LBWIX vs. SHAPX

Last updated Jun 5, 2026

LBWIX (BrandywineGLOBAL - Diversified US Large Cap Value Fund) and SHAPX (ClearBridge Appreciation Fund) are both mutual funds - LBWIX is a Large Cap Value Equities fund managed by Franklin Templeton, while SHAPX is a Large Cap Blend Equities fund managed by Franklin Templeton. Over the past 10 years, LBWIX returned 11.99%/yr vs 13.17%/yr for SHAPX. Their correlation of 0.87 suggests significant overlap in exposure. LBWIX charges 0.84%/yr vs 0.93%/yr for SHAPX.

Performance

LBWIX vs. SHAPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BrandywineGLOBAL - Diversified US Large Cap Value Fund (LBWIX) and ClearBridge Appreciation Fund (SHAPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LBWIX achieves a 10.00% return, which is significantly higher than SHAPX's 5.26% return. Over the past 10 years, LBWIX has underperformed SHAPX with an annualized return of 11.99%, while SHAPX has yielded a comparatively higher 13.17% annualized return.

LBWIX

• 1D: -0.09%
• 1M: 2.68%
• YTD: 10.00%
• 6M: 11.14%
• 1Y: 26.84%
• 3Y*: 19.20%
• 5Y*: 10.90%
• 10Y*: 11.99%

SHAPX

• 1D: -0.73%
• 1M: 1.27%
• YTD: 5.26%
• 6M: 4.83%
• 1Y: 16.57%
• 3Y*: 17.35%
• 5Y*: 11.12%
• 10Y*: 13.17%

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

LBWIX vs. SHAPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LBWIX BrandywineGLOBAL - Diversified US Large Cap Value Fund	10.00%	17.38%	18.59%	7.42%	-1.56%	29.74%	-1.41%	25.66%	-9.05%	17.79%
SHAPX ClearBridge Appreciation Fund	5.26%	14.32%	22.37%	19.50%	-12.56%	23.52%	14.53%	29.84%	-2.19%	18.31%

Correlation

The correlation between LBWIX and SHAPX is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 4, 2011	0.87

Over the past year, the correlation between LBWIX and SHAPX has dropped to 0.62 - well below their long-term average of 0.87, suggesting their price drivers have been diverging.

Return for Risk

LBWIX vs. SHAPX — Risk / Return Rank

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

LBWIX

LBWIX Risk / Return Rank: 73
LBWIX Sharpe Ratio Rank: 72
LBWIX Sortino Ratio Rank: 74
LBWIX Omega Ratio Rank: 62
LBWIX Calmar Ratio Rank: 84
LBWIX Martin Ratio Rank: 74

SHAPX

SHAPX Risk / Return Rank: 32
SHAPX Sharpe Ratio Rank: 31
SHAPX Sortino Ratio Rank: 31
SHAPX Omega Ratio Rank: 31
SHAPX Calmar Ratio Rank: 27
SHAPX Martin Ratio Rank: 41

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.

LBWIX vs. SHAPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BrandywineGLOBAL - Diversified US Large Cap Value Fund (LBWIX) and ClearBridge Appreciation Fund (SHAPX). 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.

	LBWIX	SHAPX	Difference
Sharpe ratio: Return per unit of total volatility	2.44	1.60	+0.84
Sortino ratio: Return per unit of downside risk	3.57	2.32	+1.25
Omega ratio: Gain probability vs. loss probability	1.43	1.29	+0.14
Calmar ratio: Return relative to maximum drawdown	3.84	1.92	+1.92
Martin ratio: Return relative to average drawdown	13.66	8.78	+4.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LBWIX vs. SHAPX - Sharpe Ratio Comparison

The current LBWIX Sharpe Ratio is 2.44, which is higher than the SHAPX Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of LBWIX and SHAPX, 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

	LBWIX	SHAPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	1.60	+0.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.75	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.79	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.79	-0.10

Drawdowns

LBWIX vs. SHAPX - Drawdown Comparison

The maximum LBWIX drawdown since its inception was -38.22%, smaller than the maximum SHAPX drawdown of -46.19%. Use the drawdown chart below to compare losses from any high point for LBWIX and SHAPX.

Drawdown Indicators

	LBWIX	SHAPX	Difference
Max Drawdown Largest peak-to-trough decline	-38.22%	-46.19%	+7.97%
Max Drawdown (1Y) Largest decline over 1 year	-6.80%	-8.74%	+1.94%
Max Drawdown (3Y) Largest decline over 3 years	-14.05%	-16.15%	+2.10%
Max Drawdown (5Y) Largest decline over 5 years	-17.87%	-20.53%	+2.66%
Max Drawdown (10Y) Largest decline over 10 years	-38.22%	-32.21%	-6.01%
Current Drawdown Current decline from peak	-0.09%	-1.21%	+1.12%
Average Drawdown Average peak-to-trough decline	-3.95%	-4.78%	+0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	1.91%	0.00%

Volatility

LBWIX vs. SHAPX - Volatility Comparison

BrandywineGLOBAL - Diversified US Large Cap Value Fund (LBWIX) has a higher volatility of 2.66% compared to ClearBridge Appreciation Fund (SHAPX) at 2.47%. This indicates that LBWIX's price experiences larger fluctuations and is considered to be riskier than SHAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LBWIX	SHAPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.66%	2.47%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	7.80%	7.91%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	10.68%	10.48%	+0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.79%	14.86%	-0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.84%	16.73%	+1.11%

LBWIX vs. SHAPX - Expense Ratio Comparison

LBWIX has a 0.84% expense ratio, which is lower than SHAPX's 0.93% expense ratio.

Dividends

LBWIX vs. SHAPX - Dividend Comparison

LBWIX's dividend yield for the trailing twelve months is around 11.32%, less than SHAPX's 13.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LBWIX BrandywineGLOBAL - Diversified US Large Cap Value Fund	11.32%	12.45%	11.18%	1.90%	13.87%	16.48%	2.89%	11.13%	11.30%	6.47%	6.95%	6.82%
SHAPX ClearBridge Appreciation Fund	13.37%	14.08%	9.00%	4.17%	8.85%	6.54%	4.13%	7.09%	6.71%	5.10%	3.29%	4.76%

Frequently Asked Questions

Can I hold both LBWIX and SHAPX in my portfolio?

LBWIX and SHAPX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LBWIX or SHAPX?

LBWIX has higher volatility (2.66%) compared to SHAPX (2.47%). In terms of maximum drawdown, LBWIX dropped -38.22% vs SHAPX's -46.19%.

Which has better risk-adjusted returns?

LBWIX currently has the higher Sharpe Ratio (2.44 vs 1.60), 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.