FMNEX vs. FMFIX
FMNEX (RBB Free Market International Equity Fund) and FMFIX (RBB Free Market Fixed Income Fund) are both mutual funds - FMNEX is a Foreign Small & Mid Cap Equities fund managed by RBB Fund, while FMFIX is a Short-Term Bond fund managed by RBB Fund. Over the past 10 years, FMNEX returned 9.84%/yr vs 1.22%/yr for FMFIX. Their -0.04 correlation means they have often moved in opposite directions in the past. FMNEX charges 0.56%/yr vs 0.68%/yr for FMFIX.
Performance
FMNEX vs. FMFIX - Performance Comparison
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Returns By Period
In the year-to-date period, FMNEX achieves a 12.93% return, which is significantly higher than FMFIX's 1.05% return. Over the past 10 years, FMNEX has outperformed FMFIX with an annualized return of 9.84%, while FMFIX has yielded a comparatively lower 1.22% annualized return.
FMNEX
- 1D
- 2.63%
- 1M
- 2.33%
- 6M
- 6.11%
- YTD
- 12.93%
- 1Y
- 30.75%
- 3Y*
- 18.97%
- 5Y*
- 11.56%
- 10Y*
- 9.84%
- ALL TIME*
- 5.78%
FMFIX
- 1D
- 0.10%
- 1M
- -0.20%
- 6M
- 0.65%
- YTD
- 1.05%
- 1Y
- 2.60%
- 3Y*
- 3.23%
- 5Y*
- 0.82%
- 10Y*
- 1.22%
- ALL TIME*
- 1.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FMNEX vs. FMFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMNEX RBB Free Market International Equity Fund | 12.93% | 42.81% | 2.15% | 16.13% | -10.54% | 14.50% | 2.74% | 17.72% | -19.58% | 27.74% |
FMFIX RBB Free Market Fixed Income Fund | 1.05% | 4.88% | 0.71% | 5.43% | -6.52% | -1.06% | 3.28% | 4.78% | 0.65% | 1.05% |
Correlation
The correlation between FMNEX and FMFIX is 0.43, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.43 |
Correlation (3Y) Balances recent behavior with more history. | 0.33 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.27 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008 | -0.04 |
The correlation between FMNEX and FMFIX shifts across timeframes, from -0.04 (all time) to 0.43 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FMNEX vs. FMFIX — Risk / Return Rank
FMNEX
FMFIX
FMNEX vs. FMFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RBB Free Market International Equity Fund (FMNEX) and RBB Free Market Fixed Income Fund (FMFIX). 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.
| FMNEX | FMFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.36 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 2.68 | -0.04 |
| Martin ratioReturn relative to average drawdown | 9.81 | 9.36 | +0.46 |
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Drawdowns
FMNEX vs. FMFIX - Drawdown Comparison
The maximum FMNEX drawdown since its inception was -59.76%, which is greater than FMFIX's maximum drawdown of -9.35%. Use the drawdown chart below to compare losses from any high point for FMNEX and FMFIX.
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Drawdown Indicators
| FMNEX | FMFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.76% | -9.35% | -50.41% |
Max Drawdown (1Y)Largest decline over 1 year | -11.38% | -1.09% | -10.29% |
Max Drawdown (3Y)Largest decline over 3 years | -13.46% | -3.72% | -9.74% |
Max Drawdown (5Y)Largest decline over 5 years | -26.61% | -9.26% | -17.35% |
Max Drawdown (10Y)Largest decline over 10 years | -47.35% | -9.35% | -38.00% |
Current DrawdownCurrent decline from peak | -0.11% | -0.30% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -12.11% | -1.21% | -10.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 0.31% | +2.76% |
Volatility
FMNEX vs. FMFIX - Volatility Comparison
RBB Free Market International Equity Fund (FMNEX) has a higher volatility of 4.68% compared to RBB Free Market Fixed Income Fund (FMFIX) at 0.54%. This indicates that FMNEX's price experiences larger fluctuations and is considered to be riskier than FMFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMNEX | FMFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.68% | 0.54% | +4.14% |
Volatility (6M)Calculated over the trailing 6-month period | 12.54% | 1.37% | +11.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.61% | 1.65% | +12.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.64% | 2.89% | +12.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.91% | 2.44% | +13.47% |
FMNEX vs. FMFIX - Expense Ratio Comparison
FMNEX has a 0.56% expense ratio, which is lower than FMFIX's 0.68% expense ratio.
Dividends
FMNEX vs. FMFIX - Dividend Comparison
FMNEX's dividend yield for the trailing twelve months is around 4.15%, more than FMFIX's 3.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMFIX RBB Free Market Fixed Income Fund | 3.79% | 3.49% | 0.71% | 2.75% | 1.35% | 0.37% | 1.22% | 1.44% | 2.45% | 1.25% | 0.58% | 0.39% |
FMNEX RBB Free Market International Equity Fund | 4.15% | 4.69% | 0.00% | 2.49% | 3.46% | 1.31% | 3.03% | 2.56% | 4.12% | 3.30% | 3.17% | 3.60% |
Frequently Asked Questions
FMNEX and FMFIX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMNEX has higher volatility (4.68%) compared to FMFIX (0.54%). In terms of maximum drawdown, FMNEX dropped -59.76% vs FMFIX's -9.35%.
FMNEX currently has the higher Sharpe Ratio (2.07 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.
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