FOCIX vs. FQTIX

Last updated Apr 1, 2026

Compare and contrast key facts about Fairholme Focused Income Fund (FOCIX) and Franklin Templeton SMACS: Series I (FQTIX).

FOCIX is managed by Fairholme. It was launched on Dec 31, 2009. FQTIX is managed by Franklin Templeton. It was launched on Jun 3, 2019.

Performance

FOCIX vs. FQTIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fairholme Focused Income Fund (FOCIX) and Franklin Templeton SMACS: Series I (FQTIX). The values are adjusted to include any dividend payments, if applicable.

FOCIX vs. FQTIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FOCIX Fairholme Focused Income Fund	6.93%	6.17%	14.67%	12.58%	6.00%	6.73%	0.99%	-1.12%
FQTIX Franklin Templeton SMACS: Series I	0.52%	7.51%	8.03%	13.44%	-14.39%	8.51%	3.68%	4.11%

Returns By Period

In the year-to-date period, FOCIX achieves a 6.93% return, which is significantly higher than FQTIX's 0.52% return.

FOCIX

• 1D: 0.19%
• 1M: 1.18%
• YTD: 6.93%
• 6M: 6.35%
• 1Y: 9.02%
• 3Y*: 11.77%
• 5Y*: 10.04%
• 10Y*: 8.24%

FQTIX

• 1D: 0.25%
• 1M: -1.83%
• YTD: 0.52%
• 6M: 2.66%
• 1Y: 9.72%
• 3Y*: 7.86%
• 5Y*: 3.61%
• 10Y*: —

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

FOCIX vs. FQTIX - Expense Ratio Comparison

FOCIX has a 1.00% expense ratio, which is higher than FQTIX's 0.00% expense ratio.

FOCIX

Fairholme Focused Income Fund

FQTIX

Franklin Templeton SMACS: Series I

Return for Risk

FOCIX vs. FQTIX — Risk / Return Rank

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

FOCIX

FOCIX Risk / Return Rank: 49
FOCIX Sharpe Ratio Rank: 52
FOCIX Sortino Ratio Rank: 49
FOCIX Omega Ratio Rank: 46
FOCIX Calmar Ratio Rank: 48
FOCIX Martin Ratio Rank: 49

FQTIX

FQTIX Risk / Return Rank: 97
FQTIX Sharpe Ratio Rank: 97
FQTIX Sortino Ratio Rank: 96
FQTIX Omega Ratio Rank: 97
FQTIX Calmar Ratio Rank: 97
FQTIX Martin Ratio Rank: 97

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.

FOCIX vs. FQTIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fairholme Focused Income Fund (FOCIX) and Franklin Templeton SMACS: Series I (FQTIX). 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.

	FOCIX	FQTIX	Difference
Sharpe ratio Return per unit of total volatility	0.98	2.55	-1.57
Sortino ratio Return per unit of downside risk	1.38	3.46	-2.08
Omega ratio Gain probability vs. loss probability	1.19	1.61	-0.42
Calmar ratio Return relative to maximum drawdown	1.18	3.85	-2.67
Martin ratio Return relative to average drawdown	4.79	17.15	-12.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FOCIX vs. FQTIX - Sharpe Ratio Comparison

The current FOCIX Sharpe Ratio is 0.98, which is lower than the FQTIX Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of FOCIX and FQTIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FOCIX	FQTIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.98	2.55	-1.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.04	0.61	+0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.55	+0.25

Correlation

The correlation between FOCIX and FQTIX is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FOCIX vs. FQTIX - Dividend Comparison

FOCIX's dividend yield for the trailing twelve months is around 1.23%, less than FQTIX's 7.03% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOCIX Fairholme Focused Income Fund	1.23%	1.31%	2.46%	2.82%	2.24%	1.12%	0.65%	2.75%	4.57%	9.83%	5.16%	5.51%
FQTIX Franklin Templeton SMACS: Series I	7.03%	5.70%	7.86%	7.64%	8.10%	7.15%	6.89%	5.63%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FOCIX vs. FQTIX - Drawdown Comparison

The maximum FOCIX drawdown since its inception was -18.78%, smaller than the maximum FQTIX drawdown of -24.62%. Use the drawdown chart below to compare losses from any high point for FOCIX and FQTIX.

Drawdown Indicators

	FOCIX	FQTIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.78%	-24.62%	+5.84%
Max Drawdown (1Y) Largest decline over 1 year	-7.45%	-2.41%	-5.04%
Max Drawdown (5Y) Largest decline over 5 years	-12.36%	-18.81%	+6.45%
Max Drawdown (10Y) Largest decline over 10 years	-18.61%	—	—
Current Drawdown Current decline from peak	-0.58%	-1.95%	+1.37%
Average Drawdown Average peak-to-trough decline	-4.81%	-4.42%	-0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	0.54%	+1.30%

Volatility

FOCIX vs. FQTIX - Volatility Comparison

Fairholme Focused Income Fund (FOCIX) has a higher volatility of 2.49% compared to Franklin Templeton SMACS: Series I (FQTIX) at 1.57%. This indicates that FOCIX's price experiences larger fluctuations and is considered to be riskier than FQTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FOCIX	FQTIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.49%	1.57%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	5.63%	2.38%	+3.25%
Volatility (1Y) Calculated over the trailing 1-year period	9.26%	3.85%	+5.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.73%	5.92%	+3.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.18%	7.80%	+1.38%