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 15.16%/yr vs 10.24%/yr for NBHC. At a 0.38 correlation, their price movements are largely independent.
Performance
FSBW vs. NBHC - Performance Comparison
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Returns By Period
In the year-to-date period, FSBW achieves a 6.21% return, which is significantly lower than NBHC's 18.45% return. Over the past 10 years, FSBW has outperformed NBHC with an annualized return of 15.16%, while NBHC has yielded a comparatively lower 10.24% annualized return.
FSBW
- 1D
- 0.98%
- 1M
- 1.08%
- 6M
- 5.22%
- YTD
- 6.21%
- 1Y
- 5.79%
- 3Y*
- 15.76%
- 5Y*
- 7.33%
- 10Y*
- 15.16%
NBHC
- 1D
- 0.70%
- 1M
- 3.33%
- 6M
- 12.36%
- YTD
- 18.45%
- 1Y
- 14.31%
- 3Y*
- 15.94%
- 5Y*
- 6.77%
- 10Y*
- 10.24%
FSBW vs. NBHC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSBW FS Bancorp, Inc. | 6.21% | 3.75% | 14.30% | 14.11% | 2.42% | 24.78% | -12.42% | 50.66% | -20.65% | 53.26% |
NBHC National Bank Holdings Corporation | 18.45% | -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 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
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:
$319.79M
NBHC:
$1.68B
FSBW:
$6.48
NBHC:
$4.17
FSBW:
6.66
NBHC:
10.63
FSBW:
13.70
NBHC:
2.43
FSBW:
1.02
NBHC:
1.88
FSBW:
$215.48M
NBHC:
$598.85M
FSBW:
$110.78M
NBHC:
$313.20M
FSBW:
$43.16M
NBHC:
$128.33M
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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 | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.12 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.27 | 0.97 | -0.69 |
| Martin ratioReturn relative to average drawdown | 0.63 | 2.18 | -1.55 |
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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 | -7.32% | -8.82% | +1.50% |
Average DrawdownAverage peak-to-trough decline | -10.52% | -13.46% | +2.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.53% | 6.37% | +0.16% |
Volatility
FSBW vs. NBHC - Volatility Comparison
FS Bancorp, Inc. (FSBW) and National Bank Holdings Corporation (NBHC) have volatilities of 7.01% and 6.91%, 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 | 7.01% | 6.91% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 19.40% | 17.18% | +2.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.69% | 25.75% | +1.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.40% | 30.53% | -1.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.75% | 31.37% | +2.38% |
Dividends
FSBW vs. NBHC - Dividend Comparison
FSBW's dividend yield for the trailing twelve months is around 3.15%, more than NBHC's 2.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSBW FS Bancorp, Inc. | 3.15% | 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 | 2.82% | 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 Jul 2026, FS Bancorp, Inc. reported a gross profit of 0.00 and revenue of 49.33M. Therefore, the gross margin over that period was 0.0%.
NBHC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, National Bank Holdings Corporation reported a gross profit of 0.00 and revenue of 159.15M. 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 Jul 2026, FS Bancorp, Inc. reported an operating income of 0.00 and revenue of 49.33M, resulting in an operating margin of 0.0%.
NBHC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, National Bank Holdings Corporation reported an operating income of 0.00 and revenue of 159.15M, 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 Jul 2026, FS Bancorp, Inc. reported a net income of 7.83M and revenue of 49.33M, resulting in a net margin of 15.9%.
NBHC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, National Bank Holdings Corporation reported a net income of 20.79M and revenue of 159.15M, resulting in a net margin of 13.1%.
Frequently Asked Questions
FSBW and NBHC have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSBW has higher volatility (7.01%) compared to NBHC (6.91%). In terms of maximum drawdown, FSBW dropped -53.96% vs NBHC's -48.43%.
NBHC currently has the higher Sharpe Ratio (0.54 vs 0.15), 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.
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