KAUFX vs. VOE

Last updated Jun 4, 2026

KAUFX (Federated Hermes Kaufmann Fd) and VOE (Vanguard Mid-Cap Value ETF) are both funds - KAUFX is a Mid Cap Growth Equities fund managed by Federated, while VOE is a Mid Cap Value Equities fund tracking the CRSP US Mid Cap Value Index. Over the past 10 years, KAUFX returned 11.51%/yr vs 10.55%/yr for VOE. A 0.74 correlation means they provide meaningful diversification when combined. KAUFX charges 1.96%/yr vs 0.07%/yr for VOE.

Performance

KAUFX vs. VOE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Kaufmann Fd (KAUFX) and Vanguard Mid-Cap Value ETF (VOE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KAUFX achieves a 5.87% return, which is significantly lower than VOE's 10.75% return. Over the past 10 years, KAUFX has outperformed VOE with an annualized return of 11.51%, while VOE has yielded a comparatively lower 10.55% annualized return.

KAUFX

• 1D: 0.00%
• 1M: 5.50%
• YTD: 5.87%
• 6M: 5.95%
• 1Y: 13.25%
• 3Y*: 19.24%
• 5Y*: 5.38%
• 10Y*: 11.51%

VOE

• 1D: -0.16%
• 1M: 1.35%
• YTD: 10.75%
• 6M: 11.62%
• 1Y: 22.73%
• 3Y*: 16.53%
• 5Y*: 8.45%
• 10Y*: 10.55%

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

KAUFX vs. VOE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KAUFX Federated Hermes Kaufmann Fd	5.87%	12.18%	29.84%	14.88%	-30.30%	2.46%	28.54%	32.56%	4.03%	27.65%
VOE Vanguard Mid-Cap Value ETF	10.75%	12.08%	14.00%	9.85%	-7.97%	28.78%	2.65%	27.85%	-12.48%	17.07%

Correlation

The correlation between KAUFX and VOE is 0.09, 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 (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Aug 28, 2006	0.74

Over the past year, the correlation between KAUFX and VOE has dropped to 0.09 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

Return for Risk

KAUFX vs. VOE — Risk / Return Rank

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

KAUFX

KAUFX Risk / Return Rank: 10
KAUFX Sharpe Ratio Rank: 10
KAUFX Sortino Ratio Rank: 10
KAUFX Omega Ratio Rank: 11
KAUFX Calmar Ratio Rank: 9
KAUFX Martin Ratio Rank: 12

VOE

VOE Risk / Return Rank: 61
VOE Sharpe Ratio Rank: 57
VOE Sortino Ratio Rank: 60
VOE Omega Ratio Rank: 55
VOE Calmar Ratio Rank: 65
VOE Martin Ratio Rank: 67

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.

KAUFX vs. VOE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Kaufmann Fd (KAUFX) and Vanguard Mid-Cap Value ETF (VOE). 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.

	KAUFX	VOE	Difference
Sharpe ratio: Return per unit of total volatility	0.80	1.99	-1.20
Sortino ratio: Return per unit of downside risk	1.25	2.88	-1.63
Omega ratio: Gain probability vs. loss probability	1.17	1.35	-0.18
Calmar ratio: Return relative to maximum drawdown	0.90	3.30	-2.40
Martin ratio: Return relative to average drawdown	3.50	12.51	-9.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KAUFX vs. VOE - Sharpe Ratio Comparison

The current KAUFX Sharpe Ratio is 0.80, which is lower than the VOE Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of KAUFX and VOE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KAUFX	VOE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	1.99	-1.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.53	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.56	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.44	+0.14

Drawdowns

KAUFX vs. VOE - Drawdown Comparison

The maximum KAUFX drawdown since its inception was -54.66%, smaller than the maximum VOE drawdown of -61.50%. Use the drawdown chart below to compare losses from any high point for KAUFX and VOE.

Drawdown Indicators

	KAUFX	VOE	Difference
Max Drawdown Largest peak-to-trough decline	-54.66%	-61.50%	+6.84%
Max Drawdown (1Y) Largest decline over 1 year	-14.83%	-6.93%	-7.90%
Max Drawdown (3Y) Largest decline over 3 years	-22.58%	-18.45%	-4.13%
Max Drawdown (5Y) Largest decline over 5 years	-40.76%	-19.70%	-21.06%
Max Drawdown (10Y) Largest decline over 10 years	-40.76%	-43.18%	+2.42%
Current Drawdown Current decline from peak	0.00%	-0.16%	+0.16%
Average Drawdown Average peak-to-trough decline	-11.19%	-8.35%	-2.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.79%	1.82%	+1.97%

Volatility

KAUFX vs. VOE - Volatility Comparison

Federated Hermes Kaufmann Fd (KAUFX) has a higher volatility of 4.61% compared to Vanguard Mid-Cap Value ETF (VOE) at 2.58%. This indicates that KAUFX's price experiences larger fluctuations and is considered to be riskier than VOE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KAUFX	VOE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.61%	2.58%	+2.03%
Volatility (6M) Calculated over the trailing 6-month period	14.02%	8.13%	+5.89%
Volatility (1Y) Calculated over the trailing 1-year period	16.71%	11.47%	+5.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.94%	16.03%	+4.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.83%	18.83%	+2.00%

KAUFX vs. VOE - Expense Ratio Comparison

KAUFX has a 1.96% expense ratio, which is higher than VOE's 0.07% expense ratio.

Dividends

KAUFX vs. VOE - Dividend Comparison

KAUFX's dividend yield for the trailing twelve months is around 10.17%, more than VOE's 1.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KAUFX Federated Hermes Kaufmann Fd	10.17%	10.76%	22.39%	1.89%	0.00%	9.77%	6.94%	11.75%	15.74%	11.76%	10.48%	16.34%
VOE Vanguard Mid-Cap Value ETF	1.88%	2.10%	2.11%	2.27%	2.27%	1.78%	2.36%	2.05%	2.75%	1.86%	1.92%	2.05%

Frequently Asked Questions

Can I hold both KAUFX and VOE in my portfolio?

KAUFX and VOE have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KAUFX or VOE?

KAUFX has higher volatility (4.61%) compared to VOE (2.58%). In terms of maximum drawdown, KAUFX dropped -54.66% vs VOE's -61.50%.

Which has better risk-adjusted returns?

VOE currently has the higher Sharpe Ratio (1.99 vs 0.80), 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.