USPH vs. FXAIX

Last updated Jun 3, 2026

USPH (U.S. Physical Therapy, Inc.) is a stock, while FXAIX (Fidelity 500 Index Fund) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, USPH returned 2.05%/yr vs 15.65%/yr for FXAIX. At a 0.43 correlation, their price movements are largely independent.

Performance

USPH vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in U.S. Physical Therapy, Inc. (USPH) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USPH achieves a -18.89% return, which is significantly lower than FXAIX's 11.56% return. Over the past 10 years, USPH has underperformed FXAIX with an annualized return of 2.05%, while FXAIX has yielded a comparatively higher 15.65% annualized return.

USPH

• 1D: -0.05%
• 1M: -12.35%
• YTD: -18.89%
• 6M: -13.79%
• 1Y: -13.63%
• 3Y*: -14.32%
• 5Y*: -10.70%
• 10Y*: 2.05%

FXAIX

• 1D: 0.27%
• 1M: 5.24%
• YTD: 11.56%
• 6M: 11.94%
• 1Y: 29.57%
• 3Y*: 22.70%
• 5Y*: 14.17%
• 10Y*: 15.65%

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

USPH vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USPH U.S. Physical Therapy, Inc.	-18.89%	-9.88%	-2.97%	16.98%	-13.67%	-19.48%	5.52%	12.81%	43.09%	4.14%
FXAIX Fidelity 500 Index Fund	11.56%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between USPH and FXAIX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since May 5, 2011	0.43

Return for Risk

USPH vs. FXAIX — Risk / Return Rank

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

USPH

USPH Risk / Return Rank: 24
USPH Sharpe Ratio Rank: 26
USPH Sortino Ratio Rank: 25
USPH Omega Ratio Rank: 24
USPH Calmar Ratio Rank: 27
USPH Martin Ratio Rank: 20

FXAIX

FXAIX Risk / Return Rank: 75
FXAIX Sharpe Ratio Rank: 77
FXAIX Sortino Ratio Rank: 69
FXAIX Omega Ratio Rank: 69
FXAIX Calmar Ratio Rank: 74
FXAIX Martin Ratio Rank: 84

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.

USPH vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for U.S. Physical Therapy, Inc. (USPH) and Fidelity 500 Index Fund (FXAIX). 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.

	USPH	FXAIX	Difference
Sharpe ratio Return per unit of total volatility	-0.34	2.55	-2.89
Sortino ratio Return per unit of downside risk	-0.20	3.46	-3.67
Omega ratio Gain probability vs. loss probability	0.97	1.46	-0.49
Calmar ratio Return relative to maximum drawdown	-0.41	3.39	-3.79
Martin ratio Return relative to average drawdown	-0.99	15.86	-16.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USPH vs. FXAIX - Sharpe Ratio Comparison

The current USPH Sharpe Ratio is -0.34, which is lower than the FXAIX Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of USPH and FXAIX, 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

	USPH	FXAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.34	2.55	-2.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.29	0.84	-1.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.05	0.87	-0.82
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.82	-0.59

Drawdowns

USPH vs. FXAIX - Drawdown Comparison

The maximum USPH drawdown since its inception was -67.21%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for USPH and FXAIX.

Drawdown Indicators

	USPH	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-67.21%	-33.79%	-33.42%
Max Drawdown (1Y) Largest decline over 1 year	-35.89%	-8.89%	-27.00%
Max Drawdown (3Y) Largest decline over 3 years	-49.25%	-18.76%	-30.49%
Max Drawdown (5Y) Largest decline over 5 years	-51.14%	-24.50%	-26.64%
Max Drawdown (10Y) Largest decline over 10 years	-67.21%	-33.79%	-33.42%
Current Drawdown Current decline from peak	-52.54%	0.00%	-52.54%
Average Drawdown Average peak-to-trough decline	-24.00%	-3.79%	-20.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.68%	1.90%	+12.78%

Volatility

USPH vs. FXAIX - Volatility Comparison

U.S. Physical Therapy, Inc. (USPH) has a higher volatility of 25.90% compared to Fidelity 500 Index Fund (FXAIX) at 2.82%. This indicates that USPH's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USPH	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.90%	2.82%	+23.08%
Volatility (6M) Calculated over the trailing 6-month period	31.06%	8.99%	+22.07%
Volatility (1Y) Calculated over the trailing 1-year period	40.63%	11.88%	+28.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.58%	16.91%	+19.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.62%	18.07%	+21.55%

Dividends

USPH vs. FXAIX - Dividend Comparison

USPH's dividend yield for the trailing twelve months is around 2.91%, more than FXAIX's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXAIX Fidelity 500 Index Fund	1.03%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%
USPH U.S. Physical Therapy, Inc.	2.91%	2.31%	1.98%	1.85%	2.02%	1.53%	0.27%	1.00%	0.90%	1.11%	0.97%	1.12%

Frequently Asked Questions

Can I hold both USPH and FXAIX in my portfolio?

USPH and FXAIX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USPH or FXAIX?

USPH has higher volatility (25.90%) compared to FXAIX (2.82%). In terms of maximum drawdown, USPH dropped -67.21% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FXAIX currently has the higher Sharpe Ratio (2.55 vs -0.34), 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.