QKACX vs. FIHBX
QKACX (Federated Hermes MDT All Cap Core Fund Class R6) and FIHBX (Federated Hermes Institutional High Yield Bond Fund) are both mutual funds - QKACX is a Large Cap Blend Equities fund actively managed by Federated, while FIHBX is a High Yield Bonds fund managed by Federated. Over the past 10 years, QKACX returned 16.60%/yr vs 4.68%/yr for FIHBX. Their 0.38 correlation means their historical movements had little consistent relationship. QKACX charges 0.73%/yr vs 0.50%/yr for FIHBX.
Performance
QKACX vs. FIHBX - Performance Comparison
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Returns By Period
In the year-to-date period, QKACX achieves a 8.33% return, which is significantly higher than FIHBX's 0.85% return. Over the past 10 years, QKACX has outperformed FIHBX with an annualized return of 16.60%, while FIHBX has yielded a comparatively lower 4.68% annualized return.
QKACX
- 1D
- 1.49%
- 1M
- 0.83%
- 6M
- 8.35%
- YTD
- 8.33%
- 1Y
- 16.33%
- 3Y*
- 22.32%
- 5Y*
- 14.89%
- 10Y*
- 16.60%
- ALL TIME*
- 10.18%
FIHBX
- 1D
- 0.23%
- 1M
- -0.67%
- 6M
- 0.64%
- YTD
- 0.85%
- 1Y
- 4.14%
- 3Y*
- 7.26%
- 5Y*
- 3.11%
- 10Y*
- 4.68%
- ALL TIME*
- 7.17%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
QKACX vs. FIHBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QKACX Federated Hermes MDT All Cap Core Fund Class R6 | 8.33% | 21.16% | 31.05% | 23.55% | -14.17% | 31.45% | 22.00% | 26.88% | -2.65% | 21.15% |
FIHBX Federated Hermes Institutional High Yield Bond Fund | 0.85% | 8.59% | 6.40% | 13.17% | -12.64% | 3.92% | 5.99% | 15.01% | -2.80% | 7.19% |
Correlation
The correlation between QKACX and FIHBX 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 (3Y) Balances recent behavior with more history. | 0.51 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.51 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2007 | 0.38 |
Over the past year, QKACX and FIHBX have become more correlated (0.63) than their long-term average of 0.38, meaning their price movements have been converging.
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Return for Risk
QKACX vs. FIHBX — Risk / Return Rank
QKACX
FIHBX
QKACX vs. FIHBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT All Cap Core Fund Class R6 (QKACX) and Federated Hermes Institutional High Yield Bond Fund (FIHBX). 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.
| QKACX | FIHBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.32 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 1.85 | +0.01 |
| Martin ratioReturn relative to average drawdown | 8.02 | 9.24 | -1.22 |
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Drawdowns
QKACX vs. FIHBX - Drawdown Comparison
The maximum QKACX drawdown since its inception was -60.51%, which is greater than FIHBX's maximum drawdown of -31.05%. Use the drawdown chart below to compare losses from any high point for QKACX and FIHBX.
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Drawdown Indicators
| QKACX | FIHBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.51% | -31.05% | -29.46% |
Max Drawdown (1Y)Largest decline over 1 year | -8.66% | -2.45% | -6.21% |
Max Drawdown (3Y)Largest decline over 3 years | -19.42% | -3.60% | -15.82% |
Max Drawdown (5Y)Largest decline over 5 years | -23.05% | -16.35% | -6.70% |
Max Drawdown (10Y)Largest decline over 10 years | -36.47% | -21.67% | -14.80% |
Current DrawdownCurrent decline from peak | -0.21% | -0.79% | +0.58% |
Average DrawdownAverage peak-to-trough decline | -11.12% | -2.28% | -8.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 0.49% | +1.51% |
Volatility
QKACX vs. FIHBX - Volatility Comparison
Federated Hermes MDT All Cap Core Fund Class R6 (QKACX) has a higher volatility of 3.11% compared to Federated Hermes Institutional High Yield Bond Fund (FIHBX) at 0.64%. This indicates that QKACX's price experiences larger fluctuations and is considered to be riskier than FIHBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QKACX | FIHBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.11% | 0.64% | +2.47% |
Volatility (6M)Calculated over the trailing 6-month period | 10.05% | 2.70% | +7.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.78% | 3.42% | +9.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.43% | 5.19% | +12.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.64% | 5.71% | +12.93% |
QKACX vs. FIHBX - Expense Ratio Comparison
QKACX has a 0.73% expense ratio, which is higher than FIHBX's 0.50% expense ratio.
Dividends
QKACX vs. FIHBX - Dividend Comparison
QKACX's dividend yield for the trailing twelve months is around 4.36%, less than FIHBX's 6.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIHBX Federated Hermes Institutional High Yield Bond Fund | 6.04% | 6.29% | 5.94% | 5.93% | 4.58% | 4.25% | 5.14% | 5.79% | 6.24% | 5.55% | 5.75% | 6.46% |
QKACX Federated Hermes MDT All Cap Core Fund Class R6 | 4.36% | 4.72% | 8.90% | 1.45% | 11.20% | 17.85% | 3.09% | 3.41% | 8.83% | 0.74% | 0.00% | 0.52% |
Frequently Asked Questions
QKACX and FIHBX 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.
QKACX has higher volatility (3.11%) compared to FIHBX (0.64%). In terms of maximum drawdown, QKACX dropped -60.51% vs FIHBX's -31.05%.
FIHBX currently has the higher Sharpe Ratio (1.33 vs 1.26), 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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