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SINCX vs. QAMNX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SINCX vs. QAMNX

Last updated Jun 23, 2026

SINCX (Federated Hermes Strategic Income Fund) and QAMNX (Federated Hermes MDT Market Neutral A) are both mutual funds - SINCX is a Multisector Bonds fund managed by Federated, while QAMNX is a Long-Short fund managed by Federated. Over the past 3 years, SINCX returned 6.65%/yr vs 10.80%/yr for QAMNX. At a correlation of -0.03, they often move in opposite directions. SINCX charges 1.69%/yr vs 1.86%/yr for QAMNX.

Performance

SINCX vs. QAMNX - Performance Comparison

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

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Returns By Period

In the year-to-date period, SINCX achieves a 1.44% return, which is significantly higher than QAMNX's -1.55% return.

SINCX

1D
0.12%
1M
0.84%
YTD
1.44%
6M
1.63%
1Y
6.68%
3Y*
6.65%
5Y*
1.32%
10Y*
3.11%

QAMNX

1D
-0.71%
1M
-0.90%
YTD
-1.55%
6M
-1.85%
1Y
2.70%
3Y*
10.80%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SINCX vs. QAMNX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
SINCX
Federated Hermes Strategic Income Fund		1.44%7.91%4.64%8.66%-14.44%-0.56%
QAMNX
Federated Hermes MDT Market Neutral A		-1.55%10.00%17.33%4.71%9.19%12.29%

Correlation

The correlation between SINCX and QAMNX is -0.03, 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

-0.03

Correlation (3Y)
Calculated over the trailing 3-year period

-0.02

Correlation (All Time)
Calculated using the full available price history since Sep 22, 2021

-0.03

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Federated Hermes Strategic Income Fund

Federated Hermes MDT Market Neutral A

Often compared with SINCX:
SINCX vs. KAUFXSINCX vs. CRMVXSINCX vs. DBSCXSINCX vs. QILGXSINCX vs. NWXHXSINCX vs. FIHBXSINCX vs. SVAIX
Often compared with QAMNX:
QAMNX vs. BDMIXQAMNX vs. VMNFXQAMNX vs. QLEIXQAMNX vs. GTAPXQAMNX vs. SNOIXQAMNX vs. QMNNXQAMNX vs. SPY

Return for Risk

SINCX vs. QAMNX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SINCX
SINCX Risk / Return Rank: 5454
Overall Rank
SINCX Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
SINCX Sortino Ratio Rank: 4747
Sortino Ratio Rank
SINCX Omega Ratio Rank: 6969
Omega Ratio Rank
SINCX Calmar Ratio Rank: 5353
Calmar Ratio Rank
SINCX Martin Ratio Rank: 5656
Martin Ratio Rank
QAMNX
QAMNX Risk / Return Rank: 66
Overall Rank
QAMNX Sharpe Ratio Rank: 66
Sharpe Ratio Rank
QAMNX Sortino Ratio Rank: 55
Sortino Ratio Rank
QAMNX Omega Ratio Rank: 66
Omega Ratio Rank
QAMNX Calmar Ratio Rank: 77
Calmar Ratio Rank
QAMNX Martin Ratio Rank: 66
Martin Ratio Rank
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.

SINCX vs. QAMNX - Risk-Adjusted Trends Comparison

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

SINCXQAMNXDifference
Sharpe ratioReturn per unit of total volatility
1.86
0.40

+1.47

Sortino ratioReturn per unit of downside risk
2.66
0.63

+2.03

Omega ratioGain probability vs. loss probability

1.42

1.08

+0.34

Calmar ratioReturn relative to maximum drawdown

2.66

0.64

+2.02

Martin ratioReturn relative to average drawdown

10.57

1.44

+9.13

SINCX vs. QAMNX - Sharpe Ratio Comparison

The current SINCX Sharpe Ratio is 1.86, which is higher than the QAMNX Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of SINCX and QAMNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SINCX vs. QAMNX - Drawdown Comparison

The maximum SINCX drawdown since its inception was -22.41%, which is greater than QAMNX's maximum drawdown of -17.97%. Use the drawdown chart below to compare losses from any high point for SINCX and QAMNX.

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Drawdown Indicators

SINCXQAMNXDifference

Max Drawdown

Largest peak-to-trough decline

-22.41%

-17.97%

-4.44%

Max Drawdown (1Y)

Largest decline over 1 year

-2.57%

-4.16%

+1.59%

Max Drawdown (3Y)

Largest decline over 3 years

-5.54%

-4.16%

-1.38%

Max Drawdown (5Y)

Largest decline over 5 years

-19.36%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-19.36%

—

—

Current Drawdown

Current decline from peak

-0.24%

-3.55%

+3.31%

Average Drawdown

Average peak-to-trough decline

-2.43%

-5.12%

+2.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.65%

1.85%

-1.20%

Volatility

SINCX vs. QAMNX - Volatility Comparison

The current volatility for Federated Hermes Strategic Income Fund (SINCX) is 1.04%, while Federated Hermes MDT Market Neutral A (QAMNX) has a volatility of 2.24%. This indicates that SINCX experiences smaller price fluctuations and is considered to be less risky than QAMNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SINCXQAMNXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.04%

2.24%

-1.20%

Volatility (6M)

Calculated over the trailing 6-month period

3.12%

5.24%

-2.12%

Volatility (1Y)

Calculated over the trailing 1-year period

3.67%

6.70%

-3.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.28%

13.81%

-8.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.27%

13.81%

-8.54%

SINCX vs. QAMNX - Expense Ratio Comparison

SINCX has a 1.69% expense ratio, which is lower than QAMNX's 1.86% expense ratio.

Dividends

SINCX vs. QAMNX - Dividend Comparison

SINCX's dividend yield for the trailing twelve months is around 4.19%, more than QAMNX's 1.55% yield.

PositionTTM20252024202320222021202020192018201720162015
QAMNX
Federated Hermes MDT Market Neutral A		1.55%1.53%1.85%5.89%11.74%20.80%0.00%0.00%0.00%0.00%0.00%0.00%
SINCX
Federated Hermes Strategic Income Fund		4.19%3.96%4.05%4.03%3.81%2.59%2.60%2.63%3.49%3.23%3.44%3.01%

Frequently Asked Questions

SINCX and QAMNX have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QAMNX has higher volatility (2.24%) compared to SINCX (1.04%). In terms of maximum drawdown, SINCX dropped -22.41% vs QAMNX's -17.97%.

SINCX currently has the higher Sharpe Ratio (1.86 vs 0.40), 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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