VMNFX vs. QAMNX
Compare and contrast key facts about Vanguard Market Neutral Fund Investor Shares (VMNFX) and Federated Hermes MDT Market Neutral A (QAMNX).
VMNFX is managed by Vanguard. It was launched on Nov 11, 1998. QAMNX is managed by Federated. It was launched on Sep 30, 2008.
Performance
VMNFX vs. QAMNX - Performance Comparison
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VMNFX vs. QAMNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VMNFX Vanguard Market Neutral Fund Investor Shares | 5.66% | 9.27% | 5.78% | 12.23% | 13.48% | 10.95% |
QAMNX Federated Hermes MDT Market Neutral A | 1.36% | 10.00% | 17.33% | 4.71% | 9.19% | 12.29% |
Returns By Period
In the year-to-date period, VMNFX achieves a 5.66% return, which is significantly higher than QAMNX's 1.36% return.
VMNFX
- 1D
- -0.40%
- 1M
- 3.01%
- YTD
- 5.66%
- 6M
- 8.53%
- 1Y
- 15.15%
- 3Y*
- 11.56%
- 5Y*
- 12.36%
- 10Y*
- 3.95%
QAMNX
- 1D
- -0.05%
- 1M
- -0.05%
- YTD
- 1.36%
- 6M
- 5.54%
- 1Y
- 7.82%
- 3Y*
- 10.36%
- 5Y*
- —
- 10Y*
- —
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VMNFX vs. QAMNX - Expense Ratio Comparison
VMNFX has a 1.31% expense ratio, which is lower than QAMNX's 1.86% expense ratio.
Return for Risk
VMNFX vs. QAMNX — Risk / Return Rank
VMNFX
QAMNX
VMNFX vs. QAMNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Market Neutral Fund Investor Shares (VMNFX) 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.
| VMNFX | QAMNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.04 | 1.23 | +0.81 |
Sortino ratioReturn per unit of downside risk | 3.03 | 1.90 | +1.13 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.27 | +0.10 |
Calmar ratioReturn relative to maximum drawdown | 3.25 | 1.97 | +1.28 |
Martin ratioReturn relative to average drawdown | 9.21 | 5.71 | +3.50 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VMNFX | QAMNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.04 | 1.23 | +0.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.73 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.87 | -0.56 |
Correlation
The correlation between VMNFX and QAMNX is 0.28, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
VMNFX vs. QAMNX - Dividend Comparison
VMNFX's dividend yield for the trailing twelve months is around 3.32%, more than QAMNX's 1.51% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMNFX Vanguard Market Neutral Fund Investor Shares | 3.32% | 3.53% | 5.61% | 5.09% | 0.75% | 0.16% | 0.81% | 3.16% | 0.94% | 1.07% | 0.38% | 0.02% |
QAMNX Federated Hermes MDT Market Neutral A | 1.51% | 1.53% | 1.85% | 5.89% | 11.74% | 20.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
VMNFX vs. QAMNX - Drawdown Comparison
The maximum VMNFX drawdown since its inception was -26.42%, which is greater than QAMNX's maximum drawdown of -17.97%. Use the drawdown chart below to compare losses from any high point for VMNFX and QAMNX.
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Drawdown Indicators
| VMNFX | QAMNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.42% | -17.97% | -8.45% |
Max Drawdown (1Y)Largest decline over 1 year | -4.93% | -4.16% | -0.77% |
Max Drawdown (5Y)Largest decline over 5 years | -6.75% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -25.09% | — | — |
Current DrawdownCurrent decline from peak | -0.40% | -0.42% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -8.81% | -5.25% | -3.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 1.44% | +0.30% |
Volatility
VMNFX vs. QAMNX - Volatility Comparison
Vanguard Market Neutral Fund Investor Shares (VMNFX) has a higher volatility of 1.56% compared to Federated Hermes MDT Market Neutral A (QAMNX) at 1.03%. This indicates that VMNFX's price experiences larger fluctuations and is considered to be riskier 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
| VMNFX | QAMNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.56% | 1.03% | +0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 5.83% | 4.88% | +0.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.64% | 6.38% | +1.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.18% | 14.04% | -6.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.34% | 14.04% | -7.70% |