OSTGX vs. QISGX

Last updated Jun 24, 2026

OSTGX (Osterweis Emerging Opportunity Fund) and QISGX (Federated Hermes MDT Small Cap Growth Fund) are both Small Cap Growth Equities funds. Over the past 5 years, OSTGX returned 0.15%/yr vs 9.24%/yr for QISGX. Their correlation of 0.80 suggests significant overlap in exposure. OSTGX charges 1.17%/yr vs 0.89%/yr for QISGX.

Performance

OSTGX vs. QISGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Osterweis Emerging Opportunity Fund (OSTGX) and Federated Hermes MDT Small Cap Growth Fund (QISGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with OSTGX having a 23.49% return and QISGX slightly lower at 23.20%.

OSTGX

• 1D: -0.57%
• 1M: 8.45%
• YTD: 23.49%
• 6M: 20.72%
• 1Y: 35.85%
• 3Y*: 17.78%
• 5Y*: 0.15%
• 10Y*: —

QISGX

• 1D: 1.32%
• 1M: 5.28%
• YTD: 23.20%
• 6M: 20.18%
• 1Y: 48.35%
• 3Y*: 22.22%
• 5Y*: 9.24%
• 10Y*: 14.37%

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

OSTGX vs. QISGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OSTGX Osterweis Emerging Opportunity Fund	23.49%	0.26%	22.49%	23.98%	-33.00%	-14.83%	83.54%	36.97%	1.33%	26.75%
QISGX Federated Hermes MDT Small Cap Growth Fund	23.20%	17.72%	15.63%	19.63%	-27.94%	18.14%	29.91%	21.14%	-6.33%	25.17%

Correlation

The correlation between OSTGX and QISGX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Nov 30, 2016	0.80

Over the past year, the correlation between OSTGX and QISGX has dropped to 0.33 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.

Return for Risk

OSTGX vs. QISGX — Risk / Return Rank

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

OSTGX

OSTGX Risk / Return Rank: 44
OSTGX Sharpe Ratio Rank: 39
OSTGX Sortino Ratio Rank: 39
OSTGX Omega Ratio Rank: 36
OSTGX Calmar Ratio Rank: 54
OSTGX Martin Ratio Rank: 52

QISGX

QISGX Risk / Return Rank: 78
QISGX Sharpe Ratio Rank: 76
QISGX Sortino Ratio Rank: 73
QISGX Omega Ratio Rank: 74
QISGX Calmar Ratio Rank: 84
QISGX Martin Ratio Rank: 81

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.

OSTGX vs. QISGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Osterweis Emerging Opportunity Fund (OSTGX) and Federated Hermes MDT Small Cap Growth Fund (QISGX). 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.

	OSTGX	QISGX	Difference
Sharpe ratio: Return per unit of total volatility	1.70	2.34	-0.64
Sortino ratio: Return per unit of downside risk	2.43	3.25	-0.81
Omega ratio: Gain probability vs. loss probability	1.29	1.44	-0.14
Calmar ratio: Return relative to maximum drawdown	2.70	3.77	-1.07
Martin ratio: Return relative to average drawdown	10.09	14.02	-3.93

OSTGX vs. QISGX - Sharpe Ratio Comparison

The current OSTGX Sharpe Ratio is 1.70, which is comparable to the QISGX Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of OSTGX and QISGX, 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

OSTGX vs. QISGX - Drawdown Comparison

The maximum OSTGX drawdown since its inception was -53.93%, smaller than the maximum QISGX drawdown of -60.75%. Use the drawdown chart below to compare losses from any high point for OSTGX and QISGX.

Drawdown Indicators

	OSTGX	QISGX	Difference
Max Drawdown Largest peak-to-trough decline	-53.93%	-60.75%	+6.82%
Max Drawdown (1Y) Largest decline over 1 year	-13.61%	-13.23%	-0.38%
Max Drawdown (3Y) Largest decline over 3 years	-31.06%	-27.28%	-3.78%
Max Drawdown (5Y) Largest decline over 5 years	-53.93%	-38.60%	-15.33%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.08%	—
Current Drawdown Current decline from peak	-6.79%	0.00%	-6.79%
Average Drawdown Average peak-to-trough decline	-19.69%	-13.85%	-5.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	3.55%	+0.08%

Volatility

OSTGX vs. QISGX - Volatility Comparison

Osterweis Emerging Opportunity Fund (OSTGX) and Federated Hermes MDT Small Cap Growth Fund (QISGX) have volatilities of 7.49% and 7.18%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OSTGX	QISGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.49%	7.18%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	17.04%	15.96%	+1.08%
Volatility (1Y) Calculated over the trailing 1-year period	21.66%	21.36%	+0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.84%	24.61%	+0.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.15%	24.74%	+0.41%

OSTGX vs. QISGX - Expense Ratio Comparison

OSTGX has a 1.17% expense ratio, which is higher than QISGX's 0.89% expense ratio.

Dividends

OSTGX vs. QISGX - Dividend Comparison

OSTGX's dividend yield for the trailing twelve months is around 1.87%, less than QISGX's 3.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OSTGX Osterweis Emerging Opportunity Fund	1.87%	2.31%	0.84%	0.00%	0.00%	0.10%	10.54%	12.79%	8.06%	18.91%	0.00%	0.00%
QISGX Federated Hermes MDT Small Cap Growth Fund	3.18%	3.91%	0.00%	0.05%	3.63%	29.34%	0.45%	0.00%	7.03%	5.09%	1.61%	18.51%

Frequently Asked Questions

Can I hold both OSTGX and QISGX in my portfolio?

OSTGX and QISGX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OSTGX or QISGX?

OSTGX has higher volatility (7.49%) compared to QISGX (7.18%). In terms of maximum drawdown, OSTGX dropped -53.93% vs QISGX's -60.75%.

Which has better risk-adjusted returns?

QISGX currently has the higher Sharpe Ratio (2.34 vs 1.70), 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.