WHGMX vs. FUQIX

Last updated Aug 5, 2026

WHGMX (Westwood Quality SMidCap Fund) and FUQIX (Fidelity SAI U.S. Quality Index Fund) are both Quality Factor funds. Over the past 10 years, WHGMX returned 9.83%/yr vs 15.90%/yr for FUQIX. Their 0.69 correlation means they have sometimes moved together and sometimes differently. WHGMX charges 0.88%/yr vs 0.10%/yr for FUQIX.

Performance

WHGMX vs. FUQIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Westwood Quality SMidCap Fund (WHGMX) and Fidelity SAI U.S. Quality Index Fund (FUQIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WHGMX achieves a 16.34% return, which is significantly higher than FUQIX's 10.19% return. Over the past 10 years, WHGMX has underperformed FUQIX with an annualized return of 9.83%, while FUQIX has yielded a comparatively higher 15.90% annualized return.

WHGMX

• 1D: 1.22%
• 1M: -0.47%
• 6M: 7.58%
• YTD: 16.34%
• 1Y: 21.21%
• 3Y*: 13.99%
• 5Y*: 9.34%
• 10Y*: 9.83%
• ALL TIME*: 9.53%

FUQIX

• 1D: 0.84%
• 1M: 0.61%
• 6M: 11.96%
• YTD: 10.19%
• 1Y: 17.55%
• 3Y*: 20.44%
• 5Y*: 12.65%
• 10Y*: 15.90%
• ALL TIME*: 15.54%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FUQIX Fidelity SAI U.S. Quality Index Fund	$0.00	$0.00	$0.00
WHGMX Westwood Quality SMidCap Fund	$0.00	$0.00	$0.00

WHGMX vs. FUQIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WHGMX Westwood Quality SMidCap Fund	16.34%	8.40%	10.41%	17.78%	-10.35%	21.39%	5.41%	29.42%	-11.70%	10.39%
FUQIX Fidelity SAI U.S. Quality Index Fund	10.19%	16.76%	24.32%	29.63%	-18.09%	28.28%	20.67%	34.66%	-3.39%	25.77%

Correlation

The correlation between WHGMX and FUQIX is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.58
Correlation (3Y) Balances recent behavior with more history.	0.61
Correlation (5Y) Shows whether the relationship held over a longer period.	0.68
Correlation (10Y) Provides a long-term view across more market conditions.	0.68
Correlation (All Time) Calculated using the full available price history since Oct 16, 2015	0.69

The correlation between WHGMX and FUQIX shifts across timeframes, from 0.58 (1 year) to 0.69 (all time), reflecting how their relationship changes across market environments.

Return for Risk

WHGMX vs. FUQIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WHGMX

WHGMX Risk / Return Rank: 48
WHGMX Sharpe Ratio Rank: 43
WHGMX Sortino Ratio Rank: 49
WHGMX Omega Ratio Rank: 38
WHGMX Calmar Ratio Rank: 61
WHGMX Martin Ratio Rank: 51

FUQIX

FUQIX Risk / Return Rank: 43
FUQIX Sharpe Ratio Rank: 50
FUQIX Sortino Ratio Rank: 48
FUQIX Omega Ratio Rank: 44
FUQIX Calmar Ratio Rank: 34
FUQIX Martin Ratio Rank: 41

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WHGMX vs. FUQIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Westwood Quality SMidCap Fund (WHGMX) and Fidelity SAI U.S. Quality Index Fund (FUQIX). 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.

	WHGMX	FUQIX	Difference
Sharpe ratio: Return per unit of total volatility	1.45	1.52	-0.07
Sortino ratio: Return per unit of downside risk	2.21	2.15	+0.05
Omega ratio: Gain probability vs. loss probability	1.25	1.27	-0.01
Calmar ratio: Return relative to maximum drawdown	2.37	1.63	+0.74
Martin ratio: Return relative to average drawdown	7.80	6.48	+1.32

WHGMX vs. FUQIX - Sharpe Ratio Comparison

The current WHGMX Sharpe Ratio is 1.45, which is comparable to the FUQIX Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of WHGMX and FUQIX, 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

WHGMX vs. FUQIX - Drawdown Comparison

The maximum WHGMX drawdown since its inception was -47.99%, which is greater than FUQIX's maximum drawdown of -31.19%. Use the drawdown chart below to compare losses from any high point for WHGMX and FUQIX.

Drawdown Indicators

	WHGMX	FUQIX	Difference
Max Drawdown Largest peak-to-trough decline	-47.99%	-31.19%	-16.80%
Max Drawdown (1Y) Largest decline over 1 year	-9.68%	-12.31%	+2.63%
Max Drawdown (3Y) Largest decline over 3 years	-23.78%	-17.86%	-5.92%
Max Drawdown (5Y) Largest decline over 5 years	-23.78%	-24.96%	+1.18%
Max Drawdown (10Y) Largest decline over 10 years	-42.26%	-31.19%	-11.07%
Current Drawdown Current decline from peak	-1.40%	-0.34%	-1.06%
Average Drawdown Average peak-to-trough decline	-7.15%	-4.21%	-2.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	3.08%	-0.14%

Volatility

WHGMX vs. FUQIX - Volatility Comparison

Westwood Quality SMidCap Fund (WHGMX) has a higher volatility of 3.92% compared to Fidelity SAI U.S. Quality Index Fund (FUQIX) at 3.09%. This indicates that WHGMX's price experiences larger fluctuations and is considered to be riskier than FUQIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WHGMX	FUQIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.92%	3.09%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	11.88%	10.38%	+1.50%
Volatility (1Y) Calculated over the trailing 1-year period	15.86%	13.24%	+2.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.75%	17.19%	+1.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.26%	18.26%	+2.00%

WHGMX vs. FUQIX - Expense Ratio Comparison

WHGMX has a 0.88% expense ratio, which is higher than FUQIX's 0.10% expense ratio.

Dividends

WHGMX vs. FUQIX - Dividend Comparison

WHGMX's dividend yield for the trailing twelve months is around 4.47%, more than FUQIX's 3.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FUQIX Fidelity SAI U.S. Quality Index Fund	3.30%	3.63%	12.80%	2.38%	1.42%	8.55%	9.46%	13.68%	2.41%	3.79%	1.57%	0.29%
WHGMX Westwood Quality SMidCap Fund	4.47%	5.19%	1.21%	2.92%	1.52%	16.39%	2.83%	11.93%	19.09%	12.12%	1.40%	7.40%

Frequently Asked Questions

Can I hold both WHGMX and FUQIX in my portfolio?

WHGMX and FUQIX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WHGMX or FUQIX?

WHGMX has higher volatility (3.92%) compared to FUQIX (3.09%). In terms of maximum drawdown, WHGMX dropped -47.99% vs FUQIX's -31.19%.

Which has better risk-adjusted returns?

FUQIX currently has the higher Sharpe Ratio (1.52 vs 1.45), 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.