EEOFX vs. USBNX

Last updated Jun 24, 2026

EEOFX (Essex Environmental Opportunities Fund) and USBNX (Pear Tree Polaris Small Cap Fund) are both mutual funds - EEOFX is a Mid Cap Growth Equities fund managed by Pear Tree Funds, while USBNX is a Small Cap Value Equities fund managed by Pear Tree Funds. Over the past 5 years, EEOFX returned 2.48%/yr vs 6.50%/yr for USBNX. A 0.72 correlation means they provide meaningful diversification when combined. EEOFX charges 2.11%/yr vs 1.50%/yr for USBNX.

Performance

EEOFX vs. USBNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Essex Environmental Opportunities Fund (EEOFX) and Pear Tree Polaris Small Cap Fund (USBNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EEOFX achieves a 26.50% return, which is significantly higher than USBNX's 14.55% return.

EEOFX

• 1D: 0.94%
• 1M: 0.99%
• YTD: 26.50%
• 6M: 23.74%
• 1Y: 50.87%
• 3Y*: 14.08%
• 5Y*: 2.48%
• 10Y*: —

USBNX

• 1D: 0.48%
• 1M: 3.37%
• YTD: 14.55%
• 6M: 12.92%
• 1Y: 23.92%
• 3Y*: 15.27%
• 5Y*: 6.50%
• 10Y*: 8.44%

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

EEOFX vs. USBNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEOFX Essex Environmental Opportunities Fund	26.50%	23.55%	1.32%	-1.53%	-27.88%	10.83%	62.80%	25.43%	-15.79%	3.20%
USBNX Pear Tree Polaris Small Cap Fund	14.55%	8.02%	8.64%	12.83%	-5.09%	15.35%	-4.77%	23.53%	-11.05%	8.71%

Correlation

The correlation between EEOFX and USBNX is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Sep 1, 2017	0.72

The correlation between EEOFX and USBNX shifts across timeframes, from 0.56 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

EEOFX vs. USBNX — Risk / Return Rank

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

EEOFX

EEOFX Risk / Return Rank: 66
EEOFX Sharpe Ratio Rank: 70
EEOFX Sortino Ratio Rank: 59
EEOFX Omega Ratio Rank: 51
EEOFX Calmar Ratio Rank: 86
EEOFX Martin Ratio Rank: 66

USBNX

USBNX Risk / Return Rank: 47
USBNX Sharpe Ratio Rank: 43
USBNX Sortino Ratio Rank: 47
USBNX Omega Ratio Rank: 41
USBNX Calmar Ratio Rank: 60
USBNX Martin Ratio Rank: 44

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.

EEOFX vs. USBNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Essex Environmental Opportunities Fund (EEOFX) and Pear Tree Polaris Small Cap Fund (USBNX). 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.

	EEOFX	USBNX	Difference
Sharpe ratio: Return per unit of total volatility	2.23	1.77	+0.46
Sortino ratio: Return per unit of downside risk	2.94	2.66	+0.28
Omega ratio: Gain probability vs. loss probability	1.36	1.32	+0.04
Calmar ratio: Return relative to maximum drawdown	3.93	2.85	+1.08
Martin ratio: Return relative to average drawdown	12.15	8.80	+3.35

EEOFX vs. USBNX - Sharpe Ratio Comparison

The current EEOFX Sharpe Ratio is 2.23, which is comparable to the USBNX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of EEOFX and USBNX, 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

EEOFX vs. USBNX - Drawdown Comparison

The maximum EEOFX drawdown since its inception was -50.17%, smaller than the maximum USBNX drawdown of -64.40%. Use the drawdown chart below to compare losses from any high point for EEOFX and USBNX.

Drawdown Indicators

	EEOFX	USBNX	Difference
Max Drawdown Largest peak-to-trough decline	-50.17%	-64.40%	+14.23%
Max Drawdown (1Y) Largest decline over 1 year	-13.49%	-9.19%	-4.30%
Max Drawdown (3Y) Largest decline over 3 years	-31.32%	-21.56%	-9.76%
Max Drawdown (5Y) Largest decline over 5 years	-50.17%	-26.01%	-24.16%
Max Drawdown (10Y) Largest decline over 10 years	—	-46.96%	—
Current Drawdown Current decline from peak	-3.90%	-0.44%	-3.46%
Average Drawdown Average peak-to-trough decline	-19.57%	-13.61%	-5.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.34%	2.96%	+1.38%

Volatility

EEOFX vs. USBNX - Volatility Comparison

Essex Environmental Opportunities Fund (EEOFX) has a higher volatility of 10.55% compared to Pear Tree Polaris Small Cap Fund (USBNX) at 3.47%. This indicates that EEOFX's price experiences larger fluctuations and is considered to be riskier than USBNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEOFX	USBNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.55%	3.47%	+7.08%
Volatility (6M) Calculated over the trailing 6-month period	18.56%	9.33%	+9.23%
Volatility (1Y) Calculated over the trailing 1-year period	23.77%	14.85%	+8.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.23%	18.72%	+6.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.88%	21.67%	+3.21%

EEOFX vs. USBNX - Expense Ratio Comparison

EEOFX has a 2.11% expense ratio, which is higher than USBNX's 1.50% expense ratio.

Dividends

EEOFX vs. USBNX - Dividend Comparison

EEOFX's dividend yield for the trailing twelve months is around 0.05%, less than USBNX's 12.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEOFX Essex Environmental Opportunities Fund	0.05%	0.06%	0.00%	0.00%	0.01%	6.63%	1.62%	0.00%	0.00%	0.00%	0.00%	0.00%
USBNX Pear Tree Polaris Small Cap Fund	12.06%	13.81%	3.27%	0.86%	10.05%	0.75%	0.68%	7.91%	8.39%	6.21%	1.17%	7.39%

Frequently Asked Questions

Can I hold both EEOFX and USBNX in my portfolio?

EEOFX and USBNX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EEOFX or USBNX?

EEOFX has higher volatility (10.55%) compared to USBNX (3.47%). In terms of maximum drawdown, EEOFX dropped -50.17% vs USBNX's -64.40%.

Which has better risk-adjusted returns?

EEOFX currently has the higher Sharpe Ratio (2.23 vs 1.77), 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.