CIVIX vs. HLMIX
Compare and contrast key facts about Causeway International Value Instl (CIVIX) and Harding Loevner International Equity Portfolio (HLMIX).
CIVIX is a passively managed fund by Causeway that tracks the performance of the MSCI AC World ex USA Value (Net). It was launched on Oct 26, 2001. HLMIX is managed by Harding Loevner. It was launched on May 10, 1994.
Performance
CIVIX vs. HLMIX - Performance Comparison
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CIVIX vs. HLMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CIVIX Causeway International Value Instl | -4.47% | 39.13% | 3.73% | 27.29% | -6.77% | 9.12% | 5.41% | 20.11% | -18.62% | 27.20% |
HLMIX Harding Loevner International Equity Portfolio | 2.76% | 27.63% | 1.18% | 15.10% | -20.21% | 8.49% | 20.33% | 25.22% | -13.96% | 29.91% |
Returns By Period
In the year-to-date period, CIVIX achieves a -4.47% return, which is significantly lower than HLMIX's 2.76% return. Over the past 10 years, CIVIX has outperformed HLMIX with an annualized return of 9.58%, while HLMIX has yielded a comparatively lower 8.92% annualized return.
CIVIX
- 1D
- 2.75%
- 1M
- -10.16%
- YTD
- -4.47%
- 6M
- 1.81%
- 1Y
- 20.45%
- 3Y*
- 15.42%
- 5Y*
- 10.44%
- 10Y*
- 9.58%
HLMIX
- 1D
- 2.65%
- 1M
- -6.56%
- YTD
- 2.76%
- 6M
- 6.09%
- 1Y
- 23.54%
- 3Y*
- 12.33%
- 5Y*
- 5.30%
- 10Y*
- 8.92%
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CIVIX vs. HLMIX - Expense Ratio Comparison
CIVIX has a 0.85% expense ratio, which is higher than HLMIX's 0.79% expense ratio.
Return for Risk
CIVIX vs. HLMIX — Risk / Return Rank
CIVIX
HLMIX
CIVIX vs. HLMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Causeway International Value Instl (CIVIX) and Harding Loevner International Equity Portfolio (HLMIX). 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.
| CIVIX | HLMIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.11 | 1.55 | -0.44 |
Sortino ratioReturn per unit of downside risk | 1.56 | 2.11 | -0.55 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.30 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.08 | 2.19 | -1.11 |
Martin ratioReturn relative to average drawdown | 4.19 | 8.41 | -4.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CIVIX | HLMIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.11 | 1.55 | -0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 0.34 | +0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.55 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.36 | +0.03 |
Correlation
The correlation between CIVIX and HLMIX is 0.87, 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
CIVIX vs. HLMIX - Dividend Comparison
CIVIX's dividend yield for the trailing twelve months is around 10.17%, less than HLMIX's 14.54% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIVIX Causeway International Value Instl | 10.17% | 9.72% | 9.25% | 3.61% | 1.78% | 1.82% | 1.37% | 4.63% | 3.55% | 1.83% | 1.96% | 1.95% |
HLMIX Harding Loevner International Equity Portfolio | 14.54% | 14.94% | 7.14% | 3.79% | 2.51% | 2.48% | 0.75% | 1.59% | 1.50% | 1.64% | 0.98% | 1.02% |
Drawdowns
CIVIX vs. HLMIX - Drawdown Comparison
The maximum CIVIX drawdown since its inception was -60.93%, roughly equal to the maximum HLMIX drawdown of -58.03%. Use the drawdown chart below to compare losses from any high point for CIVIX and HLMIX.
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Drawdown Indicators
| CIVIX | HLMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.93% | -58.03% | -2.90% |
Max Drawdown (1Y)Largest decline over 1 year | -16.19% | -10.50% | -5.69% |
Max Drawdown (5Y)Largest decline over 5 years | -28.51% | -32.76% | +4.25% |
Max Drawdown (10Y)Largest decline over 10 years | -44.87% | -32.76% | -12.11% |
Current DrawdownCurrent decline from peak | -13.05% | -8.07% | -4.98% |
Average DrawdownAverage peak-to-trough decline | -11.02% | -12.76% | +1.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.15% | 2.75% | +1.40% |
Volatility
CIVIX vs. HLMIX - Volatility Comparison
Causeway International Value Instl (CIVIX) has a higher volatility of 8.44% compared to Harding Loevner International Equity Portfolio (HLMIX) at 7.06%. This indicates that CIVIX's price experiences larger fluctuations and is considered to be riskier than HLMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CIVIX | HLMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.44% | 7.06% | +1.38% |
Volatility (6M)Calculated over the trailing 6-month period | 12.37% | 10.74% | +1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.89% | 15.58% | +3.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.88% | 15.74% | +2.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.27% | 16.40% | +2.87% |