BRSVX vs. VSMVX

Last updated Jun 24, 2026

BRSVX (Bridgeway Small Cap Value Fund) and VSMVX (Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares) are both Small Cap Value Equities funds. Over the past 10 years, BRSVX returned 12.58%/yr vs 10.71%/yr for VSMVX. With a 0.96 correlation, they move nearly in lockstep. BRSVX charges 0.83%/yr vs 0.08%/yr for VSMVX.

Performance

BRSVX vs. VSMVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bridgeway Small Cap Value Fund (BRSVX) and Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares (VSMVX). 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 BRSVX having a 18.67% return and VSMVX slightly lower at 17.74%. Over the past 10 years, BRSVX has outperformed VSMVX with an annualized return of 12.58%, while VSMVX has yielded a comparatively lower 10.71% annualized return.

BRSVX

• 1D: 0.53%
• 1M: 4.02%
• YTD: 18.67%
• 6M: 16.77%
• 1Y: 35.60%
• 3Y*: 12.49%
• 5Y*: 7.39%
• 10Y*: 12.58%

VSMVX

• 1D: -0.23%
• 1M: 3.22%
• YTD: 17.74%
• 6M: 16.42%
• 1Y: 38.16%
• 3Y*: 15.49%
• 5Y*: 6.61%
• 10Y*: 10.71%

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

BRSVX vs. VSMVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRSVX Bridgeway Small Cap Value Fund	18.67%	5.51%	-0.22%	14.20%	-7.76%	67.87%	12.04%	15.00%	-13.09%	7.09%
VSMVX Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares	17.74%	6.38%	7.53%	14.85%	-11.12%	30.85%	2.79%	24.47%	-12.67%	11.64%

Correlation

The correlation between BRSVX and VSMVX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 17, 2012	0.96

The correlation between BRSVX and VSMVX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

BRSVX vs. VSMVX — Risk / Return Rank

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

BRSVX

BRSVX Risk / Return Rank: 67
BRSVX Sharpe Ratio Rank: 59
BRSVX Sortino Ratio Rank: 63
BRSVX Omega Ratio Rank: 52
BRSVX Calmar Ratio Rank: 89
BRSVX Martin Ratio Rank: 71

VSMVX

VSMVX Risk / Return Rank: 71
VSMVX Sharpe Ratio Rank: 65
VSMVX Sortino Ratio Rank: 67
VSMVX Omega Ratio Rank: 54
VSMVX Calmar Ratio Rank: 90
VSMVX Martin Ratio Rank: 82

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.

BRSVX vs. VSMVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bridgeway Small Cap Value Fund (BRSVX) and Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares (VSMVX). 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.

	BRSVX	VSMVX	Difference
Sharpe ratio: Return per unit of total volatility	2.08	2.17	-0.09
Sortino ratio: Return per unit of downside risk	3.03	3.09	-0.07
Omega ratio: Gain probability vs. loss probability	1.37	1.37	0.00
Calmar ratio: Return relative to maximum drawdown	4.24	4.28	-0.05
Martin ratio: Return relative to average drawdown	12.80	14.20	-1.41

BRSVX vs. VSMVX - Sharpe Ratio Comparison

The current BRSVX Sharpe Ratio is 2.08, which is comparable to the VSMVX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of BRSVX and VSMVX, 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

BRSVX vs. VSMVX - Drawdown Comparison

The maximum BRSVX drawdown since its inception was -67.58%, which is greater than VSMVX's maximum drawdown of -47.61%. Use the drawdown chart below to compare losses from any high point for BRSVX and VSMVX.

Drawdown Indicators

	BRSVX	VSMVX	Difference
Max Drawdown Largest peak-to-trough decline	-67.58%	-47.61%	-19.97%
Max Drawdown (1Y) Largest decline over 1 year	-9.11%	-9.33%	+0.22%
Max Drawdown (3Y) Largest decline over 3 years	-30.52%	-28.81%	-1.71%
Max Drawdown (5Y) Largest decline over 5 years	-30.52%	-28.81%	-1.71%
Max Drawdown (10Y) Largest decline over 10 years	-51.67%	-47.61%	-4.06%
Current Drawdown Current decline from peak	-0.20%	-1.37%	+1.17%
Average Drawdown Average peak-to-trough decline	-13.62%	-7.62%	-6.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	2.81%	+0.20%

Volatility

BRSVX vs. VSMVX - Volatility Comparison

Bridgeway Small Cap Value Fund (BRSVX) and Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares (VSMVX) have volatilities of 4.91% and 4.80%, 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

	BRSVX	VSMVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.91%	4.80%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	13.17%	11.86%	+1.31%
Volatility (1Y) Calculated over the trailing 1-year period	18.58%	18.42%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.10%	21.97%	+0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.26%	24.15%	+0.11%

BRSVX vs. VSMVX - Expense Ratio Comparison

BRSVX has a 0.83% expense ratio, which is higher than VSMVX's 0.08% expense ratio.

Dividends

BRSVX vs. VSMVX - Dividend Comparison

BRSVX's dividend yield for the trailing twelve months is around 1.77%, more than VSMVX's 1.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRSVX Bridgeway Small Cap Value Fund	1.77%	2.10%	3.35%	2.64%	0.96%	4.55%	0.84%	2.38%	21.58%	0.87%	0.97%	1.96%
VSMVX Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares	1.61%	1.45%	1.85%	1.92%	1.88%	1.66%	1.46%	1.65%	1.89%	1.55%	1.26%	1.42%

Frequently Asked Questions

Can I hold both BRSVX and VSMVX in my portfolio?

With a correlation of 0.93, BRSVX and VSMVX 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, BRSVX or VSMVX?

BRSVX has higher volatility (4.91%) compared to VSMVX (4.80%). In terms of maximum drawdown, BRSVX dropped -67.58% vs VSMVX's -47.61%.

Which has better risk-adjusted returns?

VSMVX currently has the higher Sharpe Ratio (2.17 vs 2.08), 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.