TRAIX vs. QIBGX

Last updated Jun 5, 2026

TRAIX (T. Rowe Price Capital Appreciation Fund - I Class) and QIBGX (Federated Hermes MDT Balanced Fund) are both Diversified Portfolio funds. Over the past 10 years, TRAIX returned 11.35%/yr vs 11.23%/yr for QIBGX. Their correlation of 0.82 suggests significant overlap in exposure. TRAIX charges 0.59%/yr vs 1.06%/yr for QIBGX.

Performance

TRAIX vs. QIBGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Capital Appreciation Fund - I Class (TRAIX) and Federated Hermes MDT Balanced Fund (QIBGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRAIX achieves a 5.57% return, which is significantly higher than QIBGX's 5.27% return. Both investments have delivered pretty close results over the past 10 years, with TRAIX having a 11.35% annualized return and QIBGX not far behind at 11.23%.

TRAIX

• 1D: -0.24%
• 1M: 1.53%
• YTD: 5.57%
• 6M: 5.68%
• 1Y: 14.47%
• 3Y*: 13.54%
• 5Y*: 8.89%
• 10Y*: 11.35%

QIBGX

• 1D: -0.51%
• 1M: 1.51%
• YTD: 5.27%
• 6M: 6.42%
• 1Y: 15.61%
• 3Y*: 19.02%
• 5Y*: 10.52%
• 10Y*: 11.23%

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

TRAIX vs. QIBGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRAIX T. Rowe Price Capital Appreciation Fund - I Class	5.57%	12.57%	12.64%	19.01%	-11.89%	18.59%	18.28%	24.71%	0.76%	15.45%
QIBGX Federated Hermes MDT Balanced Fund	5.27%	14.68%	28.30%	14.26%	-13.54%	17.43%	16.17%	19.00%	-2.96%	14.12%

Correlation

The correlation between TRAIX and QIBGX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.82

Over the past year, the correlation between TRAIX and QIBGX has dropped to 0.34 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.

Return for Risk

TRAIX vs. QIBGX — Risk / Return Rank

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

TRAIX

TRAIX Risk / Return Rank: 46
TRAIX Sharpe Ratio Rank: 46
TRAIX Sortino Ratio Rank: 46
TRAIX Omega Ratio Rank: 47
TRAIX Calmar Ratio Rank: 39
TRAIX Martin Ratio Rank: 50

QIBGX

QIBGX Risk / Return Rank: 24
QIBGX Sharpe Ratio Rank: 18
QIBGX Sortino Ratio Rank: 19
QIBGX Omega Ratio Rank: 49
QIBGX Calmar Ratio Rank: 18
QIBGX Martin Ratio Rank: 14

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.

TRAIX vs. QIBGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Capital Appreciation Fund - I Class (TRAIX) and Federated Hermes MDT Balanced Fund (QIBGX). 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.

	TRAIX	QIBGX	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.18	+0.82
Sortino ratio: Return per unit of downside risk	2.87	1.78	+1.09
Omega ratio: Gain probability vs. loss probability	1.37	1.37	0.00
Calmar ratio: Return relative to maximum drawdown	2.35	1.46	+0.89
Martin ratio: Return relative to average drawdown	10.23	3.81	+6.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRAIX vs. QIBGX - Sharpe Ratio Comparison

The current TRAIX Sharpe Ratio is 2.00, which is higher than the QIBGX Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of TRAIX and QIBGX, 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

	TRAIX	QIBGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	1.18	+0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.68	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	0.79	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.63	+0.28

Drawdowns

TRAIX vs. QIBGX - Drawdown Comparison

The maximum TRAIX drawdown since its inception was -26.84%, smaller than the maximum QIBGX drawdown of -42.95%. Use the drawdown chart below to compare losses from any high point for TRAIX and QIBGX.

Drawdown Indicators

	TRAIX	QIBGX	Difference
Max Drawdown Largest peak-to-trough decline	-26.84%	-42.95%	+16.11%
Max Drawdown (1Y) Largest decline over 1 year	-6.30%	-11.09%	+4.79%
Max Drawdown (3Y) Largest decline over 3 years	-16.02%	-18.25%	+2.23%
Max Drawdown (5Y) Largest decline over 5 years	-17.00%	-19.32%	+2.32%
Max Drawdown (10Y) Largest decline over 10 years	-26.84%	-25.97%	-0.87%
Current Drawdown Current decline from peak	-0.68%	-1.67%	+0.99%
Average Drawdown Average peak-to-trough decline	-2.83%	-5.59%	+2.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	4.23%	-2.79%

Volatility

TRAIX vs. QIBGX - Volatility Comparison

The current volatility for T. Rowe Price Capital Appreciation Fund - I Class (TRAIX) is 1.95%, while Federated Hermes MDT Balanced Fund (QIBGX) has a volatility of 2.27%. This indicates that TRAIX experiences smaller price fluctuations and is considered to be less risky than QIBGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRAIX	QIBGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.95%	2.27%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	5.78%	12.78%	-7.00%
Volatility (1Y) Calculated over the trailing 1-year period	7.42%	13.68%	-6.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.76%	15.52%	-2.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.74%	14.21%	-1.47%

TRAIX vs. QIBGX - Expense Ratio Comparison

TRAIX has a 0.59% expense ratio, which is lower than QIBGX's 1.06% expense ratio.

Dividends

TRAIX vs. QIBGX - Dividend Comparison

TRAIX's dividend yield for the trailing twelve months is around 8.49%, which matches QIBGX's 8.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QIBGX Federated Hermes MDT Balanced Fund	8.41%	8.86%	20.13%	1.82%	6.92%	9.99%	4.36%	4.33%	10.60%	1.59%	1.86%	1.75%
TRAIX T. Rowe Price Capital Appreciation Fund - I Class	8.49%	8.96%	10.52%	4.28%	9.70%	9.35%	8.08%	5.92%	7.57%	6.96%	3.59%	0.00%

Frequently Asked Questions

Can I hold both TRAIX and QIBGX in my portfolio?

TRAIX and QIBGX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRAIX or QIBGX?

QIBGX has higher volatility (2.27%) compared to TRAIX (1.95%). In terms of maximum drawdown, TRAIX dropped -26.84% vs QIBGX's -42.95%.

Which has better risk-adjusted returns?

TRAIX currently has the higher Sharpe Ratio (2.00 vs 1.18), 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.