SHAPX vs. MUHLX
Compare and contrast key facts about ClearBridge Appreciation Fund (SHAPX) and Muhlenkamp Fund (MUHLX).
SHAPX is managed by Franklin Templeton. It was launched on Mar 10, 1970. MUHLX is managed by Muhlenkamp. It was launched on Nov 1, 1988.
Performance
SHAPX vs. MUHLX - Performance Comparison
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SHAPX vs. MUHLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHAPX ClearBridge Appreciation Fund | -3.71% | 14.32% | 22.37% | 19.50% | -12.56% | 23.52% | 14.53% | 29.84% | -2.19% | 18.31% |
MUHLX Muhlenkamp Fund | 9.11% | 17.82% | 3.38% | 13.92% | 2.89% | 28.98% | 11.96% | 14.39% | -13.29% | 18.78% |
Returns By Period
In the year-to-date period, SHAPX achieves a -3.71% return, which is significantly lower than MUHLX's 9.11% return. Over the past 10 years, SHAPX has outperformed MUHLX with an annualized return of 12.29%, while MUHLX has yielded a comparatively lower 10.68% annualized return.
SHAPX
- 1D
- 2.70%
- 1M
- -5.35%
- YTD
- -3.71%
- 6M
- -2.94%
- 1Y
- 13.34%
- 3Y*
- 15.60%
- 5Y*
- 10.41%
- 10Y*
- 12.29%
MUHLX
- 1D
- 2.42%
- 1M
- -5.65%
- YTD
- 9.11%
- 6M
- 10.37%
- 1Y
- 22.96%
- 3Y*
- 14.41%
- 5Y*
- 12.05%
- 10Y*
- 10.68%
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SHAPX vs. MUHLX - Expense Ratio Comparison
SHAPX has a 0.93% expense ratio, which is lower than MUHLX's 1.14% expense ratio.
Return for Risk
SHAPX vs. MUHLX — Risk / Return Rank
SHAPX
MUHLX
SHAPX vs. MUHLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ClearBridge Appreciation Fund (SHAPX) and Muhlenkamp Fund (MUHLX). 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.
| SHAPX | MUHLX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.85 | 1.42 | -0.57 |
Sortino ratioReturn per unit of downside risk | 1.33 | 1.97 | -0.64 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.28 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.36 | 2.37 | -1.01 |
Martin ratioReturn relative to average drawdown | 6.17 | 8.57 | -2.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHAPX | MUHLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.85 | 1.42 | -0.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 0.82 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.74 | 0.63 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 0.51 | +0.26 |
Correlation
The correlation between SHAPX and MUHLX is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SHAPX vs. MUHLX - Dividend Comparison
SHAPX's dividend yield for the trailing twelve months is around 14.62%, more than MUHLX's 3.06% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHAPX ClearBridge Appreciation Fund | 14.62% | 14.08% | 9.00% | 4.17% | 8.85% | 6.54% | 4.13% | 7.09% | 6.71% | 5.10% | 3.29% | 4.76% |
MUHLX Muhlenkamp Fund | 3.06% | 3.34% | 0.58% | 0.89% | 6.80% | 7.77% | 10.28% | 1.26% | 14.70% | 4.30% | 0.00% | 11.02% |
Drawdowns
SHAPX vs. MUHLX - Drawdown Comparison
The maximum SHAPX drawdown since its inception was -46.19%, smaller than the maximum MUHLX drawdown of -62.05%. Use the drawdown chart below to compare losses from any high point for SHAPX and MUHLX.
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Drawdown Indicators
| SHAPX | MUHLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.19% | -62.05% | +15.86% |
Max Drawdown (1Y)Largest decline over 1 year | -10.57% | -10.23% | -0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -20.53% | -18.63% | -1.90% |
Max Drawdown (10Y)Largest decline over 10 years | -32.21% | -40.85% | +8.64% |
Current DrawdownCurrent decline from peak | -6.27% | -5.65% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -4.79% | -10.81% | +6.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.33% | 2.83% | -0.50% |
Volatility
SHAPX vs. MUHLX - Volatility Comparison
The current volatility for ClearBridge Appreciation Fund (SHAPX) is 4.83%, while Muhlenkamp Fund (MUHLX) has a volatility of 6.01%. This indicates that SHAPX experiences smaller price fluctuations and is considered to be less risky than MUHLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHAPX | MUHLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.83% | 6.01% | -1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 8.30% | 12.06% | -3.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.09% | 16.85% | -0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.89% | 14.77% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.72% | 17.04% | -0.32% |