QISGX vs. NESGX

Last updated Jun 5, 2026

QISGX (Federated Hermes MDT Small Cap Growth Fund) and NESGX (Needham Small Cap Growth Fund) are both Small Cap Growth Equities funds. Over the past 10 years, QISGX returned 13.48%/yr vs 20.06%/yr for NESGX. Their correlation of 0.81 suggests significant overlap in exposure. QISGX charges 0.89%/yr vs 1.85%/yr for NESGX.

Performance

QISGX vs. NESGX - Performance Comparison

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

Returns By Period

In the year-to-date period, QISGX achieves a 17.51% return, which is significantly lower than NESGX's 80.30% return. Over the past 10 years, QISGX has underperformed NESGX with an annualized return of 13.48%, while NESGX has yielded a comparatively higher 20.06% annualized return.

QISGX

• 1D: -1.27%
• 1M: 1.44%
• YTD: 17.51%
• 6M: 17.13%
• 1Y: 42.60%
• 3Y*: 20.67%
• 5Y*: 8.79%
• 10Y*: 13.48%

NESGX

• 1D: -0.81%
• 1M: 19.56%
• YTD: 80.30%
• 6M: 75.15%
• 1Y: 121.15%
• 3Y*: 32.75%
• 5Y*: 9.82%
• 10Y*: 20.06%

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

QISGX vs. NESGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QISGX Federated Hermes MDT Small Cap Growth Fund	17.51%	17.72%	15.63%	19.63%	-27.94%	18.14%	29.91%	21.14%	-6.33%	25.17%
NESGX Needham Small Cap Growth Fund	80.30%	10.50%	12.76%	5.68%	-30.21%	10.59%	71.90%	54.42%	-5.43%	11.96%

Correlation

The correlation between QISGX and NESGX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jan 4, 2006	0.81

Over the past year, the correlation between QISGX and NESGX has dropped to 0.31 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.

Return for Risk

QISGX vs. NESGX — Risk / Return Rank

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

QISGX

QISGX Risk / Return Rank: 64
QISGX Sharpe Ratio Rank: 58
QISGX Sortino Ratio Rank: 58
QISGX Omega Ratio Rank: 60
QISGX Calmar Ratio Rank: 77
QISGX Martin Ratio Rank: 67

NESGX

NESGX Risk / Return Rank: 94
NESGX Sharpe Ratio Rank: 98
NESGX Sortino Ratio Rank: 90
NESGX Omega Ratio Rank: 85
NESGX Calmar Ratio Rank: 97
NESGX Martin Ratio Rank: 98

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. NESGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Small Cap Growth Fund (QISGX) and Needham Small Cap Growth Fund (NESGX). 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	NESGX	Difference
Sharpe ratio: Return per unit of total volatility	2.19	4.08	-1.89
Sortino ratio: Return per unit of downside risk	3.14	4.47	-1.34
Omega ratio: Gain probability vs. loss probability	1.42	1.58	-0.16
Calmar ratio: Return relative to maximum drawdown	3.40	7.16	-3.76
Martin ratio: Return relative to average drawdown	12.74	29.70	-16.96
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. NESGX - Sharpe Ratio Comparison

The current QISGX Sharpe Ratio is 2.19, which is lower than the NESGX Sharpe Ratio of 4.08. The chart below compares the historical Sharpe Ratios of QISGX and NESGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QISGX	NESGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	4.08	-1.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.34	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.78	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.61	-0.22

Drawdowns

QISGX vs. NESGX - Drawdown Comparison

The maximum QISGX drawdown since its inception was -60.75%, which is greater than NESGX's maximum drawdown of -50.29%. Use the drawdown chart below to compare losses from any high point for QISGX and NESGX.

Drawdown Indicators

	QISGX	NESGX	Difference
Max Drawdown Largest peak-to-trough decline	-60.75%	-50.29%	-10.46%
Max Drawdown (1Y) Largest decline over 1 year	-13.23%	-17.16%	+3.93%
Max Drawdown (3Y) Largest decline over 3 years	-27.28%	-35.27%	+7.99%
Max Drawdown (5Y) Largest decline over 5 years	-38.60%	-50.05%	+11.45%
Max Drawdown (10Y) Largest decline over 10 years	-45.08%	-50.29%	+5.21%
Current Drawdown Current decline from peak	-1.53%	-0.81%	-0.72%
Average Drawdown Average peak-to-trough decline	-13.88%	-11.66%	-2.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	4.13%	-0.60%

Volatility

QISGX vs. NESGX - Volatility Comparison

The current volatility for Federated Hermes MDT Small Cap Growth Fund (QISGX) is 6.22%, while Needham Small Cap Growth Fund (NESGX) has a volatility of 8.83%. This indicates that QISGX experiences smaller price fluctuations and is considered to be less risky than NESGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QISGX	NESGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.22%	8.83%	-2.61%
Volatility (6M) Calculated over the trailing 6-month period	15.83%	21.09%	-5.26%
Volatility (1Y) Calculated over the trailing 1-year period	20.54%	30.26%	-9.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.48%	29.27%	-4.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.69%	25.83%	-1.14%

QISGX vs. NESGX - Expense Ratio Comparison

QISGX has a 0.89% expense ratio, which is lower than NESGX's 1.85% expense ratio.

Dividends

QISGX vs. NESGX - Dividend Comparison

QISGX's dividend yield for the trailing twelve months is around 3.33%, while NESGX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NESGX Needham Small Cap Growth Fund	0.00%	0.00%	0.00%	0.00%	4.16%	25.09%	13.69%	8.43%	22.26%	8.94%	6.67%	2.52%
QISGX Federated Hermes MDT Small Cap Growth Fund	3.33%	3.91%	0.00%	0.05%	3.63%	29.34%	0.45%	0.00%	7.03%	5.09%	1.61%	18.51%

Frequently Asked Questions

Can I hold both QISGX and NESGX in my portfolio?

QISGX and NESGX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QISGX or NESGX?

NESGX has higher volatility (8.83%) compared to QISGX (6.22%). In terms of maximum drawdown, QISGX dropped -60.75% vs NESGX's -50.29%.

Which has better risk-adjusted returns?

NESGX currently has the higher Sharpe Ratio (4.08 vs 2.19), 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.