FAT vs. HLAL

Last updated Jun 4, 2026

FAT (FAT Brands Inc.) is a stock, while HLAL (Wahed FTSE USA Shariah ETF) is Large Cap Growth Equities fund tracking the FTSE Shariah USA Index. Over the past 5 years, FAT returned -49.21%/yr vs 15.86%/yr for HLAL. At a 0.19 correlation, their price movements are largely independent.

Performance

FAT vs. HLAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FAT Brands Inc. (FAT) and Wahed FTSE USA Shariah ETF (HLAL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAT achieves a -48.32% return, which is significantly lower than HLAL's 18.72% return.

FAT

• 1D: 0.00%
• 1M: 0.00%
• YTD: -48.32%
• 6M: -69.26%
• 1Y: -92.84%
• 3Y*: -62.32%
• 5Y*: -49.21%
• 10Y*: —

HLAL

• 1D: -0.07%
• 1M: 9.45%
• YTD: 18.72%
• 6M: 17.75%
• 1Y: 43.63%
• 3Y*: 22.04%
• 5Y*: 15.86%
• 10Y*: —

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

FAT vs. HLAL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FAT FAT Brands Inc.	-48.32%	-89.39%	-3.66%	32.64%	-50.03%	86.50%	30.77%	13.47%
HLAL Wahed FTSE USA Shariah ETF	18.72%	18.30%	16.70%	30.13%	-17.56%	28.64%	24.65%	10.96%

Correlation

The correlation between FAT and HLAL is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019	0.19

Return for Risk

FAT vs. HLAL — Risk / Return Rank

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

FAT

FAT Risk / Return Rank: 3
FAT Sharpe Ratio Rank: 5
FAT Sortino Ratio Rank: 1
FAT Omega Ratio Rank: 0
FAT Calmar Ratio Rank: 1
FAT Martin Ratio Rank: 9

HLAL

HLAL Risk / Return Rank: 88
HLAL Sharpe Ratio Rank: 91
HLAL Sortino Ratio Rank: 92
HLAL Omega Ratio Rank: 90
HLAL Calmar Ratio Rank: 81
HLAL Martin Ratio Rank: 88

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.

FAT vs. HLAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FAT Brands Inc. (FAT) and Wahed FTSE USA Shariah ETF (HLAL). 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.

	FAT	HLAL	Difference
Sharpe ratio: Return per unit of total volatility	-0.96	3.33	-4.29
Sortino ratio: Return per unit of downside risk	-2.59	4.62	-7.21
Omega ratio: Gain probability vs. loss probability	0.55	1.59	-1.04
Calmar ratio: Return relative to maximum drawdown	-0.99	4.30	-5.29
Martin ratio: Return relative to average drawdown	-1.36	19.85	-21.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FAT vs. HLAL - Sharpe Ratio Comparison

The current FAT Sharpe Ratio is -0.96, which is lower than the HLAL Sharpe Ratio of 3.33. The chart below compares the historical Sharpe Ratios of FAT and HLAL, 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

	FAT	HLAL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.96	3.33	-4.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.75	0.91	-1.65
Sharpe Ratio (All Time) Calculated using the full available price history	-0.41	0.89	-1.31

Drawdowns

FAT vs. HLAL - Drawdown Comparison

The maximum FAT drawdown since its inception was -97.48%, which is greater than HLAL's maximum drawdown of -33.57%. Use the drawdown chart below to compare losses from any high point for FAT and HLAL.

Drawdown Indicators

	FAT	HLAL	Difference
Max Drawdown Largest peak-to-trough decline	-97.48%	-33.57%	-63.91%
Max Drawdown (1Y) Largest decline over 1 year	-94.21%	-10.20%	-84.01%
Max Drawdown (3Y) Largest decline over 3 years	-96.59%	-21.67%	-74.92%
Max Drawdown (5Y) Largest decline over 5 years	-97.48%	-23.18%	-74.30%
Current Drawdown Current decline from peak	-97.48%	-0.07%	-97.41%
Average Drawdown Average peak-to-trough decline	-49.85%	-5.00%	-44.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	67.51%	2.20%	+65.31%

Volatility

FAT vs. HLAL - Volatility Comparison

The current volatility for FAT Brands Inc. (FAT) is 0.00%, while Wahed FTSE USA Shariah ETF (HLAL) has a volatility of 3.70%. This indicates that FAT experiences smaller price fluctuations and is considered to be less risky than HLAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAT	HLAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	3.70%	-3.70%
Volatility (6M) Calculated over the trailing 6-month period	92.92%	9.95%	+82.97%
Volatility (1Y) Calculated over the trailing 1-year period	97.68%	13.17%	+84.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.34%	17.60%	+48.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	77.26%	20.21%	+57.05%

Dividends

FAT vs. HLAL - Dividend Comparison

FAT has not paid dividends to shareholders, while HLAL's dividend yield for the trailing twelve months is around 0.44%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FAT FAT Brands Inc.	0.00%	0.00%	10.53%	9.24%	10.92%	4.91%	0.00%	2.64%	7.66%
HLAL Wahed FTSE USA Shariah ETF	0.44%	0.53%	0.58%	0.72%	1.15%	0.78%	0.97%	0.72%	0.00%

Frequently Asked Questions

Can I hold both FAT and HLAL in my portfolio?

FAT and HLAL have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAT or HLAL?

HLAL has higher volatility (3.70%) compared to FAT (0.00%). In terms of maximum drawdown, FAT dropped -97.48% vs HLAL's -33.57%.

Which has better risk-adjusted returns?

HLAL currently has the higher Sharpe Ratio (3.33 vs -0.96), 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.