FGSIX vs. FGSAX

Last updated Jun 23, 2026

FGSIX (Federated MDT Mid Cap Growth Fund Institutional Shares) and FGSAX (Federated Hermes MDT Mid Cap Growth Fund) are both Mid Cap Growth Equities funds from Federated. Over the past 10 years, FGSIX returned 15.35%/yr vs 15.02%/yr for FGSAX. With a 1.00 correlation, they move nearly in lockstep. FGSIX charges 0.85%/yr vs 1.15%/yr for FGSAX.

Performance

FGSIX vs. FGSAX - Performance Comparison

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

Returns By Period

In the year-to-date period, FGSIX achieves a -0.18% return, which is significantly higher than FGSAX's -0.33% return. Both investments have delivered pretty close results over the past 10 years, with FGSIX having a 15.35% annualized return and FGSAX not far behind at 15.02%.

FGSIX

• 1D: 0.91%
• 1M: 0.37%
• YTD: -0.18%
• 6M: -1.07%
• 1Y: 3.64%
• 3Y*: 18.07%
• 5Y*: 10.04%
• 10Y*: 15.35%

FGSAX

• 1D: 0.90%
• 1M: 0.33%
• YTD: -0.33%
• 6M: -1.24%
• 1Y: 3.32%
• 3Y*: 17.71%
• 5Y*: 9.71%
• 10Y*: 15.02%

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

FGSIX vs. FGSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FGSIX Federated MDT Mid Cap Growth Fund Institutional Shares	-0.18%	10.87%	33.37%	27.44%	-24.39%	22.77%	35.86%	28.34%	-3.00%	24.70%
FGSAX Federated Hermes MDT Mid Cap Growth Fund	-0.33%	10.54%	32.97%	27.05%	-24.60%	22.39%	35.50%	27.95%	-3.23%	24.38%

Correlation

The correlation between FGSIX and FGSAX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jan 29, 2010	1.00

The correlation between FGSIX and FGSAX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

FGSIX vs. FGSAX — Risk / Return Rank

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

FGSIX

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

FGSAX

FGSAX Risk / Return Rank: 4
FGSAX Sharpe Ratio Rank: 4
FGSAX Sortino Ratio Rank: 4
FGSAX Omega Ratio Rank: 4
FGSAX Calmar Ratio Rank: 4
FGSAX 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.

FGSIX vs. FGSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated MDT Mid Cap Growth Fund Institutional Shares (FGSIX) and Federated Hermes MDT Mid Cap Growth Fund (FGSAX). 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.

	FGSIX	FGSAX	Difference
Sharpe ratio: Return per unit of total volatility	0.19	0.17	+0.02
Sortino ratio: Return per unit of downside risk	0.40	0.37	+0.03
Omega ratio: Gain probability vs. loss probability	1.05	1.05	0.00
Calmar ratio: Return relative to maximum drawdown	0.24	0.21	+0.03
Martin ratio: Return relative to average drawdown	0.68	0.58	+0.10

FGSIX vs. FGSAX - Sharpe Ratio Comparison

The current FGSIX Sharpe Ratio is 0.19, which is comparable to the FGSAX Sharpe Ratio of 0.17. The chart below compares the historical Sharpe Ratios of FGSIX and FGSAX, 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

FGSIX vs. FGSAX - Drawdown Comparison

The maximum FGSIX drawdown since its inception was -37.16%, smaller than the maximum FGSAX drawdown of -66.17%. Use the drawdown chart below to compare losses from any high point for FGSIX and FGSAX.

Drawdown Indicators

	FGSIX	FGSAX	Difference
Max Drawdown Largest peak-to-trough decline	-37.16%	-66.17%	+29.01%
Max Drawdown (1Y) Largest decline over 1 year	-13.36%	-13.73%	+0.37%
Max Drawdown (3Y) Largest decline over 3 years	-24.46%	-24.51%	+0.05%
Max Drawdown (5Y) Largest decline over 5 years	-35.67%	-35.79%	+0.12%
Max Drawdown (10Y) Largest decline over 10 years	-37.16%	-37.19%	+0.03%
Current Drawdown Current decline from peak	-4.46%	-4.95%	+0.49%
Average Drawdown Average peak-to-trough decline	-7.06%	-16.13%	+9.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.79%	5.04%	-0.25%

Volatility

FGSIX vs. FGSAX - Volatility Comparison

Federated MDT Mid Cap Growth Fund Institutional Shares (FGSIX) and Federated Hermes MDT Mid Cap Growth Fund (FGSAX) have volatilities of 5.54% and 5.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGSIX	FGSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.54%	5.53%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	13.24%	13.24%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	17.24%	17.39%	-0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.48%	22.48%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.33%	22.35%	-0.02%

FGSIX vs. FGSAX - Expense Ratio Comparison

FGSIX has a 0.85% expense ratio, which is lower than FGSAX's 1.15% expense ratio.

Dividends

FGSIX vs. FGSAX - Dividend Comparison

FGSIX's dividend yield for the trailing twelve months is around 4.57%, less than FGSAX's 4.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGSAX Federated Hermes MDT Mid Cap Growth Fund	4.94%	4.92%	4.32%	0.00%	2.31%	25.75%	7.07%	8.13%	14.46%	13.93%	0.89%	25.34%
FGSIX Federated MDT Mid Cap Growth Fund Institutional Shares	4.57%	4.56%	4.02%	0.00%	2.17%	24.31%	6.77%	7.83%	14.02%	13.59%	1.11%	24.86%

Frequently Asked Questions

Can I hold both FGSIX and FGSAX in my portfolio?

With a correlation of 1.00, FGSIX and FGSAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FGSIX or FGSAX?

FGSIX has higher volatility (5.54%) compared to FGSAX (5.53%). In terms of maximum drawdown, FGSIX dropped -37.16% vs FGSAX's -66.17%.

Which has better risk-adjusted returns?

FGSIX currently has the higher Sharpe Ratio (0.19 vs 0.17), 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.