TBGVX vs. FMIJX

Last updated Jun 24, 2026

TBGVX (Tweedy, Browne International Value Fund) and FMIJX (FMI International Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, TBGVX returned 8.26%/yr vs 6.12%/yr for FMIJX. A 0.80 correlation means they provide meaningful diversification when combined. TBGVX charges 1.40%/yr vs 0.94%/yr for FMIJX.

Performance

TBGVX vs. FMIJX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tweedy, Browne International Value Fund (TBGVX) and FMI International Fund (FMIJX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TBGVX achieves a 10.22% return, which is significantly higher than FMIJX's 4.34% return. Over the past 10 years, TBGVX has outperformed FMIJX with an annualized return of 8.26%, while FMIJX has yielded a comparatively lower 6.12% annualized return.

TBGVX

• 1D: -0.22%
• 1M: 0.88%
• YTD: 10.22%
• 6M: 10.49%
• 1Y: 19.53%
• 3Y*: 13.61%
• 5Y*: 8.32%
• 10Y*: 8.26%

FMIJX

• 1D: -0.68%
• 1M: 3.44%
• YTD: 4.34%
• 6M: 3.83%
• 1Y: 11.34%
• 3Y*: 8.89%
• 5Y*: 4.27%
• 10Y*: 6.12%

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

TBGVX vs. FMIJX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TBGVX Tweedy, Browne International Value Fund	10.22%	23.86%	2.47%	12.48%	-7.52%	15.62%	-1.00%	14.64%	-6.72%	15.03%
FMIJX FMI International Fund	4.34%	8.57%	6.99%	21.81%	-18.67%	13.82%	0.06%	17.11%	-9.54%	13.90%

Correlation

The correlation between TBGVX and FMIJX is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Dec 31, 2010	0.80

The correlation between TBGVX and FMIJX has been stable across timeframes, ranging from 0.71 to 0.80 - a consistent structural relationship.

Return for Risk

TBGVX vs. FMIJX — Risk / Return Rank

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

TBGVX

TBGVX Risk / Return Rank: 46
TBGVX Sharpe Ratio Rank: 55
TBGVX Sortino Ratio Rank: 55
TBGVX Omega Ratio Rank: 56
TBGVX Calmar Ratio Rank: 33
TBGVX Martin Ratio Rank: 30

FMIJX

FMIJX Risk / Return Rank: 11
FMIJX Sharpe Ratio Rank: 10
FMIJX Sortino Ratio Rank: 12
FMIJX Omega Ratio Rank: 10
FMIJX Calmar Ratio Rank: 10
FMIJX Martin Ratio Rank: 10

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.

TBGVX vs. FMIJX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tweedy, Browne International Value Fund (TBGVX) and FMI International Fund (FMIJX). 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.

	TBGVX	FMIJX	Difference
Sharpe ratio: Return per unit of total volatility	2.02	0.81	+1.21
Sortino ratio: Return per unit of downside risk	2.87	1.30	+1.57
Omega ratio: Gain probability vs. loss probability	1.38	1.15	+0.23
Calmar ratio: Return relative to maximum drawdown	2.04	0.87	+1.18
Martin ratio: Return relative to average drawdown	6.53	2.82	+3.71

TBGVX vs. FMIJX - Sharpe Ratio Comparison

The current TBGVX Sharpe Ratio is 2.02, which is higher than the FMIJX Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of TBGVX and FMIJX, 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

TBGVX vs. FMIJX - Drawdown Comparison

The maximum TBGVX drawdown since its inception was -50.97%, which is greater than FMIJX's maximum drawdown of -37.45%. Use the drawdown chart below to compare losses from any high point for TBGVX and FMIJX.

Drawdown Indicators

	TBGVX	FMIJX	Difference
Max Drawdown Largest peak-to-trough decline	-50.97%	-37.45%	-13.52%
Max Drawdown (1Y) Largest decline over 1 year	-9.56%	-13.46%	+3.90%
Max Drawdown (3Y) Largest decline over 3 years	-11.45%	-15.88%	+4.43%
Max Drawdown (5Y) Largest decline over 5 years	-17.71%	-21.77%	+4.06%
Max Drawdown (10Y) Largest decline over 10 years	-31.18%	-37.45%	+6.27%
Current Drawdown Current decline from peak	-1.40%	-2.15%	+0.75%
Average Drawdown Average peak-to-trough decline	-6.07%	-4.66%	-1.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	4.13%	-1.15%

Volatility

TBGVX vs. FMIJX - Volatility Comparison

The current volatility for Tweedy, Browne International Value Fund (TBGVX) is 2.51%, while FMI International Fund (FMIJX) has a volatility of 4.09%. This indicates that TBGVX experiences smaller price fluctuations and is considered to be less risky than FMIJX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TBGVX	FMIJX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.51%	4.09%	-1.58%
Volatility (6M) Calculated over the trailing 6-month period	7.91%	11.52%	-3.61%
Volatility (1Y) Calculated over the trailing 1-year period	9.67%	14.41%	-4.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.12%	14.45%	-3.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.64%	15.19%	-2.55%

TBGVX vs. FMIJX - Expense Ratio Comparison

TBGVX has a 1.40% expense ratio, which is higher than FMIJX's 0.94% expense ratio.

Dividends

TBGVX vs. FMIJX - Dividend Comparison

TBGVX's dividend yield for the trailing twelve months is around 10.99%, less than FMIJX's 12.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMIJX FMI International Fund	12.54%	13.09%	0.00%	0.00%	4.43%	3.46%	0.00%	3.55%	7.43%	0.28%	3.76%	1.84%
TBGVX Tweedy, Browne International Value Fund	10.99%	12.11%	9.95%	4.55%	5.68%	8.89%	0.94%	1.88%	6.74%	1.10%	3.16%	4.94%

Frequently Asked Questions

Can I hold both TBGVX and FMIJX in my portfolio?

TBGVX and FMIJX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TBGVX or FMIJX?

FMIJX has higher volatility (4.09%) compared to TBGVX (2.51%). In terms of maximum drawdown, TBGVX dropped -50.97% vs FMIJX's -37.45%.

Which has better risk-adjusted returns?

TBGVX currently has the higher Sharpe Ratio (2.02 vs 0.81), 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.