INSP vs. FHYS
INSP (Inspire Medical Systems, Inc.) is a stock, while FHYS (Federated Hermes Short Duration High Yield ETF) is High Yield Bonds fund actively managed by Federated. Over the past 3 years, INSP returned -49.02%/yr vs 7.76%/yr for FHYS. At a 0.37 correlation, their price movements are largely independent.
Performance
INSP vs. FHYS - Performance Comparison
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Returns By Period
In the year-to-date period, INSP achieves a -54.73% return, which is significantly lower than FHYS's 1.65% return.
INSP
- 1D
- 0.97%
- 1M
- -4.77%
- YTD
- -54.73%
- 6M
- -56.04%
- 1Y
- -67.88%
- 3Y*
- -49.02%
- 5Y*
- -26.62%
- 10Y*
- —
FHYS
- 1D
- -0.09%
- 1M
- 0.35%
- YTD
- 1.65%
- 6M
- 1.72%
- 1Y
- 5.76%
- 3Y*
- 7.76%
- 5Y*
- —
- 10Y*
- —
INSP vs. FHYS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
INSP Inspire Medical Systems, Inc. | -54.73% | -50.25% | -8.87% | -19.24% | 9.48% | 10.53% |
FHYS Federated Hermes Short Duration High Yield ETF | 1.65% | 7.72% | 7.23% | 10.88% | -7.31% | 0.73% |
Correlation
The correlation between INSP and FHYS is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021 | 0.37 |
Over the past year, the correlation between INSP and FHYS has dropped to 0.17 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.
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Return for Risk
INSP vs. FHYS — Risk / Return Rank
INSP
FHYS
INSP vs. FHYS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Inspire Medical Systems, Inc. (INSP) and Federated Hermes Short Duration High Yield ETF (FHYS). 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.
| INSP | FHYS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.07 | ||
| Sortino ratioReturn per unit of downside risk | -4.86 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 1.45 | -0.66 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 3.48 | -4.42 |
| Martin ratioReturn relative to average drawdown | -1.43 | 17.86 | -19.29 |
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Drawdowns
INSP vs. FHYS - Drawdown Comparison
The maximum INSP drawdown since its inception was -87.72%, which is greater than FHYS's maximum drawdown of -11.62%. Use the drawdown chart below to compare losses from any high point for INSP and FHYS.
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Drawdown Indicators
| INSP | FHYS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.72% | -11.62% | -76.10% |
Max Drawdown (1Y)Largest decline over 1 year | -72.19% | -1.66% | -70.53% |
Max Drawdown (3Y)Largest decline over 3 years | -87.72% | -3.16% | -84.56% |
Max Drawdown (5Y)Largest decline over 5 years | -87.72% | — | — |
Current DrawdownCurrent decline from peak | -87.20% | -0.12% | -87.08% |
Average DrawdownAverage peak-to-trough decline | -27.94% | -2.26% | -25.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.52% | 0.32% | +47.20% |
Volatility
INSP vs. FHYS - Volatility Comparison
Inspire Medical Systems, Inc. (INSP) has a higher volatility of 10.68% compared to Federated Hermes Short Duration High Yield ETF (FHYS) at 0.64%. This indicates that INSP's price experiences larger fluctuations and is considered to be riskier than FHYS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INSP | FHYS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.68% | 0.64% | +10.04% |
Volatility (6M)Calculated over the trailing 6-month period | 41.96% | 2.20% | +39.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 74.79% | 2.69% | +72.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.32% | 4.92% | +55.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.47% | 4.92% | +55.55% |
Dividends
INSP vs. FHYS - Dividend Comparison
INSP has not paid dividends to shareholders, while FHYS's dividend yield for the trailing twelve months is around 5.76%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FHYS Federated Hermes Short Duration High Yield ETF | 5.76% | 5.96% | 6.42% | 6.76% | 6.25% | 0.16% |
INSP Inspire Medical Systems, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
INSP and FHYS have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INSP has higher volatility (10.68%) compared to FHYS (0.64%). In terms of maximum drawdown, INSP dropped -87.72% vs FHYS's -11.62%.
FHYS currently has the higher Sharpe Ratio (2.16 vs -0.91), 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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