HCMAX vs. SHXPX

Last updated Jun 4, 2026

HCMAX (Hillman Value Fund) and SHXPX (American Beacon Shapiro Equity Opportunities Fund) are both Large Cap Value Equities funds. A 0.50 correlation means they provide meaningful diversification when combined. HCMAX charges 0.95%/yr vs 1.21%/yr for SHXPX.

Performance

HCMAX vs. SHXPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hillman Value Fund (HCMAX) and American Beacon Shapiro Equity Opportunities Fund (SHXPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HCMAX

• 1D: -0.96%
• 1M: 4.89%
• YTD: 5.13%
• 6M: 6.08%
• 1Y: 15.82%
• 3Y*: 12.88%
• 5Y*: —
• 10Y*: —

SHXPX

• 1D: 0.06%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HCMAX vs. SHXPX - Yearly Performance Comparison

	2026 (YTD)
HCMAX Hillman Value Fund	-0.07%
SHXPX American Beacon Shapiro Equity Opportunities Fund	0.45%

Correlation

The correlation between HCMAX and SHXPX is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	0.50

Return for Risk

HCMAX vs. SHXPX — Risk / Return Rank

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

HCMAX

HCMAX Risk / Return Rank: 18
HCMAX Sharpe Ratio Rank: 19
HCMAX Sortino Ratio Rank: 19
HCMAX Omega Ratio Rank: 17
HCMAX Calmar Ratio Rank: 20
HCMAX Martin Ratio Rank: 17

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.

HCMAX vs. SHXPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hillman Value Fund (HCMAX) and American Beacon Shapiro Equity Opportunities Fund (SHXPX). 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.

	HCMAX	SHXPX	Difference
Sharpe ratio: Return per unit of total volatility	1.25	—	—
Sortino ratio: Return per unit of downside risk	1.85	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	1.63	—	—
Martin ratio: Return relative to average drawdown	4.61	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HCMAX	SHXPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	23.86	-23.29

Drawdowns

HCMAX vs. SHXPX - Drawdown Comparison

The maximum HCMAX drawdown since its inception was -23.03%, which is greater than SHXPX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for HCMAX and SHXPX.

Drawdown Indicators

	HCMAX	SHXPX	Difference
Max Drawdown Largest peak-to-trough decline	-23.03%	0.00%	-23.03%
Max Drawdown (1Y) Largest decline over 1 year	-10.34%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-16.14%	—	—
Current Drawdown Current decline from peak	-2.35%	0.00%	-2.35%
Average Drawdown Average peak-to-trough decline	-5.33%	0.00%	-5.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	—	—

Volatility

Volatility by Period

	HCMAX	SHXPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.93%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.50%	2.38%	+11.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.06%	2.38%	+14.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.06%	2.38%	+14.68%

HCMAX vs. SHXPX - Expense Ratio Comparison

HCMAX has a 0.95% expense ratio, which is lower than SHXPX's 1.21% expense ratio.

Dividends

HCMAX vs. SHXPX - Dividend Comparison

HCMAX's dividend yield for the trailing twelve months is around 15.65%, while SHXPX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
HCMAX Hillman Value Fund	15.65%	16.45%	21.58%	3.09%	12.34%
SHXPX American Beacon Shapiro Equity Opportunities Fund	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HCMAX and SHXPX in my portfolio?

HCMAX and SHXPX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.