LSEIX vs. QAMNX

Last updated Aug 4, 2026

LSEIX (Persimmon Long/Short Fund) and QAMNX (Federated Hermes MDT Market Neutral A) are both Long-Short funds. Over the past 3 years, LSEIX returned 15.33%/yr vs 12.15%/yr for QAMNX. Their 0.05 correlation means their historical movements had little consistent relationship. LSEIX charges 1.91%/yr vs 1.86%/yr for QAMNX.

Performance

LSEIX vs. QAMNX - Performance Comparison

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

Returns By Period

In the year-to-date period, LSEIX achieves a 10.15% return, which is significantly higher than QAMNX's 4.89% return.

LSEIX

• 1D: 0.53%
• 1M: 1.65%
• 6M: 6.94%
• YTD: 10.15%
• 1Y: 19.75%
• 3Y*: 15.33%
• 5Y*: 9.74%
• 10Y*: 7.55%
• ALL TIME*: 6.34%

QAMNX

• 1D: 0.27%
• 1M: 3.96%
• 6M: 4.84%
• YTD: 4.89%
• 1Y: 9.10%
• 3Y*: 12.15%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.06%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
LSEIX Persimmon Long/Short Fund	$0.00	$0.00	$0.00
QAMNX Federated Hermes MDT Market Neutral A	$0.00	$0.00	$0.00

LSEIX vs. QAMNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
LSEIX Persimmon Long/Short Fund	10.15%	12.02%	17.36%	15.70%	-9.95%	5.94%
QAMNX Federated Hermes MDT Market Neutral A	4.89%	10.00%	17.33%	4.71%	9.19%	12.29%

Correlation

The correlation between LSEIX and QAMNX is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.02
Correlation (3Y) Balances recent behavior with more history.	0.04
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021	0.05

Return for Risk

LSEIX vs. QAMNX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LSEIX

LSEIX Risk / Return Rank: 87
LSEIX Sharpe Ratio Rank: 84
LSEIX Sortino Ratio Rank: 81
LSEIX Omega Ratio Rank: 81
LSEIX Calmar Ratio Rank: 96
LSEIX Martin Ratio Rank: 97

QAMNX

QAMNX Risk / Return Rank: 43
QAMNX Sharpe Ratio Rank: 40
QAMNX Sortino Ratio Rank: 43
QAMNX Omega Ratio Rank: 47
QAMNX Calmar Ratio Rank: 55
QAMNX Martin Ratio Rank: 30

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LSEIX vs. QAMNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Persimmon Long/Short Fund (LSEIX) 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.

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.

	LSEIX	QAMNX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.30	+0.76
Sortino ratio: Return per unit of downside risk	2.87	1.95	+0.91
Omega ratio: Gain probability vs. loss probability	1.39	1.26	+0.12
Calmar ratio: Return relative to maximum drawdown	4.61	2.10	+2.51
Martin ratio: Return relative to average drawdown	18.38	4.65	+13.73

LSEIX vs. QAMNX - Sharpe Ratio Comparison

The current LSEIX Sharpe Ratio is 2.06, which is higher than the QAMNX Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of LSEIX and QAMNX, 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

LSEIX vs. QAMNX - Drawdown Comparison

The maximum LSEIX drawdown since its inception was -19.92%, which is greater than QAMNX's maximum drawdown of -17.97%. Use the drawdown chart below to compare losses from any high point for LSEIX and QAMNX.

Drawdown Indicators

	LSEIX	QAMNX	Difference
Max Drawdown Largest peak-to-trough decline	-19.92%	-17.97%	-1.95%
Max Drawdown (1Y) Largest decline over 1 year	-3.90%	-4.16%	+0.26%
Max Drawdown (3Y) Largest decline over 3 years	-13.63%	-4.16%	-9.47%
Max Drawdown (5Y) Largest decline over 5 years	-13.63%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-19.92%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.00%	-5.02%	+1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	1.87%	-0.89%

Volatility

LSEIX vs. QAMNX - Volatility Comparison

Persimmon Long/Short Fund (LSEIX) has a higher volatility of 1.98% compared to Federated Hermes MDT Market Neutral A (QAMNX) at 1.55%. This indicates that LSEIX'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

	LSEIX	QAMNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.98%	1.55%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	5.69%	4.50%	+1.19%
Volatility (1Y) Calculated over the trailing 1-year period	8.77%	6.74%	+2.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.89%	13.67%	-2.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.69%	13.67%	-2.98%

LSEIX vs. QAMNX - Expense Ratio Comparison

LSEIX has a 1.91% expense ratio, which is higher than QAMNX's 1.86% expense ratio.

Dividends

LSEIX vs. QAMNX - Dividend Comparison

LSEIX has not paid dividends to shareholders, while QAMNX's dividend yield for the trailing twelve months is around 1.46%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LSEIX Persimmon Long/Short Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.23%	3.49%	6.18%	0.00%	4.88%
QAMNX Federated Hermes MDT Market Neutral A	1.46%	1.53%	1.85%	5.89%	11.74%	20.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LSEIX and QAMNX in my portfolio?

LSEIX and QAMNX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LSEIX or QAMNX?

LSEIX has higher volatility (1.98%) compared to QAMNX (1.55%). In terms of maximum drawdown, LSEIX dropped -19.92% vs QAMNX's -17.97%.

Which has better risk-adjusted returns?

LSEIX currently has the higher Sharpe Ratio (2.06 vs 1.30), 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.