FIIFX vs. FCSPX

Last updated Jun 4, 2026

FIIFX (Federated Hermes Intermediate Corporate Bond Fund) and FCSPX (Federated Hermes Corporate Bond Strategy Port) are both Corporate Bonds funds from Federated. Over the past 10 years, FIIFX returned 2.46%/yr vs 3.39%/yr for FCSPX. Their correlation of 0.89 suggests significant overlap in exposure. FIIFX charges 0.58%/yr vs 0.00%/yr for FCSPX.

Performance

FIIFX vs. FCSPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Intermediate Corporate Bond Fund (FIIFX) and Federated Hermes Corporate Bond Strategy Port (FCSPX). 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 FCSPX's 0.87% return. Over the past 10 years, FIIFX has underperformed FCSPX with an annualized return of 2.46%, while FCSPX has yielded a comparatively higher 3.39% annualized return.

FIIFX

• 1D: 0.00%
• 1M: 0.48%
• YTD: 0.18%
• 6M: 0.64%
• 1Y: 4.93%
• 3Y*: 4.81%
• 5Y*: 1.07%
• 10Y*: 2.46%

FCSPX

• 1D: 0.10%
• 1M: 1.11%
• YTD: 0.87%
• 6M: 1.23%
• 1Y: 6.91%
• 3Y*: 5.83%
• 5Y*: 0.81%
• 10Y*: 3.39%

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

FIIFX vs. FCSPX - 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%
FCSPX Federated Hermes Corporate Bond Strategy Port	0.87%	8.13%	2.78%	8.48%	-16.25%	-0.95%	11.90%	16.59%	-3.05%	8.03%

Correlation

The correlation between FIIFX and FCSPX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jul 2, 2009	0.89

The correlation between FIIFX and FCSPX has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

Return for Risk

FIIFX vs. FCSPX — 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: 33
FIIFX Martin Ratio Rank: 34

FCSPX

FCSPX Risk / Return Rank: 32
FCSPX Sharpe Ratio Rank: 29
FCSPX Sortino Ratio Rank: 29
FCSPX Omega Ratio Rank: 36
FCSPX Calmar Ratio Rank: 33
FCSPX Martin Ratio Rank: 33

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. FCSPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Intermediate Corporate Bond Fund (FIIFX) and Federated Hermes Corporate Bond Strategy Port (FCSPX). 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	FCSPX	Difference
Sharpe ratio: Return per unit of total volatility	1.59	1.54	+0.06
Sortino ratio: Return per unit of downside risk	2.49	2.23	+0.26
Omega ratio: Gain probability vs. loss probability	1.33	1.32	+0.01
Calmar ratio: Return relative to maximum drawdown	2.16	2.18	-0.02
Martin ratio: Return relative to average drawdown	7.55	7.52	+0.03
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. FCSPX - Sharpe Ratio Comparison

The current FIIFX Sharpe Ratio is 1.59, which is comparable to the FCSPX Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of FIIFX and FCSPX, 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	FCSPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	1.54	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.12	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.55	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	0.58	+0.49

Drawdowns

FIIFX vs. FCSPX - Drawdown Comparison

The maximum FIIFX drawdown since its inception was -14.85%, smaller than the maximum FCSPX drawdown of -22.68%. Use the drawdown chart below to compare losses from any high point for FIIFX and FCSPX.

Drawdown Indicators

	FIIFX	FCSPX	Difference
Max Drawdown Largest peak-to-trough decline	-14.85%	-22.68%	+7.83%
Max Drawdown (1Y) Largest decline over 1 year	-2.28%	-3.19%	+0.91%
Max Drawdown (3Y) Largest decline over 3 years	-3.67%	-6.14%	+2.47%
Max Drawdown (5Y) Largest decline over 5 years	-14.85%	-22.68%	+7.83%
Max Drawdown (10Y) Largest decline over 10 years	-14.85%	-22.68%	+7.83%
Current Drawdown Current decline from peak	-0.75%	-0.51%	-0.24%
Average Drawdown Average peak-to-trough decline	-1.92%	-4.15%	+2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.65%	0.92%	-0.27%

Volatility

FIIFX vs. FCSPX - Volatility Comparison

The current volatility for Federated Hermes Intermediate Corporate Bond Fund (FIIFX) is 1.07%, while Federated Hermes Corporate Bond Strategy Port (FCSPX) has a volatility of 1.51%. This indicates that FIIFX experiences smaller price fluctuations and is considered to be less risky than FCSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIIFX	FCSPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	1.51%	-0.44%
Volatility (6M) Calculated over the trailing 6-month period	2.18%	3.22%	-1.04%
Volatility (1Y) Calculated over the trailing 1-year period	3.10%	4.52%	-1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.29%	6.80%	-2.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.81%	6.23%	-2.42%

FIIFX vs. FCSPX - Expense Ratio Comparison

FIIFX has a 0.58% expense ratio, which is higher than FCSPX's 0.00% expense ratio.

Dividends

FIIFX vs. FCSPX - Dividend Comparison

FIIFX's dividend yield for the trailing twelve months is around 4.26%, less than FCSPX's 4.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCSPX Federated Hermes Corporate Bond Strategy Port	4.81%	4.59%	3.95%	3.35%	3.28%	3.36%	3.51%	3.95%	4.88%	4.09%	4.30%	4.59%
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 FCSPX in my portfolio?

With a correlation of 0.90, FIIFX and FCSPX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FIIFX or FCSPX?

FCSPX has higher volatility (1.51%) compared to FIIFX (1.07%). In terms of maximum drawdown, FIIFX dropped -14.85% vs FCSPX's -22.68%.

Which has better risk-adjusted returns?

FIIFX currently has the higher Sharpe Ratio (1.59 vs 1.54), 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.