FMFIX vs. FMUEX
FMFIX (RBB Free Market Fixed Income Fund) and FMUEX (RBB Free Market U.S. Equity Fund) are both mutual funds - FMFIX is a Short-Term Bond fund managed by RBB Funds, while FMUEX is a Mid Cap Value Equities fund managed by RBB Funds. Over the past 10 years, FMFIX returned 1.27%/yr vs 11.66%/yr for FMUEX. At a correlation of -0.12, they often move in opposite directions. FMFIX charges 0.68%/yr vs 0.78%/yr for FMUEX.
Performance
FMFIX vs. FMUEX - Performance Comparison
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Returns By Period
In the year-to-date period, FMFIX achieves a 1.10% return, which is significantly lower than FMUEX's 17.89% return. Over the past 10 years, FMFIX has underperformed FMUEX with an annualized return of 1.27%, while FMUEX has yielded a comparatively higher 11.66% annualized return.
FMFIX
- 1D
- 0.20%
- 1M
- 0.50%
- YTD
- 1.10%
- 6M
- 1.15%
- 1Y
- 3.49%
- 3Y*
- 3.39%
- 5Y*
- 0.95%
- 10Y*
- 1.27%
FMUEX
- 1D
- 1.00%
- 1M
- 2.76%
- YTD
- 17.89%
- 6M
- 16.17%
- 1Y
- 35.75%
- 3Y*
- 16.79%
- 5Y*
- 10.63%
- 10Y*
- 11.66%
FMFIX vs. FMUEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMFIX RBB Free Market Fixed Income Fund | 1.10% | 4.88% | 0.71% | 5.43% | -6.52% | -1.06% | 3.28% | 4.78% | 0.65% | 1.05% |
FMUEX RBB Free Market U.S. Equity Fund | 17.89% | 12.79% | 8.09% | 17.10% | -10.47% | 31.75% | 5.65% | 22.44% | -11.62% | 13.44% |
Correlation
The correlation between FMFIX and FMUEX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008 | -0.12 |
The correlation between FMFIX and FMUEX shifts across timeframes, from -0.12 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FMFIX vs. FMUEX — Risk / Return Rank
FMFIX
FMUEX
FMFIX vs. FMUEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RBB Free Market Fixed Income Fund (FMFIX) and RBB Free Market U.S. Equity Fund (FMUEX). 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.
| FMFIX | FMUEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.44 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.22 | 4.73 | -1.51 |
| Martin ratioReturn relative to average drawdown | 11.82 | 17.06 | -5.25 |
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Drawdowns
FMFIX vs. FMUEX - Drawdown Comparison
The maximum FMFIX drawdown since its inception was -9.35%, smaller than the maximum FMUEX drawdown of -58.03%. Use the drawdown chart below to compare losses from any high point for FMFIX and FMUEX.
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Drawdown Indicators
| FMFIX | FMUEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.35% | -58.03% | +48.68% |
Max Drawdown (1Y)Largest decline over 1 year | -1.09% | -7.61% | +6.52% |
Max Drawdown (3Y)Largest decline over 3 years | -3.72% | -25.49% | +21.77% |
Max Drawdown (5Y)Largest decline over 5 years | -9.26% | -25.49% | +16.23% |
Max Drawdown (10Y)Largest decline over 10 years | -9.35% | -42.31% | +32.96% |
Current DrawdownCurrent decline from peak | -0.00% | -0.76% | +0.76% |
Average DrawdownAverage peak-to-trough decline | -1.22% | -8.05% | +6.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | 2.10% | -1.80% |
Volatility
FMFIX vs. FMUEX - Volatility Comparison
The current volatility for RBB Free Market Fixed Income Fund (FMFIX) is 0.57%, while RBB Free Market U.S. Equity Fund (FMUEX) has a volatility of 4.44%. This indicates that FMFIX experiences smaller price fluctuations and is considered to be less risky than FMUEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMFIX | FMUEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | 4.44% | -3.87% |
Volatility (6M)Calculated over the trailing 6-month period | 1.29% | 10.24% | -8.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.61% | 14.46% | -12.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.88% | 18.41% | -15.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.43% | 19.76% | -17.33% |
FMFIX vs. FMUEX - Expense Ratio Comparison
FMFIX has a 0.68% expense ratio, which is lower than FMUEX's 0.78% expense ratio.
Dividends
FMFIX vs. FMUEX - Dividend Comparison
FMFIX's dividend yield for the trailing twelve months is around 3.64%, more than FMUEX's 1.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMFIX RBB Free Market Fixed Income Fund | 3.64% | 3.49% | 0.71% | 2.75% | 1.35% | 0.37% | 1.22% | 1.44% | 2.45% | 1.25% | 0.58% | 0.39% |
FMUEX RBB Free Market U.S. Equity Fund | 1.59% | 1.87% | 0.00% | 4.12% | 8.26% | 4.38% | 1.61% | 5.57% | 5.88% | 3.80% | 4.80% | 8.51% |
Frequently Asked Questions
FMFIX and FMUEX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMUEX has higher volatility (4.44%) compared to FMFIX (0.57%). In terms of maximum drawdown, FMFIX dropped -9.35% vs FMUEX's -58.03%.
FMUEX currently has the higher Sharpe Ratio (2.49 vs 2.18), 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.
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