USBNX vs. USBOX

Last updated Jun 5, 2026

USBNX (Pear Tree Polaris Small Cap Fund) and USBOX (Pear Tree Quality Fund) are both mutual funds - USBNX is a Small Cap Value Equities fund managed by Pear Tree Funds, while USBOX is a Large Cap Blend Equities fund managed by Pear Tree Funds. Over the past 10 years, USBNX returned 7.77%/yr vs 13.65%/yr for USBOX. A 0.76 correlation means they provide meaningful diversification when combined. USBNX charges 1.50%/yr vs 1.16%/yr for USBOX.

Performance

USBNX vs. USBOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pear Tree Polaris Small Cap Fund (USBNX) and Pear Tree Quality Fund (USBOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USBNX achieves a 11.24% return, which is significantly higher than USBOX's 4.43% return. Over the past 10 years, USBNX has underperformed USBOX with an annualized return of 7.77%, while USBOX has yielded a comparatively higher 13.65% annualized return.

USBNX

• 1D: -0.66%
• 1M: 0.78%
• YTD: 11.24%
• 6M: 11.01%
• 1Y: 21.56%
• 3Y*: 13.88%
• 5Y*: 5.30%
• 10Y*: 7.77%

USBOX

• 1D: -0.76%
• 1M: 2.69%
• YTD: 4.43%
• 6M: 5.24%
• 1Y: 17.80%
• 3Y*: 16.35%
• 5Y*: 9.15%
• 10Y*: 13.65%

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

USBNX vs. USBOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USBNX Pear Tree Polaris Small Cap Fund	11.24%	8.02%	8.64%	12.83%	-5.09%	15.35%	-4.77%	23.53%	-11.05%	6.42%
USBOX Pear Tree Quality Fund	4.43%	15.77%	17.99%	29.20%	-16.25%	16.50%	18.06%	31.18%	-1.97%	28.49%

Correlation

The correlation between USBNX and USBOX is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Aug 4, 1992	0.76

The correlation between USBNX and USBOX shifts across timeframes, from 0.61 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

Return for Risk

USBNX vs. USBOX — Risk / Return Rank

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

USBNX

USBNX Risk / Return Rank: 29
USBNX Sharpe Ratio Rank: 25
USBNX Sortino Ratio Rank: 28
USBNX Omega Ratio Rank: 25
USBNX Calmar Ratio Rank: 38
USBNX Martin Ratio Rank: 31

USBOX

USBOX Risk / Return Rank: 24
USBOX Sharpe Ratio Rank: 27
USBOX Sortino Ratio Rank: 27
USBOX Omega Ratio Rank: 25
USBOX Calmar Ratio Rank: 17
USBOX Martin Ratio Rank: 23

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.

USBNX vs. USBOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pear Tree Polaris Small Cap Fund (USBNX) and Pear Tree Quality Fund (USBOX). 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.

	USBNX	USBOX	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.49	-0.06
Sortino ratio: Return per unit of downside risk	2.18	2.14	+0.04
Omega ratio: Gain probability vs. loss probability	1.26	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	2.30	1.46	+0.83
Martin ratio: Return relative to average drawdown	7.03	5.67	+1.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USBNX vs. USBOX - Sharpe Ratio Comparison

The current USBNX Sharpe Ratio is 1.43, which is comparable to the USBOX Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of USBNX and USBOX, 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

	USBNX	USBOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.43	1.49	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.57	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	0.80	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.46	-0.07

Drawdowns

USBNX vs. USBOX - Drawdown Comparison

The maximum USBNX drawdown since its inception was -64.40%, roughly equal to the maximum USBOX drawdown of -65.67%. Use the drawdown chart below to compare losses from any high point for USBNX and USBOX.

Drawdown Indicators

	USBNX	USBOX	Difference
Max Drawdown Largest peak-to-trough decline	-64.40%	-65.67%	+1.27%
Max Drawdown (1Y) Largest decline over 1 year	-9.19%	-12.76%	+3.57%
Max Drawdown (3Y) Largest decline over 3 years	-21.56%	-15.41%	-6.15%
Max Drawdown (5Y) Largest decline over 5 years	-26.01%	-30.42%	+4.41%
Max Drawdown (10Y) Largest decline over 10 years	-46.96%	-30.42%	-16.54%
Current Drawdown Current decline from peak	-0.66%	-1.08%	+0.42%
Average Drawdown Average peak-to-trough decline	-13.63%	-17.10%	+3.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	3.27%	-0.29%

Volatility

USBNX vs. USBOX - Volatility Comparison

Pear Tree Polaris Small Cap Fund (USBNX) has a higher volatility of 3.72% compared to Pear Tree Quality Fund (USBOX) at 2.86%. This indicates that USBNX's price experiences larger fluctuations and is considered to be riskier than USBOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USBNX	USBOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	2.86%	+0.86%
Volatility (6M) Calculated over the trailing 6-month period	9.32%	9.70%	-0.38%
Volatility (1Y) Calculated over the trailing 1-year period	14.85%	12.55%	+2.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.78%	16.09%	+2.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.66%	17.15%	+4.51%

USBNX vs. USBOX - Expense Ratio Comparison

USBNX has a 1.50% expense ratio, which is higher than USBOX's 1.16% expense ratio.

Dividends

USBNX vs. USBOX - Dividend Comparison

USBNX's dividend yield for the trailing twelve months is around 12.41%, less than USBOX's 27.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USBNX Pear Tree Polaris Small Cap Fund	12.41%	13.81%	3.27%	0.86%	10.05%	0.75%	0.68%	7.91%	8.39%	6.21%	1.17%	7.39%
USBOX Pear Tree Quality Fund	27.93%	29.17%	8.71%	4.37%	14.55%	0.88%	7.47%	19.65%	15.43%	6.92%	6.19%	12.85%

Frequently Asked Questions

Can I hold both USBNX and USBOX in my portfolio?

USBNX and USBOX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USBNX or USBOX?

USBNX has higher volatility (3.72%) compared to USBOX (2.86%). In terms of maximum drawdown, USBNX dropped -64.40% vs USBOX's -65.67%.

Which has better risk-adjusted returns?

USBOX currently has the higher Sharpe Ratio (1.49 vs 1.43), 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.