FEBAX vs. FESCX

Last updated Aug 1, 2026

FEBAX (First Eagle Global Income Builder Fund Class A) and FESCX (First Eagle Small Cap Opportunity Fund) are both mutual funds - FEBAX is a Global Allocation fund actively managed by First Eagle, while FESCX is a Small Cap Value Equities fund managed by First Eagle. Over the past 5 years, FEBAX returned 9.77%/yr vs 8.86%/yr for FESCX. Their 0.69 correlation means they have sometimes moved together and sometimes differently. FEBAX charges 1.17%/yr vs 1.00%/yr for FESCX.

Performance

FEBAX vs. FESCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle Global Income Builder Fund Class A (FEBAX) and First Eagle Small Cap Opportunity Fund (FESCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEBAX achieves a 10.02% return, which is significantly lower than FESCX's 25.15% return.

FEBAX

• 1D: 0.59%
• 1M: 1.90%
• 6M: 3.65%
• YTD: 10.02%
• 1Y: 22.75%
• 3Y*: 14.77%
• 5Y*: 9.77%
• 10Y*: 8.38%
• ALL TIME*: 7.55%

FESCX

• 1D: 1.11%
• 1M: -2.87%
• 6M: 16.52%
• YTD: 25.15%
• 1Y: 43.50%
• 3Y*: 14.28%
• 5Y*: 8.86%
• 10Y*: —
• ALL TIME*: 8.85%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FEBAX First Eagle Global Income Builder Fund Class A	$0.00	$0.00	$0.00
FESCX First Eagle Small Cap Opportunity Fund	$0.00	$0.00	$0.00

FEBAX vs. FESCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FEBAX First Eagle Global Income Builder Fund Class A	10.02%	26.23%	8.12%	7.85%	-3.55%	1.81%
FESCX First Eagle Small Cap Opportunity Fund	25.15%	13.33%	6.47%	16.75%	-14.05%	1.23%

Correlation

The correlation between FEBAX and FESCX is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.59
Correlation (3Y) Balances recent behavior with more history.	0.62
Correlation (5Y) Shows whether the relationship held over a longer period.	0.69
Correlation (All Time) Calculated using the full available price history since Jul 14, 2021	0.69

The correlation between FEBAX and FESCX shifts across timeframes, from 0.59 (1 year) to 0.69 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FEBAX vs. FESCX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FEBAX

FEBAX Risk / Return Rank: 80
FEBAX Sharpe Ratio Rank: 94
FEBAX Sortino Ratio Rank: 89
FEBAX Omega Ratio Rank: 89
FEBAX Calmar Ratio Rank: 77
FEBAX Martin Ratio Rank: 52

FESCX

FESCX Risk / Return Rank: 86
FESCX Sharpe Ratio Rank: 84
FESCX Sortino Ratio Rank: 82
FESCX Omega Ratio Rank: 77
FESCX Calmar Ratio Rank: 94
FESCX Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FEBAX vs. FESCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Global Income Builder Fund Class A (FEBAX) and First Eagle Small Cap Opportunity Fund (FESCX). 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.

	FEBAX	FESCX	Difference
Sharpe ratio: Return per unit of total volatility	2.50	2.03	+0.47
Sortino ratio: Return per unit of downside risk	3.38	2.89	+0.49
Omega ratio: Gain probability vs. loss probability	1.47	1.35	+0.12
Calmar ratio: Return relative to maximum drawdown	2.58	3.93	-1.34
Martin ratio: Return relative to average drawdown	7.41	13.17	-5.76

FEBAX vs. FESCX - Sharpe Ratio Comparison

The current FEBAX Sharpe Ratio is 2.50, which is comparable to the FESCX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of FEBAX and FESCX, 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

FEBAX vs. FESCX - Drawdown Comparison

The maximum FEBAX drawdown since its inception was -23.04%, smaller than the maximum FESCX drawdown of -28.53%. Use the drawdown chart below to compare losses from any high point for FEBAX and FESCX.

Drawdown Indicators

	FEBAX	FESCX	Difference
Max Drawdown Largest peak-to-trough decline	-23.04%	-28.53%	+5.49%
Max Drawdown (1Y) Largest decline over 1 year	-8.65%	-10.26%	+1.61%
Max Drawdown (3Y) Largest decline over 3 years	-8.65%	-28.53%	+19.88%
Max Drawdown (5Y) Largest decline over 5 years	-15.85%	-28.53%	+12.68%
Max Drawdown (10Y) Largest decline over 10 years	-23.04%	—	—
Current Drawdown Current decline from peak	-1.93%	-6.02%	+4.09%
Average Drawdown Average peak-to-trough decline	-2.95%	-8.64%	+5.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	3.06%	-0.05%

Volatility

FEBAX vs. FESCX - Volatility Comparison

The current volatility for First Eagle Global Income Builder Fund Class A (FEBAX) is 2.37%, while First Eagle Small Cap Opportunity Fund (FESCX) has a volatility of 4.88%. This indicates that FEBAX experiences smaller price fluctuations and is considered to be less risky than FESCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEBAX	FESCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.37%	4.88%	-2.51%
Volatility (6M) Calculated over the trailing 6-month period	7.61%	14.40%	-6.79%
Volatility (1Y) Calculated over the trailing 1-year period	8.97%	19.91%	-10.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.02%	22.54%	-13.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.20%	22.56%	-13.36%

FEBAX vs. FESCX - Expense Ratio Comparison

FEBAX has a 1.17% expense ratio, which is higher than FESCX's 1.00% expense ratio.

Dividends

FEBAX vs. FESCX - Dividend Comparison

FEBAX's dividend yield for the trailing twelve months is around 3.72%, more than FESCX's 0.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEBAX First Eagle Global Income Builder Fund Class A	3.72%	4.14%	5.39%	2.80%	3.03%	7.61%	3.07%	2.49%	2.40%	2.51%	3.13%	3.38%
FESCX First Eagle Small Cap Opportunity Fund	0.83%	1.03%	1.56%	0.60%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FEBAX and FESCX in my portfolio?

FEBAX and FESCX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEBAX or FESCX?

FESCX has higher volatility (4.88%) compared to FEBAX (2.37%). In terms of maximum drawdown, FEBAX dropped -23.04% vs FESCX's -28.53%.

Which has better risk-adjusted returns?

FEBAX currently has the higher Sharpe Ratio (2.50 vs 2.03), 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.