- ISIN
- US74925K8392
- Issuer
- RBB Fund
- Inception Date
- Dec 31, 2007
- Category
- Mid Cap Value Equities
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
FMUEX Performance Chart
RBB Free Market U.S. Equity Fund (FMUEX) is up 19.9% since the beginning of the year. FMUEX is currently trading at $32 per share. Investors who bought $1,000 worth of FMUEX shares 5 years ago would now be looking at an investment worth $1,647.
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Returns By Period
RBB Free Market U.S. Equity Fund (FMUEX) has returned 19.93% so far this year and 34.76% over the past 12 months. Over the last ten years, FMUEX has returned 11.59% per year, falling short of the S&P 500 Index benchmark, which averaged 13.29% annually.
RBB Free Market U.S. Equity Fund
- 1D
- 0.03%
- 1M
- 0.89%
- 6M
- 12.74%
- YTD
- 19.93%
- 1Y
- 34.76%
- 3Y*
- 15.28%
- 5Y*
- 10.50%
- 10Y*
- 11.59%
- ALL TIME*
- 9.86%
Benchmark (S&P 500 Index)
- 1D
- 1.48%
- 1M
- 1.57%
- 6M
- 8.95%
- YTD
- 11.03%
- 1Y
- 21.84%
- 3Y*
- 19.28%
- 5Y*
- 11.54%
- 10Y*
- 13.29%
- ALL TIME*
- 8.11%
FMUEX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2008, FMUEX's average daily return is +0.05%, while the average monthly return is +0.95%. At this rate, an investment would double in approximately 6.1 years.
Historically, 64% of months were positive and 36% were negative. The best month was Apr 2009 with a return of +16.4%, while the worst month was Mar 2020 at -21.3%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 5 months.
On a daily basis, FMUEX closed higher 51% of trading days. The best single day was Mar 24, 2020 with a return of +10.1%, while the worst single day was Dec 1, 2008 at -10.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.21% | 2.33% | -4.10% | 8.88% | 3.43% | 2.95% | 0.19% | 19.93% | |||||
| 2025 | 3.26% | -3.00% | -4.92% | -3.73% | 5.11% | 4.73% | 1.16% | 5.73% | 1.01% | -0.12% | 2.57% | 0.97% | 12.79% |
| 2024 | -1.45% | 3.67% | 4.73% | -5.41% | 4.46% | -0.90% | 6.99% | -0.44% | 0.77% | -1.33% | 8.67% | -10.38% | 8.09% |
| 2023 | 7.57% | -1.89% | -3.18% | -0.85% | -2.71% | 8.20% | 5.00% | -3.00% | -4.21% | -4.35% | 8.22% | 8.70% | 17.10% |
| 2022 | -4.12% | 0.18% | 1.23% | -6.79% | 2.74% | -9.62% | 8.60% | -3.04% | -9.25% | 12.40% | 4.98% | -5.63% | -10.47% |
| 2021 | 2.76% | 8.57% | 5.66% | 2.97% | 2.93% | -1.06% | -0.86% | 2.17% | -2.50% | 4.43% | -2.00% | 5.44% | 31.75% |
Benchmark Metrics
RBB Free Market U.S. Equity Fund has an annualized alpha of 1.34%, beta of 0.99, and R2 of 0.76 versus S&P 500 Index. Calculated based on daily prices since January 02, 2008.
- This fund captured 111.52% of S&P 500 Index gains and 107.89% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- With beta of 0.99 and R2 of 0.76, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 1.34%
- Beta
- 0.99
- R²
- 0.76
- Upside Capture
- 111.52%
- Downside Capture
- 107.89%
Expense Ratio
FMUEX has an expense ratio of 0.78%, placing it in the medium range.
Return for Risk
Risk / Return Rank
FMUEX ranks 91 for risk / return — above 91% of mutual funds peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for RBB Free Market U.S. Equity Fund (FMUEX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FMUEX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.31 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 4.29 | 2.41 | +1.88 |
| Martin ratioReturn relative to average drawdown | 16.14 | 10.22 | +5.92 |
Dividends
Dividend History
RBB Free Market U.S. Equity Fund provided a 1.56% dividend yield over the last twelve months, with an annual payout of $0.50 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.50 | $0.50 | $0.00 | $0.91 | $1.62 | $1.04 | $0.30 | $1.01 | $0.92 | $0.71 | $0.83 | $1.26 |
Dividend yield | 1.56% | 1.87% | 0.00% | 4.12% | 8.26% | 4.38% | 1.61% | 5.57% | 5.88% | 3.80% | 4.80% | 8.51% |
Monthly Dividends
The table displays the monthly dividend distributions for RBB Free Market U.S. Equity Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.50 | $0.50 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.91 | $0.91 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.62 | $1.62 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.04 | $1.04 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the RBB Free Market U.S. Equity Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the RBB Free Market U.S. Equity Fund was 58.03%, occurring on Mar 9, 2009. Recovery took 452 trading sessions.
The current RBB Free Market U.S. Equity Fund drawdown is 0.47%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-58.03%Mar 2009 | 9mo 6d | 1y 9mo | 2y 6moJun 2008 - Dec 2010 | Financial crisis2007–2009 |
-42.31%Mar 2020 | 2mo 6d | 8mo 6d | 10mo 12dJan 2020 - Nov 2020 | COVID crash2020 |
-27.44%Oct 2011 | 5mo 4d | 11mo 10d | 1y 4moMay 2011 - Sep 2012 | — |
-25.49%Apr 2025 | 4mo 13d | 7mo 29d | 1y 7dNov 2024 - Dec 2025 | 2025 selloff2025 |
-23.70%Dec 2018 | 3mo 26d | 1y 23d | 1y 4moAug 2018 - Jan 2020 | Rate-hike selloffLate 2018 |
Drawdown Indicators
| FMUEX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.03% | -56.78% | -1.25% |
Max Drawdown (1Y)Largest decline over 1 year | -7.61% | -9.10% | +1.49% |
Max Drawdown (3Y)Largest decline over 3 years | -25.49% | -18.90% | -6.59% |
Max Drawdown (5Y)Largest decline over 5 years | -25.49% | -25.43% | -0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -42.31% | -33.92% | -8.39% |
Current DrawdownCurrent decline from peak | -0.47% | -0.12% | -0.35% |
Average DrawdownAverage peak-to-trough decline | -8.00% | -10.70% | +2.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 2.14% | -0.12% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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