MKTN vs. FHYS
MKTN (Federated Hermes MDT Market Neutral ETF) and FHYS (Federated Hermes Short Duration High Yield ETF) are both exchange-traded funds - MKTN is a Equity Market Neutral fund actively managed by Federated, while FHYS is a High Yield Bonds fund actively managed by Federated. Both are actively managed. Their -0.02 correlation means they have often moved in opposite directions in the past. MKTN charges 1.94%/yr vs 0.51%/yr for FHYS.
Performance
MKTN vs. FHYS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MKTN achieves a 5.83% return, which is significantly higher than FHYS's 2.02% return.
MKTN
- 1D
- -0.59%
- 1M
- 3.96%
- 6M
- 5.85%
- YTD
- 5.83%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
FHYS
- 1D
- 0.33%
- 1M
- 0.06%
- 6M
- 1.72%
- YTD
- 2.02%
- 1Y
- 5.18%
- 3Y*
- 7.30%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $257.24K | $358.40K | $371.40K | |
| $689.04K | $500.50K | $628.77K |
MKTN vs. FHYS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MKTN Federated Hermes MDT Market Neutral ETF | 5.83% | 3.22% |
FHYS Federated Hermes Short Duration High Yield ETF | 2.02% | 1.89% |
Correlation
The correlation between MKTN and FHYS is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 25, 2025 | -0.02 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MKTN vs. FHYS — Risk / Return Rank
MKTN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FHYS
MKTN vs. FHYS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Market Neutral ETF (MKTN) 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.
| MKTN | FHYS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.39 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.13 | — |
| Martin ratioReturn relative to average drawdown | — | 15.58 | — |
Loading charts...
Drawdowns
MKTN vs. FHYS - Drawdown Comparison
The maximum MKTN drawdown since its inception was -4.13%, smaller than the maximum FHYS drawdown of -11.62%. Use the drawdown chart below to compare losses from any high point for MKTN and FHYS.
Loading charts...
Drawdown Indicators
| MKTN | FHYS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.13% | -11.62% | +7.49% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.66% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.16% | — |
Current DrawdownCurrent decline from peak | -0.59% | -0.06% | -0.53% |
Average DrawdownAverage peak-to-trough decline | -1.08% | -2.21% | +1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.33% | — |
Volatility
MKTN vs. FHYS - Volatility Comparison
Loading charts...
Volatility by Period
| MKTN | FHYS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.73% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.28% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.67% | 2.71% | +3.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.67% | 4.88% | +1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.67% | 4.88% | +1.79% |
MKTN vs. FHYS - Expense Ratio Comparison
MKTN has a 1.94% expense ratio, which is higher than FHYS's 0.51% expense ratio.
Dividends
MKTN vs. FHYS - Dividend Comparison
MKTN's dividend yield for the trailing twelve months is around 0.48%, less than FHYS's 5.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FHYS Federated Hermes Short Duration High Yield ETF | 5.91% | 5.96% | 6.42% | 6.76% | 6.25% | 0.16% |
MKTN Federated Hermes MDT Market Neutral ETF | 0.48% | 0.51% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MKTN and FHYS have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FHYS is cheaper at 0.51% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FHYS is cheaper with a 0.51% expense ratio, compared with 1.94% for MKTN.
FHYS has the higher dividend yield at 5.91%, compared with 0.48% for MKTN.
MKTN is categorized as Equity Market Neutral, while FHYS is High Yield Bonds. Their fees differ too: 1.94% for MKTN and 0.51% for FHYS.
Find the right allocation for MKTN and FHYS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer