CUSIX vs. CHDEX

Last updated Jun 23, 2026

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

Performance

CUSIX vs. CHDEX - Performance Comparison

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

Returns By Period

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

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%

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%

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

CUSIX vs. CHDEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Correlation

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

Return for Risk

CUSIX vs. CHDEX — Risk / Return Rank

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

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

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

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.

CUSIX vs. CHDEX - Risk-Adjusted Trends Comparison

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

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

CUSIX vs. CHDEX - Sharpe Ratio Comparison

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

CUSIX vs. CHDEX - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

CUSIX vs. CHDEX - Volatility Comparison

Cullen Small Cap Value Fund (CUSIX) has a higher volatility of 5.88% compared to Cullen High Dividend Equity Fund (CHDEX) at 2.81%. This indicates that CUSIX's price experiences larger fluctuations and is considered to be riskier than CHDEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

CUSIX vs. CHDEX - Expense Ratio Comparison

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

Dividends

CUSIX vs. CHDEX - Dividend Comparison

CUSIX's dividend yield for the trailing twelve months is around 1.01%, less than CHDEX's 14.06% 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 CUSIX and CHDEX in my portfolio?

CUSIX and CHDEX 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, CUSIX or CHDEX?

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

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.