FTHSX vs. FTZIX

Last updated Jun 23, 2026

FTHSX (FullerThaler Behavioral Small-Cap Equity Fund Class I) and FTZIX (Fuller & Thaler Behavioral Unconstrained Equity Fund) are both mutual funds - FTHSX is a Small Cap Blend Equities fund actively 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, FTHSX returned 12.86%/yr vs 15.07%/yr for FTZIX. Their correlation of 0.87 suggests significant overlap in exposure. FTHSX charges 0.76%/yr vs 1.12%/yr for FTZIX.

Performance

FTHSX vs. FTZIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FullerThaler Behavioral Small-Cap Equity Fund Class I (FTHSX) 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, FTHSX achieves a 12.85% return, which is significantly lower than FTZIX's 21.01% return.

FTHSX

• 1D: 0.46%
• 1M: 3.25%
• YTD: 12.85%
• 6M: 10.78%
• 1Y: 30.81%
• 3Y*: 19.18%
• 5Y*: 12.86%
• 10Y*: 14.18%

FTZIX

• 1D: 1.20%
• 1M: 7.47%
• YTD: 21.01%
• 6M: 18.71%
• 1Y: 46.67%
• 3Y*: 27.37%
• 5Y*: 15.07%
• 10Y*: —

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

FTHSX vs. FTZIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FTHSX FullerThaler Behavioral Small-Cap Equity Fund Class I	12.85%	12.02%	16.17%	22.55%	-7.49%	30.83%	10.38%	28.06%	1.04%
FTZIX Fuller & Thaler Behavioral Unconstrained Equity Fund	21.01%	22.63%	25.31%	27.18%	-21.31%	25.25%	19.60%	33.70%	0.00%

Correlation

The correlation between FTHSX 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	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Dec 31, 2018	0.87

The correlation between FTHSX and FTZIX has been stable across timeframes, ranging from 0.86 to 0.87 - a consistent structural relationship.

Return for Risk

FTHSX vs. FTZIX — Risk / Return Rank

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

FTHSX

FTHSX Risk / Return Rank: 60
FTHSX Sharpe Ratio Rank: 54
FTHSX Sortino Ratio Rank: 58
FTHSX Omega Ratio Rank: 47
FTHSX Calmar Ratio Rank: 76
FTHSX Martin Ratio Rank: 63

FTZIX

FTZIX Risk / Return Rank: 89
FTZIX Sharpe Ratio Rank: 91
FTZIX Sortino Ratio Rank: 87
FTZIX Omega Ratio Rank: 78
FTZIX Calmar Ratio Rank: 94
FTZIX Martin Ratio Rank: 95

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.

FTHSX vs. FTZIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FullerThaler Behavioral Small-Cap Equity Fund Class I (FTHSX) 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.

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.

	FTHSX	FTZIX	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.79	-0.79
Sortino ratio: Return per unit of downside risk	2.93	3.90	-0.97
Omega ratio: Gain probability vs. loss probability	1.34	1.46	-0.12
Calmar ratio: Return relative to maximum drawdown	3.26	5.16	-1.90
Martin ratio: Return relative to average drawdown	11.63	19.94	-8.31

FTHSX vs. FTZIX - Sharpe Ratio Comparison

The current FTHSX Sharpe Ratio is 2.00, which is comparable to the FTZIX Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of FTHSX 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.

Drawdowns

FTHSX vs. FTZIX - Drawdown Comparison

The maximum FTHSX drawdown since its inception was -37.74%, roughly equal to the maximum FTZIX drawdown of -37.22%. Use the drawdown chart below to compare losses from any high point for FTHSX and FTZIX.

Drawdown Indicators

	FTHSX	FTZIX	Difference
Max Drawdown Largest peak-to-trough decline	-37.74%	-37.22%	-0.52%
Max Drawdown (1Y) Largest decline over 1 year	-9.42%	-9.03%	-0.39%
Max Drawdown (3Y) Largest decline over 3 years	-24.58%	-18.65%	-5.93%
Max Drawdown (5Y) Largest decline over 5 years	-24.58%	-29.53%	+4.95%
Max Drawdown (10Y) Largest decline over 10 years	-37.74%	—	—
Current Drawdown Current decline from peak	-0.74%	-0.50%	-0.24%
Average Drawdown Average peak-to-trough decline	-5.62%	-6.47%	+0.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	2.33%	+0.30%

Volatility

FTHSX vs. FTZIX - Volatility Comparison

The current volatility for FullerThaler Behavioral Small-Cap Equity Fund Class I (FTHSX) is 4.04%, while Fuller & Thaler Behavioral Unconstrained Equity Fund (FTZIX) has a volatility of 5.25%. This indicates that FTHSX 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

	FTHSX	FTZIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	5.25%	-1.21%
Volatility (6M) Calculated over the trailing 6-month period	10.97%	13.36%	-2.39%
Volatility (1Y) Calculated over the trailing 1-year period	15.36%	16.72%	-1.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.91%	19.52%	-0.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.13%	22.33%	-2.20%

FTHSX vs. FTZIX - Expense Ratio Comparison

FTHSX has a 0.76% expense ratio, which is lower than FTZIX's 1.12% expense ratio.

Dividends

FTHSX vs. FTZIX - Dividend Comparison

FTHSX's dividend yield for the trailing twelve months is around 0.48%, more than FTZIX's 0.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTHSX FullerThaler Behavioral Small-Cap Equity Fund Class I	0.48%	0.54%	8.05%	1.81%	1.23%	3.77%	0.35%	0.39%	0.55%	0.26%	0.00%	15.40%
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 FTHSX and FTZIX in my portfolio?

FTHSX 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, FTHSX or FTZIX?

FTZIX has higher volatility (5.25%) compared to FTHSX (4.04%). In terms of maximum drawdown, FTHSX dropped -37.74% vs FTZIX's -37.22%.

Which has better risk-adjusted returns?

FTZIX currently has the higher Sharpe Ratio (2.79 vs 2.00), 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.