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Launched · SEC filings

Federated Hermes MDT Market Neutral ETF

MKTNNYSE ArcaC

$28.36+0.09 (+0.32%)

As of Oct 13, 2026, 3:59 PM

C43/ 100

Rank 18 of 30 in Alternative Strategies

C43/100Rank 18 of 30inAlternative Strategies
Intraday session: up, 52 prints from 28.27 to 28.36. Range 28.28 to 28.49. Use the arrow keys to read each point.28.3028.4028.4528.5010 AM12 PM2 PM4 PM
Expense ratio
2.27%
Fund size
$146M
1Y total return
+16.7%
Yield · Last 12 months
Data unavailable
Holdings
228
Avg volume · 30D
0M sh
NAV per share
$28.14
52W range
low $24.31high $28.47
Launched
Filings
SEC EDGAR

The ETF.net MKTN Grade

Based on 4 of 6 pillars

C

Score 43 out of 100

Category
Alternative Strategies⁠
Rank
18 of 30
Six-pillar profile for MKTN. Scores out of 100: Cost 16, Risk 80, Mission not scored, Tradability 63, Holdings not scored, Durability 46. Strongest: Risk (80). Weakest: Cost (16). Based on 4 of 6 pillars.

Score 43 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F16 out of 100
    Rank 25 of 30

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A80 out of 100
    Rank 5 of 30

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B63 out of 100
    Rank 10 of 30

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C46 out of 100
    Rank 25 of 30

Our read on MKTN

ETF.net Research

CA hedge-fund staple in ETF clothing. Federated Hermes' MDT quant team goes long the stocks its model favors and short the ones it doesn't, aiming to cancel out the market's direction and leave the stock picking behind.

Stated mandate

The Fund seeks long-term capital appreciation while limiting exposure to general stock-market risk through a quantitative, market-neutral strategy that selects long and short publicly traded common stocks.

Why people hold it

  1. 01Runs a genuine market-neutral book: long and short US common stocks chosen by a quant model, with the stated aim of limiting exposure to general stock-market risk.
  2. 02Its peer shelf is stacked with long-only core equity funds (DFAU, DFAC, AVLC). This one targets the spread between its long and short books instead of the index's direction.
  3. 03Selection is quantitative and rules-driven, so positions come from the MDT model's rankings rather than a manager's discretionary call.

Worth knowing

  1. 01Expensive by design: 2.27% a year versus a 0.65% median for US active equity funds. Shorting machinery costs money, and the model has to clear that gap first.
  2. 02Neutral cuts both ways. With broad market exposure hedged away, this design is not built to keep pace with a rising stock market.
  3. 03Launched in 2025 and lightly traded, so there is little history to judge and the bid-ask gap can run wider than at big index funds.

MKTN Holdings

As of Oct 12, 2026
Asset class
Other
Holdings
228
Top-10 weight
100%
Largest holding
Federated Govt Oblg Pr Shares78.6%

Geography

  • United States77.47%
  • Australia7.88%
  • Bermuda7.43%
  • Canada4.66%
  • United Kingdom1.52%
  • Finland0.76%
  • Netherlands0.13%
  • Luxembourg0.13%
The fund’s holdings, weight-ordered — page 1 of 16.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Federated Govt Oblg Pr Shares78.61%115,471,991$115M5
002FTNTFortinet Inc Common Stock USD.0012.62%19,773$4M468
003CRWDCrowdstrike Holdings Inc A Common Stock2.57%13,747$4M472
004ABBVAbbVie Inc Common Stock USD.012.50%13,278$4M522
005FIFiserv Inc Common Stock USD.012.47%79,670$4M121
006INTUIntuit Inc Common Stock USD.012.40%11,657$4M458
007GEGeneral Electric Common Stock USD.012.36%11,248$3M405
008TRVTravelers Cos Inc/The Common Stock2.17%8,632$3M382
009GEVGe Vernova Inc Common Stock USD.012.15%3,144$3M484
010FIVEFive Below Common Stock USD.012.01%13,729$3M186
011TEAMAtlassian Corp Class A Common Stock USD.000011.84%13,090$3M206
012BNYBank of New York Mellon Corp Common Stock1.80%18,519$3M382
013NVDANVIDIA Corp Common Stock USD.0011.80%11,516$3M847
014ANETArista Networks Inc Common Stock USD.00011.62%10,996$2M509
015STTState Street Corp Common Stock USD1.01.62%13,565$2M362

Showing 1–15 of 228 holdings

MKTN Performance

Launched Sep 24, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
MKTN$11,668
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. MKTN $11,668. SPY $12,044. Use the arrow keys to read each point.$9,582$10,912$12,243Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for MKTN. Periods over one year show the average yearly return.
PeriodMKTN
Year to date+10.2%
1 month+1.3%
3 months+7.4%
1 year+16.7%
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for MKTN
YearReturn barMKTN
2026 YTD+10.2%
2025+3.2%

History from Sep 25, 2025

MKTN in the news

Filtered to MKTN · Alternative Strategies

MKTN Dividends

Last payment
$0.07 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 31, 2025 $0.07. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 31, 2025Jan 2, 2026$0.07

MKTN Risk

How much the fund’s monthly returns vary, scaled to a year.
5.8%
Annualised · 12 months to Sep 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.39
vs 3-month T-bills · 12 months to Sep 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−4.1%
12 months · trough Apr 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−0.16
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

MKTN Cost

Expense ratio2.27%
  • The middle half of Alternative Strategies funds
  • Median 1.00%

24 of the 30 Alternative Strategies funds charge less.

MKTN costs $227.00 a year on $10,000. The median Alternative Strategies fund costs $100.50.

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