FLCV vs. MKTN

Last updated Jun 24, 2026

FLCV (Federated Hermes MDT Large Cap Value ETF) and MKTN (Federated Hermes MDT Market Neutral ETF) are both exchange-traded funds - FLCV is a Large Cap Value Equities fund actively managed by Federated Hermes, while MKTN is a Long-Short fund actively managed by Federated Hermes. Both are actively managed. At a 0.07 correlation, their price movements are largely independent.

Performance

FLCV vs. MKTN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Large Cap Value ETF (FLCV) 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, FLCV achieves a 13.41% return, which is significantly higher than MKTN's 0.14% return.

FLCV

• 1D: -0.97%
• 1M: 1.98%
• YTD: 13.41%
• 6M: 12.75%
• 1Y: 23.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MKTN

• 1D: 0.31%
• 1M: -0.11%
• YTD: 0.14%
• 6M: 0.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLCV vs. MKTN - Yearly Performance Comparison

	2026 (YTD)	2025
FLCV Federated Hermes MDT Large Cap Value ETF	13.41%	3.33%
MKTN Federated Hermes MDT Market Neutral ETF	0.14%	3.22%

Correlation

The correlation between FLCV and MKTN is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 25, 2025	0.07

Return for Risk

FLCV vs. MKTN — Risk / Return Rank

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

FLCV

FLCV Risk / Return Rank: 73
FLCV Sharpe Ratio Rank: 68
FLCV Sortino Ratio Rank: 69
FLCV Omega Ratio Rank: 64
FLCV Calmar Ratio Rank: 83
FLCV Martin Ratio Rank: 82

MKTN

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

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.

FLCV vs. MKTN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Large Cap Value ETF (FLCV) 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.

	FLCV	MKTN	Difference
Sharpe ratio: Return per unit of total volatility	2.00	—	—
Sortino ratio: Return per unit of downside risk	2.85	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	4.07	—	—
Martin ratio: Return relative to average drawdown	15.13	—	—

Drawdowns

FLCV vs. MKTN - Drawdown Comparison

The maximum FLCV drawdown since its inception was -15.93%, which is greater than MKTN's maximum drawdown of -4.13%. Use the drawdown chart below to compare losses from any high point for FLCV and MKTN.

Drawdown Indicators

	FLCV	MKTN	Difference
Max Drawdown Largest peak-to-trough decline	-15.93%	-4.13%	-11.80%
Max Drawdown (1Y) Largest decline over 1 year	-5.70%	—	—
Current Drawdown Current decline from peak	-1.11%	-1.76%	+0.65%
Average Drawdown Average peak-to-trough decline	-2.01%	-1.20%	-0.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.53%	—	—

Volatility

Volatility by Period

	FLCV	MKTN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.77%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.62%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.63%	6.74%	+4.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.95%	6.74%	+8.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.95%	6.74%	+8.21%

Dividends

FLCV vs. MKTN - Dividend Comparison

FLCV's dividend yield for the trailing twelve months is around 0.73%, more than MKTN's 0.51% yield.

Position	TTM	2025	2024
FLCV Federated Hermes MDT Large Cap Value ETF	0.73%	0.83%	0.24%
MKTN Federated Hermes MDT Market Neutral ETF	0.51%	0.51%	0.00%

Frequently Asked Questions

Can I hold both FLCV and MKTN in my portfolio?

FLCV and MKTN have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

FLCV has the higher dividend yield at 0.73%, compared with 0.51% for MKTN.

What is the main difference between FLCV and MKTN?

FLCV is categorized as Large Cap Value Equities, while MKTN is Long-Short.