QAMNX vs. HHCZX

Last updated Apr 1, 2026

Compare and contrast key facts about Federated Hermes MDT Market Neutral A (QAMNX) and NexPoint Event Driven Fund (HHCZX).

QAMNX is managed by Federated. It was launched on Sep 30, 2008. HHCZX is managed by Highland Funds. It was launched on May 4, 2008.

Performance

QAMNX vs. HHCZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Market Neutral A (QAMNX) and NexPoint Event Driven Fund (HHCZX). The values are adjusted to include any dividend payments, if applicable.

QAMNX vs. HHCZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QAMNX Federated Hermes MDT Market Neutral A	1.41%	10.00%	17.33%	4.71%	9.19%	12.29%
HHCZX NexPoint Event Driven Fund	-7.03%	6.52%	7.22%	5.44%	-5.49%	-2.04%

Returns By Period

In the year-to-date period, QAMNX achieves a 1.41% return, which is significantly higher than HHCZX's -7.03% return.

QAMNX

• 1D: 0.33%
• 1M: -0.28%
• YTD: 1.41%
• 6M: 5.59%
• 1Y: 7.87%
• 3Y*: 10.38%
• 5Y*: —
• 10Y*: —

HHCZX

• 1D: -0.18%
• 1M: -8.24%
• YTD: -7.03%
• 6M: -4.80%
• 1Y: -0.12%
• 3Y*: 3.98%
• 5Y*: -2.65%
• 10Y*: 3.97%

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

QAMNX vs. HHCZX - Expense Ratio Comparison

QAMNX has a 1.86% expense ratio, which is higher than HHCZX's 1.69% expense ratio.

QAMNX

Federated Hermes MDT Market Neutral A

HHCZX

NexPoint Event Driven Fund

Return for Risk

QAMNX vs. HHCZX — Risk / Return Rank

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

QAMNX

QAMNX Risk / Return Rank: 72
QAMNX Sharpe Ratio Rank: 74
QAMNX Sortino Ratio Rank: 80
QAMNX Omega Ratio Rank: 76
QAMNX Calmar Ratio Rank: 77
QAMNX Martin Ratio Rank: 54

HHCZX

HHCZX Risk / Return Rank: 5
HHCZX Sharpe Ratio Rank: 5
HHCZX Sortino Ratio Rank: 5
HHCZX Omega Ratio Rank: 5
HHCZX Calmar Ratio Rank: 6
HHCZX Martin Ratio Rank: 6

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. HHCZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Market Neutral A (QAMNX) and NexPoint Event Driven Fund (HHCZX). 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	HHCZX	Difference
Sharpe ratio Return per unit of total volatility	1.30	-0.00	+1.30
Sortino ratio Return per unit of downside risk	2.00	0.14	+1.86
Omega ratio Gain probability vs. loss probability	1.28	1.02	+0.26
Calmar ratio Return relative to maximum drawdown	1.81	-0.03	+1.83
Martin ratio Return relative to average drawdown	5.23	-0.08	+5.31
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. HHCZX - Sharpe Ratio Comparison

The current QAMNX Sharpe Ratio is 1.30, which is higher than the HHCZX Sharpe Ratio of -0.00. The chart below compares the historical Sharpe Ratios of QAMNX and HHCZX, 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	HHCZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.30	-0.00	+1.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.25	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.24	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	0.27	+0.60

Correlation

The correlation between QAMNX and HHCZX is -0.04. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

QAMNX vs. HHCZX - Dividend Comparison

QAMNX's dividend yield for the trailing twelve months is around 1.51%, while HHCZX has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QAMNX Federated Hermes MDT Market Neutral A	1.51%	1.53%	1.85%	5.89%	11.74%	20.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HHCZX NexPoint Event Driven Fund	0.00%	0.00%	0.56%	2.63%	0.00%	0.00%	0.00%	0.00%	0.00%	1.06%	0.00%	4.27%

Drawdowns

QAMNX vs. HHCZX - Drawdown Comparison

The maximum QAMNX drawdown since its inception was -17.97%, smaller than the maximum HHCZX drawdown of -33.57%. Use the drawdown chart below to compare losses from any high point for QAMNX and HHCZX.

Drawdown Indicators

	QAMNX	HHCZX	Difference
Max Drawdown Largest peak-to-trough decline	-17.97%	-33.57%	+15.60%
Max Drawdown (1Y) Largest decline over 1 year	-4.16%	-15.31%	+11.15%
Max Drawdown (5Y) Largest decline over 5 years	—	-31.21%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.15%	—
Current Drawdown Current decline from peak	-0.37%	-18.41%	+18.04%
Average Drawdown Average peak-to-trough decline	-5.26%	-13.98%	+8.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	5.41%	-3.97%

Volatility

QAMNX vs. HHCZX - Volatility Comparison

The current volatility for Federated Hermes MDT Market Neutral A (QAMNX) is 1.07%, while NexPoint Event Driven Fund (HHCZX) has a volatility of 3.62%. This indicates that QAMNX experiences smaller price fluctuations and is considered to be less risky than HHCZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QAMNX	HHCZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	3.62%	-2.55%
Volatility (6M) Calculated over the trailing 6-month period	4.88%	15.31%	-10.43%
Volatility (1Y) Calculated over the trailing 1-year period	6.39%	16.39%	-10.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.05%	10.86%	+3.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.05%	16.37%	-2.32%