OMIFX vs. FGSAX
OMIFX (Federated Hermes Ohio Municipal Income Fund) and FGSAX (Federated Hermes MDT Mid Cap Growth Fund) are both mutual funds - OMIFX is a Municipal Bonds fund managed by Federated, while FGSAX is a Mid Cap Growth Equities fund managed by Federated. Over the past 10 years, OMIFX returned 1.25%/yr vs 14.50%/yr for FGSAX. Their -0.01 correlation means they have often moved in opposite directions in the past. OMIFX charges 0.92%/yr vs 1.15%/yr for FGSAX.
Performance
OMIFX vs. FGSAX - Performance Comparison
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Returns By Period
In the year-to-date period, OMIFX achieves a 0.24% return, which is significantly higher than FGSAX's -0.82% return. Over the past 10 years, OMIFX has underperformed FGSAX with an annualized return of 1.25%, while FGSAX has yielded a comparatively higher 14.50% annualized return.
OMIFX
- 1D
- -0.29%
- 1M
- -2.11%
- 6M
- -0.14%
- YTD
- 0.24%
- 1Y
- 4.91%
- 3Y*
- 2.41%
- 5Y*
- -0.03%
- 10Y*
- 1.25%
- ALL TIME*
- 3.97%
FGSAX
- 1D
- 2.55%
- 1M
- -1.53%
- 6M
- 0.10%
- YTD
- -0.82%
- 1Y
- -1.90%
- 3Y*
- 15.49%
- 5Y*
- 7.87%
- 10Y*
- 14.50%
- ALL TIME*
- 10.02%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
OMIFX vs. FGSAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OMIFX Federated Hermes Ohio Municipal Income Fund | 0.24% | 2.68% | 1.31% | 5.43% | -8.80% | 1.32% | 3.88% | 6.49% | 0.38% | 4.23% |
FGSAX Federated Hermes MDT Mid Cap Growth Fund | -0.82% | 10.54% | 32.97% | 27.05% | -24.60% | 22.39% | 35.50% | 27.95% | -3.23% | 24.38% |
Correlation
The correlation between OMIFX and FGSAX is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.15 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.06 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 1990 | -0.01 |
The correlation between OMIFX and FGSAX shifts across timeframes, from -0.01 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
OMIFX vs. FGSAX — Risk / Return Rank
OMIFX
FGSAX
OMIFX vs. FGSAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Ohio Municipal Income Fund (OMIFX) and Federated Hermes MDT Mid Cap Growth Fund (FGSAX). 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.
| OMIFX | FGSAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.09 | ||
| Sortino ratioReturn per unit of downside risk | +2.99 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.00 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | -0.10 | +2.56 |
| Martin ratioReturn relative to average drawdown | 8.03 | -0.25 | +8.28 |
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Drawdowns
OMIFX vs. FGSAX - Drawdown Comparison
The maximum OMIFX drawdown since its inception was -12.90%, smaller than the maximum FGSAX drawdown of -66.17%. Use the drawdown chart below to compare losses from any high point for OMIFX and FGSAX.
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Drawdown Indicators
| OMIFX | FGSAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.90% | -66.17% | +53.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -13.73% | +11.22% |
Max Drawdown (3Y)Largest decline over 3 years | -6.06% | -24.51% | +18.45% |
Max Drawdown (5Y)Largest decline over 5 years | -12.88% | -35.79% | +22.91% |
Max Drawdown (10Y)Largest decline over 10 years | -12.90% | -37.19% | +24.29% |
Current DrawdownCurrent decline from peak | -2.11% | -5.42% | +3.31% |
Average DrawdownAverage peak-to-trough decline | -1.82% | -16.10% | +14.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 5.33% | -4.59% |
Volatility
OMIFX vs. FGSAX - Volatility Comparison
The current volatility for Federated Hermes Ohio Municipal Income Fund (OMIFX) is 1.03%, while Federated Hermes MDT Mid Cap Growth Fund (FGSAX) has a volatility of 4.96%. This indicates that OMIFX experiences smaller price fluctuations and is considered to be less risky than FGSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OMIFX | FGSAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 4.96% | -3.93% |
Volatility (6M)Calculated over the trailing 6-month period | 2.25% | 13.47% | -11.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.07% | 17.81% | -14.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.18% | 22.54% | -18.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.91% | 22.29% | -18.38% |
OMIFX vs. FGSAX - Expense Ratio Comparison
OMIFX has a 0.92% expense ratio, which is lower than FGSAX's 1.15% expense ratio.
Dividends
OMIFX vs. FGSAX - Dividend Comparison
OMIFX's dividend yield for the trailing twelve months is around 2.65%, less than FGSAX's 4.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FGSAX Federated Hermes MDT Mid Cap Growth Fund | 4.96% | 4.92% | 4.32% | 0.00% | 2.31% | 25.75% | 7.07% | 8.13% | 14.46% | 13.93% | 0.89% | 25.34% |
OMIFX Federated Hermes Ohio Municipal Income Fund | 2.65% | 2.60% | 2.57% | 2.42% | 2.14% | 2.02% | 2.02% | 2.94% | 2.64% | 2.70% | 2.85% | 2.89% |
Frequently Asked Questions
OMIFX and FGSAX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FGSAX has higher volatility (4.96%) compared to OMIFX (1.03%). In terms of maximum drawdown, OMIFX dropped -12.90% vs FGSAX's -66.17%.
OMIFX currently has the higher Sharpe Ratio (2.02 vs -0.07), 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.
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