HDPMX vs. LLSCX

Last updated Apr 1, 2026

Compare and contrast key facts about Hodges Fund (HDPMX) and Longleaf Partners Small-Cap Fund (LLSCX).

HDPMX is managed by Hodges. It was launched on Oct 9, 1992. LLSCX is managed by Longleaf Partners. It was launched on Feb 21, 1989.

Performance

HDPMX vs. LLSCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hodges Fund (HDPMX) and Longleaf Partners Small-Cap Fund (LLSCX). The values are adjusted to include any dividend payments, if applicable.

HDPMX vs. LLSCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HDPMX Hodges Fund	-5.28%	24.06%	29.32%	29.81%	-21.80%	29.50%	29.58%	23.02%	-34.39%	13.87%
LLSCX Longleaf Partners Small-Cap Fund	-3.68%	7.56%	9.69%	20.17%	-19.25%	11.18%	4.17%	27.74%	-6.52%	9.07%

Returns By Period

In the year-to-date period, HDPMX achieves a -5.28% return, which is significantly lower than LLSCX's -3.68% return. Over the past 10 years, HDPMX has outperformed LLSCX with an annualized return of 12.10%, while LLSCX has yielded a comparatively lower 6.69% annualized return.

HDPMX

• 1D: -2.63%
• 1M: -11.81%
• YTD: -5.28%
• 6M: -3.62%
• 1Y: 26.09%
• 3Y*: 22.39%
• 5Y*: 10.51%
• 10Y*: 12.10%

LLSCX

• 1D: 0.61%
• 1M: -3.81%
• YTD: -3.68%
• 6M: -2.59%
• 1Y: 2.07%
• 3Y*: 9.42%
• 5Y*: 1.87%
• 10Y*: 6.69%

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

HDPMX vs. LLSCX - Expense Ratio Comparison

HDPMX has a 1.17% expense ratio, which is higher than LLSCX's 0.95% expense ratio.

HDPMX

Hodges Fund

LLSCX

Longleaf Partners Small-Cap Fund

Return for Risk

HDPMX vs. LLSCX — Risk / Return Rank

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

HDPMX

HDPMX Risk / Return Rank: 43
HDPMX Sharpe Ratio Rank: 36
HDPMX Sortino Ratio Rank: 42
HDPMX Omega Ratio Rank: 41
HDPMX Calmar Ratio Rank: 45
HDPMX Martin Ratio Rank: 50

LLSCX

LLSCX Risk / Return Rank: 8
LLSCX Sharpe Ratio Rank: 8
LLSCX Sortino Ratio Rank: 7
LLSCX Omega Ratio Rank: 7
LLSCX Calmar Ratio Rank: 8
LLSCX Martin Ratio Rank: 8

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.

HDPMX vs. LLSCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hodges Fund (HDPMX) and Longleaf Partners Small-Cap Fund (LLSCX). 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.

	HDPMX	LLSCX	Difference
Sharpe ratio Return per unit of total volatility	0.79	0.15	+0.64
Sortino ratio Return per unit of downside risk	1.27	0.32	+0.95
Omega ratio Gain probability vs. loss probability	1.18	1.04	+0.14
Calmar ratio Return relative to maximum drawdown	1.13	0.10	+1.02
Martin ratio Return relative to average drawdown	4.90	0.30	+4.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HDPMX vs. LLSCX - Sharpe Ratio Comparison

The current HDPMX Sharpe Ratio is 0.79, which is higher than the LLSCX Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of HDPMX and LLSCX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HDPMX	LLSCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.79	0.15	+0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.11	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.27	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.51	-0.15

Correlation

The correlation between HDPMX and LLSCX is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HDPMX vs. LLSCX - Dividend Comparison

HDPMX's dividend yield for the trailing twelve months is around 10.02%, more than LLSCX's 1.22% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDPMX Hodges Fund	10.02%	9.50%	15.93%	0.72%	0.49%	0.00%	0.00%	0.00%	10.67%	7.26%	0.00%	1.04%
LLSCX Longleaf Partners Small-Cap Fund	1.22%	1.17%	0.11%	0.94%	1.20%	0.82%	5.85%	14.89%	18.13%	8.43%	18.01%	5.91%

Drawdowns

HDPMX vs. LLSCX - Drawdown Comparison

The maximum HDPMX drawdown since its inception was -69.66%, which is greater than LLSCX's maximum drawdown of -63.97%. Use the drawdown chart below to compare losses from any high point for HDPMX and LLSCX.

Drawdown Indicators

	HDPMX	LLSCX	Difference
Max Drawdown Largest peak-to-trough decline	-69.66%	-63.97%	-5.69%
Max Drawdown (1Y) Largest decline over 1 year	-18.36%	-10.47%	-7.89%
Max Drawdown (5Y) Largest decline over 5 years	-36.68%	-28.37%	-8.31%
Max Drawdown (10Y) Largest decline over 10 years	-67.16%	-42.23%	-24.93%
Current Drawdown Current decline from peak	-13.05%	-7.92%	-5.13%
Average Drawdown Average peak-to-trough decline	-15.82%	-8.90%	-6.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.23%	3.68%	+0.55%

Volatility

HDPMX vs. LLSCX - Volatility Comparison

Hodges Fund (HDPMX) has a higher volatility of 8.64% compared to Longleaf Partners Small-Cap Fund (LLSCX) at 3.90%. This indicates that HDPMX's price experiences larger fluctuations and is considered to be riskier than LLSCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDPMX	LLSCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.64%	3.90%	+4.74%
Volatility (6M) Calculated over the trailing 6-month period	17.29%	9.23%	+8.06%
Volatility (1Y) Calculated over the trailing 1-year period	31.62%	15.42%	+16.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.57%	17.00%	+12.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.31%	24.58%	+5.73%