BRSIX vs. HWSAX

Last updated Apr 1, 2026

Compare and contrast key facts about Bridgeway Ultra Small Company Market Fund (BRSIX) and Hotchkis & Wiley Small Cap Value Fund Class A (HWSAX).

BRSIX is managed by Bridgeway. It was launched on Jul 31, 1997. HWSAX is managed by Hotchkis & Wiley. It was launched on Jun 10, 2000.

Performance

BRSIX vs. HWSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bridgeway Ultra Small Company Market Fund (BRSIX) and Hotchkis & Wiley Small Cap Value Fund Class A (HWSAX). The values are adjusted to include any dividend payments, if applicable.

BRSIX vs. HWSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRSIX Bridgeway Ultra Small Company Market Fund	-3.39%	20.09%	14.92%	11.46%	-23.43%	-1.93%	25.50%	15.34%	-17.23%	12.29%
HWSAX Hotchkis & Wiley Small Cap Value Fund Class A	7.13%	1.38%	4.77%	18.56%	2.81%	35.32%	-0.50%	20.26%	-15.23%	7.39%

Returns By Period

In the year-to-date period, BRSIX achieves a -3.39% return, which is significantly lower than HWSAX's 7.13% return. Over the past 10 years, BRSIX has underperformed HWSAX with an annualized return of 6.58%, while HWSAX has yielded a comparatively higher 9.77% annualized return.

BRSIX

• 1D: -1.13%
• 1M: -7.88%
• YTD: -3.39%
• 6M: 4.17%
• 1Y: 40.23%
• 3Y*: 14.23%
• 5Y*: -3.16%
• 10Y*: 6.58%

HWSAX

• 1D: -0.30%
• 1M: -0.14%
• YTD: 7.13%
• 6M: 5.59%
• 1Y: 16.59%
• 3Y*: 9.52%
• 5Y*: 9.01%
• 10Y*: 9.77%

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

BRSIX vs. HWSAX - Expense Ratio Comparison

BRSIX has a 0.78% expense ratio, which is lower than HWSAX's 1.21% expense ratio.

HWSAX

Hotchkis & Wiley Small Cap Value Fund Class A

BRSIX

Bridgeway Ultra Small Company Market Fund

Return for Risk

BRSIX vs. HWSAX — Risk / Return Rank

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

BRSIX

BRSIX Risk / Return Rank: 80
BRSIX Sharpe Ratio Rank: 80
BRSIX Sortino Ratio Rank: 82
BRSIX Omega Ratio Rank: 67
BRSIX Calmar Ratio Rank: 89
BRSIX Martin Ratio Rank: 82

HWSAX

HWSAX Risk / Return Rank: 32
HWSAX Sharpe Ratio Rank: 30
HWSAX Sortino Ratio Rank: 33
HWSAX Omega Ratio Rank: 32
HWSAX Calmar Ratio Rank: 33
HWSAX Martin Ratio Rank: 31

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.

BRSIX vs. HWSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bridgeway Ultra Small Company Market Fund (BRSIX) and Hotchkis & Wiley Small Cap Value Fund Class A (HWSAX). 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.

	BRSIX	HWSAX	Difference
Sharpe ratio Return per unit of total volatility	1.45	0.72	+0.73
Sortino ratio Return per unit of downside risk	2.07	1.15	+0.92
Omega ratio Gain probability vs. loss probability	1.25	1.16	+0.09
Calmar ratio Return relative to maximum drawdown	2.41	0.91	+1.50
Martin ratio Return relative to average drawdown	8.20	3.37	+4.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRSIX vs. HWSAX - Sharpe Ratio Comparison

The current BRSIX Sharpe Ratio is 1.45, which is higher than the HWSAX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of BRSIX and HWSAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BRSIX	HWSAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	0.72	+0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.13	0.42	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.40	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.47	-0.06

Correlation

The correlation between BRSIX and HWSAX is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BRSIX vs. HWSAX - Dividend Comparison

BRSIX's dividend yield for the trailing twelve months is around 1.06%, more than HWSAX's 0.65% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRSIX Bridgeway Ultra Small Company Market Fund	1.06%	1.03%	0.62%	0.89%	2.12%	1.32%	3.46%	1.30%	16.12%	13.71%	8.25%	12.77%
HWSAX Hotchkis & Wiley Small Cap Value Fund Class A	0.65%	0.69%	8.19%	1.79%	13.39%	0.22%	0.63%	4.62%	9.45%	4.80%	0.00%	11.67%

Drawdowns

BRSIX vs. HWSAX - Drawdown Comparison

The maximum BRSIX drawdown since its inception was -61.79%, smaller than the maximum HWSAX drawdown of -72.14%. Use the drawdown chart below to compare losses from any high point for BRSIX and HWSAX.

Drawdown Indicators

	BRSIX	HWSAX	Difference
Max Drawdown Largest peak-to-trough decline	-61.79%	-72.14%	+10.35%
Max Drawdown (1Y) Largest decline over 1 year	-13.57%	-16.44%	+2.87%
Max Drawdown (5Y) Largest decline over 5 years	-53.66%	-26.98%	-26.68%
Max Drawdown (10Y) Largest decline over 10 years	-54.09%	-53.82%	-0.27%
Current Drawdown Current decline from peak	-21.53%	-2.78%	-18.75%
Average Drawdown Average peak-to-trough decline	-15.68%	-11.03%	-4.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.20%	4.43%	-0.23%

Volatility

BRSIX vs. HWSAX - Volatility Comparison

Bridgeway Ultra Small Company Market Fund (BRSIX) has a higher volatility of 7.06% compared to Hotchkis & Wiley Small Cap Value Fund Class A (HWSAX) at 4.15%. This indicates that BRSIX's price experiences larger fluctuations and is considered to be riskier than HWSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRSIX	HWSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.06%	4.15%	+2.91%
Volatility (6M) Calculated over the trailing 6-month period	17.25%	12.90%	+4.35%
Volatility (1Y) Calculated over the trailing 1-year period	26.41%	23.98%	+2.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.41%	21.70%	+2.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.00%	24.64%	-0.64%