HASCX vs. QISCX

Last updated Jun 24, 2026

HASCX (Harbor Small Cap Value Fund) and QISCX (Federated Hermes MDT Small Cap Core Fund) are both Small Cap Blend Equities funds. Over the past 10 years, HASCX returned 12.49%/yr vs 13.21%/yr for QISCX. Their correlation of 0.90 suggests significant overlap in exposure. HASCX charges 0.87%/yr vs 0.89%/yr for QISCX.

Performance

HASCX vs. QISCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Small Cap Value Fund (HASCX) and Federated Hermes MDT Small Cap Core Fund (QISCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HASCX achieves a 33.41% return, which is significantly higher than QISCX's 18.94% return. Over the past 10 years, HASCX has underperformed QISCX with an annualized return of 12.49%, while QISCX has yielded a comparatively higher 13.21% annualized return.

HASCX

• 1D: 0.76%
• 1M: 7.86%
• YTD: 33.41%
• 6M: 30.72%
• 1Y: 48.54%
• 3Y*: 19.52%
• 5Y*: 10.38%
• 10Y*: 12.49%

QISCX

• 1D: 0.95%
• 1M: 4.72%
• YTD: 18.94%
• 6M: 16.64%
• 1Y: 41.85%
• 3Y*: 22.28%
• 5Y*: 9.90%
• 10Y*: 13.21%

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

HASCX vs. QISCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HASCX Harbor Small Cap Value Fund	33.41%	3.78%	10.93%	15.18%	-9.59%	14.55%	13.15%	28.97%	-16.16%	21.63%
QISCX Federated Hermes MDT Small Cap Core Fund	18.94%	14.95%	14.82%	20.58%	-23.14%	30.60%	17.00%	18.06%	-11.63%	15.67%

Correlation

The correlation between HASCX and QISCX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jan 3, 2006	0.90

Over the past year, the correlation between HASCX and QISCX has dropped to 0.27 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.

Return for Risk

HASCX vs. QISCX — Risk / Return Rank

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

HASCX

HASCX Risk / Return Rank: 85
HASCX Sharpe Ratio Rank: 85
HASCX Sortino Ratio Rank: 82
HASCX Omega Ratio Rank: 71
HASCX Calmar Ratio Rank: 94
HASCX Martin Ratio Rank: 92

QISCX

QISCX Risk / Return Rank: 62
QISCX Sharpe Ratio Rank: 55
QISCX Sortino Ratio Rank: 58
QISCX Omega Ratio Rank: 69
QISCX Calmar Ratio Rank: 75
QISCX Martin Ratio Rank: 52

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.

HASCX vs. QISCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Small Cap Value Fund (HASCX) and Federated Hermes MDT Small Cap Core Fund (QISCX). 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.

	HASCX	QISCX	Difference
Sharpe ratio: Return per unit of total volatility	2.56	2.03	+0.53
Sortino ratio: Return per unit of downside risk	3.55	2.92	+0.64
Omega ratio: Gain probability vs. loss probability	1.43	1.42	+0.01
Calmar ratio: Return relative to maximum drawdown	5.12	3.24	+1.88
Martin ratio: Return relative to average drawdown	17.63	10.00	+7.64

HASCX vs. QISCX - Sharpe Ratio Comparison

The current HASCX Sharpe Ratio is 2.56, which is comparable to the QISCX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of HASCX and QISCX, 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

HASCX vs. QISCX - Drawdown Comparison

The maximum HASCX drawdown since its inception was -58.90%, smaller than the maximum QISCX drawdown of -68.05%. Use the drawdown chart below to compare losses from any high point for HASCX and QISCX.

Drawdown Indicators

	HASCX	QISCX	Difference
Max Drawdown Largest peak-to-trough decline	-58.90%	-68.05%	+9.15%
Max Drawdown (1Y) Largest decline over 1 year	-9.89%	-13.48%	+3.59%
Max Drawdown (3Y) Largest decline over 3 years	-28.34%	-26.51%	-1.83%
Max Drawdown (5Y) Largest decline over 5 years	-28.34%	-32.89%	+4.55%
Max Drawdown (10Y) Largest decline over 10 years	-42.15%	-49.02%	+6.87%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.12%	-15.63%	+7.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	4.35%	-1.49%

Volatility

HASCX vs. QISCX - Volatility Comparison

Harbor Small Cap Value Fund (HASCX) and Federated Hermes MDT Small Cap Core Fund (QISCX) have volatilities of 6.33% and 6.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HASCX	QISCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.33%	6.12%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	14.92%	13.47%	+1.45%
Volatility (1Y) Calculated over the trailing 1-year period	19.81%	21.54%	-1.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.81%	23.30%	-2.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.95%	24.21%	-1.26%

HASCX vs. QISCX - Expense Ratio Comparison

HASCX has a 0.87% expense ratio, which is lower than QISCX's 0.89% expense ratio.

Dividends

HASCX vs. QISCX - Dividend Comparison

HASCX's dividend yield for the trailing twelve months is around 2.56%, less than QISCX's 6.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HASCX Harbor Small Cap Value Fund	2.56%	3.41%	0.62%	6.99%	7.25%	5.64%	0.43%	1.41%	11.18%	1.98%	0.36%	3.98%
QISCX Federated Hermes MDT Small Cap Core Fund	6.70%	7.97%	0.35%	0.31%	3.77%	15.41%	0.44%	0.36%	3.81%	4.49%	0.85%	12.05%

Frequently Asked Questions

Can I hold both HASCX and QISCX in my portfolio?

HASCX and QISCX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HASCX or QISCX?

HASCX has higher volatility (6.33%) compared to QISCX (6.12%). In terms of maximum drawdown, HASCX dropped -58.90% vs QISCX's -68.05%.

Which has better risk-adjusted returns?

HASCX currently has the higher Sharpe Ratio (2.56 vs 2.03), 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.