ZTRE vs. FCSH

Last updated Apr 1, 2026

Compare and contrast key facts about F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) and Federated Hermes Short Duration Corporate ETF (FCSH).

ZTRE and FCSH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZTRE is a passively managed fund by F/m that tracks the performance of the ICE 3-Year US Target Maturity Corporate Index - Benchmark TR Gross. It was launched on Jan 10, 2024. FCSH is an actively managed fund by Federated. It was launched on Dec 16, 2021.

Performance

ZTRE vs. FCSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) and Federated Hermes Short Duration Corporate ETF (FCSH). The values are adjusted to include any dividend payments, if applicable.

ZTRE vs. FCSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ZTRE F/M 3-Year Investment Grade Corporate Bond ETF	-0.00%	6.60%	0.38%
FCSH Federated Hermes Short Duration Corporate ETF	0.43%	6.42%	0.34%

Returns By Period

ZTRE

• 1D: 0.34%
• 1M: -0.78%
• YTD: -0.00%
• 6M: 1.22%
• 1Y: 4.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FCSH

• 1D: 0.17%
• 1M: -0.71%
• YTD: 0.43%
• 6M: 1.60%
• 1Y: 4.90%
• 3Y*: 5.00%
• 5Y*: —
• 10Y*: —

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

ZTRE vs. FCSH - Expense Ratio Comparison

ZTRE has a 0.15% expense ratio, which is lower than FCSH's 0.30% expense ratio.

FCSH

Federated Hermes Short Duration Corporate ETF

ZTRE

F/M 3-Year Investment Grade Corporate Bond ETF

Return for Risk

ZTRE vs. FCSH — Risk / Return Rank

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

ZTRE

ZTRE Risk / Return Rank: 93
ZTRE Sharpe Ratio Rank: 92
ZTRE Sortino Ratio Rank: 96
ZTRE Omega Ratio Rank: 94
ZTRE Calmar Ratio Rank: 91
ZTRE Martin Ratio Rank: 93

FCSH

FCSH Risk / Return Rank: 95
FCSH Sharpe Ratio Rank: 93
FCSH Sortino Ratio Rank: 96
FCSH Omega Ratio Rank: 95
FCSH Calmar Ratio Rank: 95
FCSH Martin Ratio Rank: 95

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.

ZTRE vs. FCSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) 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.

	ZTRE	FCSH	Difference
Sharpe ratio Return per unit of total volatility	2.13	2.24	-0.11
Sortino ratio Return per unit of downside risk	3.22	3.42	-0.20
Omega ratio Gain probability vs. loss probability	1.44	1.46	-0.03
Calmar ratio Return relative to maximum drawdown	3.18	3.99	-0.81
Martin ratio Return relative to average drawdown	13.40	15.82	-2.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZTRE vs. FCSH - Sharpe Ratio Comparison

The current ZTRE Sharpe Ratio is 2.13, which is comparable to the FCSH Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of ZTRE and FCSH, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ZTRE	FCSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	2.24	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	2.60	0.87	+1.73

Correlation

The correlation between ZTRE and FCSH is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ZTRE vs. FCSH - Dividend Comparison

ZTRE's dividend yield for the trailing twelve months is around 4.68%, more than FCSH's 4.11% yield.

	TTM	2025	2024	2023	2022	2021
ZTRE F/M 3-Year Investment Grade Corporate Bond ETF	4.68%	4.37%	0.39%	0.00%	0.00%	0.00%
FCSH Federated Hermes Short Duration Corporate ETF	4.11%	4.14%	4.44%	2.31%	1.76%	0.04%

Drawdowns

ZTRE vs. FCSH - Drawdown Comparison

The maximum ZTRE drawdown since its inception was -1.45%, smaller than the maximum FCSH drawdown of -8.47%. Use the drawdown chart below to compare losses from any high point for ZTRE and FCSH.

Drawdown Indicators

	ZTRE	FCSH	Difference
Max Drawdown Largest peak-to-trough decline	-1.45%	-8.47%	+7.02%
Max Drawdown (1Y) Largest decline over 1 year	-1.45%	-1.24%	-0.21%
Current Drawdown Current decline from peak	-0.81%	-0.71%	-0.10%
Average Drawdown Average peak-to-trough decline	-0.17%	-2.28%	+2.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	0.31%	+0.03%

Volatility

ZTRE vs. FCSH - Volatility Comparison

The current volatility for F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) is 0.96%, while Federated Hermes Short Duration Corporate ETF (FCSH) has a volatility of 1.02%. This indicates that ZTRE 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

	ZTRE	FCSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	1.02%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	1.29%	1.38%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	2.16%	2.19%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.12%	2.92%	-0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.12%	2.92%	-0.80%