SKOR vs. FHYS
SKOR (FlexShares Credit-Scored US Corporate Bond Index Fund) and FHYS (Federated Hermes Short Duration High Yield ETF) are both exchange-traded funds - SKOR is a Corporate Bonds fund tracking the NorthernTrustUS Corporate Bond Quality Value Index, while FHYS is a High Yield Bonds fund actively managed by Federated. SKOR is passively managed, while FHYS is actively managed. Over the past 3 years, SKOR returned 5.94%/yr vs 7.91%/yr for FHYS. A 0.56 correlation means they provide meaningful diversification when combined. SKOR charges 0.22%/yr vs 0.51%/yr for FHYS.
Performance
SKOR vs. FHYS - Performance Comparison
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Returns By Period
In the year-to-date period, SKOR achieves a 0.45% return, which is significantly lower than FHYS's 1.59% return.
SKOR
- 1D
- 0.11%
- 1M
- 0.25%
- YTD
- 0.45%
- 6M
- 0.78%
- 1Y
- 5.01%
- 3Y*
- 5.94%
- 5Y*
- 1.81%
- 10Y*
- 2.88%
FHYS
- 1D
- 0.11%
- 1M
- 0.46%
- YTD
- 1.59%
- 6M
- 2.04%
- 1Y
- 6.40%
- 3Y*
- 7.91%
- 5Y*
- —
- 10Y*
- —
SKOR vs. FHYS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 0.45% | 7.99% | 4.42% | 7.64% | -9.88% | -0.09% |
FHYS Federated Hermes Short Duration High Yield ETF | 1.59% | 7.72% | 7.23% | 10.88% | -7.31% | 0.98% |
Correlation
The correlation between SKOR and FHYS is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2021 | 0.56 |
The correlation between SKOR and FHYS has been stable across timeframes, ranging from 0.56 to 0.62 - a consistent structural relationship.
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Return for Risk
SKOR vs. FHYS — Risk / Return Rank
SKOR
FHYS
SKOR vs. FHYS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) 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.
| SKOR | FHYS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.51 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 3.86 | -1.45 |
| Martin ratioReturn relative to average drawdown | 8.60 | 19.93 | -11.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SKOR | FHYS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.86 | 2.41 | -0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.92 | -0.29 |
Drawdowns
SKOR vs. FHYS - Drawdown Comparison
The maximum SKOR drawdown since its inception was -15.98%, which is greater than FHYS's maximum drawdown of -11.62%. Use the drawdown chart below to compare losses from any high point for SKOR and FHYS.
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Drawdown Indicators
| SKOR | FHYS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.98% | -11.62% | -4.36% |
Max Drawdown (1Y)Largest decline over 1 year | -2.09% | -1.66% | -0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -3.11% | -3.16% | +0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -15.13% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -15.98% | — | — |
Current DrawdownCurrent decline from peak | -0.67% | -0.05% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -2.65% | -2.28% | -0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.32% | +0.26% |
Volatility
SKOR vs. FHYS - Volatility Comparison
FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) has a higher volatility of 0.84% compared to Federated Hermes Short Duration High Yield ETF (FHYS) at 0.76%. This indicates that SKOR'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
| SKOR | FHYS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 0.76% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 1.99% | 2.17% | -0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.72% | 2.67% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.42% | 4.94% | -0.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.90% | 4.94% | -0.04% |
SKOR vs. FHYS - Expense Ratio Comparison
SKOR has a 0.22% expense ratio, which is lower than FHYS's 0.51% expense ratio.
Dividends
SKOR vs. FHYS - Dividend Comparison
SKOR's dividend yield for the trailing twelve months is around 4.66%, less than FHYS's 5.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHYS Federated Hermes Short Duration High Yield ETF | 5.76% | 5.96% | 6.42% | 6.76% | 6.25% | 0.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 4.66% | 4.70% | 4.90% | 3.90% | 2.57% | 2.55% | 3.38% | 3.53% | 2.85% | 2.46% | 2.74% | 2.25% |
Frequently Asked Questions
SKOR and FHYS have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SKOR has higher volatility (0.84%) compared to FHYS (0.76%). In terms of maximum drawdown, SKOR dropped -15.98% vs FHYS's -11.62%.
On 3-year performance, FHYS leads with 7.91% vs 5.94% for SKOR. On fees, SKOR is cheaper at 0.22% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FHYS has performed better with a 7.91% return vs 5.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SKOR is cheaper with a 0.22% expense ratio, compared with 0.51% for FHYS.
FHYS has the higher dividend yield at 5.76%, compared with 4.66% for SKOR.
SKOR is categorized as Corporate Bonds, while FHYS is High Yield Bonds. They also come from different issuers: Northern Trust and Federated. Their fees differ too: 0.22% for SKOR and 0.51% for FHYS.
FHYS currently has the higher Sharpe Ratio (2.41 vs 1.86), 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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