BRGOX vs. BRUSX

Last updated Jun 3, 2026

BRGOX (Bridgeway Global Opportunities Fund Class N) and BRUSX (Bridgeway Ultra Small Company Fund) are both mutual funds - BRGOX is a Equity Market Neutral fund actively managed by Bridgeway, while BRUSX is a Small Cap Value Equities fund managed by Bridgeway. Over the past year, BRGOX returned 13.04% vs 30.61% for BRUSX. At a correlation of -0.15, they often move in opposite directions. BRGOX charges 1.63%/yr vs 1.26%/yr for BRUSX.

Performance

BRGOX vs. BRUSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bridgeway Global Opportunities Fund Class N (BRGOX) and Bridgeway Ultra Small Company Fund (BRUSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BRGOX achieves a 4.27% return, which is significantly lower than BRUSX's 10.04% return.

BRGOX

• 1D: 0.55%
• 1M: -0.90%
• YTD: 4.27%
• 6M: 5.27%
• 1Y: 13.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BRUSX

• 1D: 0.40%
• 1M: 2.34%
• YTD: 10.04%
• 6M: 14.03%
• 1Y: 30.61%
• 3Y*: 16.12%
• 5Y*: 2.42%
• 10Y*: 9.32%

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

BRGOX vs. BRUSX - Yearly Performance Comparison

	2026 (YTD)	2025
BRGOX Bridgeway Global Opportunities Fund Class N	4.27%	14.76%
BRUSX Bridgeway Ultra Small Company Fund	10.04%	4.95%

Correlation

The correlation between BRGOX and BRUSX is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.15
Correlation (All Time) Calculated using the full available price history since Jan 6, 2025	-0.15

Return for Risk

BRGOX vs. BRUSX — Risk / Return Rank

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

BRGOX

BRGOX Risk / Return Rank: 57
BRGOX Sharpe Ratio Rank: 53
BRGOX Sortino Ratio Rank: 65
BRGOX Omega Ratio Rank: 48
BRGOX Calmar Ratio Rank: 77
BRGOX Martin Ratio Rank: 44

BRUSX

BRUSX Risk / Return Rank: 26
BRUSX Sharpe Ratio Rank: 24
BRUSX Sortino Ratio Rank: 23
BRUSX Omega Ratio Rank: 21
BRUSX Calmar Ratio Rank: 36
BRUSX Martin Ratio Rank: 26

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.

BRGOX vs. BRUSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bridgeway Global Opportunities Fund Class N (BRGOX) and Bridgeway Ultra Small Company Fund (BRUSX). 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.

	BRGOX	BRUSX	Difference
Sharpe ratio Return per unit of total volatility	2.16	1.45	+0.71
Sortino ratio Return per unit of downside risk	3.38	2.03	+1.34
Omega ratio Gain probability vs. loss probability	1.38	1.24	+0.14
Calmar ratio Return relative to maximum drawdown	3.52	2.29	+1.23
Martin ratio Return relative to average drawdown	9.23	6.44	+2.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRGOX vs. BRUSX - Sharpe Ratio Comparison

The current BRGOX Sharpe Ratio is 2.16, which is higher than the BRUSX Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of BRGOX and BRUSX, 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

	BRGOX	BRUSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	1.45	+0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.10	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.80	0.51	+1.29

Drawdowns

BRGOX vs. BRUSX - Drawdown Comparison

The maximum BRGOX drawdown since its inception was -4.37%, smaller than the maximum BRUSX drawdown of -60.38%. Use the drawdown chart below to compare losses from any high point for BRGOX and BRUSX.

Drawdown Indicators

	BRGOX	BRUSX	Difference
Max Drawdown Largest peak-to-trough decline	-4.37%	-60.38%	+56.01%
Max Drawdown (1Y) Largest decline over 1 year	-4.37%	-12.87%	+8.50%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.73%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-39.83%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-55.77%	—
Current Drawdown Current decline from peak	-3.85%	-0.48%	-3.37%
Average Drawdown Average peak-to-trough decline	-1.10%	-13.55%	+12.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	4.58%	-2.91%

Volatility

BRGOX vs. BRUSX - Volatility Comparison

The current volatility for Bridgeway Global Opportunities Fund Class N (BRGOX) is 2.20%, while Bridgeway Ultra Small Company Fund (BRUSX) has a volatility of 4.71%. This indicates that BRGOX experiences smaller price fluctuations and is considered to be less risky than BRUSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRGOX	BRUSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.20%	4.71%	-2.51%
Volatility (6M) Calculated over the trailing 6-month period	4.65%	13.57%	-8.92%
Volatility (1Y) Calculated over the trailing 1-year period	6.85%	21.47%	-14.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.82%	23.23%	-15.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.82%	23.35%	-15.53%

BRGOX vs. BRUSX - Expense Ratio Comparison

BRGOX has a 1.63% expense ratio, which is higher than BRUSX's 1.26% expense ratio.

Dividends

BRGOX vs. BRUSX - Dividend Comparison

BRGOX's dividend yield for the trailing twelve months is around 10.90%, more than BRUSX's 9.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRGOX Bridgeway Global Opportunities Fund Class N	10.90%	11.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BRUSX Bridgeway Ultra Small Company Fund	9.59%	10.56%	2.46%	4.97%	18.41%	7.70%	1.53%	1.14%	13.87%	1.99%	1.12%	1.03%

Frequently Asked Questions

Can I hold both BRGOX and BRUSX in my portfolio?

BRGOX and BRUSX have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BRGOX or BRUSX?

BRUSX has higher volatility (4.71%) compared to BRGOX (2.20%). In terms of maximum drawdown, BRGOX dropped -4.37% vs BRUSX's -60.38%.

Which has better risk-adjusted returns?

BRGOX currently has the higher Sharpe Ratio (2.16 vs 1.45), 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.