FSBW vs. NBHC
FSBW (FS Bancorp, Inc.) and NBHC (National Bank Holdings Corporation) are both stocks. Both operate in the Banks - Regional industry within the Financial Services sector. Over the past 10 years, FSBW returned 14.59%/yr vs 10.52%/yr for NBHC. Their 0.38 correlation means their historical movements had little consistent relationship.
Performance
FSBW vs. NBHC - Performance Comparison
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Returns By Period
In the year-to-date period, FSBW achieves a 5.67% return, which is significantly lower than NBHC's 15.40% return. Over the past 10 years, FSBW has outperformed NBHC with an annualized return of 14.59%, while NBHC has yielded a comparatively lower 10.52% annualized return.
FSBW
- 1D
- 0.14%
- 1M
- -2.30%
- 6M
- 3.63%
- YTD
- 5.67%
- 1Y
- 17.32%
- 3Y*
- 15.35%
- 5Y*
- 7.30%
- 10Y*
- 14.59%
- ALL TIME*
- 18.44%
NBHC
- 1D
- 1.43%
- 1M
- -2.97%
- 6M
- 9.17%
- YTD
- 15.40%
- 1Y
- 23.60%
- 3Y*
- 11.41%
- 5Y*
- 6.94%
- 10Y*
- 10.52%
- ALL TIME*
- 7.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
FSBW FS Bancorp, Inc. | $984.16K | $850.61K | $733.86K |
| $24.41M | $18.73M | $17.13M |
FSBW vs. NBHC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSBW FS Bancorp, Inc. | 5.67% | 3.75% | 14.30% | 14.11% | 2.42% | 24.78% | -12.42% | 50.66% | -20.65% | 53.26% |
NBHC National Bank Holdings Corporation | 15.40% | -8.94% | 19.11% | -8.81% | -2.16% | 37.06% | -4.50% | 16.56% | -3.44% | 2.77% |
Correlation
The correlation between FSBW and NBHC is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.51 |
Correlation (3Y) Balances recent behavior with more history. | 0.56 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.53 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.46 |
Correlation (All Time) Calculated using the full available price history since Sep 20, 2012 | 0.38 |
The correlation between FSBW and NBHC shifts across timeframes, from 0.38 (all time) to 0.56 (3 years), reflecting how their relationship changes across market environments.
Fundamentals
FSBW:
$318.16M
NBHC:
$1.93B
FSBW:
$5.80
NBHC:
$3.44
FSBW:
7.40
NBHC:
12.54
FSBW:
15.23
NBHC:
2.86
FSBW:
1.16
NBHC:
1.96
FSBW:
$211.99M
NBHC:
$631.82M
FSBW:
$76.24M
NBHC:
$332.78M
FSBW:
$66.44M
NBHC:
$115.77M
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Return for Risk
FSBW vs. NBHC — Risk / Return Rank
FSBW
NBHC
FSBW vs. NBHC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FS Bancorp, Inc. (FSBW) and National Bank Holdings Corporation (NBHC). 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.
| FSBW | NBHC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.16 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.91 | 1.41 | -0.51 |
| Martin ratioReturn relative to average drawdown | 2.17 | 3.33 | -1.16 |
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Drawdowns
FSBW vs. NBHC - Drawdown Comparison
The maximum FSBW drawdown since its inception was -53.96%, which is greater than NBHC's maximum drawdown of -48.43%. Use the drawdown chart below to compare losses from any high point for FSBW and NBHC.
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Drawdown Indicators
| FSBW | NBHC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.96% | -48.43% | -5.53% |
Max Drawdown (1Y)Largest decline over 1 year | -15.02% | -14.41% | -0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -26.09% | -32.94% | +6.85% |
Max Drawdown (5Y)Largest decline over 5 years | -28.66% | -43.64% | +14.98% |
Max Drawdown (10Y)Largest decline over 10 years | -53.96% | -48.43% | -5.53% |
Current DrawdownCurrent decline from peak | -7.79% | -11.16% | +3.37% |
Average DrawdownAverage peak-to-trough decline | -10.50% | -13.45% | +2.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.26% | 6.11% | +0.15% |
Volatility
FSBW vs. NBHC - Volatility Comparison
FS Bancorp, Inc. (FSBW) and National Bank Holdings Corporation (NBHC) have volatilities of 7.94% and 7.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSBW | NBHC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.94% | 7.70% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 18.51% | 16.39% | +2.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.86% | 25.73% | +2.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.35% | 30.52% | -1.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.78% | 31.43% | +2.35% |
Dividends
FSBW vs. NBHC - Dividend Comparison
FSBW's dividend yield for the trailing twelve months is around 3.17%, more than NBHC's 2.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSBW FS Bancorp, Inc. | 3.17% | 3.25% | 2.58% | 2.71% | 2.69% | 1.65% | 1.53% | 1.02% | 1.24% | 0.79% | 1.03% | 1.04% |
NBHC National Bank Holdings Corporation | 2.89% | 3.16% | 2.60% | 2.80% | 2.23% | 1.98% | 2.44% | 2.13% | 1.75% | 1.05% | 0.69% | 0.94% |
Financials
FSBW vs. NBHC - Financials Comparison
This section allows you to compare key financial metrics between FS Bancorp, Inc. and National Bank Holdings Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
FSBW vs. NBHC - Profitability Comparison
FSBW - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, FS Bancorp, Inc. reported a gross profit of -35.47M and revenue of 44.21M. Therefore, the gross margin over that period was -80.2%.
NBHC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, National Bank Holdings Corporation reported a gross profit of 0.00 and revenue of 162.00M. Therefore, the gross margin over that period was 0.0%.
FSBW - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, FS Bancorp, Inc. reported an operating income of -9.90M and revenue of 44.21M, resulting in an operating margin of -22.4%.
NBHC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, National Bank Holdings Corporation reported an operating income of 0.00 and revenue of 162.00M, resulting in an operating margin of 0.0%.
FSBW - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, FS Bancorp, Inc. reported a net income of 7.94M and revenue of 44.21M, resulting in a net margin of 18.0%.
NBHC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, National Bank Holdings Corporation reported a net income of 26.49M and revenue of 162.00M, resulting in a net margin of 16.4%.
Frequently Asked Questions
FSBW and NBHC have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSBW has higher volatility (7.94%) compared to NBHC (7.70%). In terms of maximum drawdown, FSBW dropped -53.96% vs NBHC's -48.43%.
NBHC currently has the higher Sharpe Ratio (0.79 vs 0.49), 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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