FCUEX vs. TANDX

Last updated Jun 4, 2026

FCUEX (Fiera Capital U.S. Equity Long-Term Quality Fund) and TANDX (Castle Tandem Fund) are both Large Cap Blend Equities funds. Over the past 5 years, FCUEX returned 7.99%/yr vs 1.63%/yr for TANDX. Their correlation of 0.84 suggests significant overlap in exposure. FCUEX charges 1.00%/yr vs 1.59%/yr for TANDX.

Performance

FCUEX vs. TANDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fiera Capital U.S. Equity Long-Term Quality Fund (FCUEX) and Castle Tandem Fund (TANDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCUEX achieves a 0.44% return, which is significantly higher than TANDX's -13.18% return.

FCUEX

• 1D: -1.07%
• 1M: -1.55%
• YTD: 0.44%
• 6M: -0.29%
• 1Y: 8.22%
• 3Y*: 10.05%
• 5Y*: 7.99%
• 10Y*: —

TANDX

• 1D: -0.91%
• 1M: -3.85%
• YTD: -13.18%
• 6M: -13.13%
• 1Y: -15.71%
• 3Y*: 1.15%
• 5Y*: 1.63%
• 10Y*: —

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

FCUEX vs. TANDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FCUEX Fiera Capital U.S. Equity Long-Term Quality Fund	0.44%	7.63%	10.98%	21.73%	-15.78%	32.94%	23.14%	9.69%
TANDX Castle Tandem Fund	-13.18%	3.67%	7.66%	8.42%	-7.87%	19.03%	13.39%	4.17%

Correlation

The correlation between FCUEX and TANDX is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Oct 1, 2019	0.84

The correlation between FCUEX and TANDX shifts across timeframes, from 0.71 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FCUEX vs. TANDX — Risk / Return Rank

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

FCUEX

FCUEX Risk / Return Rank: 9
FCUEX Sharpe Ratio Rank: 9
FCUEX Sortino Ratio Rank: 9
FCUEX Omega Ratio Rank: 9
FCUEX Calmar Ratio Rank: 7
FCUEX Martin Ratio Rank: 8

TANDX

TANDX Risk / Return Rank: 0
TANDX Sharpe Ratio Rank: 0
TANDX Sortino Ratio Rank: 0
TANDX Omega Ratio Rank: 0
TANDX Calmar Ratio Rank: 0
TANDX Martin Ratio Rank: 0

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.

FCUEX vs. TANDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fiera Capital U.S. Equity Long-Term Quality Fund (FCUEX) and Castle Tandem Fund (TANDX). 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.

	FCUEX	TANDX	Difference
Sharpe ratio Return per unit of total volatility	0.75	-1.70	+2.46
Sortino ratio Return per unit of downside risk	1.15	-2.29	+3.44
Omega ratio Gain probability vs. loss probability	1.13	0.74	+0.39
Calmar ratio Return relative to maximum drawdown	0.74	-0.98	+1.72
Martin ratio Return relative to average drawdown	2.44	-2.30	+4.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCUEX vs. TANDX - Sharpe Ratio Comparison

The current FCUEX Sharpe Ratio is 0.75, which is higher than the TANDX Sharpe Ratio of -1.70. The chart below compares the historical Sharpe Ratios of FCUEX and TANDX, 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

	FCUEX	TANDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	-1.70	+2.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.00	+0.51
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.01	+0.64

Drawdowns

FCUEX vs. TANDX - Drawdown Comparison

The maximum FCUEX drawdown since its inception was -33.02%, smaller than the maximum TANDX drawdown of -93.93%. Use the drawdown chart below to compare losses from any high point for FCUEX and TANDX.

Drawdown Indicators

	FCUEX	TANDX	Difference
Max Drawdown Largest peak-to-trough decline	-33.02%	-93.93%	+60.91%
Max Drawdown (1Y) Largest decline over 1 year	-11.33%	-16.13%	+4.80%
Max Drawdown (3Y) Largest decline over 3 years	-14.54%	-93.93%	+79.39%
Max Drawdown (5Y) Largest decline over 5 years	-25.24%	-93.93%	+68.69%
Current Drawdown Current decline from peak	-3.34%	-93.93%	+90.59%
Average Drawdown Average peak-to-trough decline	-5.35%	-20.25%	+14.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	6.85%	-3.42%

Volatility

FCUEX vs. TANDX - Volatility Comparison

Fiera Capital U.S. Equity Long-Term Quality Fund (FCUEX) has a higher volatility of 3.12% compared to Castle Tandem Fund (TANDX) at 2.52%. This indicates that FCUEX's price experiences larger fluctuations and is considered to be riskier than TANDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCUEX	TANDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	2.52%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	8.61%	7.18%	+1.43%
Volatility (1Y) Calculated over the trailing 1-year period	11.19%	9.26%	+1.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.62%	595.57%	-579.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.40%	496.55%	-477.15%

FCUEX vs. TANDX - Expense Ratio Comparison

FCUEX has a 1.00% expense ratio, which is lower than TANDX's 1.59% expense ratio.

Dividends

FCUEX vs. TANDX - Dividend Comparison

FCUEX's dividend yield for the trailing twelve months is around 0.94%, less than TANDX's 7.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FCUEX Fiera Capital U.S. Equity Long-Term Quality Fund	0.94%	0.94%	1.34%	0.29%	3.47%	0.86%	1.20%	0.26%
TANDX Castle Tandem Fund	7.11%	6.17%	3.71%	2.10%	1.48%	4.57%	0.33%	0.37%

Frequently Asked Questions

Can I hold both FCUEX and TANDX in my portfolio?

FCUEX and TANDX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCUEX or TANDX?

FCUEX has higher volatility (3.12%) compared to TANDX (2.52%). In terms of maximum drawdown, FCUEX dropped -33.02% vs TANDX's -93.93%.

Which has better risk-adjusted returns?

FCUEX currently has the higher Sharpe Ratio (0.75 vs -1.70), 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.