TNVIX vs. QISCX

Last updated Jun 25, 2026

TNVIX (1290 GAMCO Small/Mid Cap Value Fund) and QISCX (Federated Hermes MDT Small Cap Core Fund) are both Small Cap Blend Equities funds. Over the past 10 years, TNVIX returned 12.01%/yr vs 13.11%/yr for QISCX. Their correlation of 0.82 suggests significant overlap in exposure. TNVIX charges 0.95%/yr vs 0.89%/yr for QISCX.

Performance

TNVIX vs. QISCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 1290 GAMCO Small/Mid Cap Value Fund (TNVIX) and Federated Hermes MDT Small Cap Core Fund (QISCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TNVIX achieves a 18.84% return, which is significantly higher than QISCX's 17.82% return. Over the past 10 years, TNVIX has underperformed QISCX with an annualized return of 12.01%, while QISCX has yielded a comparatively higher 13.11% annualized return.

TNVIX

• 1D: -0.63%
• 1M: 4.03%
• YTD: 18.84%
• 6M: 16.66%
• 1Y: 34.50%
• 3Y*: 19.33%
• 5Y*: 9.97%
• 10Y*: 12.01%

QISCX

• 1D: -0.94%
• 1M: 3.73%
• YTD: 17.82%
• 6M: 16.05%
• 1Y: 40.52%
• 3Y*: 21.89%
• 5Y*: 9.40%
• 10Y*: 13.11%

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

TNVIX vs. QISCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TNVIX 1290 GAMCO Small/Mid Cap Value Fund	18.84%	13.91%	11.48%	21.31%	-11.37%	21.85%	11.33%	19.81%	-14.34%	19.00%
QISCX Federated Hermes MDT Small Cap Core Fund	17.82%	14.95%	14.82%	20.58%	-23.14%	30.60%	17.00%	18.06%	-11.63%	15.67%

Correlation

The correlation between TNVIX and QISCX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Nov 28, 2014	0.82

Over the past year, the correlation between TNVIX and QISCX has dropped to 0.28 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.

Return for Risk

TNVIX vs. QISCX — Risk / Return Rank

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

TNVIX

TNVIX Risk / Return Rank: 71
TNVIX Sharpe Ratio Rank: 68
TNVIX Sortino Ratio Rank: 71
TNVIX Omega Ratio Rank: 57
TNVIX Calmar Ratio Rank: 83
TNVIX Martin Ratio Rank: 74

QISCX

QISCX Risk / Return Rank: 62
QISCX Sharpe Ratio Rank: 56
QISCX Sortino Ratio Rank: 60
QISCX Omega Ratio Rank: 69
QISCX Calmar Ratio Rank: 74
QISCX Martin Ratio Rank: 51

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.

TNVIX vs. QISCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 1290 GAMCO Small/Mid Cap Value Fund (TNVIX) and Federated Hermes MDT Small Cap Core Fund (QISCX). 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.

	TNVIX	QISCX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	1.89	+0.24
Sortino ratio: Return per unit of downside risk	3.11	2.76	+0.35
Omega ratio: Gain probability vs. loss probability	1.36	1.39	-0.03
Calmar ratio: Return relative to maximum drawdown	3.56	3.02	+0.54
Martin ratio: Return relative to average drawdown	12.56	9.33	+3.23

TNVIX vs. QISCX - Sharpe Ratio Comparison

The current TNVIX Sharpe Ratio is 2.13, which is comparable to the QISCX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of TNVIX and QISCX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TNVIX vs. QISCX - Drawdown Comparison

The maximum TNVIX drawdown since its inception was -42.75%, smaller than the maximum QISCX drawdown of -68.05%. Use the drawdown chart below to compare losses from any high point for TNVIX and QISCX.

Drawdown Indicators

	TNVIX	QISCX	Difference
Max Drawdown Largest peak-to-trough decline	-42.75%	-68.05%	+25.30%
Max Drawdown (1Y) Largest decline over 1 year	-10.14%	-13.48%	+3.34%
Max Drawdown (3Y) Largest decline over 3 years	-20.59%	-26.51%	+5.92%
Max Drawdown (5Y) Largest decline over 5 years	-25.61%	-32.89%	+7.28%
Max Drawdown (10Y) Largest decline over 10 years	-42.75%	-49.02%	+6.27%
Current Drawdown Current decline from peak	-1.16%	-0.94%	-0.22%
Average Drawdown Average peak-to-trough decline	-6.18%	-15.63%	+9.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	4.35%	-1.48%

Volatility

TNVIX vs. QISCX - Volatility Comparison

The current volatility for 1290 GAMCO Small/Mid Cap Value Fund (TNVIX) is 5.08%, while Federated Hermes MDT Small Cap Core Fund (QISCX) has a volatility of 6.22%. This indicates that TNVIX experiences smaller price fluctuations and is considered to be less risky than QISCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TNVIX	QISCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.08%	6.22%	-1.14%
Volatility (6M) Calculated over the trailing 6-month period	12.44%	13.50%	-1.06%
Volatility (1Y) Calculated over the trailing 1-year period	17.00%	21.53%	-4.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.84%	23.30%	-3.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.12%	24.17%	-3.05%

TNVIX vs. QISCX - Expense Ratio Comparison

TNVIX has a 0.95% expense ratio, which is higher than QISCX's 0.89% expense ratio.

Dividends

TNVIX vs. QISCX - Dividend Comparison

TNVIX's dividend yield for the trailing twelve months is around 3.33%, less than QISCX's 6.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QISCX Federated Hermes MDT Small Cap Core Fund	6.76%	7.97%	0.35%	0.31%	3.77%	15.41%	0.44%	0.36%	3.81%	4.49%	0.85%	12.05%
TNVIX 1290 GAMCO Small/Mid Cap Value Fund	3.33%	3.95%	8.76%	3.82%	2.51%	7.05%	0.47%	1.74%	1.58%	1.87%	1.79%	0.00%

Frequently Asked Questions

Can I hold both TNVIX and QISCX in my portfolio?

TNVIX and QISCX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TNVIX or QISCX?

QISCX has higher volatility (6.22%) compared to TNVIX (5.08%). In terms of maximum drawdown, TNVIX dropped -42.75% vs QISCX's -68.05%.

Which has better risk-adjusted returns?

TNVIX currently has the higher Sharpe Ratio (2.13 vs 1.89), 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.