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Name

As of 11/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Federated Hermes MDT Market Neutral Fund

QQMNX | Fund

$21.03

$399 M

2.59%

$0.55

2.02%

Vitals

YTD Return

19.8%

1 yr return

16.9%

3 Yr Avg Return

12.0%

5 Yr Avg Return

N/A

Net Assets

$399 M

Holdings in Top 10

21.8%

52 WEEK LOW AND HIGH

$21.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.02%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 204.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Federated Hermes MDT Market Neutral Fund

QQMNX | Fund

$21.03

$399 M

2.59%

$0.55

2.02%

QQMNX - Profile

Distributions

  • YTD Total Return 19.8%
  • 3 Yr Annualized Total Return 12.0%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.55%
DIVIDENDS
  • Dividend Yield 2.6%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Federated Hermes MDT Market Neutral Fund
  • Fund Family Name
    Federated Hermes Funds
  • Inception Date
    Sep 27, 2021
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Frederick Konopka

Fund Description

The Fund seeks to achieve its objective by selecting long positions in publicly traded common stocks which the Fund’s quantitative model predicts will achieve above-market returns, and short positions in publicly traded common stocks which the Fund’s quantitative model predicts will achieve below-market returns. The portfolio maintains long and short exposures in an attempt to neutralize market volatility. The Fund’s investments primarily include, but are not limited to, equity securities of issuers listed in the Russell 3000 Index. The Russell 3000 Index measures the performance of the 3,000 largestU.S. companies by market capitalization representing approximately 98% of the investable domestic equity market. As of December 31, 2023, companies in the Russell 3000 Index ranged in market capitalization from $19.5 million to $3.0 trillion.The Adviser implements its strategy using a quantitative model driven by fundamental and technical stock selection variables, including relative value, profit trends, capital structure and price history. This process seeks to impose strict discipline over stock selection, unimpeded by market or manager psychology. It seeks to maximize compound annual return while controlling risk. The process also takes into account trading costs in an effort to ensure that trades are generated only to the extent they are expected to be profitable on an after-trading-cost basis. Additionally, risk is controlled through diversification constraints which limit exposure to individual companies as well as groups of correlated companies. The Adviser’s stock selection process is expected to result in long and short investments in companies with both growth and value characteristics.The Fund will attempt to realize investment gains on both the long and short sides of its investment strategies through stock selection. The style is termed market neutral in that it is not making bets regarding the direction of the equity markets. The market-neutral approach is roughly balanced by sector but not balanced across industries and businesses. The Fund’s net positions will not be concentrated in any industry or group of industries. Thus, the Fund is not completely isolated from market movements. The overall performance of the Fund depends on the net performance of its long and short positions, and it is possible for the Fund to experience a net loss across both its long and short positions. If the Fund’s investment strategy is successful, however, the net performance of its long and short positions will produce long-term capital appreciation that reflects the quality of the Adviser’s security selections, with limited exposure to general stock market risk.Because of the Fund’s market neutral strategy, the Fund’s overall price movements are not expected to correlate with the general stock market’s price movements. In other words, the Fund is expected to have returns that are independent of the returns and direction of the general stock market (i.e., zero beta).The Fund may, but is not required to, use derivatives, such as futures, options, forward contracts, and swap agreements, as an alternative to selling a security short, to increase returns, or as part of a hedging strategy.
Read More

QQMNX - Performance

Return Ranking - Trailing

Period QQMNX Return Category Return Low Category Return High Rank in Category (%)
YTD 19.8% -11.2% 39.1% 18.37%
1 Yr 16.9% -9.8% 50.9% 44.90%
3 Yr 12.0%* -11.0% 27.4% 11.36%
5 Yr N/A* -2.8% 23.9% 32.34%
10 Yr N/A* -4.0% 10.2% 23.08%

* Annualized

Return Ranking - Calendar

Period QQMNX Return Category Return Low Category Return High Rank in Category (%)
2023 -1.1% -17.3% 43.8% 81.21%
2022 -2.3% -54.0% 17.4% 18.66%
2021 N/A -40.0% 54.1% N/A
2020 N/A -47.6% 88.4% N/A
2019 N/A -20.3% 62.6% N/A

Total Return Ranking - Trailing

Period QQMNX Return Category Return Low Category Return High Rank in Category (%)
YTD 19.8% -11.2% 39.1% 18.37%
1 Yr 16.9% -9.8% 50.9% 44.90%
3 Yr 12.0%* -11.0% 27.4% 11.36%
5 Yr N/A* -2.8% 23.9% 31.14%
10 Yr N/A* -4.0% 10.2% 20.00%

* Annualized

Total Return Ranking - Calendar

Period QQMNX Return Category Return Low Category Return High Rank in Category (%)
2023 5.0% -14.5% 43.8% 69.13%
2022 9.5% -54.0% 50.3% 12.69%
2021 N/A -40.0% 61.6% N/A
2020 N/A -29.9% 91.0% N/A
2019 N/A -17.9% 79.4% N/A

