FLCG vs. MKTN

Last updated Aug 2, 2026

FLCG (Federated Hermes MDT Large Cap Growth ETF) and MKTN (Federated Hermes MDT Market Neutral ETF) are both exchange-traded funds - FLCG is a Large Cap Growth Equities fund actively managed by Federated, while MKTN is a Equity Market Neutral fund actively managed by Federated. Both are actively managed. Their 0.12 correlation means their historical movements had little consistent relationship. FLCG charges 0.39%/yr vs 1.94%/yr for MKTN.

Performance

FLCG vs. MKTN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Large Cap Growth ETF (FLCG) and Federated Hermes MDT Market Neutral ETF (MKTN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLCG achieves a 2.09% return, which is significantly lower than MKTN's 6.46% return.

FLCG

• 1D: 0.93%
• 1M: 0.21%
• 6M: 4.34%
• YTD: 2.09%
• 1Y: 10.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.18%

MKTN

• 1D: 0.33%
• 1M: 4.57%
• 6M: 7.01%
• YTD: 6.46%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLCG Federated Hermes MDT Large Cap Growth ETF	$2.20M	$2.46M	$2.52M
MKTN Federated Hermes MDT Market Neutral ETF	$666.28K	$482.62K	$621.59K

FLCG vs. MKTN - Yearly Performance Comparison

	2026 (YTD)	2025
FLCG Federated Hermes MDT Large Cap Growth ETF	2.09%	2.09%
MKTN Federated Hermes MDT Market Neutral ETF	6.46%	3.22%

Correlation

The correlation between FLCG and MKTN is 0.12, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 25, 2025	0.12

Return for Risk

FLCG vs. MKTN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FLCG

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

MKTN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FLCG vs. MKTN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Large Cap Growth ETF (FLCG) and Federated Hermes MDT Market Neutral ETF (MKTN). 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.

	FLCG	MKTN	Difference
Sharpe ratio: Return per unit of total volatility	0.48	—	—
Sortino ratio: Return per unit of downside risk	0.77	—	—
Omega ratio: Gain probability vs. loss probability	1.09	—	—
Calmar ratio: Return relative to maximum drawdown	0.54	—	—
Martin ratio: Return relative to average drawdown	1.65	—	—

Drawdowns

FLCG vs. MKTN - Drawdown Comparison

The maximum FLCG drawdown since its inception was -22.95%, which is greater than MKTN's maximum drawdown of -4.13%. Use the drawdown chart below to compare losses from any high point for FLCG and MKTN.

Drawdown Indicators

	FLCG	MKTN	Difference
Max Drawdown Largest peak-to-trough decline	-22.95%	-4.13%	-18.82%
Max Drawdown (1Y) Largest decline over 1 year	-15.07%	—	—
Current Drawdown Current decline from peak	-4.42%	0.00%	-4.42%
Average Drawdown Average peak-to-trough decline	-3.75%	-1.08%	-2.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.91%	—	—

Volatility

Volatility by Period

	FLCG	MKTN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.39%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.16%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.75%	6.65%	+10.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.99%	6.65%	+14.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.99%	6.65%	+14.34%

FLCG vs. MKTN - Expense Ratio Comparison

FLCG has a 0.39% expense ratio, which is lower than MKTN's 1.94% expense ratio.

Dividends

FLCG vs. MKTN - Dividend Comparison

FLCG's dividend yield for the trailing twelve months is around 0.05%, less than MKTN's 0.48% yield.

Position	TTM	2025	2024
FLCG Federated Hermes MDT Large Cap Growth ETF	0.05%	0.05%	0.06%
MKTN Federated Hermes MDT Market Neutral ETF	0.48%	0.51%	0.00%

Frequently Asked Questions

Can I hold both FLCG and MKTN in my portfolio?

FLCG and MKTN have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FLCG or MKTN?

On fees, FLCG is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLCG or MKTN?

FLCG is cheaper with a 0.39% expense ratio, compared with 1.94% for MKTN.

Which ETF pays a higher dividend yield, FLCG or MKTN?

MKTN has the higher dividend yield at 0.48%, compared with 0.05% for FLCG.

What is the main difference between FLCG and MKTN?

FLCG is categorized as Large Cap Growth Equities, while MKTN is Equity Market Neutral. Their fees differ too: 0.39% for FLCG and 1.94% for MKTN.