FHYTX vs. PTCIX

Last updated Aug 1, 2026

FHYTX (Federated Hermes Opportunistic High Yield Bond Fund) and PTCIX (PIMCO Long-Term Credit Bond Fund) are both mutual funds - FHYTX is a High Yield Bonds fund managed by Federated, while PTCIX is a Long-Term Bond fund managed by PIMCO. Over the past 10 years, FHYTX returned 5.97%/yr vs 1.89%/yr for PTCIX. Their 0.17 correlation means their historical movements had little consistent relationship. FHYTX charges 0.98%/yr vs 0.55%/yr for PTCIX.

Performance

FHYTX vs. PTCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Opportunistic High Yield Bond Fund (FHYTX) and PIMCO Long-Term Credit Bond Fund (PTCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHYTX achieves a 1.32% return, which is significantly higher than PTCIX's -2.15% return. Over the past 10 years, FHYTX has outperformed PTCIX with an annualized return of 5.97%, while PTCIX has yielded a comparatively lower 1.89% annualized return.

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%

PTCIX

• 1D: 0.24%
• 1M: -3.31%
• 6M: -2.51%
• YTD: -2.15%
• 1Y: 1.12%
• 3Y*: 3.48%
• 5Y*: -3.50%
• 10Y*: 1.89%
• ALL TIME*: 5.34%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FHYTX Federated Hermes Opportunistic High Yield Bond Fund	$0.00	$0.00	$0.00
PTCIX PIMCO Long-Term Credit Bond Fund	$0.00	$0.00	$0.00

FHYTX vs. PTCIX - 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%
PTCIX PIMCO Long-Term Credit Bond Fund	-2.15%	8.56%	-0.06%	9.20%	-27.04%	-1.00%	13.28%	24.99%	-5.92%	13.56%

Correlation

The correlation between FHYTX and PTCIX is 0.41, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.41
Correlation (3Y) Balances recent behavior with more history.	0.46
Correlation (5Y) Shows whether the relationship held over a longer period.	0.45
Correlation (10Y) Provides a long-term view across more market conditions.	0.30
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010	0.17

Over the past year, FHYTX and PTCIX have become more correlated (0.41) than their long-term average of 0.17, meaning their price movements have been converging.

Return for Risk

FHYTX vs. PTCIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FHYTX

FHYTX Risk / Return Rank: 59
FHYTX Sharpe Ratio Rank: 52
FHYTX Sortino Ratio Rank: 61
FHYTX Omega Ratio Rank: 70
FHYTX Calmar Ratio Rank: 47
FHYTX Martin Ratio Rank: 66

PTCIX

PTCIX Risk / Return Rank: 9
PTCIX Sharpe Ratio Rank: 9
PTCIX Sortino Ratio Rank: 9
PTCIX Omega Ratio Rank: 8
PTCIX Calmar Ratio Rank: 10
PTCIX Martin Ratio Rank: 9

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FHYTX vs. PTCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Opportunistic High Yield Bond Fund (FHYTX) and PIMCO Long-Term Credit Bond Fund (PTCIX). 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	PTCIX	Difference
Sharpe ratio: Return per unit of total volatility	1.35	0.34	+1.01
Sortino ratio: Return per unit of downside risk	2.10	0.53	+1.57
Omega ratio: Gain probability vs. loss probability	1.30	1.06	+0.24
Calmar ratio: Return relative to maximum drawdown	1.77	0.45	+1.32
Martin ratio: Return relative to average drawdown	8.19	1.16	+7.03

FHYTX vs. PTCIX - Sharpe Ratio Comparison

The current FHYTX Sharpe Ratio is 1.35, which is higher than the PTCIX Sharpe Ratio of 0.34. The chart below compares the historical Sharpe Ratios of FHYTX and PTCIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FHYTX vs. PTCIX - Drawdown Comparison

The maximum FHYTX drawdown since its inception was -34.98%, roughly equal to the maximum PTCIX drawdown of -35.64%. Use the drawdown chart below to compare losses from any high point for FHYTX and PTCIX.

Drawdown Indicators

	FHYTX	PTCIX	Difference
Max Drawdown Largest peak-to-trough decline	-34.98%	-35.64%	+0.66%
Max Drawdown (1Y) Largest decline over 1 year	-2.76%	-5.95%	+3.19%
Max Drawdown (3Y) Largest decline over 3 years	-4.12%	-10.71%	+6.59%
Max Drawdown (5Y) Largest decline over 5 years	-17.04%	-35.64%	+18.60%
Max Drawdown (10Y) Largest decline over 10 years	-24.18%	-35.64%	+11.46%
Current Drawdown Current decline from peak	-0.62%	-17.25%	+16.63%
Average Drawdown Average peak-to-trough decline	-4.51%	-8.29%	+3.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.60%	2.31%	-1.71%

Volatility

FHYTX vs. PTCIX - Volatility Comparison

The current volatility for Federated Hermes Opportunistic High Yield Bond Fund (FHYTX) is 0.72%, while PIMCO Long-Term Credit Bond Fund (PTCIX) has a volatility of 2.05%. This indicates that FHYTX experiences smaller price fluctuations and is considered to be less risky than PTCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHYTX	PTCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.72%	2.05%	-1.33%
Volatility (6M) Calculated over the trailing 6-month period	2.86%	6.29%	-3.43%
Volatility (1Y) Calculated over the trailing 1-year period	3.64%	7.87%	-4.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.66%	11.52%	-5.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.22%	10.47%	-3.25%

FHYTX vs. PTCIX - Expense Ratio Comparison

FHYTX has a 0.98% expense ratio, which is higher than PTCIX's 0.55% expense ratio.

Dividends

FHYTX vs. PTCIX - Dividend Comparison

FHYTX's dividend yield for the trailing twelve months is around 4.79%, less than PTCIX's 5.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
PTCIX PIMCO Long-Term Credit Bond Fund	5.54%	5.67%	5.23%	3.83%	4.86%	7.39%	7.72%	5.14%	6.51%	4.81%	5.75%	14.97%

Frequently Asked Questions

Can I hold both FHYTX and PTCIX in my portfolio?

FHYTX and PTCIX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHYTX or PTCIX?

PTCIX has higher volatility (2.05%) compared to FHYTX (0.72%). In terms of maximum drawdown, FHYTX dropped -34.98% vs PTCIX's -35.64%.

Which has better risk-adjusted returns?

FHYTX currently has the higher Sharpe Ratio (1.35 vs 0.34), 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.