VRNIX vs. QIACX

Last updated Jun 3, 2026

VRNIX (Vanguard Russell 1000 Index Fund Institutional Shares) and QIACX (Federated Hermes MDT All Cap Core Fund) are both Large Cap Blend Equities funds. Over the past 10 years, VRNIX returned 15.49%/yr vs 17.01%/yr for QIACX. Their correlation of 0.91 suggests significant overlap in exposure. VRNIX charges 0.07%/yr vs 0.75%/yr for QIACX.

Performance

VRNIX vs. QIACX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Russell 1000 Index Fund Institutional Shares (VRNIX) and Federated Hermes MDT All Cap Core Fund (QIACX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VRNIX achieves a 11.16% return, which is significantly higher than QIACX's 8.03% return. Over the past 10 years, VRNIX has underperformed QIACX with an annualized return of 15.49%, while QIACX has yielded a comparatively higher 17.01% annualized return.

VRNIX

• 1D: 0.27%
• 1M: 5.10%
• YTD: 11.16%
• 6M: 11.50%
• 1Y: 28.62%
• 3Y*: 22.21%
• 5Y*: 13.64%
• 10Y*: 15.49%

QIACX

• 1D: 0.60%
• 1M: 3.49%
• YTD: 8.03%
• 6M: 10.30%
• 1Y: 24.59%
• 3Y*: 25.32%
• 5Y*: 15.98%
• 10Y*: 17.01%

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

VRNIX vs. QIACX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VRNIX Vanguard Russell 1000 Index Fund Institutional Shares	11.16%	16.94%	24.44%	26.49%	-19.19%	28.64%	20.90%	31.36%	-4.84%	21.58%
QIACX Federated Hermes MDT All Cap Core Fund	8.03%	21.15%	31.07%	23.52%	-14.16%	31.40%	21.95%	26.91%	-2.64%	21.07%

Correlation

The correlation between VRNIX and QIACX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Sep 23, 2010	0.91

Over the past year, the correlation between VRNIX and QIACX has dropped to 0.30 - well below their long-term average of 0.91, suggesting their price drivers have been diverging.

Return for Risk

VRNIX vs. QIACX — Risk / Return Rank

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

VRNIX

VRNIX Risk / Return Rank: 70
VRNIX Sharpe Ratio Rank: 70
VRNIX Sortino Ratio Rank: 63
VRNIX Omega Ratio Rank: 62
VRNIX Calmar Ratio Rank: 72
VRNIX Martin Ratio Rank: 81

QIACX

QIACX Risk / Return Rank: 60
QIACX Sharpe Ratio Rank: 51
QIACX Sortino Ratio Rank: 54
QIACX Omega Ratio Rank: 65
QIACX Calmar Ratio Rank: 57
QIACX Martin Ratio Rank: 71

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.

VRNIX vs. QIACX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 1000 Index Fund Institutional Shares (VRNIX) and Federated Hermes MDT All Cap Core Fund (QIACX). 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.

	VRNIX	QIACX	Difference
Sharpe ratio Return per unit of total volatility	2.44	2.13	+0.32
Sortino ratio Return per unit of downside risk	3.33	3.09	+0.24
Omega ratio Gain probability vs. loss probability	1.44	1.45	-0.01
Calmar ratio Return relative to maximum drawdown	3.29	2.92	+0.37
Martin ratio Return relative to average drawdown	15.24	13.70	+1.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VRNIX vs. QIACX - Sharpe Ratio Comparison

The current VRNIX Sharpe Ratio is 2.44, which is comparable to the QIACX Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of VRNIX and QIACX, 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

	VRNIX	QIACX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	2.13	+0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.92	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.91	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.58	+0.28

Drawdowns

VRNIX vs. QIACX - Drawdown Comparison

The maximum VRNIX drawdown since its inception was -34.57%, smaller than the maximum QIACX drawdown of -60.11%. Use the drawdown chart below to compare losses from any high point for VRNIX and QIACX.

Drawdown Indicators

	VRNIX	QIACX	Difference
Max Drawdown Largest peak-to-trough decline	-34.57%	-60.11%	+25.54%
Max Drawdown (1Y) Largest decline over 1 year	-8.85%	-8.65%	-0.20%
Max Drawdown (3Y) Largest decline over 3 years	-19.40%	-19.41%	+0.01%
Max Drawdown (5Y) Largest decline over 5 years	-25.14%	-23.05%	-2.09%
Max Drawdown (10Y) Largest decline over 10 years	-34.57%	-36.47%	+1.90%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.90%	-9.30%	+5.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	1.84%	+0.07%

Volatility

VRNIX vs. QIACX - Volatility Comparison

Vanguard Russell 1000 Index Fund Institutional Shares (VRNIX) has a higher volatility of 2.85% compared to Federated Hermes MDT All Cap Core Fund (QIACX) at 2.56%. This indicates that VRNIX's price experiences larger fluctuations and is considered to be riskier than QIACX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VRNIX	QIACX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	2.56%	+0.29%
Volatility (6M) Calculated over the trailing 6-month period	9.04%	9.51%	-0.47%
Volatility (1Y) Calculated over the trailing 1-year period	11.99%	12.01%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.24%	17.38%	-0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.28%	18.70%	-0.42%

VRNIX vs. QIACX - Expense Ratio Comparison

VRNIX has a 0.07% expense ratio, which is lower than QIACX's 0.75% expense ratio.

Dividends

VRNIX vs. QIACX - Dividend Comparison

VRNIX's dividend yield for the trailing twelve months is around 0.99%, less than QIACX's 4.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QIACX Federated Hermes MDT All Cap Core Fund	4.24%	4.58%	8.65%	1.40%	10.90%	17.44%	3.01%	3.34%	8.60%	0.69%	1.12%	1.25%
VRNIX Vanguard Russell 1000 Index Fund Institutional Shares	0.99%	0.82%	1.21%	1.41%	1.59%	2.86%	1.46%	1.65%	2.00%	1.73%	1.93%	1.92%

Frequently Asked Questions

Can I hold both VRNIX and QIACX in my portfolio?

VRNIX and QIACX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VRNIX or QIACX?

VRNIX has higher volatility (2.85%) compared to QIACX (2.56%). In terms of maximum drawdown, VRNIX dropped -34.57% vs QIACX's -60.11%.

Which has better risk-adjusted returns?

VRNIX currently has the higher Sharpe Ratio (2.44 vs 2.13), 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.