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ETFs

Federated Hermes Short Duration High Yield ETF

FHYS
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Dec 16 2021
Expense Ratio
0.51%
Type
US Bonds
Fund Owner
Federated Hermes
Volume (1m avg. daily)
$16,221
AUM
$27,736,080
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No

Top 10 Holdings

PVOXX
FEDERATED HERMES INSTITUTIONAL FED HER INST PR VAL OBLG INS
5.53%
n/a
FEDERATED CORE TR MUTUAL FUND
2.37%
F/24P
Ford Motor Credit Company LLC - 4.063% NT REDEEM 01/11/2024 USD 200000
2.27%
n/a
NET OTHER ASSETS
2.23%
STNLF4939792
STENA INTERNATIONAL SA SR SECURED 144A 02/25 6.125
1.42%
CLW4148105
CLEARWATER PAPER CORP COMPANY GUAR 144A 02/25 5.375
1.40%
WCC4995951
WESCO DISTRIBUTION INC COMPANY GUAR 144A 06/25 7.125
1.26%
HES4927355
HESS MIDSTREAM OPERATION COMPANY GUAR 144A 02/26 5.625
1.22%
AAL5147590
AMERICAN AIRLINES/AADVAN SR SECURED 144A 04/26 5.5
1.13%
HKMS4623743
HUB INTERNATIONAL LTD COMPANY GUAR 144A 05/26 7
1.08%
Invest with FHYS

What is FHYS?

The Fund pursues its investment objective by investing primarily in a diversified portfolio of U.S. dollar-denominated, high-yield, fixed-income instruments. Such investments may include high-yield corporate bonds (also known as junk bonds ) and floating rate term loans, each of which may be issued by U.S. or foreign, including developed and emerging markets, businesses. The Fund may also invest in other loan (and loan-related) instruments, including bank loans, covenant-lite loans, and syndicated loans. The Fund may also invest in collateralized loan obligations (CLOs), a type of asset-backed security. To pursue the Fund s investment strategy, the Adviser can invest in instruments directly or through investing in other investment companies, including, for example, affiliated funds advised by the Adviser or its affiliates. The Fund s investment adviser (the Adviser ) selects instruments, including securities that it believes have attractive risk-return characteristics. The Adviser s investment selection process includes an analysis of the issuer s financial condition, business and product strength, competitive position and management expertise. The Adviser does not limit the Fund s investments to a particular maturity range. The Adviser may lengthen or shorten duration of the portfolio from time to time based on its interest rate outlook, but, under normal market conditions, the Fund s dollar-weighted average effective duration is expected to be less than three years.

ETFs related toFHYS

ETFs correlated to FHYS include HYDB, HYS, SHYG

FHYS
Federated Hermes ETF Trust - Federated Hermes Short Duration High Yield ETF
HYDB
BlackRock Institutional Trust Company N.A. - iShares High Yield Bond Factor ETF
HYS
Pimco Exchange Traded Fund - PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund
SHYG
BlackRock Institutional Trust Company N.A. - iShares 0-5 Year High Yield Corporate Bond ETF
HYBB
iShares Trust - iShares BB Rated Corporate Bond ETF
HYG
BlackRock Institutional Trust Company N.A. - iShares iBoxx USD High Yield Corporate Bond ETF
HYLB
DBX ETF Trust - Xtrackers USD High Yield Corporate Bond ETF
HYGV
FlexShares Trust - FlexShares High Yield Value Scored Bond Index ETF
BBHY
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan BetaBuilders USD High Yield Corporate Bond ETF
UJB
ProShares Trust - ProShares Ultra High Yield 2x Shares
JNK
SPDR Series Trust - SPDR Bloomberg High Yield Bond ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
Related toFHYS

#SD

Smarter Dividends

Category

Composer's Picks, Investing for the Long-Term

Risk Rating

Moderate

#RB

Rotating Bonds

Category

Getting Defensive, Diversification

Risk Rating

Moderate

Create your own algorithmic trading strategy with FHYS using Composer

FAQ

FHYS is a US Bonds ETF. The Fund pursues its investment objective by investing primarily in a diversified portfolio of U.S. dollar-denominated, high-yield, fixed-income instruments. Such investments may include high-yield corporate bonds (also known as junk bonds ) and floating rate term loans, each of which may be issued by U.S. or foreign, including developed and emerging markets, businesses. The Fund may also invest in other loan (and loan-related) instruments, including bank loans, covenant-lite loans, and syndicated loans. The Fund may also invest in collateralized loan obligations (CLOs), a type of asset-backed security. To pursue the Fund s investment strategy, the Adviser can invest in instruments directly or through investing in other investment companies, including, for example, affiliated funds advised by the Adviser or its affiliates. The Fund s investment adviser (the Adviser ) selects instruments, including securities that it believes have attractive risk-return characteristics. The Adviser s investment selection process includes an analysis of the issuer s financial condition, business and product strength, competitive position and management expertise. The Adviser does not limit the Fund s investments to a particular maturity range. The Adviser may lengthen or shorten duration of the portfolio from time to time based on its interest rate outlook, but, under normal market conditions, the Fund s dollar-weighted average effective duration is expected to be less than three years.

Yes, FHYS is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, FHYS is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on FHYS is 0.0039%. This is the percent change in the value of FHYS over the most recent 1-month period. The 3-month return on FHYS is 0.022%. This is the percent change in the value of FHYS over the most recent 3-month period.

The standard deviation of FHYS for the past year is 0.0522%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to FHYS include IGSB, SPIB, and VCIT.

ETFs correlated to FHYS include HYDB, HYS, and SHYG.

ETFs that are inversely correlated to FHYS include SJB, SPXU, and SPXS.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.