6.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FALN iShares Fallen Angels USD Bond ETF | 5.98% | 6.31% | 6.24% | 5.37% | 5.08% | 3.40% | 5.14% | 5.35% | 5.97% | 6.98% | 3.55% | 0.00% |
FHYTX Federated Hermes Opportunistic High Yield Bond Fund | 4.79% | 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 FALN 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.
FALN has higher volatility (0.99%) compared to FHYTX (0.72%). In terms of maximum drawdown, FHYTX dropped -34.98% vs FALN's -29.22%.
FALN currently has the higher Sharpe Ratio (1.36 vs 1.35), 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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