FTMSX Performance — FullerThaler Behavioral Micro-Cap Equity Fund, Institutional Shares
Data updated: 2026-08-28
FTMSX returned +33.67% year to date and +44.68% over one year to Jun 2026. Annualised returns are +13.01% over 3 years and +0.82% over 5 years. Against its US Small Blend category average the fund came out behind over three years but ahead over one: $100 invested three years ago grew to $144, against $156 for the category, and to $145 over one year, against $133. Volatility over the past three years was 26.27% a year. In the 12 months to Jun 2026 the fund took in a net $811K, and assets reached $30.28M.
FTMSX Growth of $100
What $100 invested in FullerThaler Behavioral Micro-Cap Equity Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Small Blend category average over the same months.
| Period | FTMSX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $145 | $133 |
| 3 years (Jul 2023 – Jun 2026) | $144 | $156 |
| 5 years (Jul 2021 – Jun 2026) | $104 | $141 |
| Since data start (Jan 2020 – Jun 2026) | $310 | $197 |
FTMSX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +33.67% |
| 1 year | +44.68% |
| 3 years (annualised) | +13.01% |
| 5 years (annualised) | +0.82% |
FTMSX Annual Returns
Calendar-year total returns of FullerThaler Behavioral Micro-Cap Equity Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +33.67% |
| 2025 | +0.30% |
| 2024 | +3.87% |
| 2023 | +13.11% |
| 2022 | −31.07% |
| 2021 | +37.13% |
| 2020 | +108.22% |
FTMSX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +5.5% | −0.3% | −5.3% | +12.6% | +8.4% | +10.0% | — | — | — | — | — | — |
| 2025 | +2.9% | −7.9% | −13.6% | −6.7% | +12.6% | +7.9% | −0.7% | +8.6% | +3.5% | −0.7% | −3.1% | +0.8% |
| 2024 | −6.5% | +2.4% | +4.0% | −8.8% | +10.9% | −4.6% | +9.1% | −7.7% | −0.9% | −3.0% | +15.6% | −3.3% |
| 2023 | +14.9% | −6.3% | −5.8% | −5.2% | −0.5% | +14.1% | +7.2% | −5.0% | −6.0% | −8.3% | +4.1% | +13.4% |
| 2022 | −8.3% | +2.0% | +2.6% | −11.1% | −2.2% | −15.0% | +11.4% | −2.3% | −15.5% | +13.0% | −0.4% | −6.1% |
| 2021 | +11.9% | +11.2% | +4.4% | +3.3% | +7.2% | −0.6% | −5.9% | −0.2% | −2.1% | +3.8% | −2.3% | +3.0% |
| 2020 | −0.1% | −0.1% | −0.3% | +18.6% | +3.5% | +3.9% | +6.5% | +7.8% | −3.5% | +2.5% | +25.9% | +14.7% |
FTMSX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 26.27%
- 3-year Sharpe ratio: 0.32 (vs 4.5% risk-free rate)
- Best month: +15.63% (Nov 2024)
- Worst month: −13.64% (Mar 2025)
FTMSX Fund Flows
Monthly money in and out of FullerThaler Behavioral Micro-Cap Equity Fund, from SEC Form N-PORT.
- 12-month net flow: $811K
- 12-month gross sales (incl. reinvestments): $11.9M
- Sales ÷ redemptions: 1.07×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $2.4M | $1.6M | $781K |
| May 2026 | $1.5M | $1.8M | −$267K |
| Apr 2026 | $1.4M | $1.4M | $63K |
| Mar 2026 | $103K | $4K | $99K |
| Feb 2026 | $54K | $25K | $29K |
| Jan 2026 | $1.1M | $184K | $947K |
| Dec 2025 | $127K | $128K | −$1K |
| Nov 2025 | $85K | $73K | $12K |
| Oct 2025 | $45K | $177K | −$132K |
| Sep 2025 | $1.9M | $2.5M | −$524K |
| Aug 2025 | $1.6M | $2.0M | −$389K |
| Jul 2025 | $1.5M | $1.3M | $192K |
FTMSX Assets Under Management
Net assets of FullerThaler Behavioral Micro-Cap Equity Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $30.28M |
| 2026-03-31 | $22.06M |
| 2025-12-31 | $21.14M |
| 2025-09-30 | $21.91M |
| 2025-06-30 | $20.30M |
| 2025-03-31 | $17.78M |
| 2024-12-31 | $20.46M |
| 2024-09-30 | $19.05M |
| 2024-06-30 | $19.54M |
| 2024-03-31 | $19.79M |
| 2023-12-31 | $20.03M |
| 2023-09-30 | $18.06M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.