HOBEX vs. HOBIX

Last updated Jun 3, 2026

HOBEX (Holbrook Income Fund) and HOBIX (Holbrook Income Fund Class I) are both mutual funds - HOBEX is a Short-Term Bond fund managed by Holbrook Holdings, while HOBIX is a Intermediate Core-Plus Bond fund actively managed by Holbrook Holdings. Over the past 5 years, HOBEX returned 3.82%/yr vs 4.33%/yr for HOBIX. Their correlation of 0.87 suggests significant overlap in exposure. HOBEX charges 1.60%/yr vs 1.05%/yr for HOBIX.

Performance

HOBEX vs. HOBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Holbrook Income Fund (HOBEX) and Holbrook Income Fund Class I (HOBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOBEX achieves a 2.12% return, which is significantly lower than HOBIX's 2.43% return.

HOBEX

• 1D: 0.00%
• 1M: 0.34%
• YTD: 2.12%
• 6M: 2.51%
• 1Y: 5.97%
• 3Y*: 6.65%
• 5Y*: 3.82%
• 10Y*: —

HOBIX

• 1D: 0.00%
• 1M: 0.48%
• YTD: 2.43%
• 6M: 2.87%
• 1Y: 6.61%
• 3Y*: 7.32%
• 5Y*: 4.33%
• 10Y*: —

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

HOBEX vs. HOBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HOBEX Holbrook Income Fund	2.12%	7.23%	7.16%	4.74%	-3.42%	6.25%	6.83%	7.30%	1.26%	2.42%
HOBIX Holbrook Income Fund Class I	2.43%	7.67%	7.66%	5.65%	-2.91%	6.13%	7.45%	7.70%	1.74%	2.75%

Correlation

The correlation between HOBEX and HOBIX is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.87

Over the past year, the correlation between HOBEX and HOBIX has dropped to 0.51 - well below their long-term average of 0.87, suggesting their price drivers have been diverging.

Return for Risk

HOBEX vs. HOBIX — Risk / Return Rank

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

HOBEX

HOBEX Risk / Return Rank: 97
HOBEX Sharpe Ratio Rank: 90
HOBEX Sortino Ratio Rank: 98
HOBEX Omega Ratio Rank: 99
HOBEX Calmar Ratio Rank: 99
HOBEX Martin Ratio Rank: 99

HOBIX

HOBIX Risk / Return Rank: 98
HOBIX Sharpe Ratio Rank: 95
HOBIX Sortino Ratio Rank: 99
HOBIX Omega Ratio Rank: 100
HOBIX Calmar Ratio Rank: 99
HOBIX Martin Ratio Rank: 99

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.

HOBEX vs. HOBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Holbrook Income Fund (HOBEX) and Holbrook Income Fund Class I (HOBIX). 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.

	HOBEX	HOBIX	Difference
Sharpe ratio Return per unit of total volatility	2.96	3.31	-0.35
Sortino ratio Return per unit of downside risk	7.83	10.66	-2.83
Omega ratio Gain probability vs. loss probability	2.62	5.19	-2.57
Calmar ratio Return relative to maximum drawdown	10.84	14.03	-3.19
Martin ratio Return relative to average drawdown	38.89	48.98	-10.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HOBEX vs. HOBIX - Sharpe Ratio Comparison

The current HOBEX Sharpe Ratio is 2.96, which is comparable to the HOBIX Sharpe Ratio of 3.31. The chart below compares the historical Sharpe Ratios of HOBEX and HOBIX, 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

	HOBEX	HOBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.96	3.31	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.47	1.64	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.85	-0.08

Drawdowns

HOBEX vs. HOBIX - Drawdown Comparison

The maximum HOBEX drawdown since its inception was -23.58%, roughly equal to the maximum HOBIX drawdown of -23.52%. Use the drawdown chart below to compare losses from any high point for HOBEX and HOBIX.

Drawdown Indicators

	HOBEX	HOBIX	Difference
Max Drawdown Largest peak-to-trough decline	-23.58%	-23.52%	-0.06%
Max Drawdown (1Y) Largest decline over 1 year	-0.61%	-0.51%	-0.10%
Max Drawdown (3Y) Largest decline over 3 years	-2.74%	-2.77%	+0.03%
Max Drawdown (5Y) Largest decline over 5 years	-4.57%	-4.16%	-0.41%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.06%	-0.97%	-0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.17%	0.15%	+0.02%

Volatility

HOBEX vs. HOBIX - Volatility Comparison

Holbrook Income Fund (HOBEX) and Holbrook Income Fund Class I (HOBIX) have volatilities of 0.52% and 0.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HOBEX	HOBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.52%	0.53%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	1.67%	1.63%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	2.07%	2.01%	+0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.61%	2.65%	-0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.72%	5.74%	-0.02%

HOBEX vs. HOBIX - Expense Ratio Comparison

HOBEX has a 1.60% expense ratio, which is higher than HOBIX's 1.05% expense ratio.

Dividends

HOBEX vs. HOBIX - Dividend Comparison

HOBEX's dividend yield for the trailing twelve months is around 5.79%, less than HOBIX's 6.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
HOBEX Holbrook Income Fund	5.79%	5.94%	6.58%	5.05%	4.83%	4.00%	5.44%	3.05%	3.84%	1.69%
HOBIX Holbrook Income Fund Class I	6.29%	6.45%	7.04%	6.35%	5.31%	3.97%	6.30%	3.51%	4.32%	2.12%

Frequently Asked Questions

Can I hold both HOBEX and HOBIX in my portfolio?

HOBEX and HOBIX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HOBEX or HOBIX?

HOBIX has higher volatility (0.53%) compared to HOBEX (0.52%). In terms of maximum drawdown, HOBEX dropped -23.58% vs HOBIX's -23.52%.

Which has better risk-adjusted returns?

HOBIX currently has the higher Sharpe Ratio (3.31 vs 2.96), 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.