filter4dAn overview of Filtered Historical Simulation (FHS) By Giovanni Barone-Adesi & Kostas Giannopoulos. FHS is a scenario generating technique for speculative assets prices (risk factors).Method 2 – Use the Excel FILTER Function to Extract Data Based on a Data Validation Drop Down List. If you are working in Excel 2019 and later versions or in Microsoft 365, you can filter data using the FILTER function..