FMDCX vs. IJH
FMDCX (Federated Hermes Mid Cap Index Fund) and IJH (iShares Core S&P Mid-Cap ETF) are both Mid Cap Blend Equities funds. Over the past 10 years, FMDCX returned 10.89%/yr vs 11.23%/yr for IJH. With a 0.97 correlation, they move nearly in lockstep. FMDCX charges 0.57%/yr vs 0.05%/yr for IJH.
Performance
FMDCX vs. IJH - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FMDCX having a 13.97% return and IJH slightly higher at 14.60%. Both investments have delivered pretty close results over the past 10 years, with FMDCX having a 10.89% annualized return and IJH not far ahead at 11.23%.
FMDCX
- 1D
- -0.12%
- 1M
- 2.41%
- YTD
- 13.97%
- 6M
- 13.51%
- 1Y
- 24.97%
- 3Y*
- 15.70%
- 5Y*
- 7.86%
- 10Y*
- 10.89%
IJH
- 1D
- 0.44%
- 1M
- 2.99%
- YTD
- 14.60%
- 6M
- 14.27%
- 1Y
- 26.23%
- 3Y*
- 16.69%
- 5Y*
- 8.26%
- 10Y*
- 11.23%
FMDCX vs. IJH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMDCX Federated Hermes Mid Cap Index Fund | 13.97% | 6.95% | 13.34% | 16.38% | -13.88% | 25.28% | 13.37% | 25.36% | -11.51% | 15.43% |
IJH iShares Core S&P Mid-Cap ETF | 14.60% | 7.42% | 13.92% | 16.40% | -13.11% | 24.72% | 13.60% | 26.10% | -11.19% | 16.26% |
Correlation
The correlation between FMDCX and IJH is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since May 30, 2000 | 0.97 |
Over the past year, the correlation between FMDCX and IJH has dropped to 0.74 - well below their long-term average of 0.97, suggesting their price drivers have been diverging.
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Return for Risk
FMDCX vs. IJH — Risk / Return Rank
FMDCX
IJH
FMDCX vs. IJH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Mid Cap Index Fund (FMDCX) and iShares Core S&P Mid-Cap ETF (IJH). 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.
| FMDCX | IJH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.30 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | 2.98 | +0.60 |
| Martin ratioReturn relative to average drawdown | 13.22 | 10.93 | +2.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FMDCX | IJH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.96 | 1.70 | +0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.42 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | 0.53 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.46 | +0.08 |
Drawdowns
FMDCX vs. IJH - Drawdown Comparison
The maximum FMDCX drawdown since its inception was -55.36%, roughly equal to the maximum IJH drawdown of -55.07%. Use the drawdown chart below to compare losses from any high point for FMDCX and IJH.
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Drawdown Indicators
| FMDCX | IJH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.36% | -55.07% | -0.29% |
Max Drawdown (1Y)Largest decline over 1 year | -8.75% | -8.83% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -24.16% | -24.10% | -0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -24.16% | -24.10% | -0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -42.05% | -42.18% | +0.13% |
Current DrawdownCurrent decline from peak | -0.12% | 0.00% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -6.80% | -7.57% | +0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.38% | 2.41% | +0.97% |
Volatility
FMDCX vs. IJH - Volatility Comparison
Federated Hermes Mid Cap Index Fund (FMDCX) has a higher volatility of 4.49% compared to iShares Core S&P Mid-Cap ETF (IJH) at 4.24%. This indicates that FMDCX's price experiences larger fluctuations and is considered to be riskier than IJH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMDCX | IJH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.49% | 4.24% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 12.32% | 11.31% | +1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.08% | 15.50% | +0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.35% | 19.74% | +0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.38% | 21.17% | +0.21% |
FMDCX vs. IJH - Expense Ratio Comparison
FMDCX has a 0.57% expense ratio, which is higher than IJH's 0.05% expense ratio.
Dividends
FMDCX vs. IJH - Dividend Comparison
FMDCX's dividend yield for the trailing twelve months is around 9.36%, more than IJH's 1.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMDCX Federated Hermes Mid Cap Index Fund | 9.36% | 10.67% | 15.63% | 11.46% | 12.33% | 22.20% | 15.60% | 10.60% | 26.14% | 17.30% | 11.41% | 14.68% |
IJH iShares Core S&P Mid-Cap ETF | 1.18% | 1.36% | 1.33% | 1.46% | 1.68% | 1.18% | 1.28% | 1.63% | 1.72% | 1.19% | 1.60% | 1.56% |
Frequently Asked Questions
FMDCX and IJH have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMDCX has higher volatility (4.49%) compared to IJH (4.24%). In terms of maximum drawdown, FMDCX dropped -55.36% vs IJH's -55.07%.
FMDCX currently has the higher Sharpe Ratio (1.96 vs 1.70), 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.
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