This fold is the exact opposite of a hero call.
Is there such a thing as a hero fold? Don't think i've ever heard that term.
The problem with hero folds like this (especially when 40% of your stack is committed) is that they are long term losers.
Lets say you play 100 hands that are exactly like this, and each hand is $100.
IMO, you win in this scenario 95% of the time which results in $9,500.
You lose 5 times which results in -$500 for a total of $9,000.
So what are the odds of you correctly identifying the 5% losers?
There is a 95% chance that you will fold one of the 'winning' hands and a 5% chance you will fold one of the losing hands.
So odds are that you are going to fold one of the winning hands but still lose one of the losing hands. So by trying to make these hero folds, you merely decrease your overall value since the odds are you are still going to be losing that 5% (make sense).
This is why, in these types of scenarios, it is better to just make the call.
And this is why, I love shoving against nits and mice. They scare themselves into folding because 'obviously' I have the 1 or 2 hands that can beat them