FTRFX vs. VSMAX

Last updated Jun 4, 2026

FTRFX (Federated Hermes Total Return Bond Fund) and VSMAX (Vanguard Small-Cap Index Fund Admiral Shares) are both mutual funds - FTRFX is a Intermediate Core-Plus Bond fund managed by Federated, while VSMAX is a Small Cap Blend Equities fund managed by Vanguard. Over the past 10 years, FTRFX returned 1.85%/yr vs 11.37%/yr for VSMAX. At a correlation of -0.13, they often move in opposite directions. FTRFX charges 0.69%/yr vs 0.05%/yr for VSMAX.

Performance

FTRFX vs. VSMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Total Return Bond Fund (FTRFX) and Vanguard Small-Cap Index Fund Admiral Shares (VSMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTRFX achieves a -0.08% return, which is significantly lower than VSMAX's 14.94% return. Over the past 10 years, FTRFX has underperformed VSMAX with an annualized return of 1.85%, while VSMAX has yielded a comparatively higher 11.37% annualized return.

FTRFX

• 1D: 0.00%
• 1M: 0.57%
• YTD: -0.08%
• 6M: 0.30%
• 1Y: 5.19%
• 3Y*: 3.48%
• 5Y*: -0.23%
• 10Y*: 1.85%

VSMAX

• 1D: 0.80%
• 1M: 4.24%
• YTD: 14.94%
• 6M: 14.89%
• 1Y: 29.65%
• 3Y*: 17.30%
• 5Y*: 7.34%
• 10Y*: 11.37%

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

FTRFX vs. VSMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTRFX Federated Hermes Total Return Bond Fund	-0.08%	7.28%	1.02%	4.23%	-13.31%	-0.47%	9.19%	9.42%	-1.14%	4.10%
VSMAX Vanguard Small-Cap Index Fund Admiral Shares	14.94%	8.83%	14.23%	18.17%	-17.61%	17.74%	19.06%	27.36%	-9.33%	16.24%

Correlation

The correlation between FTRFX and VSMAX 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	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.04
Correlation (All Time) Calculated using the full available price history since Nov 14, 2000	-0.13

The correlation between FTRFX and VSMAX shifts across timeframes, from -0.13 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FTRFX vs. VSMAX — Risk / Return Rank

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

FTRFX

FTRFX Risk / Return Rank: 23
FTRFX Sharpe Ratio Rank: 20
FTRFX Sortino Ratio Rank: 22
FTRFX Omega Ratio Rank: 24
FTRFX Calmar Ratio Rank: 24
FTRFX Martin Ratio Rank: 22

VSMAX

VSMAX Risk / Return Rank: 54
VSMAX Sharpe Ratio Rank: 44
VSMAX Sortino Ratio Rank: 43
VSMAX Omega Ratio Rank: 40
VSMAX Calmar Ratio Rank: 77
VSMAX Martin Ratio Rank: 67

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.

FTRFX vs. VSMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Total Return Bond Fund (FTRFX) and Vanguard Small-Cap Index Fund Admiral Shares (VSMAX). 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.

	FTRFX	VSMAX	Difference
Sharpe ratio Return per unit of total volatility	1.30	1.94	-0.64
Sortino ratio Return per unit of downside risk	2.00	2.74	-0.75
Omega ratio Gain probability vs. loss probability	1.26	1.33	-0.08
Calmar ratio Return relative to maximum drawdown	1.82	3.51	-1.69
Martin ratio Return relative to average drawdown	5.64	12.97	-7.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTRFX vs. VSMAX - Sharpe Ratio Comparison

The current FTRFX Sharpe Ratio is 1.30, which is lower than the VSMAX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of FTRFX and VSMAX, 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

	FTRFX	VSMAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.30	1.94	-0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.04	0.36	-0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.53	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.39	+0.62

Drawdowns

FTRFX vs. VSMAX - Drawdown Comparison

The maximum FTRFX drawdown since its inception was -17.95%, smaller than the maximum VSMAX drawdown of -59.68%. Use the drawdown chart below to compare losses from any high point for FTRFX and VSMAX.

Drawdown Indicators

	FTRFX	VSMAX	Difference
Max Drawdown Largest peak-to-trough decline	-17.95%	-59.68%	+41.73%
Max Drawdown (1Y) Largest decline over 1 year	-2.86%	-8.97%	+6.11%
Max Drawdown (3Y) Largest decline over 3 years	-6.57%	-25.25%	+18.68%
Max Drawdown (5Y) Largest decline over 5 years	-17.95%	-28.14%	+10.19%
Max Drawdown (10Y) Largest decline over 10 years	-17.95%	-41.82%	+23.87%
Current Drawdown Current decline from peak	-3.09%	0.00%	-3.09%
Average Drawdown Average peak-to-trough decline	-2.25%	-9.70%	+7.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	2.43%	-1.51%

Volatility

FTRFX vs. VSMAX - Volatility Comparison

The current volatility for Federated Hermes Total Return Bond Fund (FTRFX) is 1.40%, while Vanguard Small-Cap Index Fund Admiral Shares (VSMAX) has a volatility of 4.40%. This indicates that FTRFX experiences smaller price fluctuations and is considered to be less risky than VSMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTRFX	VSMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.40%	4.40%	-3.00%
Volatility (6M) Calculated over the trailing 6-month period	2.82%	11.72%	-8.90%
Volatility (1Y) Calculated over the trailing 1-year period	4.02%	16.27%	-12.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.87%	20.71%	-14.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.78%	21.57%	-16.79%

FTRFX vs. VSMAX - Expense Ratio Comparison

FTRFX has a 0.69% expense ratio, which is higher than VSMAX's 0.05% expense ratio.

Dividends

FTRFX vs. VSMAX - Dividend Comparison

FTRFX's dividend yield for the trailing twelve months is around 4.25%, more than VSMAX's 1.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTRFX Federated Hermes Total Return Bond Fund	4.25%	4.22%	3.48%	2.95%	2.25%	3.17%	4.36%	3.08%	3.19%	2.91%	3.33%	3.23%
VSMAX Vanguard Small-Cap Index Fund Admiral Shares	1.18%	1.33%	1.30%	1.56%	1.54%	1.24%	1.14%	1.39%	1.67%	1.35%	1.49%	1.48%

Frequently Asked Questions

Can I hold both FTRFX and VSMAX in my portfolio?

FTRFX and VSMAX 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, FTRFX or VSMAX?

VSMAX has higher volatility (4.40%) compared to FTRFX (1.40%). In terms of maximum drawdown, FTRFX dropped -17.95% vs VSMAX's -59.68%.

Which has better risk-adjusted returns?

VSMAX currently has the higher Sharpe Ratio (1.94 vs 1.30), 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.