QQMNX Fees and Costs — Federated Hermes MDT Market Neutral Fund, Institutional Shares
Data updated: 2026-08-25
The net expense ratio is 2.11%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $698K in broker commissions, 0.0465% of average net assets, and portfolio turnover was 62%.
QQMNX Fees and Expenses
Annual operating expenses and sales charges of QQMNX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.29% |
| Gross expense ratio | 2.11% |
| Fee waiver | — |
| Net expense ratio | 2.11% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
QQMNX Costs Over Time
On $10,000 invested in QQMNX, assuming 5% a year before costs, total costs come to $1,318 over 5 years, cutting the return by 2.26% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 2.11%) | $222 | $683 | $1,170 |
| Trading costs (broker commissions) | $5 | $15 | $26 |
| Lost growth on money paid in costs | $0 | $35 | $122 |
| Total costs | $226 | $733 | $1,318 |
| Value after costs | $10,274 | $10,843 | $11,445 |
| Impact on return, per year | 2.26% | 2.26% | 2.26% |
QQMNX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0465%
- Total broker commissions: $698K
- Bought from dealers (principal trades, not a cost): $2.2B
- Portfolio turnover (prospectus): 62%
- Securities lending: none during the year
QQMNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $156K | 22.28% |
| Citigroup Global Markets Inc. | $98K | 13.97% |
| Goldman Sachs & Co. LLC | $96K | 13.76% |
| Nomura Securities International, Inc. | $82K | 11.76% |
| Virtu Americas LLC | $72K | 10.30% |
| Tigress Financial Partners, LLC | $67K | 9.55% |
| JonesTrading | $58K | 8.33% |
| BofA Securities, Inc. | $41K | 5.88% |
| BNY Mellon Capital Markets, LLC | $24K | 3.42% |
| BTIG, LLC | $5K | 0.75% |
QQMNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Federated Securities Corp. | $2.2B | 99.88% |
| BofA Securities, Inc. | $1.8M | 0.08% |
| Citigroup Global Markets Inc. | $899K | 0.04% |
Federated Hermes MDT Market Neutral Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| QQMNX | Institutional Shares | 2.11% | none |
| QAMNX | Class A | 2.36% | 5.50% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.