EMDIX vs. FGSKX

Last updated Jun 23, 2026

EMDIX (Federated Hermes Emerging Market Debt Fund Institutional Shares) and FGSKX (Federated Hermes MDT Mid Cap Growth Fund Class R6) are both mutual funds - EMDIX is a Emerging Markets Bonds fund tracking the J.P. Morgan Emerging Markets Bond Index Global Diversified, while FGSKX is a Mid Cap Growth Equities fund actively managed by Federated Hermes. EMDIX is passively managed, while FGSKX is actively managed. Over the past 10 years, EMDIX returned 4.63%/yr vs 15.33%/yr for FGSKX. At a 0.32 correlation, their price movements are largely independent. EMDIX charges 0.94%/yr vs 0.84%/yr for FGSKX.

Performance

EMDIX vs. FGSKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Emerging Market Debt Fund Institutional Shares (EMDIX) and Federated Hermes MDT Mid Cap Growth Fund Class R6 (FGSKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMDIX achieves a 3.39% return, which is significantly higher than FGSKX's -0.18% return. Over the past 10 years, EMDIX has underperformed FGSKX with an annualized return of 4.63%, while FGSKX has yielded a comparatively higher 15.33% annualized return.

EMDIX

• 1D: -0.22%
• 1M: 1.98%
• YTD: 3.39%
• 6M: 3.97%
• 1Y: 15.09%
• 3Y*: 12.29%
• 5Y*: 3.77%
• 10Y*: 4.63%

FGSKX

• 1D: 0.91%
• 1M: 0.38%
• YTD: -0.18%
• 6M: -1.07%
• 1Y: 3.66%
• 3Y*: 18.08%
• 5Y*: 10.04%
• 10Y*: 15.33%

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

EMDIX vs. FGSKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMDIX Federated Hermes Emerging Market Debt Fund Institutional Shares	3.39%	17.32%	6.31%	14.65%	-16.00%	-3.01%	5.92%	13.28%	-5.04%	15.06%
FGSKX Federated Hermes MDT Mid Cap Growth Fund Class R6	-0.18%	10.90%	33.36%	27.45%	-24.38%	22.74%	35.92%	28.35%	-3.00%	24.68%

Correlation

The correlation between EMDIX and FGSKX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Mar 30, 2012	0.32

Return for Risk

EMDIX vs. FGSKX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EMDIX

EMDIX Risk / Return Rank: 80
EMDIX Sharpe Ratio Rank: 93
EMDIX Sortino Ratio Rank: 94
EMDIX Omega Ratio Rank: 90
EMDIX Calmar Ratio Rank: 60
EMDIX Martin Ratio Rank: 62

FGSKX

FGSKX Risk / Return Rank: 4
FGSKX Sharpe Ratio Rank: 4
FGSKX Sortino Ratio Rank: 4
FGSKX Omega Ratio Rank: 4
FGSKX Calmar Ratio Rank: 4
FGSKX Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EMDIX vs. FGSKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Emerging Market Debt Fund Institutional Shares (EMDIX) and Federated Hermes MDT Mid Cap Growth Fund Class R6 (FGSKX). 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.

	EMDIX	FGSKX	Difference
Sharpe ratio: Return per unit of total volatility	2.93	0.19	+2.74
Sortino ratio: Return per unit of downside risk	4.53	0.40	+4.13
Omega ratio: Gain probability vs. loss probability	1.62	1.05	+0.57
Calmar ratio: Return relative to maximum drawdown	2.84	0.23	+2.61
Martin ratio: Return relative to average drawdown	11.53	0.62	+10.91

EMDIX vs. FGSKX - Sharpe Ratio Comparison

The current EMDIX Sharpe Ratio is 2.93, which is higher than the FGSKX Sharpe Ratio of 0.19. The chart below compares the historical Sharpe Ratios of EMDIX and FGSKX, 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

EMDIX vs. FGSKX - Drawdown Comparison

The maximum EMDIX drawdown since its inception was -27.01%, smaller than the maximum FGSKX drawdown of -55.05%. Use the drawdown chart below to compare losses from any high point for EMDIX and FGSKX.

Drawdown Indicators

	EMDIX	FGSKX	Difference
Max Drawdown Largest peak-to-trough decline	-27.01%	-55.05%	+28.04%
Max Drawdown (1Y) Largest decline over 1 year	-5.72%	-14.01%	+8.29%
Max Drawdown (3Y) Largest decline over 3 years	-6.35%	-24.47%	+18.12%
Max Drawdown (5Y) Largest decline over 5 years	-27.01%	-35.68%	+8.67%
Max Drawdown (10Y) Largest decline over 10 years	-27.01%	-37.16%	+10.15%
Current Drawdown Current decline from peak	-0.54%	-5.18%	+4.64%
Average Drawdown Average peak-to-trough decline	-5.65%	-10.84%	+5.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.36%	5.23%	-3.87%

Volatility

EMDIX vs. FGSKX - Volatility Comparison

The current volatility for Federated Hermes Emerging Market Debt Fund Institutional Shares (EMDIX) is 1.48%, while Federated Hermes MDT Mid Cap Growth Fund Class R6 (FGSKX) has a volatility of 5.52%. This indicates that EMDIX experiences smaller price fluctuations and is considered to be less risky than FGSKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMDIX	FGSKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.48%	5.52%	-4.04%
Volatility (6M) Calculated over the trailing 6-month period	4.73%	13.24%	-8.51%
Volatility (1Y) Calculated over the trailing 1-year period	5.56%	17.55%	-11.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.37%	22.50%	-16.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.60%	22.41%	-15.81%

EMDIX vs. FGSKX - Expense Ratio Comparison

EMDIX has a 0.94% expense ratio, which is higher than FGSKX's 0.84% expense ratio.

Dividends

EMDIX vs. FGSKX - Dividend Comparison

EMDIX's dividend yield for the trailing twelve months is around 2.44%, less than FGSKX's 5.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMDIX Federated Hermes Emerging Market Debt Fund Institutional Shares	2.44%	0.29%	2.83%	3.13%	5.61%	2.17%	3.71%	2.08%	4.25%	7.78%	3.38%	4.17%
FGSKX Federated Hermes MDT Mid Cap Growth Fund Class R6	5.38%	5.37%	4.70%	0.00%	2.52%	28.15%	7.60%	8.72%	15.47%	14.82%	0.89%	26.74%

Frequently Asked Questions

Can I hold both EMDIX and FGSKX in my portfolio?

EMDIX and FGSKX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMDIX or FGSKX?

FGSKX has higher volatility (5.52%) compared to EMDIX (1.48%). In terms of maximum drawdown, EMDIX dropped -27.01% vs FGSKX's -55.05%.

Which has better risk-adjusted returns?

EMDIX currently has the higher Sharpe Ratio (2.93 vs 0.19), 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.