FIHBX vs. PFORX
Compare and contrast key facts about Federated Hermes Institutional High Yield Bond Fund (FIHBX) and PIMCO International Bond Fund (U.S. Dollar-Hedged) (PFORX).
FIHBX is managed by Federated. It was launched on Nov 1, 2002. PFORX is managed by PIMCO. It was launched on Dec 1, 1992.
Performance
FIHBX vs. PFORX - Performance Comparison
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FIHBX vs. PFORX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIHBX Federated Hermes Institutional High Yield Bond Fund | -1.88% | 8.59% | 6.40% | 13.17% | -12.64% | 3.92% | 5.99% | 15.01% | -2.80% | 7.19% |
PFORX PIMCO International Bond Fund (U.S. Dollar-Hedged) | -2.23% | 4.33% | 5.70% | 9.52% | -10.33% | -1.67% | 6.17% | 7.64% | 2.64% | 3.52% |
Returns By Period
In the year-to-date period, FIHBX achieves a -1.88% return, which is significantly higher than PFORX's -2.23% return. Over the past 10 years, FIHBX has outperformed PFORX with an annualized return of 5.09%, while PFORX has yielded a comparatively lower 2.77% annualized return.
FIHBX
- 1D
- 0.11%
- 1M
- -2.34%
- YTD
- -1.88%
- 6M
- -0.37%
- 1Y
- 5.47%
- 3Y*
- 7.42%
- 5Y*
- 3.11%
- 10Y*
- 5.09%
PFORX
- 1D
- 0.31%
- 1M
- -3.69%
- YTD
- -2.23%
- 6M
- -1.20%
- 1Y
- 1.73%
- 3Y*
- 4.71%
- 5Y*
- 1.08%
- 10Y*
- 2.77%
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FIHBX vs. PFORX - Expense Ratio Comparison
Both FIHBX and PFORX have an expense ratio of 0.50%.
Return for Risk
FIHBX vs. PFORX — Risk / Return Rank
FIHBX
PFORX
FIHBX vs. PFORX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Institutional High Yield Bond Fund (FIHBX) and PIMCO International Bond Fund (U.S. Dollar-Hedged) (PFORX). 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.
| FIHBX | PFORX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.50 | 0.64 | +0.86 |
Sortino ratioReturn per unit of downside risk | 2.14 | 0.89 | +1.25 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.12 | +0.29 |
Calmar ratioReturn relative to maximum drawdown | 2.21 | 0.61 | +1.60 |
Martin ratioReturn relative to average drawdown | 9.25 | 2.82 | +6.44 |
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
| FIHBX | PFORX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.50 | 0.64 | +0.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.61 | 0.31 | +0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | 0.90 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.34 | 1.25 | +0.09 |
Correlation
The correlation between FIHBX and PFORX is 0.18, 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
FIHBX vs. PFORX - Dividend Comparison
FIHBX's dividend yield for the trailing twelve months is around 6.03%, more than PFORX's 3.88% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIHBX Federated Hermes Institutional High Yield Bond Fund | 6.03% | 6.29% | 5.94% | 5.93% | 4.58% | 4.25% | 5.14% | 5.79% | 6.24% | 5.55% | 5.75% | 6.46% |
PFORX PIMCO International Bond Fund (U.S. Dollar-Hedged) | 3.88% | 4.23% | 4.91% | 3.02% | 3.65% | 1.55% | 2.46% | 6.86% | 2.90% | 1.46% | 1.38% | 9.12% |
Drawdowns
FIHBX vs. PFORX - Drawdown Comparison
The maximum FIHBX drawdown since its inception was -31.05%, which is greater than PFORX's maximum drawdown of -13.87%. Use the drawdown chart below to compare losses from any high point for FIHBX and PFORX.
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Drawdown Indicators
| FIHBX | PFORX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.05% | -13.87% | -17.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -3.99% | +1.50% |
Max Drawdown (5Y)Largest decline over 5 years | -16.35% | -13.71% | -2.64% |
Max Drawdown (10Y)Largest decline over 10 years | -21.67% | -13.87% | -7.80% |
Current DrawdownCurrent decline from peak | -2.34% | -3.69% | +1.35% |
Average DrawdownAverage peak-to-trough decline | -2.31% | -1.95% | -0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 0.87% | -0.28% |
Volatility
FIHBX vs. PFORX - Volatility Comparison
The current volatility for Federated Hermes Institutional High Yield Bond Fund (FIHBX) is 1.36%, while PIMCO International Bond Fund (U.S. Dollar-Hedged) (PFORX) has a volatility of 1.93%. This indicates that FIHBX experiences smaller price fluctuations and is considered to be less risky than PFORX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIHBX | PFORX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 1.93% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 2.50% | 2.53% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.77% | 3.38% | +0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.15% | 3.46% | +1.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.76% | 3.08% | +2.68% |