QISGX vs. FGROX

Last updated Apr 2, 2026

Compare and contrast key facts about Federated Hermes MDT Small Cap Growth Fund (QISGX) and Emerald Growth Fund Institutional Class (FGROX).

QISGX is managed by Federated. It was launched on Sep 15, 2005. FGROX is a passively managed fund by Emerald that tracks the performance of the Russell 2000 Growth Index. It was launched on Oct 21, 2008.

Performance

QISGX vs. FGROX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Small Cap Growth Fund (QISGX) and Emerald Growth Fund Institutional Class (FGROX). The values are adjusted to include any dividend payments, if applicable.

QISGX vs. FGROX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QISGX Federated Hermes MDT Small Cap Growth Fund	-3.30%	17.72%	15.63%	19.63%	-27.94%	18.14%	29.91%	21.14%	-6.33%	25.17%
FGROX Emerald Growth Fund Institutional Class	-0.63%	31.85%	20.04%	19.04%	-24.42%	3.91%	38.92%	28.71%	-11.85%	28.11%

Returns By Period

In the year-to-date period, QISGX achieves a -3.30% return, which is significantly lower than FGROX's -0.63% return. Over the past 10 years, QISGX has underperformed FGROX with an annualized return of 11.53%, while FGROX has yielded a comparatively higher 13.31% annualized return.

QISGX

• 1D: 4.16%
• 1M: -5.52%
• YTD: -3.30%
• 6M: -0.83%
• 1Y: 28.16%
• 3Y*: 13.63%
• 5Y*: 4.72%
• 10Y*: 11.53%

FGROX

• 1D: 5.54%
• 1M: -8.90%
• YTD: -0.63%
• 6M: 5.05%
• 1Y: 49.73%
• 3Y*: 21.60%
• 5Y*: 6.78%
• 10Y*: 13.31%

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

QISGX vs. FGROX - Expense Ratio Comparison

QISGX has a 0.89% expense ratio, which is higher than FGROX's 0.78% expense ratio.

QISGX

Federated Hermes MDT Small Cap Growth Fund

FGROX

Emerald Growth Fund Institutional Class

Return for Risk

QISGX vs. FGROX — Risk / Return Rank

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

QISGX

QISGX Risk / Return Rank: 66
QISGX Sharpe Ratio Rank: 66
QISGX Sortino Ratio Rank: 70
QISGX Omega Ratio Rank: 66
QISGX Calmar Ratio Rank: 70
QISGX Martin Ratio Rank: 60

FGROX

FGROX Risk / Return Rank: 85
FGROX Sharpe Ratio Rank: 84
FGROX Sortino Ratio Rank: 82
FGROX Omega Ratio Rank: 75
FGROX Calmar Ratio Rank: 91
FGROX Martin Ratio Rank: 91

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.

QISGX vs. FGROX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Small Cap Growth Fund (QISGX) and Emerald Growth Fund Institutional Class (FGROX). 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.

	QISGX	FGROX	Difference
Sharpe ratio Return per unit of total volatility	1.27	1.71	-0.45
Sortino ratio Return per unit of downside risk	1.90	2.31	-0.41
Omega ratio Gain probability vs. loss probability	1.27	1.31	-0.04
Calmar ratio Return relative to maximum drawdown	1.84	2.88	-1.05
Martin ratio Return relative to average drawdown	6.52	11.28	-4.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QISGX vs. FGROX - Sharpe Ratio Comparison

The current QISGX Sharpe Ratio is 1.27, which is comparable to the FGROX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of QISGX and FGROX, 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

	QISGX	FGROX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.27	1.71	-0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.27	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.53	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.46	-0.11

Correlation

The correlation between QISGX and FGROX is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

QISGX vs. FGROX - Dividend Comparison

QISGX's dividend yield for the trailing twelve months is around 4.05%, less than FGROX's 11.46% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QISGX Federated Hermes MDT Small Cap Growth Fund	4.05%	3.91%	0.00%	0.05%	3.63%	29.34%	0.45%	0.00%	7.03%	5.09%	1.61%	18.51%
FGROX Emerald Growth Fund Institutional Class	11.46%	11.39%	13.92%	5.91%	8.13%	17.87%	8.04%	1.38%	11.36%	0.00%	0.00%	0.00%

Drawdowns

QISGX vs. FGROX - Drawdown Comparison

The maximum QISGX drawdown since its inception was -60.75%, which is greater than FGROX's maximum drawdown of -41.48%. Use the drawdown chart below to compare losses from any high point for QISGX and FGROX.

Drawdown Indicators

	QISGX	FGROX	Difference
Max Drawdown Largest peak-to-trough decline	-60.75%	-41.48%	-19.27%
Max Drawdown (1Y) Largest decline over 1 year	-13.23%	-15.38%	+2.15%
Max Drawdown (5Y) Largest decline over 5 years	-38.60%	-38.52%	-0.08%
Max Drawdown (10Y) Largest decline over 10 years	-45.08%	-41.48%	-3.60%
Current Drawdown Current decline from peak	-9.62%	-9.61%	-0.01%
Average Drawdown Average peak-to-trough decline	-13.99%	-10.33%	-3.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.73%	3.93%	-0.20%

Volatility

QISGX vs. FGROX - Volatility Comparison

The current volatility for Federated Hermes MDT Small Cap Growth Fund (QISGX) is 8.17%, while Emerald Growth Fund Institutional Class (FGROX) has a volatility of 11.38%. This indicates that QISGX experiences smaller price fluctuations and is considered to be less risky than FGROX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QISGX	FGROX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.17%	11.38%	-3.21%
Volatility (6M) Calculated over the trailing 6-month period	16.54%	20.13%	-3.59%
Volatility (1Y) Calculated over the trailing 1-year period	22.52%	29.20%	-6.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.48%	25.38%	-0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.65%	25.04%	-0.39%