FICEX vs. FIJEX

Last updated Jun 4, 2026

FICEX (Frost Growth Equity Fund) and FIJEX (Frost Total Return Bond Fund) are both mutual funds - FICEX is a Large Cap Growth Equities fund managed by Frost Funds, while FIJEX is a Short-Term Bond fund managed by Frost Funds. Over the past 10 years, FICEX returned 17.03%/yr vs 3.54%/yr for FIJEX. At a correlation of -0.09, they often move in opposite directions. FICEX charges 0.63%/yr vs 0.46%/yr for FIJEX.

Performance

FICEX vs. FIJEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Frost Growth Equity Fund (FICEX) and Frost Total Return Bond Fund (FIJEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FICEX achieves a 6.16% return, which is significantly higher than FIJEX's 1.17% return. Over the past 10 years, FICEX has outperformed FIJEX with an annualized return of 17.03%, while FIJEX has yielded a comparatively lower 3.54% annualized return.

FICEX

• 1D: -0.58%
• 1M: 6.31%
• YTD: 6.16%
• 6M: 5.20%
• 1Y: 20.07%
• 3Y*: 22.50%
• 5Y*: 13.35%
• 10Y*: 17.03%

FIJEX

• 1D: 0.10%
• 1M: 0.55%
• YTD: 1.17%
• 6M: 0.88%
• 1Y: 5.36%
• 3Y*: 6.07%
• 5Y*: 3.41%
• 10Y*: 3.54%

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

FICEX vs. FIJEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FICEX Frost Growth Equity Fund	6.16%	15.00%	30.28%	45.24%	-31.98%	25.23%	32.72%	33.54%	2.63%	31.00%
FIJEX Frost Total Return Bond Fund	1.17%	4.83%	6.44%	8.64%	-5.30%	3.45%	3.49%	5.38%	1.38%	4.43%

Correlation

The correlation between FICEX and FIJEX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Jan 4, 2001	-0.09

The correlation between FICEX and FIJEX shifts across timeframes, from -0.09 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FICEX vs. FIJEX — Risk / Return Rank

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

FICEX

FICEX Risk / Return Rank: 18
FICEX Sharpe Ratio Rank: 24
FICEX Sortino Ratio Rank: 22
FICEX Omega Ratio Rank: 23
FICEX Calmar Ratio Rank: 12
FICEX Martin Ratio Rank: 12

FIJEX

FIJEX Risk / Return Rank: 35
FIJEX Sharpe Ratio Rank: 35
FIJEX Sortino Ratio Rank: 36
FIJEX Omega Ratio Rank: 34
FIJEX Calmar Ratio Rank: 38
FIJEX Martin Ratio Rank: 31

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.

FICEX vs. FIJEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Frost Growth Equity Fund (FICEX) and Frost Total Return Bond Fund (FIJEX). 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.

	FICEX	FIJEX	Difference
Sharpe ratio: Return per unit of total volatility	1.39	1.70	-0.31
Sortino ratio: Return per unit of downside risk	1.95	2.51	-0.56
Omega ratio: Gain probability vs. loss probability	1.25	1.31	-0.06
Calmar ratio: Return relative to maximum drawdown	1.12	2.35	-1.22
Martin ratio: Return relative to average drawdown	3.50	7.21	-3.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FICEX vs. FIJEX - Sharpe Ratio Comparison

The current FICEX Sharpe Ratio is 1.39, which is comparable to the FIJEX Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of FICEX and FIJEX, 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

	FICEX	FIJEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	1.70	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.93	-0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	1.10	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.97	-0.54

Drawdowns

FICEX vs. FIJEX - Drawdown Comparison

The maximum FICEX drawdown since its inception was -50.03%, which is greater than FIJEX's maximum drawdown of -16.82%. Use the drawdown chart below to compare losses from any high point for FICEX and FIJEX.

Drawdown Indicators

	FICEX	FIJEX	Difference
Max Drawdown Largest peak-to-trough decline	-50.03%	-16.82%	-33.21%
Max Drawdown (1Y) Largest decline over 1 year	-18.43%	-2.25%	-16.18%
Max Drawdown (3Y) Largest decline over 3 years	-32.32%	-3.40%	-28.92%
Max Drawdown (5Y) Largest decline over 5 years	-35.13%	-7.52%	-27.61%
Max Drawdown (10Y) Largest decline over 10 years	-35.13%	-11.60%	-23.53%
Current Drawdown Current decline from peak	-0.58%	-0.72%	+0.14%
Average Drawdown Average peak-to-trough decline	-11.21%	-2.86%	-8.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.90%	0.73%	+5.17%

Volatility

FICEX vs. FIJEX - Volatility Comparison

Frost Growth Equity Fund (FICEX) has a higher volatility of 3.36% compared to Frost Total Return Bond Fund (FIJEX) at 1.19%. This indicates that FICEX's price experiences larger fluctuations and is considered to be riskier than FIJEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FICEX	FIJEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.36%	1.19%	+2.17%
Volatility (6M) Calculated over the trailing 6-month period	11.37%	2.22%	+9.15%
Volatility (1Y) Calculated over the trailing 1-year period	14.87%	3.11%	+11.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.30%	3.70%	+21.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.05%	3.22%	+19.83%

FICEX vs. FIJEX - Expense Ratio Comparison

FICEX has a 0.63% expense ratio, which is higher than FIJEX's 0.46% expense ratio.

Dividends

FICEX vs. FIJEX - Dividend Comparison

FICEX's dividend yield for the trailing twelve months is around 20.67%, more than FIJEX's 5.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FICEX Frost Growth Equity Fund	20.67%	21.94%	22.19%	16.16%	12.25%	12.50%	3.59%	10.57%	16.11%	28.09%	10.86%	12.51%
FIJEX Frost Total Return Bond Fund	5.72%	4.64%	5.23%	5.53%	4.69%	3.31%	3.82%	3.79%	3.63%	3.68%	4.03%	4.14%

Frequently Asked Questions

Can I hold both FICEX and FIJEX in my portfolio?

FICEX and FIJEX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FICEX or FIJEX?

FICEX has higher volatility (3.36%) compared to FIJEX (1.19%). In terms of maximum drawdown, FICEX dropped -50.03% vs FIJEX's -16.82%.

Which has better risk-adjusted returns?

FIJEX currently has the higher Sharpe Ratio (1.70 vs 1.39), 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.