FGSIX vs. RIPIX

Last updated Jun 25, 2026

FGSIX (Federated MDT Mid Cap Growth Fund Institutional Shares) and RIPIX (Royce International Premier Fund Institutional Class) are both Mid Cap Growth Equities funds. Over the past 5 years, FGSIX returned 9.31%/yr vs -4.52%/yr for RIPIX. A 0.59 correlation means they provide meaningful diversification when combined. FGSIX charges 0.85%/yr vs 1.04%/yr for RIPIX.

Performance

FGSIX vs. RIPIX - 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 Royce International Premier Fund Institutional Class (RIPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FGSIX having a -0.99% return and RIPIX slightly higher at -0.96%.

FGSIX

• 1D: -1.23%
• 1M: -0.44%
• YTD: -0.99%
• 6M: -1.69%
• 1Y: 1.85%
• 3Y*: 18.55%
• 5Y*: 9.31%
• 10Y*: 15.69%

RIPIX

• 1D: -1.04%
• 1M: -4.39%
• YTD: -0.96%
• 6M: -1.19%
• 1Y: -4.68%
• 3Y*: 1.63%
• 5Y*: -4.52%
• 10Y*: —

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

FGSIX vs. RIPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FGSIX Federated MDT Mid Cap Growth Fund Institutional Shares	-0.99%	10.87%	33.37%	27.44%	-24.39%	22.77%	35.86%	28.34%	-10.32%
RIPIX Royce International Premier Fund Institutional Class	-0.96%	9.89%	-7.04%	8.14%	-26.99%	6.22%	16.11%	34.69%	-12.52%

Correlation

The correlation between FGSIX and RIPIX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (All Time) Calculated using the full available price history since May 18, 2018	0.59

Over the past year, the correlation between FGSIX and RIPIX has dropped to 0.37 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.

Return for Risk

FGSIX vs. RIPIX — 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

RIPIX

RIPIX Risk / Return Rank: 2
RIPIX Sharpe Ratio Rank: 2
RIPIX Sortino Ratio Rank: 2
RIPIX Omega Ratio Rank: 2
RIPIX Calmar Ratio Rank: 2
RIPIX Martin Ratio Rank: 2

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. RIPIX - 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 Royce International Premier Fund Institutional Class (RIPIX). 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	RIPIX	Difference
Sharpe ratio: Return per unit of total volatility	0.11	-0.27	+0.38
Sortino ratio: Return per unit of downside risk	0.28	-0.29	+0.57
Omega ratio: Gain probability vs. loss probability	1.04	0.97	+0.07
Calmar ratio: Return relative to maximum drawdown	0.14	-0.22	+0.36
Martin ratio: Return relative to average drawdown	0.39	-0.52	+0.91

FGSIX vs. RIPIX - Sharpe Ratio Comparison

The current FGSIX Sharpe Ratio is 0.11, which is higher than the RIPIX Sharpe Ratio of -0.27. The chart below compares the historical Sharpe Ratios of FGSIX and RIPIX, 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. RIPIX - Drawdown Comparison

The maximum FGSIX drawdown since its inception was -37.16%, smaller than the maximum RIPIX drawdown of -41.89%. Use the drawdown chart below to compare losses from any high point for FGSIX and RIPIX.

Drawdown Indicators

	FGSIX	RIPIX	Difference
Max Drawdown Largest peak-to-trough decline	-37.16%	-41.89%	+4.73%
Max Drawdown (1Y) Largest decline over 1 year	-13.36%	-16.38%	+3.02%
Max Drawdown (3Y) Largest decline over 3 years	-24.46%	-17.28%	-7.18%
Max Drawdown (5Y) Largest decline over 5 years	-35.67%	-41.89%	+6.22%
Max Drawdown (10Y) Largest decline over 10 years	-37.16%	—	—
Current Drawdown Current decline from peak	-5.23%	-27.00%	+21.77%
Average Drawdown Average peak-to-trough decline	-7.06%	-18.05%	+10.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.80%	6.85%	-2.05%

Volatility

FGSIX vs. RIPIX - Volatility Comparison

Federated MDT Mid Cap Growth Fund Institutional Shares (FGSIX) has a higher volatility of 5.58% compared to Royce International Premier Fund Institutional Class (RIPIX) at 4.15%. This indicates that FGSIX's price experiences larger fluctuations and is considered to be riskier than RIPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGSIX	RIPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.58%	4.15%	+1.43%
Volatility (6M) Calculated over the trailing 6-month period	13.30%	11.14%	+2.16%
Volatility (1Y) Calculated over the trailing 1-year period	17.27%	13.32%	+3.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.49%	15.47%	+7.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.29%	16.15%	+6.14%

FGSIX vs. RIPIX - Expense Ratio Comparison

FGSIX has a 0.85% expense ratio, which is lower than RIPIX's 1.04% expense ratio.

Dividends

FGSIX vs. RIPIX - Dividend Comparison

FGSIX's dividend yield for the trailing twelve months is around 4.60%, more than RIPIX's 1.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGSIX Federated MDT Mid Cap Growth Fund Institutional Shares	4.60%	4.56%	4.02%	0.00%	2.17%	24.31%	6.77%	7.83%	14.02%	13.59%	1.11%	24.86%
RIPIX Royce International Premier Fund Institutional Class	1.47%	1.46%	5.66%	3.09%	3.87%	5.02%	0.36%	0.58%	0.54%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FGSIX and RIPIX in my portfolio?

FGSIX and RIPIX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FGSIX or RIPIX?

FGSIX has higher volatility (5.58%) compared to RIPIX (4.15%). In terms of maximum drawdown, FGSIX dropped -37.16% vs RIPIX's -41.89%.

Which has better risk-adjusted returns?

FGSIX currently has the higher Sharpe Ratio (0.11 vs -0.27), 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.