HEQFX vs. LLSCX

Last updated Jun 26, 2026

HEQFX (Monteagle Opportunity Equity Fund) and LLSCX (Longleaf Partners Small-Cap Fund) are both Mid Cap Blend Equities funds. Over the past 10 years, HEQFX returned 10.02%/yr vs 6.16%/yr for LLSCX. A 0.77 correlation means they provide meaningful diversification when combined. HEQFX charges 1.71%/yr vs 0.95%/yr for LLSCX.

Performance

HEQFX vs. LLSCX - Performance Comparison

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

Returns By Period

In the year-to-date period, HEQFX achieves a 10.30% return, which is significantly higher than LLSCX's -5.91% return. Over the past 10 years, HEQFX has outperformed LLSCX with an annualized return of 10.02%, while LLSCX has yielded a comparatively lower 6.16% annualized return.

HEQFX

• 1D: 0.78%
• 1M: 0.59%
• YTD: 10.30%
• 6M: 8.66%
• 1Y: 21.39%
• 3Y*: 13.41%
• 5Y*: 7.95%
• 10Y*: 10.02%

LLSCX

• 1D: 1.11%
• 1M: -0.04%
• YTD: -5.91%
• 6M: -6.30%
• 1Y: -1.43%
• 3Y*: 8.32%
• 5Y*: 0.78%
• 10Y*: 6.16%

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

HEQFX vs. LLSCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HEQFX Monteagle Opportunity Equity Fund	10.30%	9.63%	7.69%	13.38%	-5.43%	20.00%	12.46%	25.07%	-11.61%	10.48%
LLSCX Longleaf Partners Small-Cap Fund	-5.91%	7.56%	9.69%	20.17%	-19.25%	11.18%	4.17%	27.74%	-6.52%	9.07%

Correlation

The correlation between HEQFX and LLSCX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jun 10, 1998	0.77

The correlation between HEQFX and LLSCX has been stable across timeframes, ranging from 0.73 to 0.83 - a consistent structural relationship.

Return for Risk

HEQFX vs. LLSCX — Risk / Return Rank

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

HEQFX

HEQFX Risk / Return Rank: 45
HEQFX Sharpe Ratio Rank: 37
HEQFX Sortino Ratio Rank: 40
HEQFX Omega Ratio Rank: 36
HEQFX Calmar Ratio Rank: 65
HEQFX Martin Ratio Rank: 47

LLSCX

LLSCX Risk / Return Rank: 2
LLSCX Sharpe Ratio Rank: 2
LLSCX Sortino Ratio Rank: 2
LLSCX Omega Ratio Rank: 2
LLSCX Calmar Ratio Rank: 2
LLSCX Martin Ratio Rank: 2

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.

HEQFX vs. LLSCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monteagle Opportunity Equity Fund (HEQFX) 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.

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.

	HEQFX	LLSCX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	-0.23	+1.69
Sortino ratio: Return per unit of downside risk	2.18	-0.23	+2.41
Omega ratio: Gain probability vs. loss probability	1.26	0.97	+0.29
Calmar ratio: Return relative to maximum drawdown	2.65	-0.27	+2.92
Martin ratio: Return relative to average drawdown	8.34	-0.60	+8.94

HEQFX vs. LLSCX - Sharpe Ratio Comparison

The current HEQFX Sharpe Ratio is 1.46, which is higher than the LLSCX Sharpe Ratio of -0.23. The chart below compares the historical Sharpe Ratios of HEQFX and LLSCX, 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

HEQFX vs. LLSCX - Drawdown Comparison

The maximum HEQFX drawdown since its inception was -99.11%, which is greater than LLSCX's maximum drawdown of -63.97%. Use the drawdown chart below to compare losses from any high point for HEQFX and LLSCX.

Drawdown Indicators

	HEQFX	LLSCX	Difference
Max Drawdown Largest peak-to-trough decline	-99.11%	-63.97%	-35.14%
Max Drawdown (1Y) Largest decline over 1 year	-7.72%	-11.44%	+3.72%
Max Drawdown (3Y) Largest decline over 3 years	-99.11%	-15.40%	-83.71%
Max Drawdown (5Y) Largest decline over 5 years	-99.11%	-26.67%	-72.44%
Max Drawdown (10Y) Largest decline over 10 years	-99.11%	-42.23%	-56.88%
Current Drawdown Current decline from peak	-98.75%	-10.06%	-88.69%
Average Drawdown Average peak-to-trough decline	-11.15%	-8.90%	-2.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	5.09%	-2.64%

Volatility

HEQFX vs. LLSCX - Volatility Comparison

The current volatility for Monteagle Opportunity Equity Fund (HEQFX) is 3.86%, while Longleaf Partners Small-Cap Fund (LLSCX) has a volatility of 4.23%. This indicates that HEQFX experiences smaller price fluctuations and is considered to be less risky than LLSCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEQFX	LLSCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.86%	4.23%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	9.94%	9.10%	+0.84%
Volatility (1Y) Calculated over the trailing 1-year period	14.08%	13.17%	+0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4,128.89%	16.99%	+4,111.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2,916.67%	24.57%	+2,892.10%

HEQFX vs. LLSCX - Expense Ratio Comparison

HEQFX has a 1.71% expense ratio, which is higher than LLSCX's 0.95% expense ratio.

Dividends

HEQFX vs. LLSCX - Dividend Comparison

HEQFX's dividend yield for the trailing twelve months is around 9.91%, more than LLSCX's 1.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HEQFX Monteagle Opportunity Equity Fund	9.91%	10.97%	4.78%	30.44%	6.65%	27.15%	0.68%	7.39%	7.07%	10.68%	12.44%	62.20%
LLSCX Longleaf Partners Small-Cap Fund	1.25%	1.17%	0.11%	0.94%	1.20%	0.82%	5.85%	14.89%	18.13%	8.43%	18.01%	5.91%

Frequently Asked Questions

Can I hold both HEQFX and LLSCX in my portfolio?

HEQFX and LLSCX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HEQFX or LLSCX?

LLSCX has higher volatility (4.23%) compared to HEQFX (3.86%). In terms of maximum drawdown, HEQFX dropped -99.11% vs LLSCX's -63.97%.

Which has better risk-adjusted returns?

HEQFX currently has the higher Sharpe Ratio (1.46 vs -0.23), 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.