OUSM vs. FTHNX

Last updated Aug 2, 2026

OUSM (OShares U.S. Small-Cap Quality Dividend ETF) and FTHNX (Fuller & Thaler Behavioral Small-Cap Equity Fund) are both funds - OUSM is a Quality Factor fund tracking the O'Shares US Small-Cap Quality Dividend Index, while FTHNX is a Small Cap Blend Equities fund managed by Fuller & Thaler Asset Mgmt. Over the past 5 years, OUSM returned 8.29%/yr vs 12.64%/yr for FTHNX. Their correlation of 0.92 means they have usually moved in the same direction. OUSM charges 0.48%/yr vs 1.03%/yr for FTHNX.

Performance

OUSM vs. FTHNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in OShares U.S. Small-Cap Quality Dividend ETF (OUSM) and Fuller & Thaler Behavioral Small-Cap Equity Fund (FTHNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OUSM achieves a 12.35% return, which is significantly lower than FTHNX's 16.92% return.

OUSM

• 1D: -0.14%
• 1M: 1.93%
• 6M: 8.31%
• YTD: 12.35%
• 1Y: 16.09%
• 3Y*: 11.37%
• 5Y*: 8.29%
• 10Y*: —
• ALL TIME*: 9.37%

FTHNX

• 1D: 0.55%
• 1M: 1.93%
• 6M: 12.96%
• YTD: 16.92%
• 1Y: 28.63%
• 3Y*: 17.81%
• 5Y*: 12.64%
• 10Y*: 13.81%
• ALL TIME*: 13.47%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FTHNX Fuller & Thaler Behavioral Small-Cap Equity Fund	$0.00	$0.00	$0.00
OUSM OShares U.S. Small-Cap Quality Dividend ETF	$4.75M	$3.66M	$3.05M

OUSM vs. FTHNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OUSM OShares U.S. Small-Cap Quality Dividend ETF	12.35%	2.17%	13.45%	18.82%	-7.89%	21.45%	7.64%	28.04%	-10.60%	10.85%
FTHNX Fuller & Thaler Behavioral Small-Cap Equity Fund	16.92%	11.69%	15.81%	22.18%	-7.73%	30.44%	10.05%	27.74%	-13.45%	17.25%

Correlation

The correlation between OUSM and FTHNX is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (All Time) Calculated using the full available price history since Dec 30, 2016	0.92

The correlation between OUSM and FTHNX has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.

Return for Risk

OUSM vs. FTHNX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OUSM

OUSM Risk / Return Rank: 44
OUSM Sharpe Ratio Rank: 44
OUSM Sortino Ratio Rank: 49
OUSM Omega Ratio Rank: 42
OUSM Calmar Ratio Rank: 44
OUSM Martin Ratio Rank: 42

FTHNX

FTHNX Risk / Return Rank: 78
FTHNX Sharpe Ratio Rank: 76
FTHNX Sortino Ratio Rank: 77
FTHNX Omega Ratio Rank: 72
FTHNX Calmar Ratio Rank: 83
FTHNX Martin Ratio Rank: 82

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OUSM vs. FTHNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for OShares U.S. Small-Cap Quality Dividend ETF (OUSM) and Fuller & Thaler Behavioral Small-Cap Equity Fund (FTHNX). 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.

	OUSM	FTHNX	Difference
Sharpe ratio: Return per unit of total volatility	1.09	1.75	-0.66
Sortino ratio: Return per unit of downside risk	1.74	2.61	-0.87
Omega ratio: Gain probability vs. loss probability	1.19	1.31	-0.11
Calmar ratio: Return relative to maximum drawdown	1.56	2.77	-1.20
Martin ratio: Return relative to average drawdown	4.61	9.95	-5.34

OUSM vs. FTHNX - Sharpe Ratio Comparison

The current OUSM Sharpe Ratio is 1.09, which is lower than the FTHNX Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of OUSM and FTHNX, 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

OUSM vs. FTHNX - Drawdown Comparison

The maximum OUSM drawdown since its inception was -39.84%, which is greater than FTHNX's maximum drawdown of -37.78%. Use the drawdown chart below to compare losses from any high point for OUSM and FTHNX.

Drawdown Indicators

	OUSM	FTHNX	Difference
Max Drawdown Largest peak-to-trough decline	-39.84%	-37.78%	-2.06%
Max Drawdown (1Y) Largest decline over 1 year	-9.21%	-9.44%	+0.23%
Max Drawdown (3Y) Largest decline over 3 years	-19.44%	-24.63%	+5.19%
Max Drawdown (5Y) Largest decline over 5 years	-19.44%	-24.63%	+5.19%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.78%	—
Current Drawdown Current decline from peak	-1.80%	-0.51%	-1.29%
Average Drawdown Average peak-to-trough decline	-5.14%	-5.62%	+0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	2.62%	+0.49%

Volatility

OUSM vs. FTHNX - Volatility Comparison

OShares U.S. Small-Cap Quality Dividend ETF (OUSM) has a higher volatility of 4.07% compared to Fuller & Thaler Behavioral Small-Cap Equity Fund (FTHNX) at 3.38%. This indicates that OUSM's price experiences larger fluctuations and is considered to be riskier than FTHNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OUSM	FTHNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	3.38%	+0.69%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	10.76%	-1.45%
Volatility (1Y) Calculated over the trailing 1-year period	13.17%	14.92%	-1.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.26%	18.78%	-2.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.85%	20.07%	-1.22%

OUSM vs. FTHNX - Expense Ratio Comparison

OUSM has a 0.48% expense ratio, which is lower than FTHNX's 1.03% expense ratio.

Dividends

OUSM vs. FTHNX - Dividend Comparison

OUSM's dividend yield for the trailing twelve months is around 1.93%, more than FTHNX's 0.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTHNX Fuller & Thaler Behavioral Small-Cap Equity Fund	0.24%	0.28%	7.84%	1.60%	0.95%	3.55%	0.11%	0.11%	0.21%	0.09%	0.00%	15.47%
OUSM OShares U.S. Small-Cap Quality Dividend ETF	1.93%	2.09%	1.62%	1.64%	1.98%	1.55%	2.02%	1.99%	2.63%	2.17%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OUSM and FTHNX in my portfolio?

OUSM and FTHNX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OUSM or FTHNX?

OUSM has higher volatility (4.07%) compared to FTHNX (3.38%). In terms of maximum drawdown, OUSM dropped -39.84% vs FTHNX's -37.78%.

Which has better risk-adjusted returns?

FTHNX currently has the higher Sharpe Ratio (1.75 vs 1.09), 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.