FTMSX vs. FTXSX

Last updated Jun 24, 2026

FTMSX (Fuller & Thaler Behavioral Micro-Cap Equity Fund) and FTXSX (FullerThaler Behavioral Small-Cap Growth Fund) are both mutual funds - FTMSX is a Small Cap Blend Equities fund managed by Fuller & Thaler Asset Mgmt, while FTXSX is a Small Cap Growth Equities fund tracking the Russell 2000 Growth Index. Over the past 5 years, FTMSX returned -0.76%/yr vs 15.85%/yr for FTXSX. A 0.79 correlation means they provide meaningful diversification when combined. FTMSX charges 2.30%/yr vs 1.00%/yr for FTXSX.

Performance

FTMSX vs. FTXSX - Performance Comparison

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

Returns By Period

In the year-to-date period, FTMSX achieves a 24.50% return, which is significantly lower than FTXSX's 39.93% return.

FTMSX

• 1D: -0.53%
• 1M: 8.02%
• YTD: 24.50%
• 6M: 22.86%
• 1Y: 40.28%
• 3Y*: 12.22%
• 5Y*: -0.76%
• 10Y*: —

FTXSX

• 1D: 1.68%
• 1M: 7.19%
• YTD: 39.93%
• 6M: 36.92%
• 1Y: 72.37%
• 3Y*: 32.67%
• 5Y*: 15.85%
• 10Y*: —

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

FTMSX vs. FTXSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FTMSX Fuller & Thaler Behavioral Micro-Cap Equity Fund	24.50%	0.30%	3.88%	13.11%	-31.07%	37.45%	15.58%	17.82%
FTXSX FullerThaler Behavioral Small-Cap Growth Fund	39.93%	12.44%	28.86%	33.15%	-27.48%	25.50%	51.32%	19.13%

Correlation

The correlation between FTMSX and FTXSX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 3, 2019	0.79

The correlation between FTMSX and FTXSX has been stable across timeframes, ranging from 0.74 to 0.83 - a consistent structural relationship.

Return for Risk

FTMSX vs. FTXSX — Risk / Return Rank

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

FTMSX

FTMSX Risk / Return Rank: 35
FTMSX Sharpe Ratio Rank: 34
FTMSX Sortino Ratio Rank: 32
FTMSX Omega Ratio Rank: 29
FTMSX Calmar Ratio Rank: 40
FTMSX Martin Ratio Rank: 41

FTXSX

FTXSX Risk / Return Rank: 84
FTXSX Sharpe Ratio Rank: 88
FTXSX Sortino Ratio Rank: 71
FTXSX Omega Ratio Rank: 69
FTXSX Calmar Ratio Rank: 96
FTXSX Martin Ratio Rank: 97

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.

FTMSX vs. FTXSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fuller & Thaler Behavioral Micro-Cap Equity Fund (FTMSX) and FullerThaler Behavioral Small-Cap Growth Fund (FTXSX). 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.

	FTMSX	FTXSX	Difference
Sharpe ratio: Return per unit of total volatility	1.56	2.68	-1.12
Sortino ratio: Return per unit of downside risk	2.16	3.20	-1.04
Omega ratio: Gain probability vs. loss probability	1.26	1.42	-0.16
Calmar ratio: Return relative to maximum drawdown	2.28	5.92	-3.64
Martin ratio: Return relative to average drawdown	8.41	23.33	-14.92

FTMSX vs. FTXSX - Sharpe Ratio Comparison

The current FTMSX Sharpe Ratio is 1.56, which is lower than the FTXSX Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of FTMSX and FTXSX, 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

FTMSX vs. FTXSX - Drawdown Comparison

The maximum FTMSX drawdown since its inception was -53.12%, which is greater than FTXSX's maximum drawdown of -45.03%. Use the drawdown chart below to compare losses from any high point for FTMSX and FTXSX.

Drawdown Indicators

	FTMSX	FTXSX	Difference
Max Drawdown Largest peak-to-trough decline	-53.12%	-45.03%	-8.09%
Max Drawdown (1Y) Largest decline over 1 year	-17.52%	-12.37%	-5.15%
Max Drawdown (3Y) Largest decline over 3 years	-35.01%	-32.37%	-2.64%
Max Drawdown (5Y) Largest decline over 5 years	-48.67%	-39.58%	-9.09%
Current Drawdown Current decline from peak	-7.54%	0.00%	-7.54%
Average Drawdown Average peak-to-trough decline	-22.21%	-12.41%	-9.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.75%	3.13%	+1.62%

Volatility

FTMSX vs. FTXSX - Volatility Comparison

The current volatility for Fuller & Thaler Behavioral Micro-Cap Equity Fund (FTMSX) is 8.56%, while FullerThaler Behavioral Small-Cap Growth Fund (FTXSX) has a volatility of 9.73%. This indicates that FTMSX experiences smaller price fluctuations and is considered to be less risky than FTXSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTMSX	FTXSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.56%	9.73%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	17.29%	21.68%	-4.39%
Volatility (1Y) Calculated over the trailing 1-year period	25.74%	27.41%	-1.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.12%	26.98%	+1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.50%	27.75%	+2.75%

FTMSX vs. FTXSX - Expense Ratio Comparison

FTMSX has a 2.30% expense ratio, which is higher than FTXSX's 1.00% expense ratio.

Dividends

FTMSX vs. FTXSX - Dividend Comparison

Neither FTMSX nor FTXSX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FTMSX Fuller & Thaler Behavioral Micro-Cap Equity Fund	0.00%	0.00%	0.12%	0.00%	0.00%	8.27%	0.37%	4.90%
FTXSX FullerThaler Behavioral Small-Cap Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	17.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTMSX and FTXSX in my portfolio?

FTMSX and FTXSX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTMSX or FTXSX?

FTXSX has higher volatility (9.73%) compared to FTMSX (8.56%). In terms of maximum drawdown, FTMSX dropped -53.12% vs FTXSX's -45.03%.

Which has better risk-adjusted returns?

FTXSX currently has the higher Sharpe Ratio (2.68 vs 1.56), 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.