NAV & Total Return History

QQMNX - Holdings

Concentration Analysis

QQMNX Category Low Category High QQMNX % Rank
Net Assets 399 M 1.08 M 6.67 B 25.50%
Number of Holdings 395 3 2209 18.12%
Net Assets in Top 10 99.5 M 656 K 2.41 B 28.86%
Weighting of Top 10 21.81% 2.1% 101.8% 92.62%

Top 10 Holdings

  1. GoDaddy Inc 2.63%
  2. AbbVie Inc 2.61%
  3. Spotify Technology SA 2.45%
  4. Jackson Financial Inc 2.43%
  5. Vistra Corp 2.13%
  6. Wingstop Inc 2.06%
  7. Crowdstrike Holdings Inc 2.05%
  8. Nutanix Inc 1.91%
  9. Federated Hermes Government Obligations Fund 1.77%
  10. Ameriprise Financial Inc 1.77%

Asset Allocation

Weighting Return Low Return High QQMNX % Rank
Cash 		79.94% 0.00% 99.60% 10.07%
Stocks 		20.06% 0.00% 100.92% 82.55%
Preferred Stocks 		0.00% -1.01% 6.36% 26.85%
Other 		0.00% -48.19% 99.35% 48.99%
Convertible Bonds 		0.00% -0.02% 4.48% 15.60%
Bonds 		0.00% 0.00% 90.68% 43.62%

Stock Sector Breakdown

Weighting Return Low Return High QQMNX % Rank
Technology 		27.06% 0.00% 43.24% 8.33%
Healthcare 		18.65% 0.00% 100.00% 20.83%
Consumer Cyclical 		13.97% 0.00% 88.83% 20.00%
Industrials 		10.42% 0.00% 31.93% 53.33%
Financial Services 		10.01% 0.00% 83.83% 71.67%
Communication Services 		6.64% 0.00% 32.32% 57.50%
Energy 		5.99% 0.00% 32.57% 35.00%
Real Estate 		3.38% 0.00% 10.93% 21.67%
Consumer Defense 		2.75% 0.00% 19.75% 79.17%
Basic Materials 		1.13% 0.00% 28.58% 82.50%
Utilities 		0.00% 0.00% 21.71% 75.00%

Stock Geographic Breakdown

Weighting Return Low Return High QQMNX % Rank
US 		20.06% 0.00% 100.92% 81.88%
Non US 		0.00% -2.95% 54.79% 31.54%

QQMNX - Expenses

Operational Fees

QQMNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.02% 0.42% 9.95% 55.70%
Management Fee 0.80% 0.00% 2.50% 16.11%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.03% 1.54% 34.29%

Sales Fees

QQMNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

QQMNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

QQMNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 204.00% 0.00% 446.00% 80.87%

QQMNX - Distributions

Dividend Yield Analysis

QQMNX Category Low Category High QQMNX % Rank
Dividend Yield 2.59% 0.00% 27.22% 12.84%

Dividend Distribution Analysis

QQMNX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual SemiAnnual Annual

Net Income Ratio Analysis

QQMNX Category Low Category High QQMNX % Rank
Net Income Ratio -0.55% -3.33% 2.16% 38.10%

Capital Gain Distribution Analysis

QQMNX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

QQMNX - Fund Manager Analysis

Managers

Frederick Konopka

Start Date

Tenure

Tenure Rank

Sep 27, 2021

0.67

0.7%

Frederick L. Konopka, CFA, joined Federated MDTA LLC investment team in 1997. Mr. Konopka is a Vice President of Federated MDTA LLC . As the Portfolio and Trading Manager, he is responsible for the ongoing implementation of the investment model including trading impact evaluation and implementation. He received his A.B., Mathematics from Dartmouth College and his M.S., Concentration in Information Technology and Finance from MIT Sloan School of Management.

Daniel Mahr

Start Date

Tenure

Tenure Rank

Sep 27, 2021

0.67

0.7%

Daniel J. Mahr, CFA, joined Federated MDTA LLC Investment Team in 2002. He is a Senior Vice President of Federated MDTA LLC. As Managing Director of Research, he is responsible for leading the Investment Team as it relates to the ongoing design, development and implementation of the investment model. He received his A.B., Computer Science from Harvard College and his S.M., Computer Science from Harvard University.

John Lewicke

Start Date

Tenure

Tenure Rank

Sep 27, 2021

0.67

0.7%

John Paul Lewicke joined Federated MDTA LLC Investment Team in 2007. Mr. Lewicke is a Vice President of Federated MDTA LLC. As Research Manager, he is responsible for ongoing evaluation and enhancement of the investment model, including software code design and development. Mr. Lewicke received his A.B., Mathematics and Computer Science from Dartmouth College.

Damien Zhang

Start Date

Tenure

Tenure Rank

Sep 27, 2021

0.67

0.7%

Mr. Zhang, Research Manager at Federated MDTA LLC (“MDT Advisers”), joined the MDT Adviser’s Investment Team in 2009. As Research Manager, he is responsible for ongoing evaluation and enhancement of the investment model, including software code design and development. Mr. Zhang received his A.B., Summa Cum Laude in Economics from Princeton University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 23.55 6.0 7.93

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