Filings Digest
Two Research Affiliates ETFs will charge more, and Anthropic funds are effective but not trading
Federated Hermes Short Duration High Yield ETF
The ETF.net FHYS Grade
C
Score 51 out of 100
- 8 of 13
Score 51 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.D30 out of 100Rank 8 of 13Mission
Whether the fund did what it promised, tested against its stated mandate.A71 out of 100Rank 8 of 11Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B66 out of 100Rank 3 of 13Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C42 out of 100Rank 9 of 13Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B62 out of 100Rank 8 of 13Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D39 out of 100Rank 9 of 13
Our read on FHYS
In short
CFederated Hermes' credit desk picks this one by hand: high-yield bonds plus bank loans, duration generally kept under three years. Credit risk, dialed-down rate risk, for 0.50% net of a waiver through May 1, 2027.
Stated mandate
The Fund seeks high current income.
Why people hold it
Worth knowing
FHYS Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.
FHYS$10,337
Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | FHYS |
|---|---|
| Year to date | +1.9% |
| 1 month | +1.1% |
| 3 months | +0.2% |
| 1 year | +3.4% |
| 3 years | +7.1% |
| 5 years | |
| 10 years |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FHYS |
|---|---|---|
| 2026 YTD | +1.9% | |
| 2025 | +7.7% | |
| 2024 | +7.2% | |
| 2023 | +10.9% | |
| 2022 | −7.3% | |
| 2021 | +1.0% |
FHYS in the news
FHYS Dividends
- 6.64%
- $1.50
- $0.12 per share
- Monthly
FHYS Risk
- 2.7%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.93
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −11.6%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.28
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
FHYS Cost
Overpaying vs HYDB, tied cheapest in International High Yield Bond
$2,853
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
FHYS 0.50%
$9,979
HYDB 0.35% Tied cheapest
$7,126
Cost over time
Year by year
| Year | FHYS | HYDB | Overpaying |
|---|---|---|---|
| 10 | $900 | $634 | $266 |
| 20 | $3,460 | $2,454 | $1,006 |
| 30 | $9,979 | $7,126 | $2,853 |
You pay 0.50%Waived by Federated Hermes 0.11%
Full fee 0.61% waiver 0.11% you pay 0.50%
Other funds in International High Yield Bond
- BPGHYInvesco Global ex-US High Yield Corporate Bond ETFExpense ratio 0.35%1 year return +0.8%
- BEMHYiShares J.P. Morgan EM High Yield Bond ETFExpense ratio 0.50%1 year return +2.5%
- CNJNKColumbia U.S. High Yield ETFExpense ratio 0.46%1 year return +2.0%
- CVEMYVirtus Stone Harbor Emerging Markets High Yield Bond ETFExpense ratio 0.55%1 year return +5.0%
- DPBSCPacer Barings Secured Credit Flex ETFExpense ratio 0.49%1 year return