Fund Evaluator:
FullerThaler Behavioral Sm-Cp Gr Inv (FTXNX)
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Best Performing in Small Growth Over the Last Year
| 78.1% | Oberweis Micro-Cap (OBMCX) |
| 72.6% | Emerald Growth Investor (FFGRX) |
| 70.7% | FullerThaler Behavioral Sm-Cp Gr Inv (FTXNX) |
| 70.1% | Hood River New Opportunities Investor (HRNIX) |
| 61.1% | Carillon Chartwell Small Cap I (UMBHX) |
Fund Details
FullerThaler Behavioral Sm-Cp Gr Inv Overview
FullerThaler Behavioral Sm-Cp Gr Inv (FTXNX) is an actively managed U.S. Equity Small Growth fund. FullerThaler launched the fund in 2017.
The investment seeks long-term capital appreciation. The fund seeks to achieve its objective by investing at least 80% of its net assets (plus borrowings for investment purposes) in common stocks of small capitalization ("small-cap") companies based in the U.S. ("80% Policy"). It may invest a portion of its assets in real estate investment trusts ("REITs").
About FullerThaler Behavioral Sm-Cp Gr Inv (FTXNX)
There are 2 members of the management team with an average tenure of 8.53 years: Raymond Lin (2017), Frederick Stanske, CFA (2017). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 1000 Equal Weight TR USD index with a weighting of 100% and Russell 2000 Growth TR USD index with a weighting of 100%. FullerThaler Behavioral Sm-Cp Gr Inv has 74 securities in its portfolio. The top 10 holdings constitute 35.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
FullerThaler Behavioral Sm-Cp Gr Inv is part of the Equity global asset class and is within the U.S. Equity fund group. FullerThaler Behavioral Sm-Cp Gr Inv has 1.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 94.7%. There is 1.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). FullerThaler Behavioral Sm-Cp Gr Inv has 4.3% of the portfolio in cash.
Assets Under Management
The fund has $105 million in total assets, which is below the $454 million average for the Small Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FTXNX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The FullerThaler Behavioral Sm-Cp Gr Inv expense ratio is high compared to funds in the Small Growth category. FullerThaler Behavioral Sm-Cp Gr Inv has an expense ratio of 1.36%, which is 16% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. FullerThaler Behavioral Sm-Cp Gr Inv has a portfolio turnover rate of 99%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 76% for the Small Growth category.
Recently, in the month of June 2026, FullerThaler Behavioral Sm-Cp Gr Inv returned 8.1%, which earned it a grade of A, as the Small Growth category had an average return of 6.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
FullerThaler Behavioral Sm-Cp Gr Inv has a trailing yield of 0.00%, which is below the 0.07% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
FullerThaler Behavioral Sm-Cp Gr Inv Grades
Year to date, the fund has returned 43.1%, 21.0 percentage points better than the category, which translates into a grade of A. The fund has returned 70.7% over the past year (grade of A), 31.6% over the past three years (grade of A) and 15.7% per year over the past five years (grade of A).
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FTXNX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FTXNX Return (NAV) | 8.1% | 40.5% | 70.7% | 31.6% | 15.7% | na |
| FTXNX Grade | A | A | A | A | A | na |
| +/- Category | 1.7% | 15.8% | 37.0% | 15.2% | 11.0% | na |
| Small Growth Avg | 6.5% | 24.7% | 33.7% | 16.4% | 4.6% | 12.5% |
| FTXNX Tax Cost Ratio | na | na | 0.0% | 0.0% | 1.1% | na |
FTXNX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FTXNX Return (NAV) | 43.1% | 12.1% | 28.5% | 32.8% | -27.7% | 24.4% | 51.0% | 18.8% | 0.7% | na | na |
| FTXNX Grade | A | B | A | A | C | A | B | F | A | na | na |
| +/- Category | 21.0% | 4.1% | 13.0% | 16.0% | 0.3% | 13.9% | 9.1% | -11.0% | 4.8% | na | na |
| Small Growth Avg | 22.1% | 8.0% | 15.5% | 16.7% | -27.9% | 10.5% | 41.8% | 29.9% | -4.1% | 24.1% | 10.2% |
| Risk Measures | |
| Standard Deviation: | 24.5% |
| Total Risk Index: | 2.02 - High |
| Category Risk Index: | 1.23 - High |
| Category Risk Grade: | F (97% Rank) |
| Beta: | 1.61 |
| R-Squared: | 73% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $5142 Mil |
| Fund Total Assets: | $ 106 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 99% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 8.5 years | |||
| Average Tenure: 8.5 years | |||
| Managers (Year): Lin Raymond (2017), Stanske, CFA Frederick (2017) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 74 |
| % in Top 10 Holdings: | 35.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.1% |
Portfolio Allocation |
|
| Domestic Stock: | 94.7% |
| Foreign Stock: | 1.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 4.3% |
Purchase Information
| Fund Family: | FullerThaler |
| Phone Number: | 888-912-4562 |
| Website: |
| Status: | Open |
| Inception Date: | December 21, 2017 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.36% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.18% |
| Share Class: | FullerThaler Behavioral Sm-Cp Gr R6 |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
