FMBPX vs. CMPIX
FMBPX (Federated Hermes Mortgage Strategy Portfolio) and CMPIX (Principal Core Fixed Income) are both Intermediate Core Bond funds. Over the past 10 years, FMBPX returned 1.39%/yr vs 1.59%/yr for CMPIX. A 0.75 correlation means they provide meaningful diversification when combined. FMBPX charges 0.02%/yr vs 0.74%/yr for CMPIX.
Performance
FMBPX vs. CMPIX - Performance Comparison
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Returns By Period
In the year-to-date period, FMBPX achieves a 0.45% return, which is significantly higher than CMPIX's -0.09% return. Over the past 10 years, FMBPX has underperformed CMPIX with an annualized return of 1.39%, while CMPIX has yielded a comparatively higher 1.59% annualized return.
FMBPX
- 1D
- -0.24%
- 1M
- 0.78%
- YTD
- 0.45%
- 6M
- 1.09%
- 1Y
- 6.27%
- 3Y*
- 4.36%
- 5Y*
- 0.29%
- 10Y*
- 1.39%
CMPIX
- 1D
- -0.23%
- 1M
- 0.53%
- YTD
- -0.09%
- 6M
- 0.21%
- 1Y
- 3.84%
- 3Y*
- 3.52%
- 5Y*
- -0.38%
- 10Y*
- 1.59%
FMBPX vs. CMPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMBPX Federated Hermes Mortgage Strategy Portfolio | 0.45% | 9.03% | 1.04% | 4.44% | -12.21% | -1.35% | 4.77% | 6.30% | 1.13% | 2.76% |
CMPIX Principal Core Fixed Income | -0.09% | 6.76% | 1.26% | 4.89% | -13.34% | -2.03% | 7.84% | 8.59% | -0.24% | 4.16% |
Correlation
The correlation between FMBPX and CMPIX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2009 | 0.75 |
Over the past year, the correlation between FMBPX and CMPIX has dropped to 0.45 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.
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Return for Risk
FMBPX vs. CMPIX — Risk / Return Rank
FMBPX
CMPIX
FMBPX vs. CMPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Mortgage Strategy Portfolio (FMBPX) and Principal Core Fixed Income (CMPIX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FMBPX | CMPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.19 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | 1.38 | +0.70 |
| Martin ratioReturn relative to average drawdown | 6.66 | 3.89 | +2.76 |
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Drawdowns
FMBPX vs. CMPIX - Drawdown Comparison
The maximum FMBPX drawdown since its inception was -18.34%, roughly equal to the maximum CMPIX drawdown of -18.80%. Use the drawdown chart below to compare losses from any high point for FMBPX and CMPIX.
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Drawdown Indicators
| FMBPX | CMPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.34% | -18.80% | +0.46% |
Max Drawdown (1Y)Largest decline over 1 year | -3.15% | -2.97% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -7.69% | -6.58% | -1.11% |
Max Drawdown (5Y)Largest decline over 5 years | -18.02% | -18.51% | +0.49% |
Max Drawdown (10Y)Largest decline over 10 years | -18.34% | -18.80% | +0.46% |
Current DrawdownCurrent decline from peak | -1.58% | -3.82% | +2.24% |
Average DrawdownAverage peak-to-trough decline | -3.26% | -2.48% | -0.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 1.05% | -0.07% |
Volatility
FMBPX vs. CMPIX - Volatility Comparison
Federated Hermes Mortgage Strategy Portfolio (FMBPX) has a higher volatility of 1.31% compared to Principal Core Fixed Income (CMPIX) at 1.23%. This indicates that FMBPX's price experiences larger fluctuations and is considered to be riskier than CMPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMBPX | CMPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 1.23% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.30% | 3.02% | +0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.59% | 3.93% | +0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.79% | 5.82% | +0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.13% | 4.83% | +0.30% |
FMBPX vs. CMPIX - Expense Ratio Comparison
FMBPX has a 0.02% expense ratio, which is lower than CMPIX's 0.74% expense ratio.
Dividends
FMBPX vs. CMPIX - Dividend Comparison
FMBPX's dividend yield for the trailing twelve months is around 5.04%, more than CMPIX's 3.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMPIX Principal Core Fixed Income | 3.45% | 3.35% | 3.27% | 2.37% | 2.10% | 1.94% | 2.11% | 2.71% | 3.19% | 2.91% | 3.17% | 3.29% |
FMBPX Federated Hermes Mortgage Strategy Portfolio | 5.04% | 4.87% | 4.29% | 3.46% | 2.29% | 1.96% | 2.68% | 3.23% | 3.14% | 2.83% | 2.72% | 2.65% |
Frequently Asked Questions
FMBPX and CMPIX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMBPX has higher volatility (1.31%) compared to CMPIX (1.23%). In terms of maximum drawdown, FMBPX dropped -18.34% vs CMPIX's -18.80%.
FMBPX currently has the higher Sharpe Ratio (1.43 vs 1.04), 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.
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