BPSIX vs. HRTVX

Last updated Jun 4, 2026

BPSIX (Boston Partners Small Cap Value Fund Class I) and HRTVX (Heartland Value Fund) are both Small Cap Value Equities funds. Over the past 10 years, BPSIX returned 9.76%/yr vs 11.89%/yr for HRTVX. Their correlation of 0.90 suggests significant overlap in exposure. BPSIX charges 0.99%/yr vs 1.04%/yr for HRTVX.

Performance

BPSIX vs. HRTVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Boston Partners Small Cap Value Fund Class I (BPSIX) and Heartland Value Fund (HRTVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BPSIX achieves a 11.30% return, which is significantly lower than HRTVX's 20.07% return. Over the past 10 years, BPSIX has underperformed HRTVX with an annualized return of 9.76%, while HRTVX has yielded a comparatively higher 11.89% annualized return.

BPSIX

• 1D: 1.01%
• 1M: 2.51%
• YTD: 11.30%
• 6M: 12.13%
• 1Y: 22.22%
• 3Y*: 16.49%
• 5Y*: 6.84%
• 10Y*: 9.76%

HRTVX

• 1D: 0.94%
• 1M: 2.89%
• YTD: 20.07%
• 6M: 21.31%
• 1Y: 41.37%
• 3Y*: 22.21%
• 5Y*: 11.41%
• 10Y*: 11.89%

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

BPSIX vs. HRTVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BPSIX Boston Partners Small Cap Value Fund Class I	11.30%	7.45%	13.95%	16.98%	-11.48%	25.67%	1.60%	28.06%	-16.42%	9.72%
HRTVX Heartland Value Fund	20.07%	15.94%	15.76%	17.15%	-10.04%	21.86%	13.12%	17.93%	-12.10%	8.45%

Correlation

The correlation between BPSIX and HRTVX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jul 1, 1998	0.90

The correlation between BPSIX and HRTVX has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

Return for Risk

BPSIX vs. HRTVX — Risk / Return Rank

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

BPSIX

BPSIX Risk / Return Rank: 30
BPSIX Sharpe Ratio Rank: 27
BPSIX Sortino Ratio Rank: 30
BPSIX Omega Ratio Rank: 26
BPSIX Calmar Ratio Rank: 36
BPSIX Martin Ratio Rank: 29

HRTVX

HRTVX Risk / Return Rank: 79
HRTVX Sharpe Ratio Rank: 80
HRTVX Sortino Ratio Rank: 77
HRTVX Omega Ratio Rank: 64
HRTVX Calmar Ratio Rank: 90
HRTVX Martin Ratio Rank: 84

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.

BPSIX vs. HRTVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Boston Partners Small Cap Value Fund Class I (BPSIX) and Heartland Value Fund (HRTVX). 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.

	BPSIX	HRTVX	Difference
Sharpe ratio: Return per unit of total volatility	1.49	2.59	-1.10
Sortino ratio: Return per unit of downside risk	2.27	3.69	-1.42
Omega ratio: Gain probability vs. loss probability	1.26	1.45	-0.18
Calmar ratio: Return relative to maximum drawdown	2.28	4.60	-2.32
Martin ratio: Return relative to average drawdown	6.85	15.84	-8.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BPSIX vs. HRTVX - Sharpe Ratio Comparison

The current BPSIX Sharpe Ratio is 1.49, which is lower than the HRTVX Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of BPSIX and HRTVX, 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

	BPSIX	HRTVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	2.59	-1.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.59	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.57	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.59	-0.11

Drawdowns

BPSIX vs. HRTVX - Drawdown Comparison

The maximum BPSIX drawdown since its inception was -62.51%, roughly equal to the maximum HRTVX drawdown of -61.68%. Use the drawdown chart below to compare losses from any high point for BPSIX and HRTVX.

Drawdown Indicators

	BPSIX	HRTVX	Difference
Max Drawdown Largest peak-to-trough decline	-62.51%	-61.68%	-0.83%
Max Drawdown (1Y) Largest decline over 1 year	-10.39%	-9.50%	-0.89%
Max Drawdown (3Y) Largest decline over 3 years	-21.62%	-23.17%	+1.55%
Max Drawdown (5Y) Largest decline over 5 years	-22.01%	-23.17%	+1.16%
Max Drawdown (10Y) Largest decline over 10 years	-47.79%	-46.31%	-1.48%
Current Drawdown Current decline from peak	0.00%	-0.11%	+0.11%
Average Drawdown Average peak-to-trough decline	-9.09%	-9.04%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	2.75%	+0.69%

Volatility

BPSIX vs. HRTVX - Volatility Comparison

The current volatility for Boston Partners Small Cap Value Fund Class I (BPSIX) is 3.98%, while Heartland Value Fund (HRTVX) has a volatility of 4.54%. This indicates that BPSIX experiences smaller price fluctuations and is considered to be less risky than HRTVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPSIX	HRTVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	4.54%	-0.56%
Volatility (6M) Calculated over the trailing 6-month period	10.78%	11.66%	-0.88%
Volatility (1Y) Calculated over the trailing 1-year period	15.87%	16.83%	-0.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.73%	19.50%	+0.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.12%	21.04%	+1.08%

BPSIX vs. HRTVX - Expense Ratio Comparison

BPSIX has a 0.99% expense ratio, which is lower than HRTVX's 1.04% expense ratio.

Dividends

BPSIX vs. HRTVX - Dividend Comparison

BPSIX's dividend yield for the trailing twelve months is around 6.79%, less than HRTVX's 7.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BPSIX Boston Partners Small Cap Value Fund Class I	6.79%	7.56%	14.43%	12.77%	7.64%	7.03%	0.54%	2.42%	6.95%	4.50%	2.22%	5.29%
HRTVX Heartland Value Fund	7.73%	9.29%	8.91%	5.65%	3.01%	13.50%	0.76%	3.12%	7.26%	6.43%	3.56%	8.25%

Frequently Asked Questions

Can I hold both BPSIX and HRTVX in my portfolio?

With a correlation of 0.91, BPSIX and HRTVX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BPSIX or HRTVX?

HRTVX has higher volatility (4.54%) compared to BPSIX (3.98%). In terms of maximum drawdown, BPSIX dropped -62.51% vs HRTVX's -61.68%.

Which has better risk-adjusted returns?

HRTVX currently has the higher Sharpe Ratio (2.59 vs 1.49), 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.