BRSIX vs. PCSVX

Last updated Jul 17, 2026

BRSIX (Bridgeway Ultra Small Company Market Fund) and PCSVX (PACE Small/Medium Co Value Equity Investments) are both Small Cap Value Equities funds. Over the past 10 years, BRSIX returned 7.97%/yr vs 8.72%/yr for PCSVX. Their correlation of 0.81 suggests significant overlap in exposure. BRSIX charges 0.78%/yr vs 1.02%/yr for PCSVX.

Performance

BRSIX vs. PCSVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bridgeway Ultra Small Company Market Fund (BRSIX) and PACE Small/Medium Co Value Equity Investments (PCSVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with BRSIX having a 18.03% return and PCSVX slightly lower at 17.67%. Over the past 10 years, BRSIX has underperformed PCSVX with an annualized return of 7.97%, while PCSVX has yielded a comparatively higher 8.72% annualized return.

BRSIX

• 1D: 0.17%
• 1M: 1.34%
• 6M: 10.68%
• YTD: 18.03%
• 1Y: 43.98%
• 3Y*: 19.96%
• 5Y*: 1.14%
• 10Y*: 7.97%

PCSVX

• 1D: 0.39%
• 1M: 1.59%
• 6M: 9.19%
• YTD: 17.67%
• 1Y: 25.32%
• 3Y*: 11.91%
• 5Y*: 6.08%
• 10Y*: 8.72%

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

BRSIX vs. PCSVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRSIX Bridgeway Ultra Small Company Market Fund	18.03%	20.09%	14.92%	11.46%	-23.43%	-1.93%	25.50%	15.34%	-17.23%	12.29%
PCSVX PACE Small/Medium Co Value Equity Investments	17.67%	4.33%	6.24%	12.57%	-13.44%	25.68%	12.13%	25.80%	-16.67%	9.48%

Correlation

The correlation between BRSIX and PCSVX is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jul 31, 1997	0.81

Over the past year, the correlation between BRSIX and PCSVX has dropped to 0.61 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.

Return for Risk

BRSIX vs. PCSVX — Risk / Return Rank

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

BRSIX

BRSIX Risk / Return Rank: 76
BRSIX Sharpe Ratio Rank: 75
BRSIX Sortino Ratio Rank: 69
BRSIX Omega Ratio Rank: 58
BRSIX Calmar Ratio Rank: 93
BRSIX Martin Ratio Rank: 84

PCSVX

PCSVX Risk / Return Rank: 63
PCSVX Sharpe Ratio Rank: 58
PCSVX Sortino Ratio Rank: 70
PCSVX Omega Ratio Rank: 53
PCSVX Calmar Ratio Rank: 78
PCSVX Martin Ratio Rank: 54

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. PCSVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bridgeway Ultra Small Company Market Fund (BRSIX) and PACE Small/Medium Co Value Equity Investments (PCSVX). 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.

	BRSIX	PCSVX	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.73	+0.22
Sortino ratio: Return per unit of downside risk	2.64	2.67	-0.03
Omega ratio: Gain probability vs. loss probability	1.32	1.31	+0.01
Calmar ratio: Return relative to maximum drawdown	4.03	2.90	+1.13
Martin ratio: Return relative to average drawdown	11.93	8.79	+3.13

BRSIX vs. PCSVX - Sharpe Ratio Comparison

The current BRSIX Sharpe Ratio is 1.95, which is comparable to the PCSVX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of BRSIX and PCSVX, 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

BRSIX vs. PCSVX - Drawdown Comparison

The maximum BRSIX drawdown since its inception was -61.79%, roughly equal to the maximum PCSVX drawdown of -62.95%. Use the drawdown chart below to compare losses from any high point for BRSIX and PCSVX.

Drawdown Indicators

	BRSIX	PCSVX	Difference
Max Drawdown Largest peak-to-trough decline	-61.79%	-62.95%	+1.16%
Max Drawdown (1Y) Largest decline over 1 year	-11.46%	-9.67%	-1.79%
Max Drawdown (3Y) Largest decline over 3 years	-30.80%	-34.96%	+4.16%
Max Drawdown (5Y) Largest decline over 5 years	-52.26%	-34.96%	-17.30%
Max Drawdown (10Y) Largest decline over 10 years	-54.09%	-46.65%	-7.44%
Current Drawdown Current decline from peak	-4.38%	-0.49%	-3.89%
Average Drawdown Average peak-to-trough decline	-15.59%	-10.55%	-5.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.86%	3.10%	+0.76%

Volatility

BRSIX vs. PCSVX - Volatility Comparison

Bridgeway Ultra Small Company Market Fund (BRSIX) has a higher volatility of 5.21% compared to PACE Small/Medium Co Value Equity Investments (PCSVX) at 3.26%. This indicates that BRSIX's price experiences larger fluctuations and is considered to be riskier than PCSVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRSIX	PCSVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	3.26%	+1.95%
Volatility (6M) Calculated over the trailing 6-month period	16.34%	11.57%	+4.77%
Volatility (1Y) Calculated over the trailing 1-year period	23.80%	16.34%	+7.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.59%	22.32%	+2.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.17%	22.88%	+1.29%

BRSIX vs. PCSVX - Expense Ratio Comparison

BRSIX has a 0.78% expense ratio, which is lower than PCSVX's 1.02% expense ratio.

Dividends

BRSIX vs. PCSVX - Dividend Comparison

BRSIX's dividend yield for the trailing twelve months is around 0.87%, less than PCSVX's 3.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRSIX Bridgeway Ultra Small Company Market Fund	0.87%	1.03%	0.62%	0.89%	2.12%	1.32%	3.46%	1.30%	16.12%	13.71%	8.25%	12.77%
PCSVX PACE Small/Medium Co Value Equity Investments	3.01%	3.54%	18.45%	0.69%	22.49%	16.23%	0.61%	0.83%	7.14%	11.82%	2.62%	11.87%

Frequently Asked Questions

Can I hold both BRSIX and PCSVX in my portfolio?

BRSIX and PCSVX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BRSIX or PCSVX?

BRSIX has higher volatility (5.21%) compared to PCSVX (3.26%). In terms of maximum drawdown, BRSIX dropped -61.79% vs PCSVX's -62.95%.

Which has better risk-adjusted returns?

BRSIX currently has the higher Sharpe Ratio (1.95 vs 1.73), 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.