FESCX vs. FEVIX

Last updated Aug 1, 2026

FESCX (First Eagle Small Cap Opportunity Fund) and FEVIX (First Eagle U.S. Value Fund) are both mutual funds - FESCX is a Small Cap Value Equities fund managed by First Eagle, while FEVIX is a Diversified Portfolio fund managed by First Eagle. Over the past 5 years, FESCX returned 8.86%/yr vs 10.73%/yr for FEVIX. Their 0.80 correlation means they have sometimes moved together and sometimes differently. FESCX charges 1.00%/yr vs 0.83%/yr for FEVIX.

Performance

FESCX vs. FEVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle Small Cap Opportunity Fund (FESCX) and First Eagle U.S. Value Fund (FEVIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FESCX achieves a 25.15% return, which is significantly higher than FEVIX's 4.83% return.

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%

FEVIX

• 1D: -0.52%
• 1M: 1.09%
• 6M: -0.79%
• YTD: 4.83%
• 1Y: 19.22%
• 3Y*: 14.92%
• 5Y*: 10.73%
• 10Y*: 10.58%
• ALL TIME*: 9.25%

*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)
FESCX First Eagle Small Cap Opportunity Fund	$0.00	$0.00	$0.00
FEVIX First Eagle U.S. Value Fund	$0.00	$0.00	$0.00

FESCX vs. FEVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FESCX First Eagle Small Cap Opportunity Fund	25.15%	13.33%	6.47%	16.75%	-14.05%	1.23%
FEVIX First Eagle U.S. Value Fund	4.83%	22.95%	15.94%	14.64%	-5.45%	2.95%

Correlation

The correlation between FESCX and FEVIX 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.	0.73
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (All Time) Calculated using the full available price history since Jul 14, 2021	0.80

Over the past year, the correlation between FESCX and FEVIX has dropped to 0.59 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.

Return for Risk

FESCX vs. FEVIX — Risk / Return Rank

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

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

FEVIX

FEVIX Risk / Return Rank: 65
FEVIX Sharpe Ratio Rank: 76
FEVIX Sortino Ratio Rank: 73
FEVIX Omega Ratio Rank: 71
FEVIX Calmar Ratio Rank: 65
FEVIX Martin Ratio Rank: 39

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.

FESCX vs. FEVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Small Cap Opportunity Fund (FESCX) and First Eagle U.S. Value Fund (FEVIX). 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.

	FESCX	FEVIX	Difference
Sharpe ratio: Return per unit of total volatility	2.03	1.78	+0.25
Sortino ratio: Return per unit of downside risk	2.89	2.47	+0.42
Omega ratio: Gain probability vs. loss probability	1.35	1.31	+0.03
Calmar ratio: Return relative to maximum drawdown	3.93	2.18	+1.74
Martin ratio: Return relative to average drawdown	13.17	5.67	+7.50

FESCX vs. FEVIX - Sharpe Ratio Comparison

The current FESCX Sharpe Ratio is 2.03, which is comparable to the FEVIX Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of FESCX and FEVIX, 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

FESCX vs. FEVIX - Drawdown Comparison

The maximum FESCX drawdown since its inception was -28.53%, smaller than the maximum FEVIX drawdown of -36.44%. Use the drawdown chart below to compare losses from any high point for FESCX and FEVIX.

Drawdown Indicators

	FESCX	FEVIX	Difference
Max Drawdown Largest peak-to-trough decline	-28.53%	-36.44%	+7.91%
Max Drawdown (1Y) Largest decline over 1 year	-10.26%	-8.72%	-1.54%
Max Drawdown (3Y) Largest decline over 3 years	-28.53%	-10.47%	-18.06%
Max Drawdown (5Y) Largest decline over 5 years	-28.53%	-19.34%	-9.19%
Max Drawdown (10Y) Largest decline over 10 years	—	-29.97%	—
Current Drawdown Current decline from peak	-6.02%	-3.70%	-2.32%
Average Drawdown Average peak-to-trough decline	-8.64%	-4.05%	-4.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	3.35%	-0.29%

Volatility

FESCX vs. FEVIX - Volatility Comparison

First Eagle Small Cap Opportunity Fund (FESCX) has a higher volatility of 4.88% compared to First Eagle U.S. Value Fund (FEVIX) at 3.43%. This indicates that FESCX's price experiences larger fluctuations and is considered to be riskier than FEVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FESCX	FEVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.88%	3.43%	+1.45%
Volatility (6M) Calculated over the trailing 6-month period	14.40%	8.41%	+5.99%
Volatility (1Y) Calculated over the trailing 1-year period	19.91%	10.74%	+9.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.54%	12.53%	+10.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.56%	13.79%	+8.77%

FESCX vs. FEVIX - Expense Ratio Comparison

FESCX has a 1.00% expense ratio, which is higher than FEVIX's 0.83% expense ratio.

Dividends

FESCX vs. FEVIX - Dividend Comparison

FESCX's dividend yield for the trailing twelve months is around 0.83%, less than FEVIX's 9.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
FEVIX First Eagle U.S. Value Fund	9.03%	9.46%	6.79%	6.67%	8.32%	9.28%	1.93%	8.58%	16.27%	9.09%	8.76%	5.07%

Frequently Asked Questions

Can I hold both FESCX and FEVIX in my portfolio?

FESCX and FEVIX 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, FESCX or FEVIX?

FESCX has higher volatility (4.88%) compared to FEVIX (3.43%). In terms of maximum drawdown, FESCX dropped -28.53% vs FEVIX's -36.44%.

Which has better risk-adjusted returns?

FESCX currently has the higher Sharpe Ratio (2.03 vs 1.78), 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.