- ISIN
- US4223525001
- CUSIP
- 422352500
- Issuer
- Heartland
- Inception Date
- Oct 26, 1993
- Category
- Small Cap Value Equities
- Min. Investment
- $1,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
HRVIX Performance Chart
Heartland Value Plus Fund (HRVIX) is up 22.8% since the beginning of the year. HRVIX is currently trading at $44 per share. Investors who bought $1,000 worth of HRVIX shares 5 years ago would now be looking at an investment worth $1,199.
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Returns By Period
Heartland Value Plus Fund (HRVIX) has returned 22.76% so far this year and 34.70% over the past 12 months. Over the last ten years, HRVIX has returned 9.98% per year, falling short of the S&P 500 Index benchmark, which averaged 13.71% annually.
Heartland Value Plus Fund
- 1D
- 0.80%
- 1M
- 4.35%
- YTD
- 22.76%
- 6M
- 20.88%
- 1Y
- 34.70%
- 3Y*
- 9.08%
- 5Y*
- 3.69%
- 10Y*
- 9.98%
Benchmark (S&P 500 Index)
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
HRVIX Monthly Returns History
Based on dividend-adjusted daily data since Oct 26, 1993, HRVIX's average daily return is +0.04%, while the average monthly return is +0.88%. At this rate, an investment would double in approximately 6.6 years.
Historically, 62% of months were positive and 38% were negative. The best month was Nov 2020 with a return of +18.1%, while the worst month was Oct 2008 at -16.4%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 5 months.
On a daily basis, HRVIX closed higher 51% of trading days. The best single day was Oct 13, 2008 with a return of +8.5%, while the worst single day was Mar 18, 2020 at -10.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 7.34% | 5.00% | -6.88% | 9.66% | 2.32% | 4.25% | 22.76% | ||||||
| 2025 | 2.79% | -4.51% | -6.51% | -6.02% | 4.21% | 4.01% | 2.66% | 6.84% | -1.06% | -2.75% | 2.89% | -0.41% | 1.06% |
| 2024 | -5.29% | 2.11% | 5.00% | -7.40% | 2.70% | -2.60% | 9.36% | -1.71% | 0.40% | -1.60% | 9.55% | -8.87% | -0.28% |
| 2023 | 6.59% | -1.37% | -4.57% | -3.05% | -3.57% | 6.91% | 3.49% | -3.24% | -5.21% | -5.02% | 3.27% | 9.08% | 1.83% |
| 2022 | -5.12% | -0.29% | 1.57% | -6.61% | 4.02% | -5.26% | 6.07% | -4.59% | -8.70% | 14.00% | 5.01% | -2.86% | -4.99% |
| 2021 | 3.31% | 11.82% | 4.36% | 2.79% | 3.51% | -2.92% | -2.48% | 1.04% | -1.98% | 1.68% | -4.11% | 6.50% | 24.89% |
Benchmark Metrics
Heartland Value Plus Fund has an annualized alpha of 2.49%, beta of 0.84, and R2 of 0.62 versus S&P 500 Index. Calculated based on daily prices since October 26, 1993.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (93.91%) than losses (90.93%) - typical of diversified or defensive assets.
- This fund generated an annualized alpha of 2.49% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Alpha
- 2.49%
- Beta
- 0.84
- R²
- 0.62
- Upside Capture
- 93.91%
- Downside Capture
- 90.93%
Expense Ratio
HRVIX has a high expense ratio of 1.15%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
HRVIX ranks 59 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Heartland Value Plus Fund (HRVIX) 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.
| HRVIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.32 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.04 | 2.46 | +0.59 |
| Martin ratioReturn relative to average drawdown | 10.09 | 10.92 | -0.83 |
Dividends
Dividend History
Heartland Value Plus Fund provided a 0.51% dividend yield over the last twelve months, with an annual payout of $0.22 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.22 | $0.22 | $1.08 | $0.53 | $0.83 | $9.72 | $0.41 | $0.52 | $0.32 | $0.05 | $0.20 | $2.12 |
Dividend yield | 0.51% | 0.62% | 3.00% | 1.43% | 2.25% | 24.50% | 1.03% | 1.47% | 1.13% | 0.14% | 0.65% | 8.78% |
Monthly Dividends
The table displays the monthly dividend distributions for Heartland Value Plus 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 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.22 | $0.22 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.08 | $1.08 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.53 | $0.53 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.83 | $0.83 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $9.72 | $9.72 |
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 Heartland Value Plus 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 Heartland Value Plus Fund was 46.82%, occurring on Mar 9, 2009. Recovery took 270 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -46.82%Mar 2009 | 8mo 22d | 1y 27d | 1y 9moJun 2008 - Apr 2010 |
COVID crash2020 | -36.47%Mar 2020 | 1y 6mo | 7mo 29d | 2y 2moAug 2018 - Nov 2020 |
2016 bear market2016 | -33.03%Feb 2016 | 1y 7mo | 1y 7mo | 3y 2moJul 2014 - Oct 2017 |
2011 bear market2011 | -28.69%Oct 2011 | 2mo 27d | 1y 3mo | 1y 6moJul 2011 - Jan 2013 |
2025 selloff2025 | -28.50%Apr 2025 | 4mo 13d | 9mo 18d | 1y 1moNov 2024 - Jan 2026 |
Drawdown Indicators
| HRVIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.82% | -56.78% | +9.96% |
Max Drawdown (1Y)Largest decline over 1 year | -11.97% | -9.10% | -2.87% |
Max Drawdown (3Y)Largest decline over 3 years | -28.50% | -18.90% | -9.60% |
Max Drawdown (5Y)Largest decline over 5 years | -28.50% | -25.43% | -3.07% |
Max Drawdown (10Y)Largest decline over 10 years | -36.47% | -33.92% | -2.55% |
Current DrawdownCurrent decline from peak | 0.00% | -3.21% | +3.21% |
Average DrawdownAverage peak-to-trough decline | -8.60% | -10.71% | +2.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.60% | 2.04% | +1.56% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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