VELIX vs. FTZIX

Last updated Jun 26, 2026

VELIX (VELA Large Cap Plus Fund) and FTZIX (Fuller & Thaler Behavioral Unconstrained Equity Fund) are both Large Cap Blend Equities funds. Over the past 5 years, VELIX returned 7.34%/yr vs 14.39%/yr for FTZIX. Their correlation of 0.81 suggests significant overlap in exposure. VELIX charges 1.84%/yr vs 1.12%/yr for FTZIX.

Performance

VELIX vs. FTZIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VELA Large Cap Plus Fund (VELIX) and Fuller & Thaler Behavioral Unconstrained Equity Fund (FTZIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VELIX achieves a -1.53% return, which is significantly lower than FTZIX's 21.73% return.

VELIX

• 1D: 0.66%
• 1M: -0.71%
• YTD: -1.53%
• 6M: -1.99%
• 1Y: 5.66%
• 3Y*: 10.47%
• 5Y*: 7.34%
• 10Y*: —

FTZIX

• 1D: 1.56%
• 1M: 6.74%
• YTD: 21.73%
• 6M: 19.33%
• 1Y: 43.95%
• 3Y*: 28.15%
• 5Y*: 14.39%
• 10Y*: —

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

VELIX vs. FTZIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VELIX VELA Large Cap Plus Fund	-1.53%	9.43%	14.65%	15.80%	-7.48%	28.21%	14.63%
FTZIX Fuller & Thaler Behavioral Unconstrained Equity Fund	21.73%	22.63%	25.31%	27.18%	-21.31%	25.25%	20.84%

Correlation

The correlation between VELIX and FTZIX is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Nov 2, 2020	0.81

The correlation between VELIX and FTZIX shifts across timeframes, from 0.67 (1 year) to 0.83 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

VELIX vs. FTZIX — Risk / Return Rank

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

VELIX

VELIX Risk / Return Rank: 9
VELIX Sharpe Ratio Rank: 9
VELIX Sortino Ratio Rank: 9
VELIX Omega Ratio Rank: 9
VELIX Calmar Ratio Rank: 9
VELIX Martin Ratio Rank: 10

FTZIX

FTZIX Risk / Return Rank: 89
FTZIX Sharpe Ratio Rank: 91
FTZIX Sortino Ratio Rank: 87
FTZIX Omega Ratio Rank: 80
FTZIX Calmar Ratio Rank: 94
FTZIX Martin Ratio Rank: 95

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.

VELIX vs. FTZIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VELA Large Cap Plus Fund (VELIX) and Fuller & Thaler Behavioral Unconstrained Equity Fund (FTZIX). 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.

	VELIX	FTZIX	Difference
Sharpe ratio: Return per unit of total volatility	0.57	2.61	-2.03
Sortino ratio: Return per unit of downside risk	0.89	3.66	-2.77
Omega ratio: Gain probability vs. loss probability	1.10	1.43	-0.33
Calmar ratio: Return relative to maximum drawdown	0.66	4.85	-4.19
Martin ratio: Return relative to average drawdown	2.17	18.71	-16.54

VELIX vs. FTZIX - Sharpe Ratio Comparison

The current VELIX Sharpe Ratio is 0.57, which is lower than the FTZIX Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of VELIX and FTZIX, 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

VELIX vs. FTZIX - Drawdown Comparison

The maximum VELIX drawdown since its inception was -16.39%, smaller than the maximum FTZIX drawdown of -37.22%. Use the drawdown chart below to compare losses from any high point for VELIX and FTZIX.

Drawdown Indicators

	VELIX	FTZIX	Difference
Max Drawdown Largest peak-to-trough decline	-16.39%	-37.22%	+20.83%
Max Drawdown (1Y) Largest decline over 1 year	-8.24%	-9.03%	+0.79%
Max Drawdown (3Y) Largest decline over 3 years	-15.80%	-18.65%	+2.85%
Max Drawdown (5Y) Largest decline over 5 years	-16.39%	-29.53%	+13.14%
Current Drawdown Current decline from peak	-3.63%	-0.01%	-3.62%
Average Drawdown Average peak-to-trough decline	-3.36%	-6.46%	+3.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	2.33%	+0.17%

Volatility

VELIX vs. FTZIX - Volatility Comparison

The current volatility for VELA Large Cap Plus Fund (VELIX) is 3.14%, while Fuller & Thaler Behavioral Unconstrained Equity Fund (FTZIX) has a volatility of 5.52%. This indicates that VELIX experiences smaller price fluctuations and is considered to be less risky than FTZIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VELIX	FTZIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.14%	5.52%	-2.38%
Volatility (6M) Calculated over the trailing 6-month period	7.42%	13.51%	-6.09%
Volatility (1Y) Calculated over the trailing 1-year period	9.51%	16.81%	-7.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.22%	19.54%	-6.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.51%	22.33%	-8.82%

VELIX vs. FTZIX - Expense Ratio Comparison

VELIX has a 1.84% expense ratio, which is higher than FTZIX's 1.12% expense ratio.

Dividends

VELIX vs. FTZIX - Dividend Comparison

VELIX's dividend yield for the trailing twelve months is around 7.21%, more than FTZIX's 0.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FTZIX Fuller & Thaler Behavioral Unconstrained Equity Fund	0.04%	0.05%	0.11%	0.19%	0.00%	0.00%	0.26%	0.76%
VELIX VELA Large Cap Plus Fund	7.21%	7.10%	6.86%	0.04%	1.79%	0.35%	0.12%	0.00%

Frequently Asked Questions

Can I hold both VELIX and FTZIX in my portfolio?

VELIX and FTZIX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VELIX or FTZIX?

FTZIX has higher volatility (5.52%) compared to VELIX (3.14%). In terms of maximum drawdown, VELIX dropped -16.39% vs FTZIX's -37.22%.

Which has better risk-adjusted returns?

FTZIX currently has the higher Sharpe Ratio (2.61 vs 0.57), 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.