FMBPX vs. HESAY

Last updated Jun 23, 2026

FMBPX (Federated Hermes Mortgage Strategy Portfolio) is Intermediate Core Bond fund managed by Federated, while HESAY (Hermes International SA) is a stock. Over the past 10 years, FMBPX returned 1.44%/yr vs 18.63%/yr for HESAY. At a 0.08 correlation, their price movements are largely independent.

Performance

FMBPX vs. HESAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Mortgage Strategy Portfolio (FMBPX) and Hermes International SA (HESAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMBPX achieves a 0.69% return, which is significantly higher than HESAY's -25.73% return. Over the past 10 years, FMBPX has underperformed HESAY with an annualized return of 1.44%, while HESAY has yielded a comparatively higher 18.63% annualized return.

FMBPX

• 1D: 0.24%
• 1M: 1.02%
• YTD: 0.69%
• 6M: 1.33%
• 1Y: 6.77%
• 3Y*: 4.44%
• 5Y*: 0.34%
• 10Y*: 1.44%

HESAY

• 1D: -1.54%
• 1M: -1.95%
• YTD: -25.73%
• 6M: -25.04%
• 1Y: -30.07%
• 3Y*: -3.17%
• 5Y*: 5.36%
• 10Y*: 18.63%

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

FMBPX vs. HESAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMBPX Federated Hermes Mortgage Strategy Portfolio	0.69%	9.03%	1.04%	4.44%	-12.21%	-1.35%	4.77%	6.30%	1.13%	2.76%
HESAY Hermes International SA	-25.73%	4.83%	13.70%	38.27%	-11.23%	63.06%	44.39%	37.55%	4.07%	32.55%

Correlation

The correlation between FMBPX and HESAY is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since Aug 28, 2009	0.08

The correlation between FMBPX and HESAY shifts across timeframes, from 0.08 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FMBPX vs. HESAY — Risk / Return Rank

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

FMBPX

FMBPX Risk / Return Rank: 35
FMBPX Sharpe Ratio Rank: 31
FMBPX Sortino Ratio Rank: 37
FMBPX Omega Ratio Rank: 36
FMBPX Calmar Ratio Rank: 36
FMBPX Martin Ratio Rank: 33

HESAY

HESAY Risk / Return Rank: 8
HESAY Sharpe Ratio Rank: 6
HESAY Sortino Ratio Rank: 9
HESAY Omega Ratio Rank: 10
HESAY Calmar Ratio Rank: 10
HESAY Martin Ratio Rank: 8

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.

FMBPX vs. HESAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Mortgage Strategy Portfolio (FMBPX) and Hermes International SA (HESAY). 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	HESAY	Difference
Sharpe ratio: Return per unit of total volatility	1.49	-0.95	+2.44
Sortino ratio: Return per unit of downside risk	2.36	-1.25	+3.61
Omega ratio: Gain probability vs. loss probability	1.30	0.85	+0.45
Calmar ratio: Return relative to maximum drawdown	2.16	-0.83	+2.99
Martin ratio: Return relative to average drawdown	6.95	-1.44	+8.39

FMBPX vs. HESAY - Sharpe Ratio Comparison

The current FMBPX Sharpe Ratio is 1.49, which is higher than the HESAY Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of FMBPX and HESAY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FMBPX vs. HESAY - Drawdown Comparison

The maximum FMBPX drawdown since its inception was -18.34%, smaller than the maximum HESAY drawdown of -45.60%. Use the drawdown chart below to compare losses from any high point for FMBPX and HESAY.

Drawdown Indicators

	FMBPX	HESAY	Difference
Max Drawdown Largest peak-to-trough decline	-18.34%	-45.60%	+27.26%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	-36.48%	+33.33%
Max Drawdown (3Y) Largest decline over 3 years	-7.69%	-38.23%	+30.54%
Max Drawdown (5Y) Largest decline over 5 years	-18.02%	-45.60%	+27.58%
Max Drawdown (10Y) Largest decline over 10 years	-18.34%	-45.60%	+27.26%
Current Drawdown Current decline from peak	-1.35%	-37.92%	+36.57%
Average Drawdown Average peak-to-trough decline	-3.26%	-10.89%	+7.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	20.90%	-19.92%

Volatility

FMBPX vs. HESAY - Volatility Comparison

The current volatility for Federated Hermes Mortgage Strategy Portfolio (FMBPX) is 1.44%, while Hermes International SA (HESAY) has a volatility of 12.34%. This indicates that FMBPX experiences smaller price fluctuations and is considered to be less risky than HESAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMBPX	HESAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	12.34%	-10.90%
Volatility (6M) Calculated over the trailing 6-month period	3.29%	25.29%	-22.00%
Volatility (1Y) Calculated over the trailing 1-year period	4.59%	31.84%	-27.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.79%	31.85%	-25.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.12%	28.03%	-22.91%

Dividends

FMBPX vs. HESAY - Dividend Comparison

FMBPX's dividend yield for the trailing twelve months is around 5.03%, more than HESAY's 1.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMBPX Federated Hermes Mortgage Strategy Portfolio	5.03%	4.87%	4.29%	3.46%	2.29%	1.96%	2.68%	3.23%	3.14%	2.83%	2.72%	2.65%
HESAY Hermes International SA	1.15%	1.18%	1.13%	0.67%	0.57%	0.31%	0.46%	0.68%	0.91%	1.55%	1.81%	2.54%

Frequently Asked Questions

Can I hold both FMBPX and HESAY in my portfolio?

FMBPX and HESAY have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMBPX or HESAY?

HESAY has higher volatility (12.34%) compared to FMBPX (1.44%). In terms of maximum drawdown, FMBPX dropped -18.34% vs HESAY's -45.60%.

Which has better risk-adjusted returns?

FMBPX currently has the higher Sharpe Ratio (1.49 vs -0.95), 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.