Fund Evaluator:

Federated Hermes MDT All Cap Core IS Overview

Federated Hermes MDT All Cap Core IS (QIACX) is an actively managed U.S. Equity Large Blend fund. Federated launched the fund in 2002.

The investment seeks long-term capital appreciation. The fund invests primarily in the common stock of U.S. companies. Its investment adviser's investment strategy utilizes a whole market, all-cap/all-style approach by selecting most of its investments from companies listed in the Russell 3000® Index. The fund's investments may include, but are not limited to, equity securities of domestic issuers and real estate investment trusts (REITs).

About Federated Hermes MDT All Cap Core IS (QIACX)

There are 4 members of the management team with an average tenure of 13.92 years: Frederick Konopka (2008), Daniel Mahr (2008), John Lewicke (2014), Damien Zhang (2018). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Morningstar Large Blend Fund cat index with a weighting of 100%. Federated Hermes MDT All Cap Core IS has 176 securities in its portfolio. The top 10 holdings constitute 35.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Federated Hermes MDT All Cap Core IS is part of the Equity global asset class and is within the U.S. Equity fund group. Federated Hermes MDT All Cap Core IS has 0.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 97.7%. There is 0.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Federated Hermes MDT All Cap Core IS has 0.0% of the portfolio in cash.

Assets Under Management

The fund has $2 billion in total assets, which is below the $6 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

QIACX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Federated Hermes MDT All Cap Core IS expense ratio is above average compared to funds in the Large Blend category. Federated Hermes MDT All Cap Core IS has an expense ratio of 0.75%, which is 8% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Federated Hermes MDT All Cap Core IS has a portfolio turnover rate of 62%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.

Recently, in the month of July 2026, Federated Hermes MDT All Cap Core IS returned 1.9%, which earned it a grade of A, as the Large Blend category had an average return of 0.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Federated Hermes MDT All Cap Core IS has a trailing yield of 0.23%, which is below the 0.56% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Federated Hermes MDT All Cap Core IS Grades

Year to date, the fund has returned 9.7%, 0.4 percentage points better than the category, which translates into a grade of C. The fund has returned 16.9% over the past year (grade of D), 22.5% over the past three years (grade of A) and 15.0% per year over the past five years (grade of A) and 16.6% per year over the past 10 years (grade of A).

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