FGSAX vs. QQMNX
FGSAX (Federated Hermes MDT Mid Cap Growth Fund) and QQMNX (Federated Hermes MDT Market Neutral Fund Institutional Shares) are both mutual funds - FGSAX is a Mid Cap Growth Equities fund managed by Federated, while QQMNX is a Equity Market Neutral fund actively managed by Federated. Over the past 3 years, FGSAX returned 15.56%/yr vs 12.41%/yr for QQMNX. Their 0.12 correlation means their historical movements had little consistent relationship. FGSAX charges 1.15%/yr vs 1.86%/yr for QQMNX.
Performance
FGSAX vs. QQMNX - Performance Comparison
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Returns By Period
In the year-to-date period, FGSAX achieves a -0.99% return, which is significantly lower than QQMNX's 5.05% return.
FGSAX
- 1D
- -0.17%
- 1M
- -1.70%
- 6M
- 0.22%
- YTD
- -0.99%
- 1Y
- -2.07%
- 3Y*
- 15.56%
- 5Y*
- 7.83%
- 10Y*
- 14.70%
- ALL TIME*
- 10.02%
QQMNX
- 1D
- 0.30%
- 1M
- 4.01%
- 6M
- 4.96%
- YTD
- 5.05%
- 1Y
- 9.37%
- 3Y*
- 12.41%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.34%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FGSAX vs. QQMNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FGSAX Federated Hermes MDT Mid Cap Growth Fund | -0.99% | 10.54% | 32.97% | 27.05% | -24.60% | 2.25% |
QQMNX Federated Hermes MDT Market Neutral Fund Institutional Shares | 5.05% | 10.27% | 17.59% | 4.96% | 9.47% | 12.38% |
Correlation
The correlation between FGSAX and QQMNX is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.06 |
Correlation (3Y) Balances recent behavior with more history. | 0.15 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021 | 0.12 |
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Return for Risk
FGSAX vs. QQMNX — Risk / Return Rank
FGSAX
QQMNX
FGSAX vs. QQMNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Mid Cap Growth Fund (FGSAX) and Federated Hermes MDT Market Neutral Fund Institutional Shares (QQMNX). 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 | QQMNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.46 | ||
| Sortino ratioReturn per unit of downside risk | -2.06 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.27 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 2.06 | -2.23 |
| Martin ratioReturn relative to average drawdown | -0.43 | 4.79 | -5.23 |
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Drawdowns
FGSAX vs. QQMNX - Drawdown Comparison
The maximum FGSAX drawdown since its inception was -66.17%, which is greater than QQMNX's maximum drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for FGSAX and QQMNX.
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Drawdown Indicators
| FGSAX | QQMNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.17% | -17.50% | -48.67% |
Max Drawdown (1Y)Largest decline over 1 year | -13.73% | -4.37% | -9.36% |
Max Drawdown (3Y)Largest decline over 3 years | -24.51% | -4.37% | -20.14% |
Max Drawdown (5Y)Largest decline over 5 years | -35.79% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -37.19% | — | — |
Current DrawdownCurrent decline from peak | -5.58% | 0.00% | -5.58% |
Average DrawdownAverage peak-to-trough decline | -16.10% | -4.73% | -11.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.34% | 1.87% | +3.47% |
Volatility
FGSAX vs. QQMNX - Volatility Comparison
Federated Hermes MDT Mid Cap Growth Fund (FGSAX) has a higher volatility of 4.94% compared to Federated Hermes MDT Market Neutral Fund Institutional Shares (QQMNX) at 1.51%. This indicates that FGSAX's price experiences larger fluctuations and is considered to be riskier than QQMNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FGSAX | QQMNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 1.51% | +3.43% |
Volatility (6M)Calculated over the trailing 6-month period | 13.45% | 4.46% | +8.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.80% | 6.79% | +11.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.53% | 13.36% | +9.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.29% | 13.36% | +8.93% |
FGSAX vs. QQMNX - Expense Ratio Comparison
FGSAX has a 1.15% expense ratio, which is lower than QQMNX's 1.86% expense ratio.
Dividends
FGSAX vs. QQMNX - Dividend Comparison
FGSAX's dividend yield for the trailing twelve months is around 4.97%, more than QQMNX's 1.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FGSAX Federated Hermes MDT Mid Cap Growth Fund | 4.97% | 4.92% | 4.32% | 0.00% | 2.31% | 25.75% | 7.07% | 8.13% | 14.46% | 13.93% | 0.89% | 25.34% |
QQMNX Federated Hermes MDT Market Neutral Fund Institutional Shares | 1.66% | 1.74% | 1.86% | 5.94% | 11.53% | 20.33% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FGSAX and QQMNX have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FGSAX has higher volatility (4.94%) compared to QQMNX (1.51%). In terms of maximum drawdown, FGSAX dropped -66.17% vs QQMNX's -17.50%.
QQMNX currently has the higher Sharpe Ratio (1.33 vs -0.13), 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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