HMCNX vs. QCGDX

Last updated Jun 26, 2026

HMCNX (Harbor Mid Cap Fund) and QCGDX (Quantified Common Ground Fund) are both Mid Cap Blend Equities funds. Over the past 5 years, HMCNX returned 7.36%/yr vs 8.18%/yr for QCGDX. Their correlation of 0.81 suggests significant overlap in exposure. HMCNX charges 1.24%/yr vs 1.68%/yr for QCGDX.

Performance

HMCNX vs. QCGDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Mid Cap Fund (HMCNX) and Quantified Common Ground Fund (QCGDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HMCNX achieves a 15.40% return, which is significantly higher than QCGDX's 13.52% return.

HMCNX

• 1D: 0.78%
• 1M: 1.99%
• YTD: 15.40%
• 6M: 13.87%
• 1Y: 27.37%
• 3Y*: 14.69%
• 5Y*: 7.36%
• 10Y*: —

QCGDX

• 1D: -0.12%
• 1M: -3.07%
• YTD: 13.52%
• 6M: 12.50%
• 1Y: 19.55%
• 3Y*: 11.83%
• 5Y*: 8.18%
• 10Y*: —

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

HMCNX vs. QCGDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HMCNX Harbor Mid Cap Fund	15.40%	9.38%	7.01%	16.44%	-17.46%	24.12%	18.45%	-0.29%
QCGDX Quantified Common Ground Fund	13.52%	1.02%	9.87%	14.74%	-12.23%	32.19%	14.65%	0.10%

Correlation

The correlation between HMCNX and QCGDX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Dec 30, 2019	0.81

The correlation between HMCNX and QCGDX has been stable across timeframes, ranging from 0.76 to 0.82 - a consistent structural relationship.

Return for Risk

HMCNX vs. QCGDX — Risk / Return Rank

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

HMCNX

HMCNX Risk / Return Rank: 64
HMCNX Sharpe Ratio Rank: 57
HMCNX Sortino Ratio Rank: 64
HMCNX Omega Ratio Rank: 52
HMCNX Calmar Ratio Rank: 77
HMCNX Martin Ratio Rank: 72

QCGDX

QCGDX Risk / Return Rank: 42
QCGDX Sharpe Ratio Rank: 32
QCGDX Sortino Ratio Rank: 30
QCGDX Omega Ratio Rank: 35
QCGDX Calmar Ratio Rank: 51
QCGDX Martin Ratio Rank: 63

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.

HMCNX vs. QCGDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Mid Cap Fund (HMCNX) and Quantified Common Ground Fund (QCGDX). 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.

	HMCNX	QCGDX	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.35	+0.47
Sortino ratio: Return per unit of downside risk	2.70	1.91	+0.80
Omega ratio: Gain probability vs. loss probability	1.32	1.26	+0.06
Calmar ratio: Return relative to maximum drawdown	2.96	2.36	+0.59
Martin ratio: Return relative to average drawdown	11.37	10.39	+0.98

HMCNX vs. QCGDX - Sharpe Ratio Comparison

The current HMCNX Sharpe Ratio is 1.83, which is higher than the QCGDX Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of HMCNX and QCGDX, 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

HMCNX vs. QCGDX - Drawdown Comparison

The maximum HMCNX drawdown since its inception was -38.10%, which is greater than QCGDX's maximum drawdown of -22.37%. Use the drawdown chart below to compare losses from any high point for HMCNX and QCGDX.

Drawdown Indicators

	HMCNX	QCGDX	Difference
Max Drawdown Largest peak-to-trough decline	-38.10%	-22.37%	-15.73%
Max Drawdown (1Y) Largest decline over 1 year	-9.00%	-7.92%	-1.08%
Max Drawdown (3Y) Largest decline over 3 years	-20.80%	-16.10%	-4.70%
Max Drawdown (5Y) Largest decline over 5 years	-23.82%	-20.18%	-3.64%
Current Drawdown Current decline from peak	-0.66%	-4.21%	+3.55%
Average Drawdown Average peak-to-trough decline	-6.84%	-6.10%	-0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	1.80%	+0.54%

Volatility

HMCNX vs. QCGDX - Volatility Comparison

The current volatility for Harbor Mid Cap Fund (HMCNX) is 4.65%, while Quantified Common Ground Fund (QCGDX) has a volatility of 7.84%. This indicates that HMCNX experiences smaller price fluctuations and is considered to be less risky than QCGDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HMCNX	QCGDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.65%	7.84%	-3.19%
Volatility (6M) Calculated over the trailing 6-month period	10.98%	11.67%	-0.69%
Volatility (1Y) Calculated over the trailing 1-year period	14.60%	13.82%	+0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.10%	15.03%	+2.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.28%	16.64%	+4.64%

HMCNX vs. QCGDX - Expense Ratio Comparison

HMCNX has a 1.24% expense ratio, which is lower than QCGDX's 1.68% expense ratio.

Dividends

HMCNX vs. QCGDX - Dividend Comparison

HMCNX's dividend yield for the trailing twelve months is around 2.17%, more than QCGDX's 0.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HMCNX Harbor Mid Cap Fund	2.17%	2.50%	0.27%	1.94%	2.93%	1.79%	0.00%	0.02%
QCGDX Quantified Common Ground Fund	0.61%	0.69%	4.42%	0.22%	0.00%	5.44%	1.65%	0.00%

Frequently Asked Questions

Can I hold both HMCNX and QCGDX in my portfolio?

HMCNX and QCGDX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HMCNX or QCGDX?

QCGDX has higher volatility (7.84%) compared to HMCNX (4.65%). In terms of maximum drawdown, HMCNX dropped -38.10% vs QCGDX's -22.37%.

Which has better risk-adjusted returns?

HMCNX currently has the higher Sharpe Ratio (1.83 vs 1.35), 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.