FIIFX vs. FCBFX

Last updated Jun 3, 2026

FIIFX (Federated Hermes Intermediate Corporate Bond Fund) and FCBFX (Fidelity Corporate Bond Fund) are both Corporate Bonds funds. Over the past 10 years, FIIFX returned 2.46%/yr vs 2.77%/yr for FCBFX. Their correlation of 0.85 suggests significant overlap in exposure. FIIFX charges 0.58%/yr vs 0.44%/yr for FCBFX.

Performance

FIIFX vs. FCBFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Intermediate Corporate Bond Fund (FIIFX) and Fidelity Corporate Bond Fund (FCBFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIIFX achieves a 0.18% return, which is significantly lower than FCBFX's 0.65% return. Over the past 10 years, FIIFX has underperformed FCBFX with an annualized return of 2.46%, while FCBFX has yielded a comparatively higher 2.77% annualized return.

FIIFX

• 1D: -0.12%
• 1M: 0.24%
• YTD: 0.18%
• 6M: 0.76%
• 1Y: 4.93%
• 3Y*: 4.81%
• 5Y*: 1.03%
• 10Y*: 2.46%

FCBFX

• 1D: 0.09%
• 1M: 0.94%
• YTD: 0.65%
• 6M: 0.57%
• 1Y: 6.30%
• 3Y*: 5.69%
• 5Y*: 0.52%
• 10Y*: 2.77%

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

FIIFX vs. FCBFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIIFX Federated Hermes Intermediate Corporate Bond Fund	0.18%	7.62%	3.20%	5.66%	-10.03%	-1.61%	7.58%	9.72%	-0.48%	4.32%
FCBFX Fidelity Corporate Bond Fund	0.65%	7.86%	2.82%	8.82%	-17.11%	-1.59%	10.59%	14.48%	-2.56%	6.83%

Correlation

The correlation between FIIFX and FCBFX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since May 6, 2010	0.85

Over the past year, the correlation between FIIFX and FCBFX has dropped to 0.41 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.

Return for Risk

FIIFX vs. FCBFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FIIFX

FIIFX Risk / Return Rank: 34
FIIFX Sharpe Ratio Rank: 30
FIIFX Sortino Ratio Rank: 35
FIIFX Omega Ratio Rank: 38
FIIFX Calmar Ratio Rank: 32
FIIFX Martin Ratio Rank: 33

FCBFX

FCBFX Risk / Return Rank: 27
FCBFX Sharpe Ratio Rank: 28
FCBFX Sortino Ratio Rank: 28
FCBFX Omega Ratio Rank: 26
FCBFX Calmar Ratio Rank: 27
FCBFX Martin Ratio Rank: 26

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FIIFX vs. FCBFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Intermediate Corporate Bond Fund (FIIFX) and Fidelity Corporate Bond Fund (FCBFX). 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.

	FIIFX	FCBFX	Difference
Sharpe ratio Return per unit of total volatility	1.59	1.49	+0.10
Sortino ratio Return per unit of downside risk	2.49	2.20	+0.30
Omega ratio Gain probability vs. loss probability	1.33	1.27	+0.06
Calmar ratio Return relative to maximum drawdown	2.16	1.94	+0.22
Martin ratio Return relative to average drawdown	7.57	6.31	+1.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIIFX vs. FCBFX - Sharpe Ratio Comparison

The current FIIFX Sharpe Ratio is 1.59, which is comparable to the FCBFX Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of FIIFX and FCBFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FIIFX	FCBFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	1.49	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.08	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.47	+0.18
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	0.71	+0.36

Drawdowns

FIIFX vs. FCBFX - Drawdown Comparison

The maximum FIIFX drawdown since its inception was -14.85%, smaller than the maximum FCBFX drawdown of -23.23%. Use the drawdown chart below to compare losses from any high point for FIIFX and FCBFX.

Drawdown Indicators

	FIIFX	FCBFX	Difference
Max Drawdown Largest peak-to-trough decline	-14.85%	-23.23%	+8.38%
Max Drawdown (1Y) Largest decline over 1 year	-2.28%	-3.31%	+1.03%
Max Drawdown (3Y) Largest decline over 3 years	-3.67%	-6.57%	+2.90%
Max Drawdown (5Y) Largest decline over 5 years	-14.85%	-23.21%	+8.36%
Max Drawdown (10Y) Largest decline over 10 years	-14.85%	-23.23%	+8.38%
Current Drawdown Current decline from peak	-0.75%	-0.94%	+0.19%
Average Drawdown Average peak-to-trough decline	-1.92%	-3.98%	+2.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.65%	1.02%	-0.37%

Volatility

FIIFX vs. FCBFX - Volatility Comparison

The current volatility for Federated Hermes Intermediate Corporate Bond Fund (FIIFX) is 1.07%, while Fidelity Corporate Bond Fund (FCBFX) has a volatility of 1.46%. This indicates that FIIFX experiences smaller price fluctuations and is considered to be less risky than FCBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIIFX	FCBFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	1.46%	-0.39%
Volatility (6M) Calculated over the trailing 6-month period	2.21%	3.14%	-0.93%
Volatility (1Y) Calculated over the trailing 1-year period	3.11%	4.31%	-1.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.29%	6.69%	-2.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.82%	5.95%	-2.13%

FIIFX vs. FCBFX - Expense Ratio Comparison

FIIFX has a 0.58% expense ratio, which is higher than FCBFX's 0.44% expense ratio.

Dividends

FIIFX vs. FCBFX - Dividend Comparison

FIIFX's dividend yield for the trailing twelve months is around 4.26%, which matches FCBFX's 4.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCBFX Fidelity Corporate Bond Fund	4.23%	4.11%	3.95%	3.74%	2.53%	2.82%	3.19%	3.28%	3.65%	3.16%	3.55%	3.01%
FIIFX Federated Hermes Intermediate Corporate Bond Fund	4.26%	4.15%	3.39%	2.95%	1.97%	2.69%	2.64%	2.92%	4.02%	4.27%	3.30%	3.79%

Frequently Asked Questions

Can I hold both FIIFX and FCBFX in my portfolio?

FIIFX and FCBFX 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, FIIFX or FCBFX?

FCBFX has higher volatility (1.46%) compared to FIIFX (1.07%). In terms of maximum drawdown, FIIFX dropped -14.85% vs FCBFX's -23.23%.

Which has better risk-adjusted returns?

FIIFX currently has the higher Sharpe Ratio (1.59 vs 1.49), 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.