PIT vs. FCSH

Last updated Jun 4, 2026

PIT (VanEck Commodity Strategy ETF) and FCSH (Federated Hermes Short Duration Corporate ETF) are both exchange-traded funds - PIT is a Commodities fund actively managed by VanEck, while FCSH is a Short-Term Bond fund actively managed by Federated. Both are actively managed. Over the past 3 years, PIT returned 24.30%/yr vs 5.11%/yr for FCSH. At a correlation of -0.08, they often move in opposite directions. PIT charges 0.55%/yr vs 0.30%/yr for FCSH.

Performance

PIT vs. FCSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Commodity Strategy ETF (PIT) 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, PIT achieves a 41.36% return, which is significantly higher than FCSH's 0.67% return.

PIT

• 1D: 0.58%
• 1M: -2.84%
• YTD: 41.36%
• 6M: 42.58%
• 1Y: 62.93%
• 3Y*: 24.30%
• 5Y*: —
• 10Y*: —

FCSH

• 1D: 0.02%
• 1M: 0.33%
• YTD: 0.67%
• 6M: 0.92%
• 1Y: 4.30%
• 3Y*: 5.11%
• 5Y*: —
• 10Y*: —

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

PIT vs. FCSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PIT VanEck Commodity Strategy ETF	41.36%	21.63%	6.77%	-4.54%	2.74%
FCSH Federated Hermes Short Duration Corporate ETF	0.67%	6.42%	4.66%	5.45%	-0.54%

Correlation

The correlation between PIT and FCSH is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.29
Correlation (3Y) Calculated over the trailing 3-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Dec 23, 2022	-0.08

Over the past year, the inverse relationship between PIT and FCSH has strengthened: their correlation has moved from -0.08 to -0.29, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

PIT vs. FCSH — Risk / Return Rank

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

PIT

PIT Risk / Return Rank: 87
PIT Sharpe Ratio Rank: 88
PIT Sortino Ratio Rank: 77
PIT Omega Ratio Rank: 84
PIT Calmar Ratio Rank: 93
PIT Martin Ratio Rank: 92

FCSH

FCSH Risk / Return Rank: 71
FCSH Sharpe Ratio Rank: 67
FCSH Sortino Ratio Rank: 77
FCSH Omega Ratio Rank: 73
FCSH Calmar Ratio Rank: 71
FCSH Martin Ratio Rank: 68

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.

PIT vs. FCSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Commodity Strategy ETF (PIT) 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.

	PIT	FCSH	Difference
Sharpe ratio: Return per unit of total volatility	2.97	2.21	+0.76
Sortino ratio: Return per unit of downside risk	3.53	3.45	+0.08
Omega ratio: Gain probability vs. loss probability	1.52	1.44	+0.08
Calmar ratio: Return relative to maximum drawdown	6.83	3.48	+3.35
Martin ratio: Return relative to average drawdown	23.27	12.31	+10.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PIT vs. FCSH - Sharpe Ratio Comparison

The current PIT Sharpe Ratio is 2.97, which is higher than the FCSH Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of PIT 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.

Sharpe Ratios by Period

	PIT	FCSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.97	2.21	+0.76
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	0.86	+0.21

Drawdowns

PIT vs. FCSH - Drawdown Comparison

The maximum PIT drawdown since its inception was -12.27%, which is greater than FCSH's maximum drawdown of -8.47%. Use the drawdown chart below to compare losses from any high point for PIT and FCSH.

Drawdown Indicators

	PIT	FCSH	Difference
Max Drawdown Largest peak-to-trough decline	-12.27%	-8.47%	-3.80%
Max Drawdown (1Y) Largest decline over 1 year	-9.27%	-1.24%	-8.03%
Max Drawdown (3Y) Largest decline over 3 years	-12.27%	-1.32%	-10.95%
Current Drawdown Current decline from peak	-4.56%	-0.47%	-4.09%
Average Drawdown Average peak-to-trough decline	-3.99%	-2.21%	-1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	0.35%	+2.36%

Volatility

PIT vs. FCSH - Volatility Comparison

VanEck Commodity Strategy ETF (PIT) has a higher volatility of 6.08% compared to Federated Hermes Short Duration Corporate ETF (FCSH) at 0.60%. This indicates that PIT's price experiences larger fluctuations and is considered to be riskier than FCSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PIT	FCSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.08%	0.60%	+5.48%
Volatility (6M) Calculated over the trailing 6-month period	19.02%	1.53%	+17.49%
Volatility (1Y) Calculated over the trailing 1-year period	21.30%	1.95%	+19.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.47%	2.89%	+14.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.47%	2.89%	+14.58%

PIT vs. FCSH - Expense Ratio Comparison

PIT has a 0.55% expense ratio, which is higher than FCSH's 0.30% expense ratio.

Dividends

PIT vs. FCSH - Dividend Comparison

PIT's dividend yield for the trailing twelve months is around 6.31%, more than FCSH's 4.08% yield.

Position	TTM	2025	2024	2023	2022	2021
FCSH Federated Hermes Short Duration Corporate ETF	4.08%	4.14%	4.44%	2.31%	1.76%	0.04%
PIT VanEck Commodity Strategy ETF	6.31%	8.92%	3.59%	6.44%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PIT and FCSH in my portfolio?

PIT and FCSH have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PIT or FCSH?

PIT has higher volatility (6.08%) compared to FCSH (0.60%). In terms of maximum drawdown, PIT dropped -12.27% vs FCSH's -8.47%.

Which ETF is better, PIT or FCSH?

On 3-year performance, PIT leads with 24.30% vs 5.11% for FCSH. On fees, FCSH is cheaper at 0.30% per year. On volatility, FCSH has been the lower-risk option at 0.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PIT or FCSH?

Over the 3-year period, PIT has performed better with a 24.30% return vs 5.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PIT or FCSH?

FCSH is cheaper with a 0.30% expense ratio, compared with 0.55% for PIT.

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

PIT has the higher dividend yield at 6.31%, compared with 4.08% for FCSH.

What is the main difference between PIT and FCSH?

PIT is categorized as Commodities, while FCSH is Short-Term Bond. They also come from different issuers: VanEck and Federated. Their fees differ too: 0.55% for PIT and 0.30% for FCSH.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (2.97 vs 2.21), 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.