VSFAX vs. FESCX

Last updated Jun 4, 2026

VSFAX (Federated Hermes Clover Small Value Fund) and FESCX (First Eagle Small Cap Opportunity Fund) are both Small Cap Value Equities funds. Over the past 3 years, VSFAX returned 17.89%/yr vs 18.73%/yr for FESCX. A 0.77 correlation means they provide meaningful diversification when combined. VSFAX charges 1.14%/yr vs 1.00%/yr for FESCX.

Performance

VSFAX vs. FESCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Clover Small Value Fund (VSFAX) and First Eagle Small Cap Opportunity Fund (FESCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSFAX achieves a 13.66% return, which is significantly lower than FESCX's 25.67% return.

VSFAX

• 1D: 1.13%
• 1M: 4.64%
• YTD: 13.66%
• 6M: 14.60%
• 1Y: 30.75%
• 3Y*: 17.89%
• 5Y*: 8.53%
• 10Y*: 10.45%

FESCX

• 1D: 1.67%
• 1M: 5.12%
• YTD: 25.67%
• 6M: 25.34%
• 1Y: 49.95%
• 3Y*: 18.73%
• 5Y*: —
• 10Y*: —

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

VSFAX vs. FESCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VSFAX Federated Hermes Clover Small Value Fund	13.66%	7.53%	20.49%	10.43%	-8.82%	7.40%
FESCX First Eagle Small Cap Opportunity Fund	25.67%	13.33%	6.47%	16.75%	-14.05%	1.23%

Correlation

The correlation between VSFAX and FESCX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jul 15, 2021	0.77

Over the past year, the correlation between VSFAX and FESCX has dropped to 0.22 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.

Return for Risk

VSFAX vs. FESCX — Risk / Return Rank

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

VSFAX

VSFAX Risk / Return Rank: 48
VSFAX Sharpe Ratio Rank: 36
VSFAX Sortino Ratio Rank: 40
VSFAX Omega Ratio Rank: 42
VSFAX Calmar Ratio Rank: 68
VSFAX Martin Ratio Rank: 52

FESCX

FESCX Risk / Return Rank: 83
FESCX Sharpe Ratio Rank: 85
FESCX Sortino Ratio Rank: 80
FESCX Omega Ratio Rank: 68
FESCX Calmar Ratio Rank: 93
FESCX Martin Ratio Rank: 91

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.

VSFAX vs. FESCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Clover Small Value Fund (VSFAX) and First Eagle Small Cap Opportunity Fund (FESCX). 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.

	VSFAX	FESCX	Difference
Sharpe ratio: Return per unit of total volatility	1.74	2.77	-1.03
Sortino ratio: Return per unit of downside risk	2.68	3.78	-1.09
Omega ratio: Gain probability vs. loss probability	1.35	1.46	-0.11
Calmar ratio: Return relative to maximum drawdown	3.19	5.20	-2.00
Martin ratio: Return relative to average drawdown	10.65	18.79	-8.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSFAX vs. FESCX - Sharpe Ratio Comparison

The current VSFAX Sharpe Ratio is 1.74, which is lower than the FESCX Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of VSFAX and FESCX, 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

	VSFAX	FESCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	2.77	-1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.41	-0.16

Drawdowns

VSFAX vs. FESCX - Drawdown Comparison

The maximum VSFAX drawdown since its inception was -78.14%, which is greater than FESCX's maximum drawdown of -28.53%. Use the drawdown chart below to compare losses from any high point for VSFAX and FESCX.

Drawdown Indicators

	VSFAX	FESCX	Difference
Max Drawdown Largest peak-to-trough decline	-78.14%	-28.53%	-49.61%
Max Drawdown (1Y) Largest decline over 1 year	-9.67%	-10.26%	+0.59%
Max Drawdown (3Y) Largest decline over 3 years	-30.07%	-28.53%	-1.54%
Max Drawdown (5Y) Largest decline over 5 years	-30.07%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-48.57%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-20.85%	-8.84%	-12.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	2.83%	+0.07%

Volatility

VSFAX vs. FESCX - Volatility Comparison

The current volatility for Federated Hermes Clover Small Value Fund (VSFAX) is 4.96%, while First Eagle Small Cap Opportunity Fund (FESCX) has a volatility of 5.54%. This indicates that VSFAX experiences smaller price fluctuations and is considered to be less risky than FESCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSFAX	FESCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.96%	5.54%	-0.58%
Volatility (6M) Calculated over the trailing 6-month period	12.39%	13.54%	-1.15%
Volatility (1Y) Calculated over the trailing 1-year period	17.77%	19.28%	-1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.32%	22.66%	+0.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.06%	22.66%	+1.40%

VSFAX vs. FESCX - Expense Ratio Comparison

VSFAX has a 1.14% expense ratio, which is higher than FESCX's 1.00% expense ratio.

Dividends

VSFAX vs. FESCX - Dividend Comparison

VSFAX's dividend yield for the trailing twelve months is around 3.04%, more than FESCX's 0.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FESCX First Eagle Small Cap Opportunity Fund	0.82%	1.03%	1.56%	0.60%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VSFAX Federated Hermes Clover Small Value Fund	3.04%	3.45%	20.39%	2.91%	9.15%	8.62%	0.11%	0.35%	23.83%	16.53%	2.33%	2.20%

Frequently Asked Questions

Can I hold both VSFAX and FESCX in my portfolio?

VSFAX and FESCX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSFAX or FESCX?

FESCX has higher volatility (5.54%) compared to VSFAX (4.96%). In terms of maximum drawdown, VSFAX dropped -78.14% vs FESCX's -28.53%.

Which has better risk-adjusted returns?

FESCX currently has the higher Sharpe Ratio (2.77 vs 1.74), 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.