LEIFX vs. QAMNX

Last updated Apr 2, 2026

Compare and contrast key facts about Federated Hermes Equity Income Fund (LEIFX) and Federated Hermes MDT Market Neutral A (QAMNX).

LEIFX is managed by Federated. It was launched on Dec 30, 1986. QAMNX is managed by Federated. It was launched on Sep 30, 2008.

Performance

LEIFX vs. QAMNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Equity Income Fund (LEIFX) and Federated Hermes MDT Market Neutral A (QAMNX). The values are adjusted to include any dividend payments, if applicable.

LEIFX vs. QAMNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
LEIFX Federated Hermes Equity Income Fund	4.32%	15.18%	-0.45%	8.82%	-7.96%	6.06%
QAMNX Federated Hermes MDT Market Neutral A	1.36%	10.00%	17.33%	4.71%	9.19%	12.29%

Returns By Period

In the year-to-date period, LEIFX achieves a 4.32% return, which is significantly higher than QAMNX's 1.36% return.

LEIFX

• 1D: 1.31%
• 1M: -4.15%
• YTD: 4.32%
• 6M: 7.02%
• 1Y: 18.50%
• 3Y*: 9.49%
• 5Y*: 5.46%
• 10Y*: 7.86%

QAMNX

• 1D: -0.05%
• 1M: -0.05%
• YTD: 1.36%
• 6M: 5.54%
• 1Y: 7.82%
• 3Y*: 10.36%
• 5Y*: —
• 10Y*: —

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

LEIFX vs. QAMNX - Expense Ratio Comparison

LEIFX has a 1.11% expense ratio, which is lower than QAMNX's 1.86% expense ratio.

QAMNX

Federated Hermes MDT Market Neutral A

LEIFX

Federated Hermes Equity Income Fund

Return for Risk

LEIFX vs. QAMNX — Risk / Return Rank

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

LEIFX

LEIFX Risk / Return Rank: 71
LEIFX Sharpe Ratio Rank: 73
LEIFX Sortino Ratio Rank: 67
LEIFX Omega Ratio Rank: 82
LEIFX Calmar Ratio Rank: 60
LEIFX Martin Ratio Rank: 71

QAMNX

QAMNX Risk / Return Rank: 69
QAMNX Sharpe Ratio Rank: 67
QAMNX Sortino Ratio Rank: 73
QAMNX Omega Ratio Rank: 69
QAMNX Calmar Ratio Rank: 79
QAMNX Martin Ratio Rank: 56

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.

LEIFX vs. QAMNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Equity Income Fund (LEIFX) and Federated Hermes MDT Market Neutral A (QAMNX). 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.

	LEIFX	QAMNX	Difference
Sharpe ratio Return per unit of total volatility	1.41	1.23	+0.18
Sortino ratio Return per unit of downside risk	1.84	1.90	-0.06
Omega ratio Gain probability vs. loss probability	1.34	1.27	+0.07
Calmar ratio Return relative to maximum drawdown	1.63	1.97	-0.34
Martin ratio Return relative to average drawdown	7.56	5.71	+1.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LEIFX vs. QAMNX - Sharpe Ratio Comparison

The current LEIFX Sharpe Ratio is 1.41, which is comparable to the QAMNX Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of LEIFX and QAMNX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	LEIFX	QAMNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.41	1.23	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.87	-0.41

Correlation

The correlation between LEIFX and QAMNX is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

LEIFX vs. QAMNX - Dividend Comparison

LEIFX's dividend yield for the trailing twelve months is around 24.30%, more than QAMNX's 1.51% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LEIFX Federated Hermes Equity Income Fund	24.30%	24.92%	0.82%	1.08%	7.54%	16.37%	1.17%	2.01%	19.47%	5.34%	3.98%	3.15%
QAMNX Federated Hermes MDT Market Neutral A	1.51%	1.53%	1.85%	5.89%	11.74%	20.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

LEIFX vs. QAMNX - Drawdown Comparison

The maximum LEIFX drawdown since its inception was -49.19%, which is greater than QAMNX's maximum drawdown of -17.97%. Use the drawdown chart below to compare losses from any high point for LEIFX and QAMNX.

Drawdown Indicators

	LEIFX	QAMNX	Difference
Max Drawdown Largest peak-to-trough decline	-49.19%	-17.97%	-31.22%
Max Drawdown (1Y) Largest decline over 1 year	-11.01%	-4.16%	-6.85%
Max Drawdown (5Y) Largest decline over 5 years	-25.60%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.86%	—	—
Current Drawdown Current decline from peak	-4.41%	-0.42%	-3.99%
Average Drawdown Average peak-to-trough decline	-10.07%	-5.25%	-4.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	1.44%	+0.93%

Volatility

LEIFX vs. QAMNX - Volatility Comparison

Federated Hermes Equity Income Fund (LEIFX) has a higher volatility of 3.32% compared to Federated Hermes MDT Market Neutral A (QAMNX) at 1.03%. This indicates that LEIFX's price experiences larger fluctuations and is considered to be riskier than QAMNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LEIFX	QAMNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	1.03%	+2.29%
Volatility (6M) Calculated over the trailing 6-month period	7.02%	4.88%	+2.14%
Volatility (1Y) Calculated over the trailing 1-year period	13.21%	6.38%	+6.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.19%	14.04%	+1.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.38%	14.04%	+3.34%