FGSM vs. OASC

Last updated Aug 1, 2026

FGSM (Frontier Asset Global Small Cap Equity ETF) and OASC (OneAscent Enhanced Small and Mid Cap ETF) are both exchange-traded funds - FGSM is a Global Equities fund actively managed by Frontier, while OASC is a Small Cap Blend Equities fund actively managed by Oneascent. Both are actively managed. Over the past year, FGSM returned 30.24% vs 33.23% for OASC. Their correlation of 0.89 means they have usually moved in the same direction. FGSM charges 0.90%/yr vs 0.69%/yr for OASC.

Performance

FGSM vs. OASC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Frontier Asset Global Small Cap Equity ETF (FGSM) and OneAscent Enhanced Small and Mid Cap ETF (OASC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FGSM having a 15.95% return and OASC slightly lower at 15.43%.

FGSM

• 1D: -0.22%
• 1M: -0.06%
• 6M: 9.69%
• YTD: 15.95%
• 1Y: 30.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.42%

OASC

• 1D: -0.60%
• 1M: -2.56%
• 6M: 12.75%
• YTD: 15.43%
• 1Y: 33.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.61%

*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)
FGSM Frontier Asset Global Small Cap Equity ETF	$98.06K	$85.57K	$284.42K
OASC OneAscent Enhanced Small and Mid Cap ETF	$560.82K	$529.42K	$419.26K

FGSM vs. OASC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FGSM Frontier Asset Global Small Cap Equity ETF	15.95%	21.33%	-0.27%
OASC OneAscent Enhanced Small and Mid Cap ETF	15.43%	8.91%	0.07%

Correlation

The correlation between FGSM and OASC is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (All Time) Calculated using the full available price history since Dec 20, 2024	0.89

The correlation between FGSM and OASC has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.

Return for Risk

FGSM vs. OASC — Risk / Return Rank

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

FGSM

FGSM Risk / Return Rank: 83
FGSM Sharpe Ratio Rank: 83
FGSM Sortino Ratio Rank: 84
FGSM Omega Ratio Rank: 81
FGSM Calmar Ratio Rank: 81
FGSM Martin Ratio Rank: 84

OASC

OASC Risk / Return Rank: 80
OASC Sharpe Ratio Rank: 74
OASC Sortino Ratio Rank: 78
OASC Omega Ratio Rank: 69
OASC Calmar Ratio Rank: 91
OASC Martin Ratio Rank: 86

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.

FGSM vs. OASC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Frontier Asset Global Small Cap Equity ETF (FGSM) and OneAscent Enhanced Small and Mid Cap ETF (OASC). 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.

	FGSM	OASC	Difference
Sharpe ratio: Return per unit of total volatility	1.94	1.71	+0.23
Sortino ratio: Return per unit of downside risk	2.78	2.54	+0.24
Omega ratio: Gain probability vs. loss probability	1.34	1.29	+0.05
Calmar ratio: Return relative to maximum drawdown	2.98	4.11	-1.13
Martin ratio: Return relative to average drawdown	11.69	12.70	-1.02

FGSM vs. OASC - Sharpe Ratio Comparison

The current FGSM Sharpe Ratio is 1.94, which is comparable to the OASC Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of FGSM and OASC, 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

FGSM vs. OASC - Drawdown Comparison

The maximum FGSM drawdown since its inception was -17.72%, smaller than the maximum OASC drawdown of -27.00%. Use the drawdown chart below to compare losses from any high point for FGSM and OASC.

Drawdown Indicators

	FGSM	OASC	Difference
Max Drawdown Largest peak-to-trough decline	-17.72%	-27.00%	+9.28%
Max Drawdown (1Y) Largest decline over 1 year	-9.84%	-7.67%	-2.17%
Current Drawdown Current decline from peak	-0.85%	-5.41%	+4.56%
Average Drawdown Average peak-to-trough decline	-2.08%	-5.78%	+3.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	2.48%	+0.03%

Volatility

FGSM vs. OASC - Volatility Comparison

The current volatility for Frontier Asset Global Small Cap Equity ETF (FGSM) is 3.70%, while OneAscent Enhanced Small and Mid Cap ETF (OASC) has a volatility of 5.14%. This indicates that FGSM experiences smaller price fluctuations and is considered to be less risky than OASC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGSM	OASC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.70%	5.14%	-1.44%
Volatility (6M) Calculated over the trailing 6-month period	11.67%	13.48%	-1.81%
Volatility (1Y) Calculated over the trailing 1-year period	15.15%	18.51%	-3.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.48%	20.79%	-3.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.48%	20.79%	-3.31%

FGSM vs. OASC - Expense Ratio Comparison

FGSM has a 0.90% expense ratio, which is higher than OASC's 0.69% expense ratio.

Dividends

FGSM vs. OASC - Dividend Comparison

FGSM's dividend yield for the trailing twelve months is around 1.29%, more than OASC's 0.46% yield.

Position	TTM	2025	2024
FGSM Frontier Asset Global Small Cap Equity ETF	1.29%	1.56%	0.00%
OASC OneAscent Enhanced Small and Mid Cap ETF	0.46%	0.53%	0.46%

Frequently Asked Questions

Can I hold both FGSM and OASC in my portfolio?

FGSM and OASC have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FGSM or OASC?

OASC has higher volatility (5.14%) compared to FGSM (3.70%). In terms of maximum drawdown, FGSM dropped -17.72% vs OASC's -27.00%.

Which ETF is better, FGSM or OASC?

On 1-year performance, OASC leads with 33.23% vs 30.24% for FGSM. On fees, OASC is cheaper at 0.69% per year. On volatility, FGSM has been the lower-risk option at 3.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FGSM or OASC?

Over the 1-year period, OASC has performed better with a 33.23% return vs 30.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FGSM or OASC?

OASC is cheaper with a 0.69% expense ratio, compared with 0.90% for FGSM.

Which ETF pays a higher dividend yield, FGSM or OASC?

FGSM has the higher dividend yield at 1.29%, compared with 0.46% for OASC.

What is the main difference between FGSM and OASC?

FGSM is categorized as Global Equities, while OASC is Small Cap Blend Equities. They also come from different issuers: Frontier and Oneascent. Their fees differ too: 0.90% for FGSM and 0.69% for OASC.

Which has better risk-adjusted returns?

FGSM currently has the higher Sharpe Ratio (1.94 vs 1.71), 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.