- ISIN
- US14949P8023
- CUSIP
- 14949P802
- Issuer
- Causeway
- Inception Date
- Oct 19, 2014
- Category
- Foreign Small & Mid Cap Equities
- Min. Investment
- $5,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
CVISX Performance Chart
Causeway International Small Cap Fund (CVISX) is up 16.2% since the beginning of the year. CVISX is currently trading at $18 per share. Investors who bought $1,000 worth of CVISX shares 5 years ago would now be looking at an investment worth $1,926.
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Returns By Period
Causeway International Small Cap Fund (CVISX) has returned 16.21% so far this year and 28.48% over the past 12 months. Over the last ten years, CVISX has returned 11.28% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
Causeway International Small Cap Fund
- 1D
- 2.53%
- 1M
- 4.63%
- 6M
- 7.27%
- YTD
- 16.21%
- 1Y
- 28.48%
- 3Y*
- 20.90%
- 5Y*
- 14.01%
- 10Y*
- 11.28%
- ALL TIME*
- 10.61%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
CVISX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2015, CVISX's average daily return is +0.05%, while the average monthly return is +0.96%. At this rate, an investment would double in approximately 6.0 years.
Historically, 63% of months were positive and 37% were negative. The best month was Nov 2022 with a return of +11.0%, while the worst month was Mar 2020 at -21.2%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 5 months.
On a daily basis, CVISX closed higher 52% of trading days. The best single day was Dec 20, 2024 with a return of +9.9%, while the worst single day was Mar 12, 2020 at -11.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 8.33% | 7.69% | -8.93% | 7.05% | 2.40% | -5.42% | 5.50% | 16.21% | |||||
| 2025 | 1.04% | 0.51% | 0.66% | 2.68% | 9.32% | 5.81% | -0.55% | 3.62% | 1.60% | -0.47% | 1.99% | 3.00% | 32.93% |
| 2024 | 1.18% | 1.82% | 3.42% | -0.97% | 3.62% | -1.21% | 2.99% | 0.92% | 2.55% | -3.45% | 0.79% | -2.09% | 9.71% |
| 2023 | 6.75% | -3.12% | 0.34% | 2.11% | -1.82% | 7.50% | 8.70% | -3.10% | -1.26% | -5.05% | 8.97% | 5.33% | 26.74% |
| 2022 | -2.19% | 0.15% | 1.69% | -5.08% | 1.20% | -13.56% | 6.11% | -1.81% | -10.95% | 3.93% | 10.97% | -0.04% | -11.51% |
| 2021 | 0.97% | 5.16% | 5.57% | 6.15% | 1.41% | 1.32% | -2.10% | 0.59% | -3.82% | 1.14% | -3.62% | 7.45% | 21.30% |
Benchmark Metrics
Causeway International Small Cap Fund has an annualized alpha of 3.02%, beta of 0.68, and R2 of 0.52 versus S&P 500 Index. Calculated based on daily prices since January 02, 2015.
- This fund participated in 84.78% of S&P 500 Index downside but only 83.27% of its upside - more exposed to losses than it benefited from rallies.
- This fund generated an annualized alpha of 3.02% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.68 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 3.02%
- Beta
- 0.68
- R²
- 0.52
- Upside Capture
- 83.27%
- Downside Capture
- 84.78%
Expense Ratio
CVISX has a high expense ratio of 1.35%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
CVISX ranks 73 for risk / return — above 73% of mutual funds peers on PortfoliosLab. Its historical combined result is above most peers.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Causeway International Small Cap Fund (CVISX) and compare them to S&P 500 Index.
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.
| CVISX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.25 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 2.00 | +0.61 |
| Martin ratioReturn relative to average drawdown | 8.47 | 8.49 | -0.02 |
Dividends
Dividend History
Causeway International Small Cap Fund provided a 14.25% dividend yield over the last twelve months, with an annual payout of $2.54 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $2.54 | $2.54 | $1.43 | $0.84 | $0.31 | $0.46 | $0.39 | $0.41 | $0.29 | $1.08 | $0.29 | $0.21 |
Dividend yield | 14.25% | 16.56% | 10.60% | 6.14% | 2.75% | 3.48% | 3.42% | 3.57% | 2.91% | 8.23% | 2.78% | 2.00% |
Monthly Dividends
The table displays the monthly dividend distributions for Causeway International Small Cap Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.54 | $2.54 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.43 | $1.43 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.84 | $0.84 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.31 | $0.31 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.46 | $0.46 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Causeway International Small Cap Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Causeway International Small Cap Fund was 48.50%, occurring on Mar 23, 2020. Recovery took 259 trading sessions.
The current Causeway International Small Cap Fund drawdown is 0.39%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-48.50%Mar 2020 | 2y 1mo | 1y 9d | 3y 2moJan 2018 - Apr 2021 | COVID crash2020 |
-25.20%Sep 2022 | 8mo 19d | 9mo 16d | 1y 6moJan 2022 - Jul 2023 | Bear market2022 |
-20.91%Jan 2016 | 8mo 7d | 1y 1mo | 1y 10moMay 2015 - Mar 2017 | — |
-15.17%Apr 2025 | 3mo 15d | 1mo 6d | 4mo 21dDec 2024 - May 2025 | 2025 selloff2025 |
-10.77%Mar 2026 | 28d | — | 5mo 3dMar 2026 - now | — |
Drawdown Indicators
| CVISX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.50% | -56.78% | +8.28% |
Max Drawdown (1Y)Largest decline over 1 year | -10.77% | -9.10% | -1.67% |
Max Drawdown (3Y)Largest decline over 3 years | -15.17% | -18.90% | +3.73% |
Max Drawdown (5Y)Largest decline over 5 years | -25.20% | -25.43% | +0.23% |
Max Drawdown (10Y)Largest decline over 10 years | -48.50% | -33.92% | -14.58% |
Current DrawdownCurrent decline from peak | -0.39% | -1.58% | +1.19% |
Average DrawdownAverage peak-to-trough decline | -8.81% | -10.70% | +1.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 2.14% | +1.17% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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