PIGDX vs. ^GSPC
PIGDX (Federated Hermes International Growth Fund) is Foreign Large Cap Equities fund managed by Federated, while ^GSPC (S&P 500 Index) is an index. Over the past 5 years, PIGDX returned -23.33%/yr vs 11.54%/yr for ^GSPC. A 0.76 correlation means they provide meaningful diversification when combined.
Performance
PIGDX vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, PIGDX achieves a 19.74% return, which is significantly higher than ^GSPC's 7.60% return.
PIGDX
- 1D
- 0.00%
- 1M
- 4.47%
- YTD
- 19.74%
- 6M
- 19.13%
- 1Y
- -71.03%
- 3Y*
- -28.81%
- 5Y*
- -23.33%
- 10Y*
- —
^GSPC
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
PIGDX vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIGDX Federated Hermes International Growth Fund | 19.74% | -72.44% | 6.47% | 8.80% | -29.43% | 6.85% | 43.18% | 26.99% | -13.33% | 41.55% |
^GSPC S&P 500 Index | 7.60% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
Correlation
The correlation between PIGDX and ^GSPC is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.76 |
The correlation between PIGDX and ^GSPC has been stable across timeframes, ranging from 0.69 to 0.76 - a consistent structural relationship.
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Return for Risk
PIGDX vs. ^GSPC — Risk / Return Rank
PIGDX
^GSPC
PIGDX vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes International Growth Fund (PIGDX) and S&P 500 Index (^GSPC). 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.
| PIGDX | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.68 | ||
| Sortino ratioReturn per unit of downside risk | -3.14 | ||
| Omega ratioGain probability vs. loss probability | 0.67 | 1.32 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 2.46 | -3.39 |
| Martin ratioReturn relative to average drawdown | -1.36 | 10.92 | -12.28 |
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Drawdowns
PIGDX vs. ^GSPC - Drawdown Comparison
The maximum PIGDX drawdown since its inception was -79.94%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for PIGDX and ^GSPC.
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Drawdown Indicators
| PIGDX | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.94% | -56.78% | -23.16% |
Max Drawdown (1Y)Largest decline over 1 year | -78.87% | -9.10% | -69.77% |
Max Drawdown (3Y)Largest decline over 3 years | -78.87% | -18.90% | -59.97% |
Max Drawdown (5Y)Largest decline over 5 years | -79.94% | -25.43% | -54.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -75.41% | -3.21% | -72.20% |
Average DrawdownAverage peak-to-trough decline | -17.39% | -10.71% | -6.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.90% | 2.04% | +49.86% |
Volatility
PIGDX vs. ^GSPC - Volatility Comparison
Federated Hermes International Growth Fund (PIGDX) has a higher volatility of 6.92% compared to S&P 500 Index (^GSPC) at 4.89%. This indicates that PIGDX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIGDX | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.92% | 4.89% | +2.03% |
Volatility (6M)Calculated over the trailing 6-month period | 147.11% | 9.93% | +137.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 82.52% | 12.57% | +69.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.16% | 17.00% | +22.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.94% | 18.08% | +12.86% |
Frequently Asked Questions
PIGDX and ^GSPC have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIGDX has higher volatility (6.92%) compared to ^GSPC (4.89%). In terms of maximum drawdown, PIGDX dropped -79.94% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.78 vs -0.90), 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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