FIHBX vs. QAMNX
Compare and contrast key facts about Federated Hermes Institutional High Yield Bond Fund (FIHBX) and Federated Hermes MDT Market Neutral A (QAMNX).
FIHBX is managed by Federated. It was launched on Nov 1, 2002. QAMNX is managed by Federated. It was launched on Sep 30, 2008.
Performance
FIHBX vs. QAMNX - Performance Comparison
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FIHBX vs. QAMNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FIHBX Federated Hermes Institutional High Yield Bond Fund | -1.32% | 8.59% | 6.40% | 13.17% | -12.64% | 0.51% |
QAMNX Federated Hermes MDT Market Neutral A | 1.36% | 10.00% | 17.33% | 4.71% | 9.19% | 12.29% |
Returns By Period
In the year-to-date period, FIHBX achieves a -1.32% return, which is significantly lower than QAMNX's 1.36% return.
FIHBX
- 1D
- 0.57%
- 1M
- -1.45%
- YTD
- -1.32%
- 6M
- 0.31%
- 1Y
- 6.07%
- 3Y*
- 7.62%
- 5Y*
- 3.19%
- 10Y*
- 5.15%
QAMNX
- 1D
- -0.05%
- 1M
- -0.05%
- YTD
- 1.36%
- 6M
- 5.54%
- 1Y
- 7.82%
- 3Y*
- 10.36%
- 5Y*
- —
- 10Y*
- —
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FIHBX vs. QAMNX - Expense Ratio Comparison
FIHBX has a 0.50% expense ratio, which is lower than QAMNX's 1.86% expense ratio.
Return for Risk
FIHBX vs. QAMNX — Risk / Return Rank
FIHBX
QAMNX
FIHBX vs. QAMNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Institutional High Yield Bond Fund (FIHBX) and Federated Hermes MDT Market Neutral A (QAMNX). 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 | QAMNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.60 | 1.23 | +0.37 |
Sortino ratioReturn per unit of downside risk | 2.30 | 1.90 | +0.40 |
Omega ratioGain probability vs. loss probability | 1.44 | 1.27 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 2.50 | 1.97 | +0.52 |
Martin ratioReturn relative to average drawdown | 10.29 | 5.71 | +4.58 |
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 | QAMNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.60 | 1.23 | +0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.90 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.35 | 0.87 | +0.48 |
Correlation
The correlation between FIHBX and QAMNX is 0.02, 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. QAMNX - Dividend Comparison
FIHBX's dividend yield for the trailing twelve months is around 6.00%, more than QAMNX's 1.51% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIHBX Federated Hermes Institutional High Yield Bond Fund | 6.00% | 6.29% | 5.94% | 5.93% | 4.58% | 4.25% | 5.14% | 5.79% | 6.24% | 5.55% | 5.75% | 6.46% |
QAMNX Federated Hermes MDT Market Neutral A | 1.51% | 1.53% | 1.85% | 5.89% | 11.74% | 20.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FIHBX vs. QAMNX - Drawdown Comparison
The maximum FIHBX drawdown since its inception was -31.05%, which is greater than QAMNX's maximum drawdown of -17.97%. Use the drawdown chart below to compare losses from any high point for FIHBX and QAMNX.
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Drawdown Indicators
| FIHBX | QAMNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.05% | -17.97% | -13.08% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -4.16% | +1.67% |
Max Drawdown (5Y)Largest decline over 5 years | -16.35% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -21.67% | — | — |
Current DrawdownCurrent decline from peak | -1.78% | -0.42% | -1.36% |
Average DrawdownAverage peak-to-trough decline | -2.31% | -5.25% | +2.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | 1.44% | -0.84% |
Volatility
FIHBX vs. QAMNX - Volatility Comparison
Federated Hermes Institutional High Yield Bond Fund (FIHBX) has a higher volatility of 1.50% compared to Federated Hermes MDT Market Neutral A (QAMNX) at 1.03%. This indicates that FIHBX's price experiences larger fluctuations and is considered to be riskier than QAMNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIHBX | QAMNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.50% | 1.03% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 2.56% | 4.88% | -2.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.80% | 6.38% | -2.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.15% | 14.04% | -8.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.76% | 14.04% | -8.28% |