MKTN vs. IBAT

Last updated Jun 4, 2026

MKTN (Federated Hermes MDT Market Neutral ETF) and IBAT (iShares Energy Storage & Materials ETF) are both exchange-traded funds - MKTN is a Long-Short fund actively managed by Federated Hermes, while IBAT is a Alternative Energy Equities fund tracking the STOXX Global Energy Storage and Materials. MKTN is actively managed, while IBAT is passively managed. At a correlation of -0.17, they often move in opposite directions.

Performance

MKTN vs. IBAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Market Neutral ETF (MKTN) and iShares Energy Storage & Materials ETF (IBAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MKTN achieves a 1.27% return, which is significantly lower than IBAT's 64.52% return.

MKTN

• 1D: 0.12%
• 1M: 1.01%
• YTD: 1.27%
• 6M: 4.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBAT

• 1D: -1.22%
• 1M: 10.03%
• YTD: 64.52%
• 6M: 57.93%
• 1Y: 124.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MKTN vs. IBAT - Yearly Performance Comparison

	2026 (YTD)	2025
MKTN Federated Hermes MDT Market Neutral ETF	1.27%	3.53%
IBAT iShares Energy Storage & Materials ETF	64.52%	4.27%

Correlation

The correlation between MKTN and IBAT is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 26, 2025	-0.17

Return for Risk

MKTN vs. IBAT — Risk / Return Rank

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

IBAT

IBAT Risk / Return Rank: 95
IBAT Sharpe Ratio Rank: 97
IBAT Sortino Ratio Rank: 95
IBAT Omega Ratio Rank: 94
IBAT Calmar Ratio Rank: 97
IBAT Martin Ratio Rank: 94

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.

MKTN vs. IBAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Market Neutral ETF (MKTN) and iShares Energy Storage & Materials ETF (IBAT). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MKTN	IBAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	1.41	-0.36

Drawdowns

MKTN vs. IBAT - Drawdown Comparison

The maximum MKTN drawdown since its inception was -4.13%, smaller than the maximum IBAT drawdown of -28.26%. Use the drawdown chart below to compare losses from any high point for MKTN and IBAT.

Drawdown Indicators

	MKTN	IBAT	Difference
Max Drawdown Largest peak-to-trough decline	-4.13%	-28.26%	+24.13%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.25%	—
Current Drawdown Current decline from peak	-0.65%	-1.25%	+0.60%
Average Drawdown Average peak-to-trough decline	-1.13%	-7.74%	+6.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.64%	—

Volatility

Volatility by Period

	MKTN	IBAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.25%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.28%	—
Volatility (1Y) Calculated over the trailing 1-year period	6.81%	26.35%	-19.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.81%	23.83%	-17.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.81%	23.83%	-17.02%

Dividends

MKTN vs. IBAT - Dividend Comparison

MKTN's dividend yield for the trailing twelve months is around 0.50%, less than IBAT's 0.70% yield.

Position	TTM	2025	2024
IBAT iShares Energy Storage & Materials ETF	0.70%	1.15%	1.37%
MKTN Federated Hermes MDT Market Neutral ETF	0.50%	0.51%	0.00%

Frequently Asked Questions

Can I hold both MKTN and IBAT in my portfolio?

MKTN and IBAT have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, MKTN or IBAT?

IBAT has the higher dividend yield at 0.70%, compared with 0.50% for MKTN.

What is the main difference between MKTN and IBAT?

MKTN is categorized as Long-Short, while IBAT is Alternative Energy Equities. They also come from different issuers: Federated Hermes and iShares.