BINCX vs. BISMX

Last updated Jun 24, 2026

BINCX (Brandes International Small Cap Equity Fund Class C) and BISMX (Brandes International Small Cap Equity Fund Class I) are both Foreign Small & Mid Cap Equities funds from Brandes. Both are actively managed. Over the past 10 years, BINCX returned 10.22%/yr vs 11.19%/yr for BISMX. With a 1.00 correlation, they move nearly in lockstep. BINCX charges 1.99%/yr vs 1.11%/yr for BISMX.

Performance

BINCX vs. BISMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brandes International Small Cap Equity Fund Class C (BINCX) and Brandes International Small Cap Equity Fund Class I (BISMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BINCX achieves a -2.62% return, which is significantly lower than BISMX's -2.29% return. Over the past 10 years, BINCX has underperformed BISMX with an annualized return of 10.22%, while BISMX has yielded a comparatively higher 11.19% annualized return.

BINCX

• 1D: -1.06%
• 1M: -3.05%
• YTD: -2.62%
• 6M: -2.58%
• 1Y: 8.56%
• 3Y*: 26.87%
• 5Y*: 15.49%
• 10Y*: 10.22%

BISMX

• 1D: -1.04%
• 1M: -2.99%
• YTD: -2.29%
• 6M: -2.22%
• 1Y: 9.44%
• 3Y*: 27.96%
• 5Y*: 16.55%
• 10Y*: 11.19%

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

BINCX vs. BISMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BINCX Brandes International Small Cap Equity Fund Class C	-2.62%	44.63%	22.20%	37.99%	-9.36%	18.22%	3.79%	6.06%	-20.76%	10.71%
BISMX Brandes International Small Cap Equity Fund Class I	-2.29%	45.81%	23.44%	39.27%	-8.48%	18.58%	4.85%	7.16%	-20.04%	11.79%

Correlation

The correlation between BINCX and BISMX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	1.00

The correlation between BINCX and BISMX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

BINCX vs. BISMX — Risk / Return Rank

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

BINCX

BINCX Risk / Return Rank: 9
BINCX Sharpe Ratio Rank: 9
BINCX Sortino Ratio Rank: 10
BINCX Omega Ratio Rank: 9
BINCX Calmar Ratio Rank: 9
BINCX Martin Ratio Rank: 8

BISMX

BISMX Risk / Return Rank: 10
BISMX Sharpe Ratio Rank: 11
BISMX Sortino Ratio Rank: 11
BISMX Omega Ratio Rank: 10
BISMX Calmar Ratio Rank: 9
BISMX Martin Ratio Rank: 9

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.

BINCX vs. BISMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brandes International Small Cap Equity Fund Class C (BINCX) and Brandes International Small Cap Equity Fund Class I (BISMX). 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.

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.

	BINCX	BISMX	Difference
Sharpe ratio: Return per unit of total volatility	0.73	0.80	-0.07
Sortino ratio: Return per unit of downside risk	1.14	1.25	-0.11
Omega ratio: Gain probability vs. loss probability	1.13	1.15	-0.01
Calmar ratio: Return relative to maximum drawdown	0.78	0.86	-0.08
Martin ratio: Return relative to average drawdown	2.06	2.30	-0.24

BINCX vs. BISMX - Sharpe Ratio Comparison

The current BINCX Sharpe Ratio is 0.73, which is comparable to the BISMX Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of BINCX and BISMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BINCX vs. BISMX - Drawdown Comparison

The maximum BINCX drawdown since its inception was -48.15%, roughly equal to the maximum BISMX drawdown of -47.07%. Use the drawdown chart below to compare losses from any high point for BINCX and BISMX.

Drawdown Indicators

	BINCX	BISMX	Difference
Max Drawdown Largest peak-to-trough decline	-48.15%	-47.07%	-1.08%
Max Drawdown (1Y) Largest decline over 1 year	-11.66%	-11.61%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-11.66%	-11.61%	-0.05%
Max Drawdown (5Y) Largest decline over 5 years	-31.97%	-31.26%	-0.71%
Max Drawdown (10Y) Largest decline over 10 years	-48.15%	-47.07%	-1.08%
Current Drawdown Current decline from peak	-10.58%	-10.35%	-0.23%
Average Drawdown Average peak-to-trough decline	-9.40%	-7.93%	-1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.43%	4.36%	+0.07%

Volatility

BINCX vs. BISMX - Volatility Comparison

Brandes International Small Cap Equity Fund Class C (BINCX) and Brandes International Small Cap Equity Fund Class I (BISMX) have volatilities of 3.59% and 3.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BINCX	BISMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	3.55%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	10.45%	10.41%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	12.59%	12.57%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.91%	13.90%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.25%	14.24%	+0.01%

BINCX vs. BISMX - Expense Ratio Comparison

BINCX has a 1.99% expense ratio, which is higher than BISMX's 1.11% expense ratio.

Dividends

BINCX vs. BISMX - Dividend Comparison

BINCX's dividend yield for the trailing twelve months is around 3.09%, less than BISMX's 3.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BINCX Brandes International Small Cap Equity Fund Class C	3.09%	3.01%	2.54%	2.45%	2.98%	3.85%	0.60%	0.21%	3.77%	7.83%	3.75%	3.04%
BISMX Brandes International Small Cap Equity Fund Class I	3.41%	3.34%	3.22%	2.93%	4.16%	3.45%	0.92%	0.82%	4.10%	8.51%	4.16%	3.65%

Frequently Asked Questions

Can I hold both BINCX and BISMX in my portfolio?

With a correlation of 1.00, BINCX and BISMX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BINCX or BISMX?

BINCX has higher volatility (3.59%) compared to BISMX (3.55%). In terms of maximum drawdown, BINCX dropped -48.15% vs BISMX's -47.07%.

Which has better risk-adjusted returns?

BISMX currently has the higher Sharpe Ratio (0.80 vs 0.73), 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.