XCCC vs. FHYS

Last updated Aug 4, 2026

XCCC (BondBloxx CCC Rated USD High Yield Corporate Bond ETF) and FHYS (Federated Hermes Short Duration High Yield ETF) are both High Yield Bonds funds. XCCC is passively managed, while FHYS is actively managed. Over the past 3 years, XCCC returned 9.25%/yr vs 7.30%/yr for FHYS. Their 0.78 correlation means they have sometimes moved together and sometimes differently. XCCC charges 0.40%/yr vs 0.51%/yr for FHYS.

Performance

XCCC vs. FHYS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx CCC Rated USD High Yield Corporate Bond ETF (XCCC) and Federated Hermes Short Duration High Yield ETF (FHYS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XCCC achieves a -0.37% return, which is significantly lower than FHYS's 2.02% return.

XCCC

• 1D: 0.27%
• 1M: -0.68%
• 6M: -0.44%
• YTD: -0.37%
• 1Y: 2.89%
• 3Y*: 9.25%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.11%

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%

*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)
FHYS Federated Hermes Short Duration High Yield ETF	$257.24K	$358.40K	$371.40K
XCCC BondBloxx CCC Rated USD High Yield Corporate Bond ETF	$3.06M	$5.79M	$10.07M

XCCC vs. FHYS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XCCC BondBloxx CCC Rated USD High Yield Corporate Bond ETF	-0.37%	7.25%	13.01%	20.57%	-4.80%
FHYS Federated Hermes Short Duration High Yield ETF	2.02%	7.72%	7.23%	10.88%	0.59%

Correlation

The correlation between XCCC and FHYS is 0.72, 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.	0.72
Correlation (3Y) Balances recent behavior with more history.	0.71
Correlation (All Time) Calculated using the full available price history since May 26, 2022	0.78

The correlation between XCCC and FHYS has been stable across timeframes, ranging from 0.71 to 0.78 - a consistent structural relationship.

Return for Risk

XCCC vs. FHYS — Risk / Return Rank

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

XCCC

XCCC Risk / Return Rank: 23
XCCC Sharpe Ratio Rank: 24
XCCC Sortino Ratio Rank: 22
XCCC Omega Ratio Rank: 22
XCCC Calmar Ratio Rank: 21
XCCC Martin Ratio Rank: 24

FHYS

FHYS Risk / Return Rank: 84
FHYS Sharpe Ratio Rank: 78
FHYS Sortino Ratio Rank: 85
FHYS Omega Ratio Rank: 86
FHYS Calmar Ratio Rank: 80
FHYS Martin Ratio Rank: 91

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.

XCCC vs. FHYS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BondBloxx CCC Rated USD High Yield Corporate Bond ETF (XCCC) 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.

	XCCC	FHYS	Difference
Sharpe ratio: Return per unit of total volatility	0.55	1.92	-1.37
Sortino ratio: Return per unit of downside risk	0.81	2.99	-2.18
Omega ratio: Gain probability vs. loss probability	1.10	1.39	-0.30
Calmar ratio: Return relative to maximum drawdown	0.57	3.13	-2.56
Martin ratio: Return relative to average drawdown	1.82	15.58	-13.76

XCCC vs. FHYS - Sharpe Ratio Comparison

The current XCCC Sharpe Ratio is 0.55, which is lower than the FHYS Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of XCCC and FHYS, 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

XCCC vs. FHYS - Drawdown Comparison

The maximum XCCC drawdown since its inception was -10.99%, smaller than the maximum FHYS drawdown of -11.62%. Use the drawdown chart below to compare losses from any high point for XCCC and FHYS.

Drawdown Indicators

	XCCC	FHYS	Difference
Max Drawdown Largest peak-to-trough decline	-10.99%	-11.62%	+0.63%
Max Drawdown (1Y) Largest decline over 1 year	-5.11%	-1.66%	-3.45%
Max Drawdown (3Y) Largest decline over 3 years	-10.99%	-3.16%	-7.83%
Current Drawdown Current decline from peak	-1.37%	-0.06%	-1.31%
Average Drawdown Average peak-to-trough decline	-1.89%	-2.21%	+0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.60%	0.33%	+1.27%

Volatility

XCCC vs. FHYS - Volatility Comparison

BondBloxx CCC Rated USD High Yield Corporate Bond ETF (XCCC) has a higher volatility of 1.22% compared to Federated Hermes Short Duration High Yield ETF (FHYS) at 0.73%. This indicates that XCCC'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.

Volatility by Period

	XCCC	FHYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	0.73%	+0.49%
Volatility (6M) Calculated over the trailing 6-month period	4.14%	2.28%	+1.86%
Volatility (1Y) Calculated over the trailing 1-year period	5.31%	2.71%	+2.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.69%	4.88%	+3.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.69%	4.88%	+3.81%

XCCC vs. FHYS - Expense Ratio Comparison

XCCC has a 0.40% expense ratio, which is lower than FHYS's 0.51% expense ratio.

Dividends

XCCC vs. FHYS - Dividend Comparison

XCCC's dividend yield for the trailing twelve months is around 10.25%, more 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%
XCCC BondBloxx CCC Rated USD High Yield Corporate Bond ETF	10.25%	10.06%	10.68%	12.05%	7.63%	0.00%

Frequently Asked Questions

Can I hold both XCCC and FHYS in my portfolio?

XCCC and FHYS have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XCCC or FHYS?

XCCC has higher volatility (1.22%) compared to FHYS (0.73%). In terms of maximum drawdown, XCCC dropped -10.99% vs FHYS's -11.62%.

Which ETF is better, XCCC or FHYS?

On 3-year performance, XCCC leads with 9.25% vs 7.30% for FHYS. On fees, XCCC is cheaper at 0.40% per year. On volatility, FHYS has been the lower-risk option at 0.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XCCC or FHYS?

Over the 3-year period, XCCC has performed better with a 9.25% return vs 7.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XCCC or FHYS?

XCCC is cheaper with a 0.40% expense ratio, compared with 0.51% for FHYS.

Which ETF pays a higher dividend yield, XCCC or FHYS?

XCCC has the higher dividend yield at 10.25%, compared with 5.91% for FHYS.

What is the main difference between XCCC and FHYS?

They also come from different issuers: BondBloxx and Federated. Their fees differ too: 0.40% for XCCC and 0.51% for FHYS.

Which has better risk-adjusted returns?

FHYS currently has the higher Sharpe Ratio (1.92 vs 0.55), 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.