PIGDX vs. QAMNX
PIGDX (Federated Hermes International Growth Fund) and QAMNX (Federated Hermes MDT Market Neutral A) are both mutual funds - PIGDX is a Foreign Large Cap Equities fund managed by Federated, while QAMNX is a Long-Short fund managed by Federated. Over the past 3 years, PIGDX returned -31.63%/yr vs 12.11%/yr for QAMNX. Their -0.01 correlation means they have often moved in opposite directions in the past. PIGDX charges 0.84%/yr vs 1.86%/yr for QAMNX.
Performance
PIGDX vs. QAMNX - Performance Comparison
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Returns By Period
In the year-to-date period, PIGDX achieves a 10.51% return, which is significantly higher than QAMNX's 4.61% return.
PIGDX
- 1D
- 3.11%
- 1M
- -4.65%
- 6M
- 0.23%
- YTD
- 10.51%
- 1Y
- -73.43%
- 3Y*
- -31.63%
- 5Y*
- -24.69%
- 10Y*
- —
- ALL TIME*
- -5.31%
QAMNX
- 1D
- 0.54%
- 1M
- 3.68%
- 6M
- 5.25%
- YTD
- 4.61%
- 1Y
- 8.81%
- 3Y*
- 12.11%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.00%
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 |
PIGDX vs. QAMNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PIGDX Federated Hermes International Growth Fund | 10.51% | -72.44% | 6.47% | 8.80% | -29.43% | -5.97% |
QAMNX Federated Hermes MDT Market Neutral A | 4.61% | 10.00% | 17.33% | 4.71% | 9.19% | 12.29% |
Correlation
The correlation between PIGDX and QAMNX is -0.17, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.17 |
Correlation (3Y) Balances recent behavior with more history. | -0.03 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021 | -0.01 |
The correlation between PIGDX and QAMNX shifts across timeframes, from -0.17 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PIGDX vs. QAMNX — Risk / Return Rank
PIGDX
QAMNX
PIGDX vs. QAMNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes International Growth Fund (PIGDX) and Federated Hermes MDT Market Neutral A (QAMNX). 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 | QAMNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.27 | ||
| Sortino ratioReturn per unit of downside risk | -2.86 | ||
| Omega ratioGain probability vs. loss probability | 0.64 | 1.27 | -0.63 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | 2.18 | -3.15 |
| Martin ratioReturn relative to average drawdown | -1.28 | 4.83 | -6.11 |
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Drawdowns
PIGDX vs. QAMNX - Drawdown Comparison
The maximum PIGDX drawdown since its inception was -79.94%, which is greater than QAMNX's maximum drawdown of -17.97%. Use the drawdown chart below to compare losses from any high point for PIGDX and QAMNX.
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Drawdown Indicators
| PIGDX | QAMNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.94% | -17.97% | -61.97% |
Max Drawdown (1Y)Largest decline over 1 year | -78.87% | -4.16% | -74.71% |
Max Drawdown (3Y)Largest decline over 3 years | -78.87% | -4.16% | -74.71% |
Max Drawdown (5Y)Largest decline over 5 years | -79.94% | — | — |
Current DrawdownCurrent decline from peak | -77.31% | 0.00% | -77.31% |
Average DrawdownAverage peak-to-trough decline | -18.06% | -5.03% | -13.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 57.49% | 1.87% | +55.62% |
Volatility
PIGDX vs. QAMNX - Volatility Comparison
Federated Hermes International Growth Fund (PIGDX) has a higher volatility of 6.88% compared to Federated Hermes MDT Market Neutral A (QAMNX) at 1.55%. This indicates that PIGDX's price experiences larger fluctuations and is considered to be riskier than QAMNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIGDX | QAMNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.88% | 1.55% | +5.33% |
Volatility (6M)Calculated over the trailing 6-month period | 16.97% | 4.50% | +12.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 82.30% | 6.74% | +75.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.27% | 13.68% | +25.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.87% | 13.68% | +17.19% |
PIGDX vs. QAMNX - Expense Ratio Comparison
PIGDX has a 0.84% expense ratio, which is lower than QAMNX's 1.86% expense ratio.
Dividends
PIGDX vs. QAMNX - Dividend Comparison
PIGDX has not paid dividends to shareholders, while QAMNX's dividend yield for the trailing twelve months is around 1.46%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PIGDX Federated Hermes International Growth Fund | 0.00% | 0.00% | 1.98% | 1.24% | 2.03% | 3.98% | 4.51% | 4.64% | 16.19% | 1.26% |
QAMNX Federated Hermes MDT Market Neutral A | 1.46% | 1.53% | 1.85% | 5.89% | 11.74% | 20.80% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PIGDX and QAMNX 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.
PIGDX has higher volatility (6.88%) compared to QAMNX (1.55%). In terms of maximum drawdown, PIGDX dropped -79.94% vs QAMNX's -17.97%.
QAMNX currently has the higher Sharpe Ratio (1.34 vs -0.93), 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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