FTRBX vs. SSAFX
FTRBX (Federated Hermes Total Return Bond Fund Institutional Shares) and SSAFX (State Street Aggregate Bond Index Portfolio) are both Intermediate Core Bond funds. Over the past 10 years, FTRBX returned 1.95%/yr vs 27.57%/yr for SSAFX. Their correlation of 0.82 means they have usually moved in the same direction. FTRBX charges 0.39%/yr vs 0.02%/yr for SSAFX.
Performance
FTRBX vs. SSAFX - Performance Comparison
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Returns By Period
In the year-to-date period, FTRBX achieves a -0.97% return, which is significantly lower than SSAFX's -0.40% return. Over the past 10 years, FTRBX has underperformed SSAFX with an annualized return of 1.95%, while SSAFX has yielded a comparatively higher 27.57% annualized return.
FTRBX
- 1D
- 0.22%
- 1M
- -1.17%
- 6M
- -0.81%
- YTD
- -0.97%
- 1Y
- 1.80%
- 3Y*
- 4.18%
- 5Y*
- -0.25%
- 10Y*
- 1.95%
- ALL TIME*
- 4.56%
SSAFX
- 1D
- 0.22%
- 1M
- -0.92%
- 6M
- -0.50%
- YTD
- -0.40%
- 1Y
- 1.97%
- 3Y*
- 3.91%
- 5Y*
- -0.53%
- 10Y*
- 27.57%
- ALL TIME*
- 23.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FTRBX vs. SSAFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTRBX Federated Hermes Total Return Bond Fund Institutional Shares | -0.97% | 7.60% | 2.03% | 5.20% | -13.13% | -0.21% | 9.52% | 9.75% | -0.85% | 4.41% |
SSAFX State Street Aggregate Bond Index Portfolio | -0.40% | 6.81% | 1.34% | 5.61% | -13.30% | -1.72% | 978.57% | 8.69% | -0.12% | 3.38% |
Correlation
The correlation between FTRBX and SSAFX is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.53 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.82 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2014 | 0.82 |
Over the past year, the correlation between FTRBX and SSAFX has dropped to 0.53 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.
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Return for Risk
FTRBX vs. SSAFX — Risk / Return Rank
FTRBX
SSAFX
FTRBX vs. SSAFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Total Return Bond Fund Institutional Shares (FTRBX) and State Street Aggregate Bond Index Portfolio (SSAFX). 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.
| FTRBX | SSAFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.10 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.03 | 0.76 | +0.27 |
| Martin ratioReturn relative to average drawdown | 2.67 | 1.89 | +0.78 |
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Drawdowns
FTRBX vs. SSAFX - Drawdown Comparison
The maximum FTRBX drawdown since its inception was -17.49%, smaller than the maximum SSAFX drawdown of -18.74%. Use the drawdown chart below to compare losses from any high point for FTRBX and SSAFX.
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Drawdown Indicators
| FTRBX | SSAFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.49% | -18.74% | +1.25% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -2.74% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -5.23% | -4.97% | -0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -17.49% | -17.99% | +0.50% |
Max Drawdown (10Y)Largest decline over 10 years | -17.49% | -18.74% | +1.25% |
Current DrawdownCurrent decline from peak | -2.19% | -3.41% | +1.22% |
Average DrawdownAverage peak-to-trough decline | -2.03% | -4.39% | +2.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 1.10% | -0.02% |
Volatility
FTRBX vs. SSAFX - Volatility Comparison
Federated Hermes Total Return Bond Fund Institutional Shares (FTRBX) and State Street Aggregate Bond Index Portfolio (SSAFX) have volatilities of 1.07% and 1.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTRBX | SSAFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.02% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 2.89% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.97% | 3.60% | +0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 5.95% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.81% | 277.57% | -272.76% |
FTRBX vs. SSAFX - Expense Ratio Comparison
FTRBX has a 0.39% expense ratio, which is higher than SSAFX's 0.02% expense ratio.
Dividends
FTRBX vs. SSAFX - Dividend Comparison
FTRBX's dividend yield for the trailing twelve months is around 4.21%, which matches SSAFX's 4.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTRBX Federated Hermes Total Return Bond Fund Institutional Shares | 4.21% | 4.52% | 4.47% | 3.84% | 2.47% | 3.43% | 4.66% | 3.38% | 3.49% | 3.21% | 3.35% | 3.53% |
SSAFX State Street Aggregate Bond Index Portfolio | 4.24% | 3.70% | 3.76% | 3.16% | 2.49% | 1.90% | 2.41% | 2.88% | 2.82% | 2.42% | 2.21% | 3.21% |
Frequently Asked Questions
FTRBX and SSAFX 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.
FTRBX has higher volatility (1.07%) compared to SSAFX (1.02%). In terms of maximum drawdown, FTRBX dropped -17.49% vs SSAFX's -18.74%.
FTRBX currently has the higher Sharpe Ratio (0.73 vs 0.58), 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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