QQMNX vs. BRGOX
QQMNX (Federated Hermes MDT Market Neutral Fund Institutional Shares) and BRGOX (Bridgeway Global Opportunities Fund Class N) are both Equity Market Neutral funds. Both are actively managed. Over the past year, QQMNX returned 4.99% vs 17.83% for BRGOX. At a 0.11 correlation, their price movements are largely independent. QQMNX charges 1.86%/yr vs 1.63%/yr for BRGOX.
Performance
QQMNX vs. BRGOX - Performance Comparison
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Returns By Period
In the year-to-date period, QQMNX achieves a 1.50% return, which is significantly lower than BRGOX's 5.78% return.
QQMNX
- 1D
- -0.18%
- 1M
- 2.01%
- 6M
- 2.91%
- YTD
- 1.50%
- 1Y
- 4.99%
- 3Y*
- 11.56%
- 5Y*
- —
- 10Y*
- —
BRGOX
- 1D
- 0.18%
- 1M
- -0.36%
- 6M
- 4.79%
- YTD
- 5.78%
- 1Y
- 17.83%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQMNX vs. BRGOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QQMNX Federated Hermes MDT Market Neutral Fund Institutional Shares | 1.50% | 10.00% |
BRGOX Bridgeway Global Opportunities Fund Class N | 5.78% | 14.76% |
Correlation
The correlation between QQMNX and BRGOX is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2025 | 0.11 |
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Return for Risk
QQMNX vs. BRGOX — Risk / Return Rank
QQMNX
BRGOX
QQMNX vs. BRGOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Market Neutral Fund Institutional Shares (QQMNX) and Bridgeway Global Opportunities Fund Class N (BRGOX). 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.
| QQMNX | BRGOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.91 | ||
| Sortino ratioReturn per unit of downside risk | -2.95 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.47 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 4.18 | -3.07 |
| Martin ratioReturn relative to average drawdown | 2.54 | 10.87 | -8.33 |
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Drawdowns
QQMNX vs. BRGOX - Drawdown Comparison
The maximum QQMNX drawdown since its inception was -17.50%, which is greater than BRGOX's maximum drawdown of -4.37%. Use the drawdown chart below to compare losses from any high point for QQMNX and BRGOX.
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Drawdown Indicators
| QQMNX | BRGOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.50% | -4.37% | -13.13% |
Max Drawdown (1Y)Largest decline over 1 year | -4.37% | -4.37% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -4.37% | — | — |
Current DrawdownCurrent decline from peak | -0.58% | -2.45% | +1.87% |
Average DrawdownAverage peak-to-trough decline | -4.79% | -1.21% | -3.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.91% | 1.66% | +0.25% |
Volatility
QQMNX vs. BRGOX - Volatility Comparison
The current volatility for Federated Hermes MDT Market Neutral Fund Institutional Shares (QQMNX) is 1.80%, while Bridgeway Global Opportunities Fund Class N (BRGOX) has a volatility of 2.86%. This indicates that QQMNX experiences smaller price fluctuations and is considered to be less risky than BRGOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQMNX | BRGOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.80% | 2.86% | -1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 4.68% | 5.31% | -0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.75% | 6.96% | -0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.43% | 7.91% | +5.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.43% | 7.91% | +5.52% |
QQMNX vs. BRGOX - Expense Ratio Comparison
QQMNX has a 1.86% expense ratio, which is higher than BRGOX's 1.63% expense ratio.
Dividends
QQMNX vs. BRGOX - Dividend Comparison
QQMNX's dividend yield for the trailing twelve months is around 1.72%, less than BRGOX's 10.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BRGOX Bridgeway Global Opportunities Fund Class N | 10.74% | 11.36% | 0.00% | 0.00% | 0.00% | 0.00% |
QQMNX Federated Hermes MDT Market Neutral Fund Institutional Shares | 1.72% | 1.74% | 1.86% | 5.94% | 11.53% | 20.33% |
Frequently Asked Questions
QQMNX and BRGOX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRGOX has higher volatility (2.86%) compared to QQMNX (1.80%). In terms of maximum drawdown, QQMNX dropped -17.50% vs BRGOX's -4.37%.
BRGOX currently has the higher Sharpe Ratio (2.63 vs 0.72), 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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