FGSAX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Federated Hermes MDT Mid Cap Growth Fund (FGSAX) and S&P 500 Index (^GSPC).

FGSAX is managed by Federated. It was launched on Aug 23, 1984.

Performance

FGSAX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Mid Cap Growth Fund (FGSAX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

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	-6.56%	10.54%	32.97%	27.05%	-24.60%	22.39%	35.50%	27.95%	-3.23%	24.38%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, FGSAX achieves a -6.56% return, which is significantly lower than ^GSPC's -3.95% return. Over the past 10 years, FGSAX has outperformed ^GSPC with an annualized return of 13.87%, while ^GSPC has yielded a comparatively lower 12.24% annualized return.

FGSAX

• 1D: 3.29%
• 1M: -5.16%
• YTD: -6.56%
• 6M: -8.51%
• 1Y: 11.71%
• 3Y*: 16.75%
• 5Y*: 9.60%
• 10Y*: 13.87%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

FGSAX vs. ^GSPC — Risk / Return Rank

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

FGSAX

FGSAX Risk / Return Rank: 20
FGSAX Sharpe Ratio Rank: 20
FGSAX Sortino Ratio Rank: 22
FGSAX Omega Ratio Rank: 23
FGSAX Calmar Ratio Rank: 20
FGSAX Martin Ratio Rank: 18

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

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.

	FGSAX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.57	0.92	-0.34
Sortino ratio Return per unit of downside risk	0.97	1.41	-0.44
Omega ratio Gain probability vs. loss probability	1.14	1.21	-0.07
Calmar ratio Return relative to maximum drawdown	0.65	1.41	-0.76
Martin ratio Return relative to average drawdown	2.04	6.61	-4.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FGSAX vs. ^GSPC - Sharpe Ratio Comparison

The current FGSAX Sharpe Ratio is 0.57, which is lower than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of FGSAX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FGSAX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.57	0.92	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.61	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.68	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.46	+0.02

Correlation

The correlation between FGSAX and ^GSPC is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

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.

Drawdown Indicators

	FGSAX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-66.17%	-56.78%	-9.39%
Max Drawdown (1Y) Largest decline over 1 year	-13.73%	-12.14%	-1.59%
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 Drawdown Current decline from peak	-10.89%	-5.78%	-5.11%
Average Drawdown Average peak-to-trough decline	-16.19%	-10.75%	-5.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.41%	2.60%	+1.81%

Volatility

FGSAX vs. ^GSPC - Volatility Comparison

Federated Hermes MDT Mid Cap Growth Fund (FGSAX) has a higher volatility of 6.50% compared to S&P 500 Index (^GSPC) at 5.37%. 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.

Volatility by Period

	FGSAX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.50%	5.37%	+1.13%
Volatility (6M) Calculated over the trailing 6-month period	14.19%	9.55%	+4.64%
Volatility (1Y) Calculated over the trailing 1-year period	20.64%	18.33%	+2.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.43%	16.90%	+5.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.32%	18.05%	+4.27%