BELFA vs. HBM

Last updated Jun 3, 2026

BELFA (Bel Fuse Inc.) and HBM (Hudbay Minerals Inc.) are both stocks. BELFA operates in Electronic Components (Technology), while HBM operates in Copper (Basic Materials). Over the past 10 years, BELFA returned 33.03%/yr vs 22.90%/yr for HBM. At a 0.17 correlation, their price movements are largely independent.

Performance

BELFA vs. HBM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bel Fuse Inc. (BELFA) and Hudbay Minerals Inc. (HBM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BELFA achieves a 56.77% return, which is significantly lower than HBM's 60.60% return. Over the past 10 years, BELFA has outperformed HBM with an annualized return of 33.03%, while HBM has yielded a comparatively lower 22.90% annualized return.

BELFA

• 1D: -0.59%
• 1M: -7.14%
• YTD: 56.77%
• 6M: 73.29%
• 1Y: 275.26%
• 3Y*: 70.10%
• 5Y*: 74.47%
• 10Y*: 33.03%

HBM

• 1D: 4.18%
• 1M: 39.78%
• YTD: 60.60%
• 6M: 93.92%
• 1Y: 248.63%
• 3Y*: 88.72%
• 5Y*: 34.22%
• 10Y*: 22.90%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BELFA vs. HBM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BELFA Bel Fuse Inc.	56.77%	68.98%	39.80%	102.03%	117.06%	14.81%	-16.19%	19.66%	-36.22%	-12.91%
HBM Hudbay Minerals Inc.	60.60%	145.46%	47.03%	9.24%	-29.87%	3.82%	69.50%	-11.77%	-46.20%	54.77%

Correlation

The correlation between BELFA and HBM is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Feb 17, 2009	0.17

Fundamentals

Market Cap BELFA : $503.01M HBM : $12.71B
EPS BELFA : $7.60 HBM : $1.65
PE Ratio BELFA : 31.28 HBM : 19.28
PEG Ratio BELFA : 0.76 HBM : 0.13
PS Ratio BELFA : 2.45 HBM : 5.36
PB Ratio BELFA : 0.53 HBM : 3.58
Total Revenue (TTM) BELFA : $701.71M HBM : $2.37B
Gross Profit (TTM) BELFA : $275.20M HBM : $828.54M
EBITDA (TTM) BELFA : $135.78M HBM : $1.54B

Return for Risk

BELFA vs. HBM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BELFA

BELFA Risk / Return Rank: 97
BELFA Sharpe Ratio Rank: 98
BELFA Sortino Ratio Rank: 96
BELFA Omega Ratio Rank: 95
BELFA Calmar Ratio Rank: 98
BELFA Martin Ratio Rank: 98

HBM

HBM Risk / Return Rank: 95
HBM Sharpe Ratio Rank: 98
HBM Sortino Ratio Rank: 95
HBM Omega Ratio Rank: 94
HBM Calmar Ratio Rank: 95
HBM Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BELFA vs. HBM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bel Fuse Inc. (BELFA) and Hudbay Minerals Inc. (HBM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BELFA	HBM	Difference
Sharpe ratio Return per unit of total volatility	5.14	4.46	+0.68
Sortino ratio Return per unit of downside risk	4.46	4.07	+0.40
Omega ratio Gain probability vs. loss probability	1.59	1.54	+0.06
Calmar ratio Return relative to maximum drawdown	12.61	7.12	+5.49
Martin ratio Return relative to average drawdown	39.44	22.87	+16.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BELFA vs. HBM - Sharpe Ratio Comparison

The current BELFA Sharpe Ratio is 5.14, which is comparable to the HBM Sharpe Ratio of 4.46. The chart below compares the historical Sharpe Ratios of BELFA and HBM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BELFA	HBM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.14	4.46	+0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.51	0.63	+0.88
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.39	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.23	-0.10

Drawdowns

BELFA vs. HBM - Drawdown Comparison

The maximum BELFA drawdown since its inception was -89.86%, roughly equal to the maximum HBM drawdown of -92.21%. Use the drawdown chart below to compare losses from any high point for BELFA and HBM.

Drawdown Indicators

	BELFA	HBM	Difference
Max Drawdown Largest peak-to-trough decline	-89.86%	-92.21%	+2.35%
Max Drawdown (1Y) Largest decline over 1 year	-21.82%	-36.16%	+14.34%
Max Drawdown (3Y) Largest decline over 3 years	-43.43%	-41.11%	-2.32%
Max Drawdown (5Y) Largest decline over 5 years	-43.43%	-63.33%	+19.90%
Max Drawdown (10Y) Largest decline over 10 years	-78.04%	-86.34%	+8.30%
Current Drawdown Current decline from peak	-12.16%	0.00%	-12.16%
Average Drawdown Average peak-to-trough decline	-50.50%	-52.53%	+2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.98%	11.26%	-4.28%

Volatility

BELFA vs. HBM - Volatility Comparison

The current volatility for Bel Fuse Inc. (BELFA) is 17.06%, while Hudbay Minerals Inc. (HBM) has a volatility of 19.28%. This indicates that BELFA experiences smaller price fluctuations and is considered to be less risky than HBM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BELFA	HBM	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.06%	19.28%	-2.22%
Volatility (6M) Calculated over the trailing 6-month period	38.57%	43.97%	-5.40%
Volatility (1Y) Calculated over the trailing 1-year period	53.93%	56.19%	-2.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.77%	55.01%	-5.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.87%	58.72%	+2.15%

Dividends

BELFA vs. HBM - Dividend Comparison

BELFA's dividend yield for the trailing twelve months is around 0.10%, more than HBM's 0.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BELFA Bel Fuse Inc.	0.10%	0.16%	0.27%	0.39%	0.78%	1.60%	1.81%	1.48%	1.75%	1.10%	0.95%	1.64%
HBM Hudbay Minerals Inc.	0.04%	0.07%	0.17%	0.31%	0.32%	0.22%	0.21%	0.36%	0.38%	0.23%	0.35%	0.52%

Financials

BELFA vs. HBM - Profitability Comparison

The chart below illustrates the profitability comparison between Bel Fuse Inc. and Hudbay Minerals Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

BELFA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Bel Fuse Inc. reported a gross profit of 69.60M and revenue of 178.49M. Therefore, the gross margin over that period was 39.0%.

HBM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Hudbay Minerals Inc. reported a gross profit of 340.81M and revenue of 745.43M. Therefore, the gross margin over that period was 45.7%.

BELFA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Bel Fuse Inc. reported an operating income of 23.67M and revenue of 178.49M, resulting in an operating margin of 13.3%.

HBM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Hudbay Minerals Inc. reported an operating income of 297.62M and revenue of 745.43M, resulting in an operating margin of 39.9%.

BELFA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Bel Fuse Inc. reported a net income of 11.38M and revenue of 178.49M, resulting in a net margin of 6.4%.

HBM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Hudbay Minerals Inc. reported a net income of 187.76M and revenue of 745.43M, resulting in a net margin of 25.2%.

Frequently Asked Questions

Can I hold both BELFA and HBM in my portfolio?

BELFA and HBM have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BELFA or HBM?

HBM has higher volatility (19.28%) compared to BELFA (17.06%). In terms of maximum drawdown, BELFA dropped -89.86% vs HBM's -92.21%.

Which has better risk-adjusted returns?

BELFA currently has the higher Sharpe Ratio (5.14 vs 4.46), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.