QAMNX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Federated Hermes MDT Market Neutral A (QAMNX) and S&P 500 Index (^GSPC).

QAMNX is managed by Federated. It was launched on Sep 30, 2008.

Performance

QAMNX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Market Neutral A (QAMNX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

QAMNX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QAMNX Federated Hermes MDT Market Neutral A	1.36%	10.00%	17.33%	4.71%	9.19%	12.29%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	8.43%

Returns By Period

In the year-to-date period, QAMNX achieves a 1.36% return, which is significantly higher than ^GSPC's -3.95% return.

QAMNX

• 1D: -0.05%
• 1M: -0.05%
• YTD: 1.36%
• 6M: 5.54%
• 1Y: 7.82%
• 3Y*: 10.36%
• 5Y*: —
• 10Y*: —

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

QAMNX vs. ^GSPC — Risk / Return Rank

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

QAMNX

QAMNX Risk / Return Rank: 69
QAMNX Sharpe Ratio Rank: 67
QAMNX Sortino Ratio Rank: 73
QAMNX Omega Ratio Rank: 69
QAMNX Calmar Ratio Rank: 79
QAMNX Martin Ratio Rank: 56

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

QAMNX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Market Neutral A (QAMNX) 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.

	QAMNX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.23	0.92	+0.32
Sortino ratio Return per unit of downside risk	1.90	1.41	+0.49
Omega ratio Gain probability vs. loss probability	1.27	1.21	+0.05
Calmar ratio Return relative to maximum drawdown	1.97	1.41	+0.56
Martin ratio Return relative to average drawdown	5.71	6.61	-0.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QAMNX vs. ^GSPC - Sharpe Ratio Comparison

The current QAMNX Sharpe Ratio is 1.23, which is higher than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of QAMNX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QAMNX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	0.92	+0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	0.46	+0.41

Correlation

The correlation between QAMNX and ^GSPC is 0.05, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

QAMNX vs. ^GSPC - Drawdown Comparison

The maximum QAMNX drawdown since its inception was -17.97%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for QAMNX and ^GSPC.

Drawdown Indicators

	QAMNX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-17.97%	-56.78%	+38.81%
Max Drawdown (1Y) Largest decline over 1 year	-4.16%	-12.14%	+7.98%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.92%	—
Current Drawdown Current decline from peak	-0.42%	-5.78%	+5.36%
Average Drawdown Average peak-to-trough decline	-5.25%	-10.75%	+5.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	2.60%	-1.16%

Volatility

QAMNX vs. ^GSPC - Volatility Comparison

The current volatility for Federated Hermes MDT Market Neutral A (QAMNX) is 1.03%, while S&P 500 Index (^GSPC) has a volatility of 5.37%. This indicates that QAMNX experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QAMNX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	5.37%	-4.34%
Volatility (6M) Calculated over the trailing 6-month period	4.88%	9.55%	-4.67%
Volatility (1Y) Calculated over the trailing 1-year period	6.38%	18.33%	-11.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.04%	16.90%	-2.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.04%	18.05%	-4.01%