CIVVX vs. CIVIX
CIVVX (Causeway International Value Fund) and CIVIX (Causeway International Value Instl) are both Foreign Large Cap Equities funds from Causeway. Over the past 10 years, CIVVX returned 9.97%/yr vs 10.22%/yr for CIVIX. With a 1.00 correlation, they move nearly in lockstep. CIVVX charges 1.10%/yr vs 0.85%/yr for CIVIX.
Performance
CIVVX vs. CIVIX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with CIVVX having a 6.15% return and CIVIX slightly higher at 6.21%. Both investments have delivered pretty close results over the past 10 years, with CIVVX having a 9.97% annualized return and CIVIX not far ahead at 10.22%.
CIVVX
- 1D
- 0.65%
- 1M
- 6.70%
- YTD
- 6.15%
- 6M
- 11.10%
- 1Y
- 25.09%
- 3Y*
- 18.12%
- 5Y*
- 11.59%
- 10Y*
- 9.97%
CIVIX
- 1D
- 0.65%
- 1M
- 6.71%
- YTD
- 6.21%
- 6M
- 11.22%
- 1Y
- 25.35%
- 3Y*
- 18.44%
- 5Y*
- 11.87%
- 10Y*
- 10.22%
CIVVX vs. CIVIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CIVVX Causeway International Value Fund | 6.15% | 38.72% | 3.46% | 26.99% | -6.99% | 8.86% | 5.16% | 19.81% | -18.83% | 27.09% |
CIVIX Causeway International Value Instl | 6.21% | 39.13% | 3.73% | 27.29% | -6.77% | 9.12% | 5.41% | 20.11% | -18.62% | 27.20% |
Correlation
The correlation between CIVVX and CIVIX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2001 | 1.00 |
The correlation between CIVVX and CIVIX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
CIVVX vs. CIVIX — Risk / Return Rank
CIVVX
CIVIX
CIVVX vs. CIVIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Causeway International Value Fund (CIVVX) and Causeway International Value Instl (CIVIX). 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.
| CIVVX | CIVIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.28 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.54 | 1.56 | -0.02 |
| Martin ratioReturn relative to average drawdown | 5.09 | 5.16 | -0.07 |
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
| CIVVX | CIVIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 1.48 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 0.66 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | 0.53 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.41 | -0.01 |
Drawdowns
CIVVX vs. CIVIX - Drawdown Comparison
The maximum CIVVX drawdown since its inception was -61.07%, roughly equal to the maximum CIVIX drawdown of -60.93%. Use the drawdown chart below to compare losses from any high point for CIVVX and CIVIX.
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Drawdown Indicators
| CIVVX | CIVIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.07% | -60.93% | -0.14% |
Max Drawdown (1Y)Largest decline over 1 year | -16.20% | -16.19% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -17.31% | -17.30% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -28.60% | -28.51% | -0.09% |
Max Drawdown (10Y)Largest decline over 10 years | -45.13% | -44.87% | -0.26% |
Current DrawdownCurrent decline from peak | -3.36% | -3.33% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -11.21% | -10.99% | -0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.89% | 4.88% | +0.01% |
Volatility
CIVVX vs. CIVIX - Volatility Comparison
Causeway International Value Fund (CIVVX) and Causeway International Value Instl (CIVIX) have volatilities of 5.69% and 5.71%, 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.
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Volatility by Period
| CIVVX | CIVIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.69% | 5.71% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 14.36% | 14.34% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.06% | 17.04% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.16% | 18.18% | -0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.40% | 19.43% | -0.03% |
CIVVX vs. CIVIX - Expense Ratio Comparison
CIVVX has a 1.10% expense ratio, which is higher than CIVIX's 0.85% expense ratio.
Dividends
CIVVX vs. CIVIX - Dividend Comparison
CIVVX's dividend yield for the trailing twelve months is around 9.04%, less than CIVIX's 9.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIVIX Causeway International Value Instl | 9.15% | 9.72% | 9.25% | 3.61% | 1.78% | 1.82% | 1.37% | 4.63% | 3.55% | 1.83% | 1.96% | 1.95% |
CIVVX Causeway International Value Fund | 9.04% | 9.59% | 9.07% | 3.39% | 1.54% | 1.60% | 1.11% | 4.41% | 3.31% | 1.73% | 1.69% | 1.70% |
Frequently Asked Questions
With a correlation of 1.00, CIVVX and CIVIX 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.
CIVIX has higher volatility (5.71%) compared to CIVVX (5.69%). In terms of maximum drawdown, CIVVX dropped -61.07% vs CIVIX's -60.93%.
CIVIX currently has the higher Sharpe Ratio (1.48 vs 1.46), 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.
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