CMCIX vs. QASGX

Last updated Aug 1, 2026

CMCIX (Calvert Small/Mid-Cap Fund Class I) and QASGX (Federated Hermes MDT Small Cap Growth Fund Class A) are both Small Cap Growth Equities funds. Both are actively managed. Over the past year, CMCIX returned 8.24% vs 34.94% for QASGX. Their 0.48 correlation means their historical movements had little consistent relationship. CMCIX charges 1.26%/yr vs 1.14%/yr for QASGX.

Performance

CMCIX vs. QASGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert Small/Mid-Cap Fund Class I (CMCIX) and Federated Hermes MDT Small Cap Growth Fund Class A (QASGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CMCIX achieves a 9.09% return, which is significantly lower than QASGX's 18.79% return.

CMCIX

• 1D: -0.34%
• 1M: 0.23%
• 6M: 6.01%
• YTD: 9.09%
• 1Y: 8.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.52%

QASGX

• 1D: 2.11%
• 1M: -2.68%
• 6M: 13.06%
• YTD: 18.79%
• 1Y: 34.94%
• 3Y*: 17.55%
• 5Y*: 8.14%
• 10Y*: 12.51%
• ALL TIME*: 9.47%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CMCIX Calvert Small/Mid-Cap Fund Class I	$0.00	$0.00	$0.00
QASGX Federated Hermes MDT Small Cap Growth Fund Class A	$0.00	$0.00	$0.00

CMCIX vs. QASGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CMCIX Calvert Small/Mid-Cap Fund Class I	9.09%	-5.28%	10.46%	7.81%
QASGX Federated Hermes MDT Small Cap Growth Fund Class A	18.79%	17.47%	15.32%	10.84%

Correlation

The correlation between CMCIX and QASGX is 0.18, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.18
Correlation (All Time) Calculated using the full available price history since Sep 19, 2023	0.48

Over the past year, the correlation between CMCIX and QASGX has dropped to 0.18 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.

Return for Risk

CMCIX vs. QASGX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CMCIX

CMCIX Risk / Return Rank: 9
CMCIX Sharpe Ratio Rank: 9
CMCIX Sortino Ratio Rank: 9
CMCIX Omega Ratio Rank: 8
CMCIX Calmar Ratio Rank: 9
CMCIX Martin Ratio Rank: 8

QASGX

QASGX Risk / Return Rank: 68
QASGX Sharpe Ratio Rank: 61
QASGX Sortino Ratio Rank: 65
QASGX Omega Ratio Rank: 64
QASGX Calmar Ratio Rank: 77
QASGX Martin Ratio Rank: 71

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CMCIX vs. QASGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Small/Mid-Cap Fund Class I (CMCIX) and Federated Hermes MDT Small Cap Growth Fund Class A (QASGX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CMCIX	QASGX	Difference
Sharpe ratio: Return per unit of total volatility	0.30	1.58	-1.28
Sortino ratio: Return per unit of downside risk	0.57	2.33	-1.76
Omega ratio: Gain probability vs. loss probability	1.06	1.30	-0.24
Calmar ratio: Return relative to maximum drawdown	0.40	2.58	-2.19
Martin ratio: Return relative to average drawdown	0.93	9.21	-8.28

CMCIX vs. QASGX - Sharpe Ratio Comparison

The current CMCIX Sharpe Ratio is 0.30, which is lower than the QASGX Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of CMCIX and QASGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CMCIX vs. QASGX - Drawdown Comparison

The maximum CMCIX drawdown since its inception was -21.50%, smaller than the maximum QASGX drawdown of -60.88%. Use the drawdown chart below to compare losses from any high point for CMCIX and QASGX.

Drawdown Indicators

	CMCIX	QASGX	Difference
Max Drawdown Largest peak-to-trough decline	-21.50%	-60.88%	+39.38%
Max Drawdown (1Y) Largest decline over 1 year	-11.68%	-13.27%	+1.59%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.33%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-38.71%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.30%	—
Current Drawdown Current decline from peak	-4.33%	-4.31%	-0.02%
Average Drawdown Average peak-to-trough decline	-6.42%	-14.08%	+7.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.00%	3.72%	+1.28%

Volatility

CMCIX vs. QASGX - Volatility Comparison

The current volatility for Calvert Small/Mid-Cap Fund Class I (CMCIX) is 3.96%, while Federated Hermes MDT Small Cap Growth Fund Class A (QASGX) has a volatility of 5.14%. This indicates that CMCIX experiences smaller price fluctuations and is considered to be less risky than QASGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMCIX	QASGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	5.14%	-1.18%
Volatility (6M) Calculated over the trailing 6-month period	10.74%	16.24%	-5.50%
Volatility (1Y) Calculated over the trailing 1-year period	15.40%	21.72%	-6.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.42%	24.61%	-8.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.42%	24.68%	-8.26%

CMCIX vs. QASGX - Expense Ratio Comparison

CMCIX has a 1.26% expense ratio, which is higher than QASGX's 1.14% expense ratio.

Dividends

CMCIX vs. QASGX - Dividend Comparison

CMCIX's dividend yield for the trailing twelve months is around 3.89%, more than QASGX's 3.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMCIX Calvert Small/Mid-Cap Fund Class I	3.89%	4.25%	7.13%	0.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QASGX Federated Hermes MDT Small Cap Growth Fund Class A	3.57%	4.24%	0.00%	0.00%	3.33%	31.38%	0.47%	0.00%	7.34%	5.29%	1.67%	19.08%

Frequently Asked Questions

Can I hold both CMCIX and QASGX in my portfolio?

CMCIX and QASGX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CMCIX or QASGX?

QASGX has higher volatility (5.14%) compared to CMCIX (3.96%). In terms of maximum drawdown, CMCIX dropped -21.50% vs QASGX's -60.88%.

Which has better risk-adjusted returns?

QASGX currently has the higher Sharpe Ratio (1.58 vs 0.30), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.