ADKSX vs. HWSIX

Last updated Jun 4, 2026

ADKSX (Adirondack Small Cap Fund) and HWSIX (Hotchkis & Wiley Small Cap Value Fund) are both Small Cap Value Equities funds. Over the past 10 years, ADKSX returned 10.66%/yr vs 10.98%/yr for HWSIX. Their correlation of 0.90 suggests significant overlap in exposure. ADKSX charges 1.43%/yr vs 1.06%/yr for HWSIX.

Performance

ADKSX vs. HWSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Adirondack Small Cap Fund (ADKSX) and Hotchkis & Wiley Small Cap Value Fund (HWSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADKSX achieves a 14.26% return, which is significantly lower than HWSIX's 17.70% return. Both investments have delivered pretty close results over the past 10 years, with ADKSX having a 10.66% annualized return and HWSIX not far ahead at 10.98%.

ADKSX

• 1D: 0.69%
• 1M: 3.26%
• YTD: 14.26%
• 6M: 13.70%
• 1Y: 36.85%
• 3Y*: 20.87%
• 5Y*: 12.03%
• 10Y*: 10.66%

HWSIX

• 1D: 1.03%
• 1M: 2.97%
• YTD: 17.70%
• 6M: 15.91%
• 1Y: 28.91%
• 3Y*: 13.09%
• 5Y*: 9.57%
• 10Y*: 10.98%

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

ADKSX vs. HWSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ADKSX Adirondack Small Cap Fund	14.26%	12.58%	19.55%	16.59%	-1.39%	26.11%	6.10%	15.96%	-23.30%	10.62%
HWSIX Hotchkis & Wiley Small Cap Value Fund	17.70%	1.60%	5.00%	18.85%	2.97%	35.54%	-0.31%	20.54%	-15.03%	7.66%

Correlation

The correlation between ADKSX and HWSIX is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Apr 11, 2005	0.90

The correlation between ADKSX and HWSIX shifts across timeframes, from 0.80 (1 year) to 0.90 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ADKSX vs. HWSIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ADKSX

ADKSX Risk / Return Rank: 75
ADKSX Sharpe Ratio Rank: 74
ADKSX Sortino Ratio Rank: 72
ADKSX Omega Ratio Rank: 61
ADKSX Calmar Ratio Rank: 86
ADKSX Martin Ratio Rank: 80

HWSIX

HWSIX Risk / Return Rank: 47
HWSIX Sharpe Ratio Rank: 40
HWSIX Sortino Ratio Rank: 39
HWSIX Omega Ratio Rank: 38
HWSIX Calmar Ratio Rank: 67
HWSIX Martin Ratio Rank: 50

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ADKSX vs. HWSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Adirondack Small Cap Fund (ADKSX) and Hotchkis & Wiley Small Cap Value Fund (HWSIX). 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.

	ADKSX	HWSIX	Difference
Sharpe ratio: Return per unit of total volatility	2.50	1.84	+0.66
Sortino ratio: Return per unit of downside risk	3.53	2.60	+0.93
Omega ratio: Gain probability vs. loss probability	1.43	1.33	+0.10
Calmar ratio: Return relative to maximum drawdown	4.13	3.16	+0.97
Martin ratio: Return relative to average drawdown	15.13	10.38	+4.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ADKSX vs. HWSIX - Sharpe Ratio Comparison

The current ADKSX Sharpe Ratio is 2.50, which is higher than the HWSIX Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of ADKSX and HWSIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ADKSX	HWSIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	1.84	+0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.45	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.45	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.45	0.00

Drawdowns

ADKSX vs. HWSIX - Drawdown Comparison

The maximum ADKSX drawdown since its inception was -61.46%, smaller than the maximum HWSIX drawdown of -72.00%. Use the drawdown chart below to compare losses from any high point for ADKSX and HWSIX.

Drawdown Indicators

	ADKSX	HWSIX	Difference
Max Drawdown Largest peak-to-trough decline	-61.46%	-72.00%	+10.54%
Max Drawdown (1Y) Largest decline over 1 year	-9.28%	-10.01%	+0.73%
Max Drawdown (3Y) Largest decline over 3 years	-22.08%	-26.92%	+4.84%
Max Drawdown (5Y) Largest decline over 5 years	-22.81%	-26.92%	+4.11%
Max Drawdown (10Y) Largest decline over 10 years	-54.81%	-53.67%	-1.14%
Current Drawdown Current decline from peak	-0.89%	0.00%	-0.89%
Average Drawdown Average peak-to-trough decline	-9.12%	-12.08%	+2.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	3.04%	-0.51%

Volatility

ADKSX vs. HWSIX - Volatility Comparison

Adirondack Small Cap Fund (ADKSX) and Hotchkis & Wiley Small Cap Value Fund (HWSIX) have volatilities of 3.87% and 3.77%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADKSX	HWSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	3.77%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	10.13%	11.25%	-1.12%
Volatility (1Y) Calculated over the trailing 1-year period	15.33%	17.23%	-1.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.84%	21.54%	-1.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.00%	24.64%	-2.64%

ADKSX vs. HWSIX - Expense Ratio Comparison

ADKSX has a 1.43% expense ratio, which is higher than HWSIX's 1.06% expense ratio.

Dividends

ADKSX vs. HWSIX - Dividend Comparison

ADKSX's dividend yield for the trailing twelve months is around 7.17%, more than HWSIX's 0.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADKSX Adirondack Small Cap Fund	7.17%	8.20%	0.00%	0.00%	0.00%	0.00%	0.12%	0.28%	15.62%	10.09%	3.18%	3.45%
HWSIX Hotchkis & Wiley Small Cap Value Fund	0.86%	1.01%	8.35%	1.90%	13.44%	0.36%	0.80%	4.89%	9.84%	5.07%	0.41%	11.78%

Frequently Asked Questions

Can I hold both ADKSX and HWSIX in my portfolio?

ADKSX and HWSIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADKSX or HWSIX?

ADKSX has higher volatility (3.87%) compared to HWSIX (3.77%). In terms of maximum drawdown, ADKSX dropped -61.46% vs HWSIX's -72.00%.

Which has better risk-adjusted returns?

ADKSX currently has the higher Sharpe Ratio (2.50 vs 1.84), 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.