PFSLX vs. HDPMX

Last updated Jun 6, 2026

PFSLX (Paradigm Select Fund) and HDPMX (Hodges Fund) are both Mid Cap Blend Equities funds. Over the past 10 years, PFSLX returned 17.10%/yr vs 14.70%/yr for HDPMX. Their correlation of 0.85 suggests significant overlap in exposure. PFSLX charges 1.16%/yr vs 1.17%/yr for HDPMX.

Performance

PFSLX vs. HDPMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Paradigm Select Fund (PFSLX) and Hodges Fund (HDPMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFSLX achieves a 43.63% return, which is significantly higher than HDPMX's 28.44% return. Over the past 10 years, PFSLX has outperformed HDPMX with an annualized return of 17.10%, while HDPMX has yielded a comparatively lower 14.70% annualized return.

PFSLX

• 1D: 1.46%
• 1M: 6.43%
• YTD: 43.63%
• 6M: 40.99%
• 1Y: 81.76%
• 3Y*: 29.91%
• 5Y*: 14.77%
• 10Y*: 17.10%

HDPMX

• 1D: -0.05%
• 1M: 8.40%
• YTD: 28.44%
• 6M: 26.25%
• 1Y: 54.98%
• 3Y*: 36.28%
• 5Y*: 16.09%
• 10Y*: 14.70%

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

PFSLX vs. HDPMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PFSLX Paradigm Select Fund	43.63%	13.27%	16.73%	26.94%	-26.44%	31.16%	26.05%	38.32%	-9.93%	16.13%
HDPMX Hodges Fund	28.44%	24.06%	29.32%	29.81%	-21.80%	29.50%	29.58%	23.02%	-34.39%	13.87%

Correlation

The correlation between PFSLX and HDPMX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 4, 2005	0.85

The correlation between PFSLX and HDPMX has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.

Return for Risk

PFSLX vs. HDPMX — Risk / Return Rank

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

PFSLX

PFSLX Risk / Return Rank: 92
PFSLX Sharpe Ratio Rank: 95
PFSLX Sortino Ratio Rank: 87
PFSLX Omega Ratio Rank: 80
PFSLX Calmar Ratio Rank: 98
PFSLX Martin Ratio Rank: 98

HDPMX

HDPMX Risk / Return Rank: 70
HDPMX Sharpe Ratio Rank: 70
HDPMX Sortino Ratio Rank: 55
HDPMX Omega Ratio Rank: 53
HDPMX Calmar Ratio Rank: 87
HDPMX Martin Ratio Rank: 87

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.

PFSLX vs. HDPMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Paradigm Select Fund (PFSLX) and Hodges Fund (HDPMX). 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.

	PFSLX	HDPMX	Difference
Sharpe ratio: Return per unit of total volatility	3.31	2.37	+0.94
Sortino ratio: Return per unit of downside risk	4.12	3.01	+1.11
Omega ratio: Gain probability vs. loss probability	1.52	1.39	+0.13
Calmar ratio: Return relative to maximum drawdown	7.51	4.08	+3.43
Martin ratio: Return relative to average drawdown	29.49	15.88	+13.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PFSLX vs. HDPMX - Sharpe Ratio Comparison

The current PFSLX Sharpe Ratio is 3.31, which is higher than the HDPMX Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of PFSLX and HDPMX, 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

	PFSLX	HDPMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.31	2.37	+0.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.55	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	0.49	-0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.40	-0.23

Drawdowns

PFSLX vs. HDPMX - Drawdown Comparison

The maximum PFSLX drawdown since its inception was -91.83%, which is greater than HDPMX's maximum drawdown of -69.66%. Use the drawdown chart below to compare losses from any high point for PFSLX and HDPMX.

Drawdown Indicators

	PFSLX	HDPMX	Difference
Max Drawdown Largest peak-to-trough decline	-91.83%	-69.66%	-22.17%
Max Drawdown (1Y) Largest decline over 1 year	-10.91%	-13.05%	+2.14%
Max Drawdown (3Y) Largest decline over 3 years	-91.83%	-32.65%	-59.18%
Max Drawdown (5Y) Largest decline over 5 years	-91.83%	-36.68%	-55.15%
Max Drawdown (10Y) Largest decline over 10 years	-91.83%	-67.16%	-24.67%
Current Drawdown Current decline from peak	-82.62%	-0.37%	-82.25%
Average Drawdown Average peak-to-trough decline	-13.75%	-15.74%	+1.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	3.34%	-0.57%

Volatility

PFSLX vs. HDPMX - Volatility Comparison

Paradigm Select Fund (PFSLX) has a higher volatility of 8.48% compared to Hodges Fund (HDPMX) at 6.64%. This indicates that PFSLX's price experiences larger fluctuations and is considered to be riskier than HDPMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFSLX	HDPMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.48%	6.64%	+1.84%
Volatility (6M) Calculated over the trailing 6-month period	19.33%	16.56%	+2.77%
Volatility (1Y) Calculated over the trailing 1-year period	24.75%	22.44%	+2.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	145.95%	29.58%	+116.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	104.38%	30.38%	+74.00%

PFSLX vs. HDPMX - Expense Ratio Comparison

PFSLX has a 1.16% expense ratio, which is lower than HDPMX's 1.17% expense ratio.

Dividends

PFSLX vs. HDPMX - Dividend Comparison

PFSLX's dividend yield for the trailing twelve months is around 0.10%, less than HDPMX's 7.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDPMX Hodges Fund	7.39%	9.50%	15.93%	0.72%	0.49%	0.00%	0.00%	0.00%	10.67%	7.26%	0.00%	1.04%
PFSLX Paradigm Select Fund	0.10%	0.14%	0.02%	0.31%	0.01%	0.17%	0.11%	0.58%	2.93%	3.89%	0.74%	9.40%

Frequently Asked Questions

Can I hold both PFSLX and HDPMX in my portfolio?

PFSLX and HDPMX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFSLX or HDPMX?

PFSLX has higher volatility (8.48%) compared to HDPMX (6.64%). In terms of maximum drawdown, PFSLX dropped -91.83% vs HDPMX's -69.66%.

Which has better risk-adjusted returns?

PFSLX currently has the higher Sharpe Ratio (3.31 vs 2.37), 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.