FLCV vs. PAYR
FLCV (Federated Hermes MDT Large Cap Value ETF) and PAYR (Federated Hermes Enhanced Income ETF) are both exchange-traded funds - FLCV is a Large Cap Value Equities fund actively managed by Federated Hermes, while PAYR is a Derivative Income fund actively managed by Federated Hermes. Both are actively managed. A 0.53 correlation means they provide meaningful diversification when combined. FLCV charges 0.32%/yr vs 0.40%/yr for PAYR.
Performance
FLCV vs. PAYR - Performance Comparison
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Returns By Period
In the year-to-date period, FLCV achieves a 12.98% return, which is significantly higher than PAYR's 7.22% return.
FLCV
- 1D
- 0.02%
- 1M
- 3.46%
- YTD
- 12.98%
- 6M
- 14.06%
- 1Y
- 22.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PAYR
- 1D
- -0.02%
- 1M
- -0.97%
- YTD
- 7.22%
- 6M
- 7.83%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FLCV vs. PAYR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FLCV Federated Hermes MDT Large Cap Value ETF | 12.98% | 2.95% |
PAYR Federated Hermes Enhanced Income ETF | 7.22% | 3.73% |
Correlation
The correlation between FLCV and PAYR is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025 | 0.53 |
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Return for Risk
FLCV vs. PAYR — Risk / Return Rank
FLCV
PAYR
FLCV vs. PAYR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Large Cap Value ETF (FLCV) and Federated Hermes Enhanced Income ETF (PAYR). 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.
| FLCV | PAYR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.36 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.05 | — | — |
| Martin ratioReturn relative to average drawdown | 15.17 | — | — |
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
| FLCV | PAYR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.04 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.33 | 1.84 | -0.52 |
Drawdowns
FLCV vs. PAYR - Drawdown Comparison
The maximum FLCV drawdown since its inception was -15.93%, which is greater than PAYR's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for FLCV and PAYR.
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Drawdown Indicators
| FLCV | PAYR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.93% | -5.24% | -10.69% |
Max Drawdown (1Y)Largest decline over 1 year | -5.70% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -4.76% | +4.76% |
Average DrawdownAverage peak-to-trough decline | -2.03% | -1.59% | -0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.52% | — | — |
Volatility
FLCV vs. PAYR - Volatility Comparison
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Volatility by Period
| FLCV | PAYR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 8.20% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 11.31% | 9.73% | +1.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.95% | 9.73% | +5.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.95% | 9.73% | +5.22% |
FLCV vs. PAYR - Expense Ratio Comparison
FLCV has a 0.32% expense ratio, which is lower than PAYR's 0.40% expense ratio.
Dividends
FLCV vs. PAYR - Dividend Comparison
FLCV's dividend yield for the trailing twelve months is around 0.73%, less than PAYR's 5.47% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FLCV Federated Hermes MDT Large Cap Value ETF | 0.73% | 0.83% | 0.24% |
PAYR Federated Hermes Enhanced Income ETF | 5.47% | 1.99% | 0.00% |
Frequently Asked Questions
FLCV and PAYR have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLCV is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLCV is cheaper with a 0.32% expense ratio, compared with 0.40% for PAYR.
PAYR has the higher dividend yield at 5.47%, compared with 0.73% for FLCV.
FLCV is categorized as Large Cap Value Equities, while PAYR is Derivative Income. Their fees differ too: 0.32% for FLCV and 0.40% for PAYR.
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