FTHNX vs. FTZIX

Last updated Jun 5, 2026

FTHNX (Fuller & Thaler Behavioral Small-Cap Equity Fund) and FTZIX (Fuller & Thaler Behavioral Unconstrained Equity Fund) are both mutual funds - FTHNX is a Small Cap Blend Equities fund managed by Fuller & Thaler Asset Mgmt, while FTZIX is a Large Cap Blend Equities fund managed by Fuller & Thaler Asset Mgmt. Over the past 5 years, FTHNX returned 11.23%/yr vs 13.70%/yr for FTZIX. Their correlation of 0.87 suggests significant overlap in exposure. FTHNX charges 1.03%/yr vs 1.12%/yr for FTZIX.

Performance

FTHNX vs. FTZIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fuller & Thaler Behavioral Small-Cap Equity Fund (FTHNX) and Fuller & Thaler Behavioral Unconstrained Equity Fund (FTZIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTHNX achieves a 11.14% return, which is significantly lower than FTZIX's 15.48% return.

FTHNX

• 1D: 0.56%
• 1M: 0.05%
• YTD: 11.14%
• 6M: 11.21%
• 1Y: 28.01%
• 3Y*: 19.59%
• 5Y*: 11.23%
• 10Y*: 13.90%

FTZIX

• 1D: 0.99%
• 1M: 2.21%
• YTD: 15.48%
• 6M: 16.41%
• 1Y: 39.13%
• 3Y*: 26.71%
• 5Y*: 13.70%
• 10Y*: —

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

FTHNX vs. FTZIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FTHNX Fuller & Thaler Behavioral Small-Cap Equity Fund	11.14%	11.69%	15.81%	22.18%	-7.73%	30.44%	10.05%	27.74%
FTZIX Fuller & Thaler Behavioral Unconstrained Equity Fund	15.48%	22.63%	25.31%	27.18%	-21.31%	25.25%	19.60%	33.70%

Correlation

The correlation between FTHNX and FTZIX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jan 2, 2019	0.87

The correlation between FTHNX and FTZIX has been stable across timeframes, ranging from 0.85 to 0.87 - a consistent structural relationship.

Return for Risk

FTHNX vs. FTZIX — Risk / Return Rank

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

FTHNX

FTHNX Risk / Return Rank: 45
FTHNX Sharpe Ratio Rank: 39
FTHNX Sortino Ratio Rank: 41
FTHNX Omega Ratio Rank: 35
FTHNX Calmar Ratio Rank: 58
FTHNX Martin Ratio Rank: 51

FTZIX

FTZIX Risk / Return Rank: 72
FTZIX Sharpe Ratio Rank: 68
FTZIX Sortino Ratio Rank: 65
FTZIX Omega Ratio Rank: 53
FTZIX Calmar Ratio Rank: 88
FTZIX Martin Ratio Rank: 87

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.

FTHNX vs. FTZIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fuller & Thaler Behavioral Small-Cap Equity Fund (FTHNX) and Fuller & Thaler Behavioral Unconstrained Equity Fund (FTZIX). 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.

	FTHNX	FTZIX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	2.39	-0.58
Sortino ratio: Return per unit of downside risk	2.68	3.37	-0.69
Omega ratio: Gain probability vs. loss probability	1.31	1.40	-0.09
Calmar ratio: Return relative to maximum drawdown	2.91	4.34	-1.42
Martin ratio: Return relative to average drawdown	10.36	16.60	-6.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTHNX vs. FTZIX - Sharpe Ratio Comparison

The current FTHNX Sharpe Ratio is 1.81, which is comparable to the FTZIX Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of FTHNX and FTZIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FTHNX	FTZIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	2.39	-0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.71	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.84	-0.18

Drawdowns

FTHNX vs. FTZIX - Drawdown Comparison

The maximum FTHNX drawdown since its inception was -37.78%, roughly equal to the maximum FTZIX drawdown of -37.22%. Use the drawdown chart below to compare losses from any high point for FTHNX and FTZIX.

Drawdown Indicators

	FTHNX	FTZIX	Difference
Max Drawdown Largest peak-to-trough decline	-37.78%	-37.22%	-0.56%
Max Drawdown (1Y) Largest decline over 1 year	-9.44%	-9.03%	-0.41%
Max Drawdown (3Y) Largest decline over 3 years	-24.63%	-18.65%	-5.98%
Max Drawdown (5Y) Largest decline over 5 years	-24.63%	-29.53%	+4.90%
Max Drawdown (10Y) Largest decline over 10 years	-37.78%	—	—
Current Drawdown Current decline from peak	0.00%	-0.15%	+0.15%
Average Drawdown Average peak-to-trough decline	-5.70%	-6.50%	+0.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	2.35%	+0.30%

Volatility

FTHNX vs. FTZIX - Volatility Comparison

The current volatility for Fuller & Thaler Behavioral Small-Cap Equity Fund (FTHNX) is 4.19%, while Fuller & Thaler Behavioral Unconstrained Equity Fund (FTZIX) has a volatility of 5.58%. This indicates that FTHNX experiences smaller price fluctuations and is considered to be less risky than FTZIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTHNX	FTZIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	5.58%	-1.39%
Volatility (6M) Calculated over the trailing 6-month period	10.78%	12.81%	-2.03%
Volatility (1Y) Calculated over the trailing 1-year period	15.26%	16.44%	-1.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.91%	19.43%	-0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.12%	22.34%	-2.22%

FTHNX vs. FTZIX - Expense Ratio Comparison

FTHNX has a 1.03% expense ratio, which is lower than FTZIX's 1.12% expense ratio.

Dividends

FTHNX vs. FTZIX - Dividend Comparison

FTHNX's dividend yield for the trailing twelve months is around 0.25%, more than FTZIX's 0.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTHNX Fuller & Thaler Behavioral Small-Cap Equity Fund	0.25%	0.28%	7.84%	1.60%	0.95%	3.55%	0.11%	0.11%	0.21%	0.09%	0.00%	15.47%
FTZIX Fuller & Thaler Behavioral Unconstrained Equity Fund	0.04%	0.05%	0.11%	0.19%	0.00%	0.00%	0.26%	0.76%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTHNX and FTZIX in my portfolio?

FTHNX and FTZIX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTHNX or FTZIX?

FTZIX has higher volatility (5.58%) compared to FTHNX (4.19%). In terms of maximum drawdown, FTHNX dropped -37.78% vs FTZIX's -37.22%.

Which has better risk-adjusted returns?

FTZIX currently has the higher Sharpe Ratio (2.39 vs 1.81), 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.