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Launched · SEC filings

Federated Hermes MDT Market Neutral ETF

MKTNNYSE ArcaFederated HermesC

$28.35+0.03 (+0.11%)

At close: Nov 2, 2026, 4:00 PM ET

C46/ 100

Rank 19 of 30 in Alternative Strategies

C46/100Rank 19 of 30inAlternative Strategies
Intraday session: up, 79 prints from 28.32 to 28.35. Range 28.30 to 28.85. Use the arrow keys to read each point.28.5028.6028.7028.8010 AM12 PM2 PM4 PM
Expense ratio
1.94%*
Fund size
$160M
1Y total return
+13.3%
Yield · Last 12 months
No data
Holdings
223
Avg volume · 30D
37.6K sh
52W range
low $24.80high $29.07
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Mar 1, 2027. Without it: 2.27%.

The ETF.net MKTN Grade

Based on 4 of 6 pillars

C

Score 46 out of 100

Category
Alternative Strategies⁠
Rank
19 of 30
Six-pillar profile for MKTN. Scores out of 100: Cost 21, Risk 80, Mission not scored, Tradability 67, Holdings not scored, Durability 46. Strongest: Risk (80). Weakest: Cost (21). Based on 4 of 6 pillars.

Score 46 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.
    F21 out of 100
    Rank 24 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.
    B67 out of 100
    Rank 7 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

In short

CA real long/short stock book in an ETF: Federated Hermes' MDT quants buy one basket of US stocks and short another, aiming for gains that lean less on market direction. Costs 1.94% net of a waiver through March 1, 2027.

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

  • An actual equity long/short book in an ETF wrapper: the MDT quant team buys one set of US stocks and sells another short, by prospectus mandate.yahoo.com
  • The stated goal is capital appreciation while limiting exposure to general stock-market risk, spread over a couple hundred long and short US names.
  • Longs paired against shorts are built to mute broad market swings, and its measured risk so far has been mild for an equity strategy.
  • A waiver trims the cost from 2.27% gross to 1.94% net through March 1, 2027.

Worth knowing

  • Shorting is costly to run: 1.94% net of that waiver sits above the alternatives category's typical fee, where FLSP charges 0.65% and IALT 0.99%.
  • Launched in 2025, so there is roughly a year of live data, not a full cycle.
  • Shares trade lightly, which can mean wider spreads than a big index fund, and distributions land only once or twice a year.

MKTN Holdings

Asset class
Other
Holdings
223
Top-10 weight
99%
Largest holding
Federated Govt Oblg Pr Shares74.8%

Geography

  • United States99.52%
  • Brazil0.27%
  • Finland0.19%
  • United Kingdom0.02%
The fund’s holdings, weight-ordered — page 1 of 15.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataFederated Govt Oblg Pr Shares74.80%127,058,020$127M5
2No dataUs Dollar4.67%7,936,811$7.94M228
3ABBVAbbVie Inc Common Stock USD.012.61%15,238$4.43M523
4BNYBank of New York Mellon Corp Common Stock2.57%29,170$4.36M387
5FIFiserv Inc Common Stock USD.012.56%89,539$4.34M120
6CRWDCrowdstrike Holdings Inc A Common Stock2.42%15,733$4.11M488
7GEGeneral Electric Common Stock USD.012.38%12,925$4.05M404
8FIVEFive Below Common Stock USD.012.28%15,767$3.87M193
9TRVTravelers Cos Inc/The Common Stock2.26%9,659$3.85M394
10INTUIntuit Inc Common Stock USD.012.24%11,473$3.8M466
11GEVGe Vernova Inc Common Stock USD.011.98%3,793$3.37M485
12STTState Street Corp Common Stock USD1.01.86%18,231$3.17M364
13FTNTFortinet Inc Common Stock USD.0011.86%22,708$3.16M476
14REGNRegeneron Pharmaceuticals Common Stock USD.0011.75%3,632$2.97M422
15TEAMAtlassian Corp Class A Common Stock USD.000011.69%14,026$2.86M214

Showing 1–15 of 223 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$11,325
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. MKTN $11,325. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025May 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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+10.4%
1 month+1.5%
3 months+3.7%
1 year+13.3%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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+10.4%
2025+3.2%

History from Sep 25, 2025

MKTN in the news

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

$10,000 in MKTN 1 year ago paid $26.13 in dividends.

MKTN Risk

Risk pillarA80 out of 100Rank 5 of 30 in Alternative Strategies
How much the fund’s monthly returns vary, scaled to a year.
5.5%
Annualised · 13 months to Oct 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.
1.52
vs 3-month T-bills · 13 months to Oct 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%
13 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.

FMP measures it over up to five years of monthly returns.

MKTN Cost

Compare MKTN and HBDC

Overpaying vs HBDC, cheapest in Alternative Strategies

$24,258

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • MKTN 1.94%

    $32,156

  • HBDC 0.39% Cheapest

    $7,898

$10,000
30 years

Cost over time

  • MKTN 1.94%
  • HBDC 0.39%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K$40K051015202530MKTN $32,156HBDC $7,898

Year by year

YearMKTNHBDCOverpaying
10$3,289$705$2,584
20$11,859$2,725$9,134
30$32,156$7,898$24,258
How the 1.94% is worked out

Full fee 2.27%− waiver 0.33%= you pay 1.94%

The waiver ends Mar 1, 2027. After that the fee is 2.27% unless Federated Hermes renews it. Source: prospectus, Feb 2026.

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