A look at the Latin letter
A look at the Cyrillic letter
A look at the Diacritics
Maxim Zhukov: Cyrillic Ф and Greek Φ
Cyrillic Ф and Greek Φ in Trebuchet…
…and in ITC Charter
One thing is clear, though: those glyphs are most often different in either shape, or size, or both. It is customary in Cyrillic type design to let the stem of the Ф project above the cap-line. And yes, in some Cyrillic faces it also drops below the baseline—sometimes quite considerably, like in Telingater Display.
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