WEFIX vs. HICOX

Last updated Jun 3, 2026

WEFIX (Weitz Short Duration Income Fund) and HICOX (Colorado Bond Shares A Tax Exempt Fund) are both mutual funds - WEFIX is a Short-Term Bond fund managed by Weitz, while HICOX is a Municipal Bonds fund managed by Freedom Funds. Over the past 10 years, WEFIX returned 2.78%/yr vs 4.14%/yr for HICOX. At a 0.20 correlation, their price movements are largely independent. WEFIX charges 0.48%/yr vs 0.55%/yr for HICOX.

Performance

WEFIX vs. HICOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Weitz Short Duration Income Fund (WEFIX) and Colorado Bond Shares A Tax Exempt Fund (HICOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WEFIX achieves a 1.29% return, which is significantly lower than HICOX's 2.02% return. Over the past 10 years, WEFIX has underperformed HICOX with an annualized return of 2.78%, while HICOX has yielded a comparatively higher 4.14% annualized return.

WEFIX

• 1D: -0.08%
• 1M: 0.21%
• YTD: 1.29%
• 6M: 1.67%
• 1Y: 4.55%
• 3Y*: 5.51%
• 5Y*: 3.18%
• 10Y*: 2.78%

HICOX

• 1D: 0.00%
• 1M: 0.22%
• YTD: 2.02%
• 6M: 2.49%
• 1Y: 6.80%
• 3Y*: 5.96%
• 5Y*: 3.00%
• 10Y*: 4.14%

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

WEFIX vs. HICOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WEFIX Weitz Short Duration Income Fund	1.29%	5.64%	6.12%	5.90%	-2.72%	1.04%	3.34%	4.23%	1.34%	1.54%
HICOX Colorado Bond Shares A Tax Exempt Fund	2.02%	4.36%	8.64%	5.10%	-6.14%	4.44%	4.69%	6.42%	4.64%	5.63%

Correlation

The correlation between WEFIX and HICOX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Dec 27, 1988	0.20

The correlation between WEFIX and HICOX shifts across timeframes, from 0.20 (all time) to 0.37 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

WEFIX vs. HICOX — Risk / Return Rank

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

WEFIX

WEFIX Risk / Return Rank: 92
WEFIX Sharpe Ratio Rank: 79
WEFIX Sortino Ratio Rank: 97
WEFIX Omega Ratio Rank: 94
WEFIX Calmar Ratio Rank: 94
WEFIX Martin Ratio Rank: 97

HICOX

HICOX Risk / Return Rank: 96
HICOX Sharpe Ratio Rank: 94
HICOX Sortino Ratio Rank: 97
HICOX Omega Ratio Rank: 97
HICOX Calmar Ratio Rank: 97
HICOX Martin Ratio Rank: 97

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.

WEFIX vs. HICOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Weitz Short Duration Income Fund (WEFIX) and Colorado Bond Shares A Tax Exempt Fund (HICOX). 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.

	WEFIX	HICOX	Difference
Sharpe ratio Return per unit of total volatility	2.59	3.23	-0.64
Sortino ratio Return per unit of downside risk	5.80	5.87	-0.06
Omega ratio Gain probability vs. loss probability	1.76	1.98	-0.22
Calmar ratio Return relative to maximum drawdown	5.57	6.79	-1.22
Martin ratio Return relative to average drawdown	25.91	26.08	-0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WEFIX vs. HICOX - Sharpe Ratio Comparison

The current WEFIX Sharpe Ratio is 2.59, which is comparable to the HICOX Sharpe Ratio of 3.23. The chart below compares the historical Sharpe Ratios of WEFIX and HICOX, 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

	WEFIX	HICOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	3.23	-0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.68	0.86	+0.82
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.65	1.35	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	1.63	1.62	+0.01

Drawdowns

WEFIX vs. HICOX - Drawdown Comparison

The maximum WEFIX drawdown since its inception was -5.98%, smaller than the maximum HICOX drawdown of -11.00%. Use the drawdown chart below to compare losses from any high point for WEFIX and HICOX.

Drawdown Indicators

	WEFIX	HICOX	Difference
Max Drawdown Largest peak-to-trough decline	-5.98%	-11.00%	+5.02%
Max Drawdown (1Y) Largest decline over 1 year	-0.91%	-1.10%	+0.19%
Max Drawdown (3Y) Largest decline over 3 years	-0.91%	-4.45%	+3.54%
Max Drawdown (5Y) Largest decline over 5 years	-4.75%	-9.66%	+4.91%
Max Drawdown (10Y) Largest decline over 10 years	-5.98%	-9.66%	+3.68%
Current Drawdown Current decline from peak	-0.08%	-0.00%	-0.08%
Average Drawdown Average peak-to-trough decline	-0.60%	-2.57%	+1.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.20%	0.29%	-0.09%

Volatility

WEFIX vs. HICOX - Volatility Comparison

Weitz Short Duration Income Fund (WEFIX) and Colorado Bond Shares A Tax Exempt Fund (HICOX) have volatilities of 0.63% and 0.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WEFIX	HICOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.63%	0.60%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	1.35%	1.61%	-0.26%
Volatility (1Y) Calculated over the trailing 1-year period	1.78%	2.21%	-0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.90%	3.54%	-1.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.69%	3.09%	-1.40%

WEFIX vs. HICOX - Expense Ratio Comparison

WEFIX has a 0.48% expense ratio, which is lower than HICOX's 0.55% expense ratio.

Dividends

WEFIX vs. HICOX - Dividend Comparison

WEFIX's dividend yield for the trailing twelve months is around 4.54%, more than HICOX's 4.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HICOX Colorado Bond Shares A Tax Exempt Fund	4.28%	3.98%	6.34%	2.53%	2.85%	3.60%	3.64%	4.11%	4.54%	4.56%	5.49%	4.32%
WEFIX Weitz Short Duration Income Fund	4.54%	4.55%	5.07%	3.73%	2.54%	1.87%	2.54%	2.49%	2.41%	2.11%	2.43%	2.39%

Frequently Asked Questions

Can I hold both WEFIX and HICOX in my portfolio?

WEFIX and HICOX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WEFIX or HICOX?

WEFIX has higher volatility (0.63%) compared to HICOX (0.60%). In terms of maximum drawdown, WEFIX dropped -5.98% vs HICOX's -11.00%.

Which has better risk-adjusted returns?

HICOX currently has the higher Sharpe Ratio (3.23 vs 2.59), 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.