CSMIX vs. HRTVX

Last updated Jun 25, 2026

CSMIX (Columbia Small Cap Value Fund I) and HRTVX (Heartland Value Fund) are both Small Cap Value Equities funds. Over the past 10 years, CSMIX returned 11.64%/yr vs 12.24%/yr for HRTVX. Their correlation of 0.84 suggests significant overlap in exposure. CSMIX charges 1.26%/yr vs 1.04%/yr for HRTVX.

Performance

CSMIX vs. HRTVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Small Cap Value Fund I (CSMIX) and Heartland Value Fund (HRTVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSMIX achieves a 8.03% return, which is significantly lower than HRTVX's 21.36% return. Over the past 10 years, CSMIX has underperformed HRTVX with an annualized return of 11.64%, while HRTVX has yielded a comparatively higher 12.24% annualized return.

CSMIX

• 1D: -6.13%
• 1M: -2.86%
• YTD: 8.03%
• 6M: 6.43%
• 1Y: 27.05%
• 3Y*: 16.46%
• 5Y*: 8.30%
• 10Y*: 11.64%

HRTVX

• 1D: -0.36%
• 1M: 2.91%
• YTD: 21.36%
• 6M: 19.59%
• 1Y: 38.29%
• 3Y*: 22.98%
• 5Y*: 11.90%
• 10Y*: 12.24%

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

CSMIX vs. HRTVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSMIX Columbia Small Cap Value Fund I	8.03%	14.65%	8.66%	21.42%	-8.87%	28.95%	7.82%	21.01%	-18.37%	13.77%
HRTVX Heartland Value Fund	21.36%	15.94%	15.76%	17.15%	-10.04%	21.86%	13.12%	17.93%	-12.10%	8.45%

Correlation

The correlation between CSMIX and HRTVX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jul 25, 1986	0.84

The correlation between CSMIX and HRTVX shifts across timeframes, from 0.84 (all time) to 0.95 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

CSMIX vs. HRTVX — Risk / Return Rank

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

CSMIX

CSMIX Risk / Return Rank: 37
CSMIX Sharpe Ratio Rank: 33
CSMIX Sortino Ratio Rank: 31
CSMIX Omega Ratio Rank: 31
CSMIX Calmar Ratio Rank: 46
CSMIX Martin Ratio Rank: 42

HRTVX

HRTVX Risk / Return Rank: 80
HRTVX Sharpe Ratio Rank: 78
HRTVX Sortino Ratio Rank: 79
HRTVX Omega Ratio Rank: 67
HRTVX Calmar Ratio Rank: 89
HRTVX Martin Ratio Rank: 85

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.

CSMIX vs. HRTVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Small Cap Value Fund I (CSMIX) and Heartland Value Fund (HRTVX). 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.

	CSMIX	HRTVX	Difference
Sharpe ratio: Return per unit of total volatility	1.49	2.33	-0.84
Sortino ratio: Return per unit of downside risk	2.09	3.36	-1.27
Omega ratio: Gain probability vs. loss probability	1.27	1.40	-0.14
Calmar ratio: Return relative to maximum drawdown	2.40	4.18	-1.78
Martin ratio: Return relative to average drawdown	8.38	14.39	-6.02

CSMIX vs. HRTVX - Sharpe Ratio Comparison

The current CSMIX Sharpe Ratio is 1.49, which is lower than the HRTVX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of CSMIX and HRTVX, 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

CSMIX vs. HRTVX - Drawdown Comparison

The maximum CSMIX drawdown since its inception was -53.37%, smaller than the maximum HRTVX drawdown of -61.68%. Use the drawdown chart below to compare losses from any high point for CSMIX and HRTVX.

Drawdown Indicators

	CSMIX	HRTVX	Difference
Max Drawdown Largest peak-to-trough decline	-53.37%	-61.68%	+8.31%
Max Drawdown (1Y) Largest decline over 1 year	-11.94%	-9.50%	-2.44%
Max Drawdown (3Y) Largest decline over 3 years	-25.98%	-23.17%	-2.81%
Max Drawdown (5Y) Largest decline over 5 years	-25.98%	-23.17%	-2.81%
Max Drawdown (10Y) Largest decline over 10 years	-48.42%	-46.31%	-2.11%
Current Drawdown Current decline from peak	-7.49%	-0.36%	-7.13%
Average Drawdown Average peak-to-trough decline	-8.91%	-9.02%	+0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	2.76%	+0.65%

Volatility

CSMIX vs. HRTVX - Volatility Comparison

Columbia Small Cap Value Fund I (CSMIX) has a higher volatility of 8.01% compared to Heartland Value Fund (HRTVX) at 4.88%. This indicates that CSMIX's price experiences larger fluctuations and is considered to be riskier than HRTVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSMIX	HRTVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.01%	4.88%	+3.13%
Volatility (6M) Calculated over the trailing 6-month period	13.66%	11.96%	+1.70%
Volatility (1Y) Calculated over the trailing 1-year period	19.23%	17.08%	+2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.65%	19.51%	+2.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.99%	21.02%	+2.97%

CSMIX vs. HRTVX - Expense Ratio Comparison

CSMIX has a 1.26% expense ratio, which is higher than HRTVX's 1.04% expense ratio.

Dividends

CSMIX vs. HRTVX - Dividend Comparison

CSMIX's dividend yield for the trailing twelve months is around 10.24%, more than HRTVX's 7.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSMIX Columbia Small Cap Value Fund I	10.24%	14.23%	6.67%	7.57%	6.02%	13.34%	0.50%	3.58%	9.79%	11.56%	11.58%	12.73%
HRTVX Heartland Value Fund	7.65%	9.29%	8.91%	5.65%	3.01%	13.50%	0.76%	3.12%	7.26%	6.43%	3.56%	8.25%

Frequently Asked Questions

Can I hold both CSMIX and HRTVX in my portfolio?

With a correlation of 0.91, CSMIX and HRTVX 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, CSMIX or HRTVX?

CSMIX has higher volatility (8.01%) compared to HRTVX (4.88%). In terms of maximum drawdown, CSMIX dropped -53.37% vs HRTVX's -61.68%.

Which has better risk-adjusted returns?

HRTVX currently has the higher Sharpe Ratio (2.33 vs 1.49), 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.