HDPBX vs. HDPSX

Last updated Jun 3, 2026

HDPBX (Hodges Blue Chip Equity Income Fund) and HDPSX (Hodges Small Cap Fund) are both mutual funds - HDPBX is a Large Cap Blend Equities fund managed by Hodges, while HDPSX is a Small Cap Blend Equities fund managed by Hodges. Over the past 10 years, HDPBX returned 17.19%/yr vs 15.61%/yr for HDPSX. A 0.79 correlation means they provide meaningful diversification when combined. HDPBX charges 1.30%/yr vs 1.36%/yr for HDPSX.

Performance

HDPBX vs. HDPSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hodges Blue Chip Equity Income Fund (HDPBX) and Hodges Small Cap Fund (HDPSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HDPBX achieves a 7.92% return, which is significantly lower than HDPSX's 29.53% return. Over the past 10 years, HDPBX has outperformed HDPSX with an annualized return of 17.19%, while HDPSX has yielded a comparatively lower 15.61% annualized return.

HDPBX

• 1D: 0.37%
• 1M: 4.60%
• YTD: 7.92%
• 6M: 8.55%
• 1Y: 29.11%
• 3Y*: 31.08%
• 5Y*: 19.28%
• 10Y*: 17.19%

HDPSX

• 1D: 0.42%
• 1M: 5.80%
• YTD: 29.53%
• 6M: 28.59%
• 1Y: 51.98%
• 3Y*: 33.72%
• 5Y*: 16.34%
• 10Y*: 15.61%

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

HDPBX vs. HDPSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HDPBX Hodges Blue Chip Equity Income Fund	7.92%	23.40%	52.30%	21.54%	-11.52%	23.61%	15.88%	30.72%	-9.38%	24.73%
HDPSX Hodges Small Cap Fund	29.53%	3.07%	62.98%	14.88%	-12.78%	35.60%	16.98%	16.85%	-16.35%	9.34%

Correlation

The correlation between HDPBX and HDPSX is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Sep 11, 2009	0.79

The correlation between HDPBX and HDPSX shifts across timeframes, from 0.68 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HDPBX vs. HDPSX — Risk / Return Rank

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

HDPBX

HDPBX Risk / Return Rank: 51
HDPBX Sharpe Ratio Rank: 58
HDPBX Sortino Ratio Rank: 56
HDPBX Omega Ratio Rank: 53
HDPBX Calmar Ratio Rank: 40
HDPBX Martin Ratio Rank: 47

HDPSX

HDPSX Risk / Return Rank: 74
HDPSX Sharpe Ratio Rank: 76
HDPSX Sortino Ratio Rank: 65
HDPSX Omega Ratio Rank: 57
HDPSX Calmar Ratio Rank: 92
HDPSX Martin Ratio Rank: 80

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.

HDPBX vs. HDPSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hodges Blue Chip Equity Income Fund (HDPBX) and Hodges Small Cap Fund (HDPSX). 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.

	HDPBX	HDPSX	Difference
Sharpe ratio Return per unit of total volatility	2.24	2.53	-0.29
Sortino ratio Return per unit of downside risk	3.13	3.37	-0.24
Omega ratio Gain probability vs. loss probability	1.40	1.42	-0.02
Calmar ratio Return relative to maximum drawdown	2.43	4.95	-2.52
Martin ratio Return relative to average drawdown	9.87	15.01	-5.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HDPBX vs. HDPSX - Sharpe Ratio Comparison

The current HDPBX Sharpe Ratio is 2.24, which is comparable to the HDPSX Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of HDPBX and HDPSX, 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

	HDPBX	HDPSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	2.53	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.03	0.61	+0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	0.57	+0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.44	+0.37

Drawdowns

HDPBX vs. HDPSX - Drawdown Comparison

The maximum HDPBX drawdown since its inception was -35.10%, smaller than the maximum HDPSX drawdown of -65.86%. Use the drawdown chart below to compare losses from any high point for HDPBX and HDPSX.

Drawdown Indicators

	HDPBX	HDPSX	Difference
Max Drawdown Largest peak-to-trough decline	-35.10%	-65.86%	+30.76%
Max Drawdown (1Y) Largest decline over 1 year	-12.48%	-10.42%	-2.06%
Max Drawdown (3Y) Largest decline over 3 years	-20.96%	-28.83%	+7.87%
Max Drawdown (5Y) Largest decline over 5 years	-21.76%	-28.83%	+7.07%
Max Drawdown (10Y) Largest decline over 10 years	-35.10%	-58.96%	+23.86%
Current Drawdown Current decline from peak	0.00%	-0.23%	+0.23%
Average Drawdown Average peak-to-trough decline	-3.97%	-10.85%	+6.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	3.43%	-0.36%

Volatility

HDPBX vs. HDPSX - Volatility Comparison

The current volatility for Hodges Blue Chip Equity Income Fund (HDPBX) is 3.29%, while Hodges Small Cap Fund (HDPSX) has a volatility of 6.38%. This indicates that HDPBX experiences smaller price fluctuations and is considered to be less risky than HDPSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDPBX	HDPSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.29%	6.38%	-3.09%
Volatility (6M) Calculated over the trailing 6-month period	10.48%	14.90%	-4.42%
Volatility (1Y) Calculated over the trailing 1-year period	13.62%	21.01%	-7.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.87%	27.00%	-8.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.28%	27.50%	-8.22%

HDPBX vs. HDPSX - Expense Ratio Comparison

HDPBX has a 1.30% expense ratio, which is lower than HDPSX's 1.36% expense ratio.

Dividends

HDPBX vs. HDPSX - Dividend Comparison

HDPBX's dividend yield for the trailing twelve months is around 4.58%, less than HDPSX's 5.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDPBX Hodges Blue Chip Equity Income Fund	4.58%	4.97%	27.38%	0.90%	8.75%	10.88%	5.26%	7.59%	5.83%	9.44%	5.04%	7.86%
HDPSX Hodges Small Cap Fund	5.90%	7.64%	44.97%	5.01%	6.46%	19.53%	0.00%	8.25%	4.66%	14.53%	0.32%	0.35%

Frequently Asked Questions

Can I hold both HDPBX and HDPSX in my portfolio?

HDPBX and HDPSX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HDPBX or HDPSX?

HDPSX has higher volatility (6.38%) compared to HDPBX (3.29%). In terms of maximum drawdown, HDPBX dropped -35.10% vs HDPSX's -65.86%.

Which has better risk-adjusted returns?

HDPSX currently has the higher Sharpe Ratio (2.53 vs 2.24), 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.