FOINX vs. FOBAX

Last updated Jun 23, 2026

FOINX (Tributary Income Fund) and FOBAX (Tributary Balanced Fund) are both mutual funds - FOINX is a Intermediate Core Bond fund managed by Tributary Funds, while FOBAX is a Diversified Portfolio fund managed by Tributary Funds. Over the past 10 years, FOINX returned 1.67%/yr vs 8.87%/yr for FOBAX. At a correlation of -0.06, they often move in opposite directions. FOINX charges 0.63%/yr vs 0.96%/yr for FOBAX.

Performance

FOINX vs. FOBAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tributary Income Fund (FOINX) and Tributary Balanced Fund (FOBAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FOINX achieves a 0.25% return, which is significantly lower than FOBAX's 2.52% return. Over the past 10 years, FOINX has underperformed FOBAX with an annualized return of 1.67%, while FOBAX has yielded a comparatively higher 8.87% annualized return.

FOINX

• 1D: 0.22%
• 1M: 0.82%
• YTD: 0.25%
• 6M: 0.41%
• 1Y: 4.48%
• 3Y*: 4.19%
• 5Y*: 0.06%
• 10Y*: 1.67%

FOBAX

• 1D: 0.58%
• 1M: -0.69%
• YTD: 2.52%
• 6M: 2.22%
• 1Y: 11.81%
• 3Y*: 10.85%
• 5Y*: 6.88%
• 10Y*: 8.87%

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

FOINX vs. FOBAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FOINX Tributary Income Fund	0.25%	7.37%	1.59%	5.98%	-13.33%	-1.51%	7.07%	8.42%	0.02%	4.09%
FOBAX Tributary Balanced Fund	2.52%	10.30%	14.28%	17.11%	-15.11%	16.27%	12.64%	21.41%	-2.11%	13.92%

Correlation

The correlation between FOINX and FOBAX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.09
Correlation (All Time) Calculated using the full available price history since Mar 9, 2001	-0.06

The correlation between FOINX and FOBAX shifts across timeframes, from -0.06 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FOINX vs. FOBAX — Risk / Return Rank

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

FOINX

FOINX Risk / Return Rank: 17
FOINX Sharpe Ratio Rank: 19
FOINX Sortino Ratio Rank: 19
FOINX Omega Ratio Rank: 17
FOINX Calmar Ratio Rank: 17
FOINX Martin Ratio Rank: 15

FOBAX

FOBAX Risk / Return Rank: 36
FOBAX Sharpe Ratio Rank: 35
FOBAX Sortino Ratio Rank: 34
FOBAX Omega Ratio Rank: 36
FOBAX Calmar Ratio Rank: 31
FOBAX Martin Ratio Rank: 43

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.

FOINX vs. FOBAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tributary Income Fund (FOINX) and Tributary Balanced Fund (FOBAX). 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.

	FOINX	FOBAX	Difference
Sharpe ratio: Return per unit of total volatility	1.15	1.60	-0.45
Sortino ratio: Return per unit of downside risk	1.69	2.27	-0.58
Omega ratio: Gain probability vs. loss probability	1.20	1.29	-0.09
Calmar ratio: Return relative to maximum drawdown	1.38	1.97	-0.59
Martin ratio: Return relative to average drawdown	3.96	8.55	-4.59

FOINX vs. FOBAX - Sharpe Ratio Comparison

The current FOINX Sharpe Ratio is 1.15, which is comparable to the FOBAX Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of FOINX and FOBAX, 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

FOINX vs. FOBAX - Drawdown Comparison

The maximum FOINX drawdown since its inception was -18.20%, smaller than the maximum FOBAX drawdown of -40.00%. Use the drawdown chart below to compare losses from any high point for FOINX and FOBAX.

Drawdown Indicators

	FOINX	FOBAX	Difference
Max Drawdown Largest peak-to-trough decline	-18.20%	-40.00%	+21.80%
Max Drawdown (1Y) Largest decline over 1 year	-3.25%	-5.97%	+2.72%
Max Drawdown (3Y) Largest decline over 3 years	-6.02%	-11.97%	+5.95%
Max Drawdown (5Y) Largest decline over 5 years	-17.84%	-19.88%	+2.04%
Max Drawdown (10Y) Largest decline over 10 years	-18.20%	-22.37%	+4.17%
Current Drawdown Current decline from peak	-1.71%	-1.07%	-0.64%
Average Drawdown Average peak-to-trough decline	-2.47%	-3.81%	+1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.13%	1.37%	-0.24%

Volatility

FOINX vs. FOBAX - Volatility Comparison

The current volatility for Tributary Income Fund (FOINX) is 1.22%, while Tributary Balanced Fund (FOBAX) has a volatility of 2.29%. This indicates that FOINX experiences smaller price fluctuations and is considered to be less risky than FOBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FOINX	FOBAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	2.29%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	2.94%	5.79%	-2.85%
Volatility (1Y) Calculated over the trailing 1-year period	3.92%	7.34%	-3.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.86%	10.45%	-4.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.85%	10.97%	-6.12%

FOINX vs. FOBAX - Expense Ratio Comparison

FOINX has a 0.63% expense ratio, which is lower than FOBAX's 0.96% expense ratio.

Dividends

FOINX vs. FOBAX - Dividend Comparison

FOINX's dividend yield for the trailing twelve months is around 3.32%, less than FOBAX's 9.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOBAX Tributary Balanced Fund	9.63%	9.82%	5.32%	5.36%	5.59%	8.10%	5.80%	4.43%	7.55%	8.29%	6.73%	0.22%
FOINX Tributary Income Fund	3.32%	3.49%	2.91%	2.98%	2.69%	2.30%	2.43%	2.98%	2.98%	3.03%	2.77%	2.36%

Frequently Asked Questions

Can I hold both FOINX and FOBAX in my portfolio?

FOINX and FOBAX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FOINX or FOBAX?

FOBAX has higher volatility (2.29%) compared to FOINX (1.22%). In terms of maximum drawdown, FOINX dropped -18.20% vs FOBAX's -40.00%.

Which has better risk-adjusted returns?

FOBAX currently has the higher Sharpe Ratio (1.60 vs 1.15), 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.