FGSAX vs. ^GSPC
FGSAX (Federated Hermes MDT Mid Cap Growth Fund) is Mid Cap Growth Equities fund managed by Federated, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, FGSAX returned 14.50%/yr vs 13.26%/yr for ^GSPC. Their correlation of 0.84 means they have usually moved in the same direction.
Performance
FGSAX vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, FGSAX achieves a -0.82% return, which is significantly lower than ^GSPC's 9.41% return. Over the past 10 years, FGSAX has outperformed ^GSPC with an annualized return of 14.50%, while ^GSPC has yielded a comparatively lower 13.26% annualized return.
FGSAX
- 1D
- 2.55%
- 1M
- -1.53%
- 6M
- 0.10%
- YTD
- -0.82%
- 1Y
- -1.90%
- 3Y*
- 15.49%
- 5Y*
- 7.87%
- 10Y*
- 14.50%
- ALL TIME*
- 10.02%
^GSPC
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^GSPC S&P 500 Index | $37.98T | $37.61T | $41.48T |
| $0.00 | $0.00 | $0.00 |
FGSAX vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FGSAX Federated Hermes MDT Mid Cap Growth Fund | -0.82% | 10.54% | 32.97% | 27.05% | -24.60% | 22.39% | 35.50% | 27.95% | -3.23% | 24.38% |
^GSPC S&P 500 Index | 9.41% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
Correlation
The correlation between FGSAX and ^GSPC is 0.36, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.36 |
Correlation (3Y) Balances recent behavior with more history. | 0.54 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.72 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 1984 | 0.84 |
Over the past year, the correlation between FGSAX and ^GSPC has dropped to 0.36 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.
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Return for Risk
FGSAX vs. ^GSPC — Risk / Return Rank
FGSAX
^GSPC
FGSAX vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Mid Cap Growth Fund (FGSAX) and S&P 500 Index (^GSPC). 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.
| FGSAX | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.49 | ||
| Sortino ratioReturn per unit of downside risk | -1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.25 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.10 | 2.00 | -2.10 |
| Martin ratioReturn relative to average drawdown | -0.25 | 8.49 | -8.74 |
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Drawdowns
FGSAX vs. ^GSPC - Drawdown Comparison
The maximum FGSAX drawdown since its inception was -66.17%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for FGSAX and ^GSPC.
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Drawdown Indicators
| FGSAX | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.17% | -56.78% | -9.39% |
Max Drawdown (1Y)Largest decline over 1 year | -13.73% | -9.10% | -4.63% |
Max Drawdown (3Y)Largest decline over 3 years | -24.51% | -18.90% | -5.61% |
Max Drawdown (5Y)Largest decline over 5 years | -35.79% | -25.43% | -10.36% |
Max Drawdown (10Y)Largest decline over 10 years | -37.19% | -33.92% | -3.27% |
Current DrawdownCurrent decline from peak | -5.42% | -1.58% | -3.84% |
Average DrawdownAverage peak-to-trough decline | -16.10% | -10.70% | -5.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.33% | 2.14% | +3.19% |
Volatility
FGSAX vs. ^GSPC - Volatility Comparison
Federated Hermes MDT Mid Cap Growth Fund (FGSAX) has a higher volatility of 4.96% compared to S&P 500 Index (^GSPC) at 3.51%. This indicates that FGSAX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FGSAX | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.96% | 3.51% | +1.45% |
Volatility (6M)Calculated over the trailing 6-month period | 13.47% | 10.11% | +3.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.81% | 12.87% | +4.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.54% | 17.01% | +5.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.29% | 18.07% | +4.22% |
Frequently Asked Questions
FGSAX and ^GSPC have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FGSAX has higher volatility (4.96%) compared to ^GSPC (3.51%). In terms of maximum drawdown, FGSAX dropped -66.17% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.42 vs -0.07), 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.
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