PAMFX vs. FGSAX
PAMFX (Federated Hermes Pennsylvania Municipal Inc Fd) and FGSAX (Federated Hermes MDT Mid Cap Growth Fund) are both mutual funds - PAMFX 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, PAMFX returned 1.67%/yr vs 14.53%/yr for FGSAX. At a correlation of -0.01, they often move in opposite directions. PAMFX charges 0.76%/yr vs 1.15%/yr for FGSAX.
Performance
PAMFX vs. FGSAX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PAMFX achieves a 1.37% return, which is significantly higher than FGSAX's -0.71% return. Over the past 10 years, PAMFX has underperformed FGSAX with an annualized return of 1.67%, while FGSAX has yielded a comparatively higher 14.53% annualized return.
PAMFX
- 1D
- -0.10%
- 1M
- -0.70%
- 6M
- 1.19%
- YTD
- 1.37%
- 1Y
- 6.84%
- 3Y*
- 2.77%
- 5Y*
- 0.31%
- 10Y*
- 1.67%
- ALL TIME*
- 4.20%
FGSAX
- 1D
- 1.05%
- 1M
- -0.80%
- 6M
- 0.90%
- YTD
- -0.71%
- 1Y
- -0.23%
- 3Y*
- 15.82%
- 5Y*
- 8.20%
- 10Y*
- 14.53%
- ALL TIME*
- 10.03%
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 |
PAMFX vs. FGSAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAMFX Federated Hermes Pennsylvania Municipal Inc Fd | 1.37% | 2.84% | 1.89% | 5.50% | -9.06% | 1.92% | 4.17% | 7.21% | 0.54% | 4.66% |
FGSAX Federated Hermes MDT Mid Cap Growth Fund | -0.71% | 10.54% | 32.97% | 27.05% | -24.60% | 22.39% | 35.50% | 27.95% | -3.23% | 24.38% |
Correlation
The correlation between PAMFX and FGSAX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 1990 | -0.01 |
The correlation between PAMFX and FGSAX shifts across timeframes, from -0.01 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PAMFX vs. FGSAX — Risk / Return Rank
PAMFX
FGSAX
PAMFX vs. FGSAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Pennsylvania Municipal Inc Fd (PAMFX) 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.
| PAMFX | FGSAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.99 | ||
| Sortino ratioReturn per unit of downside risk | +4.92 | ||
| Omega ratioGain probability vs. loss probability | 1.76 | 1.01 | +0.75 |
| Calmar ratioReturn relative to maximum drawdown | 3.86 | -0.02 | +3.88 |
| Martin ratioReturn relative to average drawdown | 14.96 | -0.04 | +15.00 |
Loading charts...
Drawdowns
PAMFX vs. FGSAX - Drawdown Comparison
The maximum PAMFX drawdown since its inception was -15.50%, smaller than the maximum FGSAX drawdown of -66.17%. Use the drawdown chart below to compare losses from any high point for PAMFX and FGSAX.
Loading charts...
Drawdown Indicators
| PAMFX | FGSAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.50% | -66.17% | +50.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.11% | -13.73% | +11.62% |
Max Drawdown (3Y)Largest decline over 3 years | -6.13% | -24.51% | +18.38% |
Max Drawdown (5Y)Largest decline over 5 years | -13.32% | -35.79% | +22.47% |
Max Drawdown (10Y)Largest decline over 10 years | -13.32% | -37.19% | +23.87% |
Current DrawdownCurrent decline from peak | -1.19% | -5.31% | +4.12% |
Average DrawdownAverage peak-to-trough decline | -1.89% | -16.11% | +14.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 5.21% | -4.64% |
Volatility
PAMFX vs. FGSAX - Volatility Comparison
The current volatility for Federated Hermes Pennsylvania Municipal Inc Fd (PAMFX) is 0.67%, while Federated Hermes MDT Mid Cap Growth Fund (FGSAX) has a volatility of 4.40%. This indicates that PAMFX 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.
Loading charts...
Volatility by Period
| PAMFX | FGSAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 4.40% | -3.73% |
Volatility (6M)Calculated over the trailing 6-month period | 1.81% | 13.45% | -11.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.74% | 17.58% | -14.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.03% | 22.51% | -18.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.78% | 22.27% | -18.49% |
PAMFX vs. FGSAX - Expense Ratio Comparison
PAMFX has a 0.76% expense ratio, which is lower than FGSAX's 1.15% expense ratio.
Dividends
PAMFX vs. FGSAX - Dividend Comparison
PAMFX's dividend yield for the trailing twelve months is around 2.82%, 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% |
PAMFX Federated Hermes Pennsylvania Municipal Inc Fd | 2.82% | 3.06% | 2.99% | 2.79% | 2.51% | 2.45% | 2.33% | 3.81% | 3.15% | 2.98% | 3.07% | 3.12% |
Frequently Asked Questions
PAMFX and FGSAX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FGSAX has higher volatility (4.40%) compared to PAMFX (0.67%). In terms of maximum drawdown, PAMFX dropped -15.50% vs FGSAX's -66.17%.
PAMFX currently has the higher Sharpe Ratio (2.98 vs -0.01), 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.
Find the right allocation for PAMFX and FGSAX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer