Correlation
The correlation between FIHBX and MNHYX is 0.37, 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.
FIHBX vs. MNHYX
Compare and contrast key facts about Federated Hermes Institutional High Yield Bond Fund (FIHBX) and Manning & Napier High Yield Bond Series (MNHYX).
FIHBX is managed by Federated. It was launched on Nov 1, 2002. MNHYX is managed by Manning & Napier. It was launched on Sep 14, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FIHBX or MNHYX.
Performance
FIHBX vs. MNHYX - Performance Comparison
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Key characteristics
FIHBX:
2.54
MNHYX:
1.96
FIHBX:
3.48
MNHYX:
2.52
FIHBX:
1.54
MNHYX:
1.43
FIHBX:
2.66
MNHYX:
1.59
FIHBX:
11.24
MNHYX:
6.22
FIHBX:
0.74%
MNHYX:
1.13%
FIHBX:
3.55%
MNHYX:
3.67%
FIHBX:
-31.05%
MNHYX:
-19.69%
FIHBX:
-0.00%
MNHYX:
-1.24%
Returns By Period
In the year-to-date period, FIHBX achieves a 2.60% return, which is significantly higher than MNHYX's 0.88% return. Over the past 10 years, FIHBX has underperformed MNHYX with an annualized return of 4.66%, while MNHYX has yielded a comparatively higher 5.72% annualized return.
FIHBX
2.60%
0.90%
2.67%
8.28%
5.81%
4.86%
4.66%
MNHYX
0.88%
1.04%
0.58%
7.03%
6.79%
8.19%
5.72%
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FIHBX vs. MNHYX - Expense Ratio Comparison
FIHBX has a 0.50% expense ratio, which is lower than MNHYX's 0.90% expense ratio.
Risk-Adjusted Performance
FIHBX vs. MNHYX — Risk-Adjusted Performance Rank
FIHBX
MNHYX
FIHBX vs. MNHYX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Institutional High Yield Bond Fund (FIHBX) and Manning & Napier High Yield Bond Series (MNHYX). 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.
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Dividends
FIHBX vs. MNHYX - Dividend Comparison
FIHBX's dividend yield for the trailing twelve months is around 5.43%, less than MNHYX's 7.25% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIHBX Federated Hermes Institutional High Yield Bond Fund | 5.43% | 5.94% | 5.92% | 6.04% | 5.10% | 5.14% | 5.80% | 6.24% | 5.56% | 5.76% | 6.45% | 6.57% |
MNHYX Manning & Napier High Yield Bond Series | 7.25% | 6.40% | 6.67% | 5.93% | 7.93% | 5.00% | 6.64% | 5.26% | 5.17% | 6.50% | 5.61% | 8.14% |
Drawdowns
FIHBX vs. MNHYX - Drawdown Comparison
The maximum FIHBX drawdown since its inception was -31.05%, which is greater than MNHYX's maximum drawdown of -19.69%. Use the drawdown chart below to compare losses from any high point for FIHBX and MNHYX.
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Volatility
FIHBX vs. MNHYX - Volatility Comparison
The current volatility for Federated Hermes Institutional High Yield Bond Fund (FIHBX) is 0.89%, while Manning & Napier High Yield Bond Series (MNHYX) has a volatility of 1.24%. This indicates that FIHBX experiences smaller price fluctuations and is considered to be less risky than MNHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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