FISPX vs. PBQAX

Last updated Jun 24, 2026

FISPX (Federated Hermes Max Cap Index Fund) and PBQAX (PGIM Jennison Blend Fund) are both mutual funds - FISPX is a Large Cap Blend Equities fund managed by Federated, while PBQAX is a Large Cap Growth Equities fund managed by PGIM. Over the past 10 years, FISPX returned 15.46%/yr vs 16.31%/yr for PBQAX. Their correlation of 0.92 suggests significant overlap in exposure. FISPX charges 0.37%/yr vs 0.94%/yr for PBQAX.

Performance

FISPX vs. PBQAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Max Cap Index Fund (FISPX) and PGIM Jennison Blend Fund (PBQAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FISPX achieves a 9.68% return, which is significantly lower than PBQAX's 13.12% return. Over the past 10 years, FISPX has underperformed PBQAX with an annualized return of 15.46%, while PBQAX has yielded a comparatively higher 16.31% annualized return.

FISPX

• 1D: -0.43%
• 1M: 0.06%
• YTD: 9.68%
• 6M: 8.66%
• 1Y: 25.31%
• 3Y*: 21.15%
• 5Y*: 13.24%
• 10Y*: 15.46%

PBQAX

• 1D: 0.04%
• 1M: 2.68%
• YTD: 13.12%
• 6M: 11.58%
• 1Y: 27.32%
• 3Y*: 25.97%
• 5Y*: 12.74%
• 10Y*: 16.31%

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

FISPX vs. PBQAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FISPX Federated Hermes Max Cap Index Fund	9.68%	17.57%	24.47%	26.27%	-18.87%	28.57%	18.27%	30.73%	-4.68%	21.61%
PBQAX PGIM Jennison Blend Fund	13.12%	12.23%	39.83%	27.48%	-24.86%	20.82%	27.11%	37.21%	-7.83%	21.58%

Correlation

The correlation between FISPX and PBQAX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jul 2, 1990	0.92

The correlation between FISPX and PBQAX has been stable across timeframes, ranging from 0.84 to 0.93 - a consistent structural relationship.

Return for Risk

FISPX vs. PBQAX — Risk / Return Rank

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

FISPX

FISPX Risk / Return Rank: 76
FISPX Sharpe Ratio Rank: 77
FISPX Sortino Ratio Rank: 71
FISPX Omega Ratio Rank: 69
FISPX Calmar Ratio Rank: 78
FISPX Martin Ratio Rank: 84

PBQAX

PBQAX Risk / Return Rank: 60
PBQAX Sharpe Ratio Rank: 53
PBQAX Sortino Ratio Rank: 51
PBQAX Omega Ratio Rank: 50
PBQAX Calmar Ratio Rank: 69
PBQAX Martin Ratio Rank: 79

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.

FISPX vs. PBQAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Max Cap Index Fund (FISPX) and PGIM Jennison Blend Fund (PBQAX). 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.

	FISPX	PBQAX	Difference
Sharpe ratio: Return per unit of total volatility	2.36	1.99	+0.38
Sortino ratio: Return per unit of downside risk	3.21	2.77	+0.44
Omega ratio: Gain probability vs. loss probability	1.42	1.36	+0.07
Calmar ratio: Return relative to maximum drawdown	3.34	3.07	+0.27
Martin ratio: Return relative to average drawdown	14.55	13.72	+0.83

FISPX vs. PBQAX - Sharpe Ratio Comparison

The current FISPX Sharpe Ratio is 2.36, which is comparable to the PBQAX Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of FISPX and PBQAX, 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

FISPX vs. PBQAX - Drawdown Comparison

The maximum FISPX drawdown since its inception was -54.64%, roughly equal to the maximum PBQAX drawdown of -53.89%. Use the drawdown chart below to compare losses from any high point for FISPX and PBQAX.

Drawdown Indicators

	FISPX	PBQAX	Difference
Max Drawdown Largest peak-to-trough decline	-54.64%	-53.89%	-0.75%
Max Drawdown (1Y) Largest decline over 1 year	-8.77%	-9.44%	+0.67%
Max Drawdown (3Y) Largest decline over 3 years	-24.78%	-21.80%	-2.98%
Max Drawdown (5Y) Largest decline over 5 years	-25.02%	-32.22%	+7.20%
Max Drawdown (10Y) Largest decline over 10 years	-33.80%	-36.90%	+3.10%
Current Drawdown Current decline from peak	-1.83%	-0.32%	-1.51%
Average Drawdown Average peak-to-trough decline	-8.97%	-8.42%	-0.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	2.11%	-0.17%

Volatility

FISPX vs. PBQAX - Volatility Comparison

The current volatility for Federated Hermes Max Cap Index Fund (FISPX) is 4.66%, while PGIM Jennison Blend Fund (PBQAX) has a volatility of 5.25%. This indicates that FISPX experiences smaller price fluctuations and is considered to be less risky than PBQAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FISPX	PBQAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.66%	5.25%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	9.98%	11.49%	-1.51%
Volatility (1Y) Calculated over the trailing 1-year period	12.42%	14.58%	-2.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.25%	20.31%	+0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.23%	20.51%	-0.28%

FISPX vs. PBQAX - Expense Ratio Comparison

FISPX has a 0.37% expense ratio, which is lower than PBQAX's 0.94% expense ratio.

Dividends

FISPX vs. PBQAX - Dividend Comparison

FISPX's dividend yield for the trailing twelve months is around 7.33%, less than PBQAX's 8.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FISPX Federated Hermes Max Cap Index Fund	7.33%	8.03%	12.57%	22.88%	16.35%	16.48%	23.53%	15.79%	47.85%	25.80%	18.45%	14.91%
PBQAX PGIM Jennison Blend Fund	8.82%	9.97%	26.50%	3.03%	1.93%	19.07%	7.79%	13.20%	12.89%	9.28%	6.82%	11.69%

Frequently Asked Questions

Can I hold both FISPX and PBQAX in my portfolio?

FISPX and PBQAX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FISPX or PBQAX?

PBQAX has higher volatility (5.25%) compared to FISPX (4.66%). In terms of maximum drawdown, FISPX dropped -54.64% vs PBQAX's -53.89%.

Which has better risk-adjusted returns?

FISPX currently has the higher Sharpe Ratio (2.36 vs 1.99), 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.