CHDEX vs. CUSIX

Last updated Jun 23, 2026

CHDEX (Cullen High Dividend Equity Fund) and CUSIX (Cullen Small Cap Value Fund) are both mutual funds - CHDEX is a Large Cap Value Equities fund managed by Cullen Funds Trust, while CUSIX is a Small Cap Value Equities fund managed by Cullen Funds Trust. Over the past 10 years, CHDEX returned 9.81%/yr vs 7.72%/yr for CUSIX. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 1.00% expense ratio.

Performance

CHDEX vs. CUSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cullen High Dividend Equity Fund (CHDEX) and Cullen Small Cap Value Fund (CUSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CHDEX achieves a 8.42% return, which is significantly higher than CUSIX's 6.68% return. Over the past 10 years, CHDEX has outperformed CUSIX with an annualized return of 9.81%, while CUSIX has yielded a comparatively lower 7.72% annualized return.

CHDEX

• 1D: -0.42%
• 1M: -0.55%
• YTD: 8.42%
• 6M: 8.33%
• 1Y: 21.37%
• 3Y*: 16.32%
• 5Y*: 10.88%
• 10Y*: 9.81%

CUSIX

• 1D: 1.59%
• 1M: 4.99%
• YTD: 6.68%
• 6M: 4.86%
• 1Y: 16.24%
• 3Y*: 6.60%
• 5Y*: 3.48%
• 10Y*: 7.72%

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

CHDEX vs. CUSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CHDEX Cullen High Dividend Equity Fund	8.42%	18.04%	20.77%	2.76%	-4.50%	26.34%	-4.36%	19.69%	-5.40%	16.79%
CUSIX Cullen Small Cap Value Fund	6.68%	-1.21%	4.80%	5.77%	-0.75%	22.04%	12.07%	22.83%	-9.78%	0.89%

Correlation

The correlation between CHDEX and CUSIX is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Oct 1, 2009	0.77

The correlation between CHDEX and CUSIX shifts across timeframes, from 0.65 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CHDEX vs. CUSIX — Risk / Return Rank

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

CHDEX

CHDEX Risk / Return Rank: 72
CHDEX Sharpe Ratio Rank: 75
CHDEX Sortino Ratio Rank: 77
CHDEX Omega Ratio Rank: 64
CHDEX Calmar Ratio Rank: 78
CHDEX Martin Ratio Rank: 66

CUSIX

CUSIX Risk / Return Rank: 9
CUSIX Sharpe Ratio Rank: 9
CUSIX Sortino Ratio Rank: 10
CUSIX Omega Ratio Rank: 9
CUSIX Calmar Ratio Rank: 10
CUSIX Martin Ratio Rank: 7

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.

CHDEX vs. CUSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cullen High Dividend Equity Fund (CHDEX) and Cullen Small Cap Value Fund (CUSIX). 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.

	CHDEX	CUSIX	Difference
Sharpe ratio: Return per unit of total volatility	2.32	0.70	+1.62
Sortino ratio: Return per unit of downside risk	3.36	1.16	+2.20
Omega ratio: Gain probability vs. loss probability	1.40	1.13	+0.27
Calmar ratio: Return relative to maximum drawdown	3.34	0.89	+2.46
Martin ratio: Return relative to average drawdown	12.08	1.87	+10.21

CHDEX vs. CUSIX - Sharpe Ratio Comparison

The current CHDEX Sharpe Ratio is 2.32, which is higher than the CUSIX Sharpe Ratio of 0.70. The chart below compares the historical Sharpe Ratios of CHDEX and CUSIX, 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

CHDEX vs. CUSIX - Drawdown Comparison

The maximum CHDEX drawdown since its inception was -49.12%, which is greater than CUSIX's maximum drawdown of -45.46%. Use the drawdown chart below to compare losses from any high point for CHDEX and CUSIX.

Drawdown Indicators

	CHDEX	CUSIX	Difference
Max Drawdown Largest peak-to-trough decline	-49.12%	-45.46%	-3.66%
Max Drawdown (1Y) Largest decline over 1 year	-6.45%	-18.49%	+12.04%
Max Drawdown (3Y) Largest decline over 3 years	-12.90%	-31.76%	+18.86%
Max Drawdown (5Y) Largest decline over 5 years	-18.57%	-31.76%	+13.19%
Max Drawdown (10Y) Largest decline over 10 years	-37.04%	-45.46%	+8.42%
Current Drawdown Current decline from peak	-1.47%	-7.96%	+6.49%
Average Drawdown Average peak-to-trough decline	-6.74%	-8.53%	+1.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	8.76%	-6.98%

Volatility

CHDEX vs. CUSIX - Volatility Comparison

The current volatility for Cullen High Dividend Equity Fund (CHDEX) is 2.81%, while Cullen Small Cap Value Fund (CUSIX) has a volatility of 5.88%. This indicates that CHDEX experiences smaller price fluctuations and is considered to be less risky than CUSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CHDEX	CUSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.81%	5.88%	-3.07%
Volatility (6M) Calculated over the trailing 6-month period	6.99%	15.88%	-8.89%
Volatility (1Y) Calculated over the trailing 1-year period	9.30%	23.45%	-14.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.08%	23.60%	-9.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.12%	25.05%	-8.93%

CHDEX vs. CUSIX - Expense Ratio Comparison

Both CHDEX and CUSIX have an expense ratio of 1.00%.

Dividends

CHDEX vs. CUSIX - Dividend Comparison

CHDEX's dividend yield for the trailing twelve months is around 14.06%, more than CUSIX's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHDEX Cullen High Dividend Equity Fund	14.06%	15.18%	25.41%	12.44%	7.46%	10.89%	11.08%	6.24%	14.14%	9.93%	5.24%	5.05%
CUSIX Cullen Small Cap Value Fund	1.01%	1.06%	5.46%	1.71%	7.61%	11.67%	0.21%	3.01%	5.98%	19.35%	0.67%	2.63%

Frequently Asked Questions

Can I hold both CHDEX and CUSIX in my portfolio?

CHDEX and CUSIX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CHDEX or CUSIX?

CUSIX has higher volatility (5.88%) compared to CHDEX (2.81%). In terms of maximum drawdown, CHDEX dropped -49.12% vs CUSIX's -45.46%.

Which has better risk-adjusted returns?

CHDEX currently has the higher Sharpe Ratio (2.32 vs 0.70), 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.