ASVIX vs. PMJAX

Last updated Aug 2, 2026

ASVIX (American Century Small Cap Value Fund) and PMJAX (PIMCO RAE US Small Fund Class A) are both Small Cap Value Equities funds. Over the past 10 years, ASVIX returned 10.48%/yr vs 12.88%/yr for PMJAX. Their correlation of 0.92 means they have usually moved in the same direction. ASVIX charges 1.09%/yr vs 0.90%/yr for PMJAX.

Performance

ASVIX vs. PMJAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Small Cap Value Fund (ASVIX) and PIMCO RAE US Small Fund Class A (PMJAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASVIX achieves a 21.83% return, which is significantly higher than PMJAX's 20.20% return. Over the past 10 years, ASVIX has underperformed PMJAX with an annualized return of 10.48%, while PMJAX has yielded a comparatively higher 12.88% annualized return.

ASVIX

• 1D: -0.19%
• 1M: 1.70%
• 6M: 15.19%
• YTD: 21.83%
• 1Y: 26.94%
• 3Y*: 8.85%
• 5Y*: 5.82%
• 10Y*: 10.48%
• ALL TIME*: 10.77%

PMJAX

• 1D: 0.15%
• 1M: 0.45%
• 6M: 16.52%
• YTD: 20.20%
• 1Y: 35.79%
• 3Y*: 17.44%
• 5Y*: 12.58%
• 10Y*: 12.88%
• ALL TIME*: 13.40%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ASVIX American Century Small Cap Value Fund	$0.00	$0.00	$0.00
PMJAX PIMCO RAE US Small Fund Class A	$0.00	$0.00	$0.00

ASVIX vs. PMJAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASVIX American Century Small Cap Value Fund	21.83%	-3.39%	7.12%	16.09%	-14.48%	37.20%	8.94%	33.51%	-16.99%	10.31%
PMJAX PIMCO RAE US Small Fund Class A	20.20%	4.89%	20.53%	19.76%	-5.07%	38.48%	6.52%	19.76%	-12.02%	8.76%

Correlation

The correlation between ASVIX and PMJAX is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (10Y) Provides a long-term view across more market conditions.	0.92
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.92

The correlation between ASVIX and PMJAX has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.

Return for Risk

ASVIX vs. PMJAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ASVIX

ASVIX Risk / Return Rank: 49
ASVIX Sharpe Ratio Rank: 50
ASVIX Sortino Ratio Rank: 56
ASVIX Omega Ratio Rank: 48
ASVIX Calmar Ratio Rank: 54
ASVIX Martin Ratio Rank: 37

PMJAX

PMJAX Risk / Return Rank: 84
PMJAX Sharpe Ratio Rank: 80
PMJAX Sortino Ratio Rank: 79
PMJAX Omega Ratio Rank: 73
PMJAX Calmar Ratio Rank: 95
PMJAX Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ASVIX vs. PMJAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Small Cap Value Fund (ASVIX) and PIMCO RAE US Small Fund Class A (PMJAX). 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.

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.

	ASVIX	PMJAX	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.94	-0.61
Sortino ratio: Return per unit of downside risk	2.02	2.79	-0.77
Omega ratio: Gain probability vs. loss probability	1.24	1.33	-0.09
Calmar ratio: Return relative to maximum drawdown	1.91	4.23	-2.33
Martin ratio: Return relative to average drawdown	5.30	13.04	-7.74

ASVIX vs. PMJAX - Sharpe Ratio Comparison

The current ASVIX Sharpe Ratio is 1.33, which is lower than the PMJAX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of ASVIX and PMJAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ASVIX vs. PMJAX - Drawdown Comparison

The maximum ASVIX drawdown since its inception was -55.10%, which is greater than PMJAX's maximum drawdown of -50.53%. Use the drawdown chart below to compare losses from any high point for ASVIX and PMJAX.

Drawdown Indicators

	ASVIX	PMJAX	Difference
Max Drawdown Largest peak-to-trough decline	-55.10%	-50.53%	-4.57%
Max Drawdown (1Y) Largest decline over 1 year	-12.23%	-7.66%	-4.57%
Max Drawdown (3Y) Largest decline over 3 years	-27.25%	-26.72%	-0.53%
Max Drawdown (5Y) Largest decline over 5 years	-27.25%	-50.53%	+23.28%
Max Drawdown (10Y) Largest decline over 10 years	-43.50%	-50.53%	+7.03%
Current Drawdown Current decline from peak	-1.46%	-1.33%	-0.13%
Average Drawdown Average peak-to-trough decline	-7.89%	-16.79%	+8.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.40%	2.51%	+1.89%

Volatility

ASVIX vs. PMJAX - Volatility Comparison

American Century Small Cap Value Fund (ASVIX) has a higher volatility of 4.00% compared to PIMCO RAE US Small Fund Class A (PMJAX) at 3.26%. This indicates that ASVIX's price experiences larger fluctuations and is considered to be riskier than PMJAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASVIX	PMJAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	3.26%	+0.74%
Volatility (6M) Calculated over the trailing 6-month period	11.42%	11.22%	+0.20%
Volatility (1Y) Calculated over the trailing 1-year period	17.64%	16.82%	+0.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.79%	40.06%	-18.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.23%	33.51%	-10.28%

ASVIX vs. PMJAX - Expense Ratio Comparison

ASVIX has a 1.09% expense ratio, which is higher than PMJAX's 0.90% expense ratio.

Dividends

ASVIX vs. PMJAX - Dividend Comparison

ASVIX's dividend yield for the trailing twelve months is around 11.26%, more than PMJAX's 2.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASVIX American Century Small Cap Value Fund	11.26%	14.08%	6.96%	1.00%	3.86%	7.32%	0.35%	2.41%	20.02%	14.39%	5.29%	14.05%
PMJAX PIMCO RAE US Small Fund Class A	2.75%	3.31%	2.48%	1.40%	10.08%	67.74%	9.44%	1.37%	7.72%	4.51%	1.16%	0.00%

Frequently Asked Questions

Can I hold both ASVIX and PMJAX in my portfolio?

ASVIX and PMJAX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASVIX or PMJAX?

ASVIX has higher volatility (4.00%) compared to PMJAX (3.26%). In terms of maximum drawdown, ASVIX dropped -55.10% vs PMJAX's -50.53%.

Which has better risk-adjusted returns?

PMJAX currently has the higher Sharpe Ratio (1.94 vs 1.33), 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.