NBSD vs. FCSH

Last updated Aug 2, 2026

NBSD (Neuberger Berman Short Duration Income ETF) and FCSH (Federated Hermes Short Duration Corporate ETF) are both Short-Term Bond funds. Both are actively managed. Over the past year, NBSD returned 3.72% vs 2.59% for FCSH. Their 0.55 correlation means they have sometimes moved together and sometimes differently. NBSD charges 0.35%/yr vs 0.30%/yr for FCSH.

Performance

NBSD vs. FCSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Short Duration Income ETF (NBSD) and Federated Hermes Short Duration Corporate ETF (FCSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBSD achieves a 1.35% return, which is significantly higher than FCSH's 0.48% return.

NBSD

• 1D: 0.03%
• 1M: 0.28%
• 6M: 0.81%
• YTD: 1.35%
• 1Y: 3.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.47%

FCSH

• 1D: -0.04%
• 1M: -0.31%
• 6M: 0.16%
• YTD: 0.48%
• 1Y: 2.59%
• 3Y*: 5.01%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.32%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCSH Federated Hermes Short Duration Corporate ETF	$20.04K	$21.66K	$33.56K
NBSD Neuberger Berman Short Duration Income ETF	$7.09M	$9.57M	$8.83M

NBSD vs. FCSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NBSD Neuberger Berman Short Duration Income ETF	1.35%	6.18%	3.93%
FCSH Federated Hermes Short Duration Corporate ETF	0.48%	6.42%	2.91%

Correlation

The correlation between NBSD and FCSH is 0.63, 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.	0.63
Correlation (All Time) Calculated using the full available price history since Jun 24, 2024	0.55

The correlation between NBSD and FCSH has been stable across timeframes, ranging from 0.55 to 0.63 - a consistent structural relationship.

Return for Risk

NBSD vs. FCSH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NBSD

NBSD Risk / Return Rank: 94
NBSD Sharpe Ratio Rank: 96
NBSD Sortino Ratio Rank: 97
NBSD Omega Ratio Rank: 96
NBSD Calmar Ratio Rank: 88
NBSD Martin Ratio Rank: 94

FCSH

FCSH Risk / Return Rank: 68
FCSH Sharpe Ratio Rank: 67
FCSH Sortino Ratio Rank: 73
FCSH Omega Ratio Rank: 70
FCSH Calmar Ratio Rank: 71
FCSH Martin Ratio Rank: 60

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NBSD vs. FCSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Short Duration Income ETF (NBSD) and Federated Hermes Short Duration Corporate ETF (FCSH). 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.

	NBSD	FCSH	Difference
Sharpe ratio: Return per unit of total volatility	2.98	1.55	+1.43
Sortino ratio: Return per unit of downside risk	4.89	2.37	+2.52
Omega ratio: Gain probability vs. loss probability	1.65	1.30	+0.36
Calmar ratio: Return relative to maximum drawdown	3.58	2.47	+1.11
Martin ratio: Return relative to average drawdown	18.35	7.25	+11.10

NBSD vs. FCSH - Sharpe Ratio Comparison

The current NBSD Sharpe Ratio is 2.98, which is higher than the FCSH Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of NBSD and FCSH, 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

NBSD vs. FCSH - Drawdown Comparison

The maximum NBSD drawdown since its inception was -2.63%, smaller than the maximum FCSH drawdown of -8.47%. Use the drawdown chart below to compare losses from any high point for NBSD and FCSH.

Drawdown Indicators

	NBSD	FCSH	Difference
Max Drawdown Largest peak-to-trough decline	-2.63%	-8.47%	+5.84%
Max Drawdown (1Y) Largest decline over 1 year	-1.19%	-1.24%	+0.05%
Max Drawdown (3Y) Largest decline over 3 years	—	-1.32%	—
Current Drawdown Current decline from peak	-0.03%	-0.65%	+0.62%
Average Drawdown Average peak-to-trough decline	-0.22%	-2.15%	+1.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.23%	0.42%	-0.19%

Volatility

NBSD vs. FCSH - Volatility Comparison

The current volatility for Neuberger Berman Short Duration Income ETF (NBSD) is 0.40%, while Federated Hermes Short Duration Corporate ETF (FCSH) has a volatility of 0.49%. This indicates that NBSD experiences smaller price fluctuations and is considered to be less risky than FCSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBSD	FCSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.40%	0.49%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	1.07%	1.65%	-0.58%
Volatility (1Y) Calculated over the trailing 1-year period	1.42%	1.98%	-0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.70%	2.87%	-0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.70%	2.87%	-0.17%

NBSD vs. FCSH - Expense Ratio Comparison

NBSD has a 0.35% expense ratio, which is higher than FCSH's 0.30% expense ratio.

Dividends

NBSD vs. FCSH - Dividend Comparison

NBSD's dividend yield for the trailing twelve months is around 4.75%, more than FCSH's 4.24% yield.

Position	TTM	2025	2024	2023	2022	2021
FCSH Federated Hermes Short Duration Corporate ETF	4.24%	4.14%	4.44%	2.31%	1.76%	0.04%
NBSD Neuberger Berman Short Duration Income ETF	4.75%	5.06%	2.96%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NBSD and FCSH in my portfolio?

NBSD and FCSH have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBSD or FCSH?

FCSH has higher volatility (0.49%) compared to NBSD (0.40%). In terms of maximum drawdown, NBSD dropped -2.63% vs FCSH's -8.47%.

Which ETF is better, NBSD or FCSH?

On 1-year performance, NBSD leads with 3.72% vs 2.59% for FCSH. On fees, FCSH is cheaper at 0.30% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBSD or FCSH?

Over the 1-year period, NBSD has performed better with a 3.72% return vs 2.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBSD or FCSH?

FCSH is cheaper with a 0.30% expense ratio, compared with 0.35% for NBSD.

Which ETF pays a higher dividend yield, NBSD or FCSH?

NBSD has the higher dividend yield at 4.75%, compared with 4.24% for FCSH.

What is the main difference between NBSD and FCSH?

They also come from different issuers: Neuberger Berman and Federated. Their fees differ too: 0.35% for NBSD and 0.30% for FCSH.

Which has better risk-adjusted returns?

NBSD currently has the higher Sharpe Ratio (2.98 vs 1.55), 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.