TQSIX vs. FTHMX

Last updated Jun 24, 2026

TQSIX (T. Rowe Price QM U.S. Small & Mid-Cap Core Equity Fund) and FTHMX (FullerThaler Behavioral Mid-Cap Equity Fund Institutional Shares) are both Mid Cap Blend Equities funds. Over the past year, TQSIX returned 34.18% vs 26.16% for FTHMX. Their correlation of 0.91 suggests significant overlap in exposure. TQSIX charges 0.68%/yr vs 0.83%/yr for FTHMX.

Performance

TQSIX vs. FTHMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price QM U.S. Small & Mid-Cap Core Equity Fund (TQSIX) and FullerThaler Behavioral Mid-Cap Equity Fund Institutional Shares (FTHMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TQSIX achieves a 19.48% return, which is significantly higher than FTHMX's 15.29% return.

TQSIX

• 1D: 1.20%
• 1M: 5.55%
• YTD: 19.48%
• 6M: 17.12%
• 1Y: 34.18%
• 3Y*: 21.62%
• 5Y*: 12.59%
• 10Y*: 13.62%

FTHMX

• 1D: 0.71%
• 1M: 1.53%
• YTD: 15.29%
• 6M: 13.80%
• 1Y: 26.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TQSIX vs. FTHMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TQSIX T. Rowe Price QM U.S. Small & Mid-Cap Core Equity Fund	19.48%	12.94%	16.54%	13.42%
FTHMX FullerThaler Behavioral Mid-Cap Equity Fund Institutional Shares	15.29%	12.89%	12.48%	11.60%

Correlation

The correlation between TQSIX and FTHMX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023	0.91

The correlation between TQSIX and FTHMX has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

Return for Risk

TQSIX vs. FTHMX — Risk / Return Rank

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

TQSIX

TQSIX Risk / Return Rank: 65
TQSIX Sharpe Ratio Rank: 59
TQSIX Sortino Ratio Rank: 59
TQSIX Omega Ratio Rank: 51
TQSIX Calmar Ratio Rank: 79
TQSIX Martin Ratio Rank: 78

FTHMX

FTHMX Risk / Return Rank: 72
FTHMX Sharpe Ratio Rank: 62
FTHMX Sortino Ratio Rank: 66
FTHMX Omega Ratio Rank: 55
FTHMX Calmar Ratio Rank: 90
FTHMX Martin Ratio Rank: 86

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.

TQSIX vs. FTHMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price QM U.S. Small & Mid-Cap Core Equity Fund (TQSIX) and FullerThaler Behavioral Mid-Cap Equity Fund Institutional Shares (FTHMX). 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.

	TQSIX	FTHMX	Difference
Sharpe ratio: Return per unit of total volatility	2.08	2.13	-0.05
Sortino ratio: Return per unit of downside risk	2.94	3.08	-0.14
Omega ratio: Gain probability vs. loss probability	1.36	1.38	-0.01
Calmar ratio: Return relative to maximum drawdown	3.41	4.36	-0.95
Martin ratio: Return relative to average drawdown	13.62	15.15	-1.52

TQSIX vs. FTHMX - Sharpe Ratio Comparison

The current TQSIX Sharpe Ratio is 2.08, which is comparable to the FTHMX Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of TQSIX and FTHMX, 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

TQSIX vs. FTHMX - Drawdown Comparison

The maximum TQSIX drawdown since its inception was -40.65%, which is greater than FTHMX's maximum drawdown of -20.45%. Use the drawdown chart below to compare losses from any high point for TQSIX and FTHMX.

Drawdown Indicators

	TQSIX	FTHMX	Difference
Max Drawdown Largest peak-to-trough decline	-40.65%	-20.45%	-20.20%
Max Drawdown (1Y) Largest decline over 1 year	-10.41%	-6.33%	-4.08%
Max Drawdown (3Y) Largest decline over 3 years	-23.76%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.76%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-40.65%	—	—
Current Drawdown Current decline from peak	0.00%	-1.13%	+1.13%
Average Drawdown Average peak-to-trough decline	-5.09%	-2.99%	-2.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	1.82%	+0.78%

Volatility

TQSIX vs. FTHMX - Volatility Comparison

T. Rowe Price QM U.S. Small & Mid-Cap Core Equity Fund (TQSIX) has a higher volatility of 6.04% compared to FullerThaler Behavioral Mid-Cap Equity Fund Institutional Shares (FTHMX) at 3.88%. This indicates that TQSIX's price experiences larger fluctuations and is considered to be riskier than FTHMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TQSIX	FTHMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.04%	3.88%	+2.16%
Volatility (6M) Calculated over the trailing 6-month period	13.43%	9.70%	+3.73%
Volatility (1Y) Calculated over the trailing 1-year period	17.06%	12.95%	+4.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.62%	15.42%	+4.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.39%	15.42%	+4.97%

TQSIX vs. FTHMX - Expense Ratio Comparison

TQSIX has a 0.68% expense ratio, which is lower than FTHMX's 0.83% expense ratio.

Dividends

TQSIX vs. FTHMX - Dividend Comparison

TQSIX's dividend yield for the trailing twelve months is around 1.10%, more than FTHMX's 0.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FTHMX FullerThaler Behavioral Mid-Cap Equity Fund Institutional Shares	0.28%	0.33%	0.28%	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TQSIX T. Rowe Price QM U.S. Small & Mid-Cap Core Equity Fund	1.10%	1.32%	6.61%	3.55%	6.35%	1.58%	0.81%	1.24%	2.28%	0.42%	0.88%

Frequently Asked Questions

Can I hold both TQSIX and FTHMX in my portfolio?

TQSIX and FTHMX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TQSIX or FTHMX?

TQSIX has higher volatility (6.04%) compared to FTHMX (3.88%). In terms of maximum drawdown, TQSIX dropped -40.65% vs FTHMX's -20.45%.

Which has better risk-adjusted returns?

FTHMX currently has the higher Sharpe Ratio (2.13 vs 2.08), 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.