CVLVX vs. SMVLX

Last updated Jun 26, 2026

CVLVX (Cullen Value Fund) and SMVLX (Smead Value Fund) are both Large Cap Value Equities funds. Over the past 10 years, CVLVX returned 11.25%/yr vs 12.94%/yr for SMVLX. Their correlation of 0.85 suggests significant overlap in exposure. CVLVX charges 0.75%/yr vs 1.26%/yr for SMVLX.

Performance

CVLVX vs. SMVLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cullen Value Fund (CVLVX) and Smead Value Fund (SMVLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with CVLVX having a 16.35% return and SMVLX slightly higher at 16.78%. Over the past 10 years, CVLVX has underperformed SMVLX with an annualized return of 11.25%, while SMVLX has yielded a comparatively higher 12.94% annualized return.

CVLVX

• 1D: -0.28%
• 1M: 3.80%
• YTD: 16.35%
• 6M: 15.09%
• 1Y: 31.58%
• 3Y*: 17.20%
• 5Y*: 9.89%
• 10Y*: 11.25%

SMVLX

• 1D: 1.14%
• 1M: 2.89%
• YTD: 16.78%
• 6M: 15.63%
• 1Y: 31.12%
• 3Y*: 14.56%
• 5Y*: 9.72%
• 10Y*: 12.94%

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

CVLVX vs. SMVLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CVLVX Cullen Value Fund	16.35%	20.10%	9.71%	5.53%	-6.37%	20.49%	2.06%	24.86%	-4.89%	17.93%
SMVLX Smead Value Fund	16.78%	5.05%	4.78%	16.87%	-2.79%	42.46%	1.71%	26.29%	-4.79%	19.73%

Correlation

The correlation between CVLVX and SMVLX is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.85

The correlation between CVLVX and SMVLX shifts across timeframes, from 0.68 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CVLVX vs. SMVLX — Risk / Return Rank

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

CVLVX

CVLVX Risk / Return Rank: 90
CVLVX Sharpe Ratio Rank: 93
CVLVX Sortino Ratio Rank: 90
CVLVX Omega Ratio Rank: 85
CVLVX Calmar Ratio Rank: 91
CVLVX Martin Ratio Rank: 92

SMVLX

SMVLX Risk / Return Rank: 81
SMVLX Sharpe Ratio Rank: 75
SMVLX Sortino Ratio Rank: 76
SMVLX Omega Ratio Rank: 67
SMVLX Calmar Ratio Rank: 95
SMVLX Martin Ratio Rank: 89

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.

CVLVX vs. SMVLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cullen Value Fund (CVLVX) and Smead Value Fund (SMVLX). 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.

	CVLVX	SMVLX	Difference
Sharpe ratio: Return per unit of total volatility	2.70	2.12	+0.58
Sortino ratio: Return per unit of downside risk	3.89	3.06	+0.83
Omega ratio: Gain probability vs. loss probability	1.48	1.37	+0.11
Calmar ratio: Return relative to maximum drawdown	4.17	5.13	-0.96
Martin ratio: Return relative to average drawdown	15.89	14.76	+1.13

CVLVX vs. SMVLX - Sharpe Ratio Comparison

The current CVLVX Sharpe Ratio is 2.70, which is comparable to the SMVLX Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of CVLVX and SMVLX, 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

CVLVX vs. SMVLX - Drawdown Comparison

The maximum CVLVX drawdown since its inception was -35.99%, smaller than the maximum SMVLX drawdown of -39.56%. Use the drawdown chart below to compare losses from any high point for CVLVX and SMVLX.

Drawdown Indicators

	CVLVX	SMVLX	Difference
Max Drawdown Largest peak-to-trough decline	-35.99%	-39.56%	+3.57%
Max Drawdown (1Y) Largest decline over 1 year	-7.52%	-5.90%	-1.62%
Max Drawdown (3Y) Largest decline over 3 years	-16.32%	-24.62%	+8.30%
Max Drawdown (5Y) Largest decline over 5 years	-20.69%	-24.62%	+3.93%
Max Drawdown (10Y) Largest decline over 10 years	-35.99%	-39.56%	+3.57%
Current Drawdown Current decline from peak	-0.88%	-0.61%	-0.27%
Average Drawdown Average peak-to-trough decline	-4.12%	-4.58%	+0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	2.05%	-0.08%

Volatility

CVLVX vs. SMVLX - Volatility Comparison

The current volatility for Cullen Value Fund (CVLVX) is 3.61%, while Smead Value Fund (SMVLX) has a volatility of 3.82%. This indicates that CVLVX experiences smaller price fluctuations and is considered to be less risky than SMVLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVLVX	SMVLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	3.82%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	9.11%	8.84%	+0.27%
Volatility (1Y) Calculated over the trailing 1-year period	11.64%	14.30%	-2.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.40%	18.38%	-3.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.45%	19.45%	-3.00%

CVLVX vs. SMVLX - Expense Ratio Comparison

CVLVX has a 0.75% expense ratio, which is lower than SMVLX's 1.26% expense ratio.

Dividends

CVLVX vs. SMVLX - Dividend Comparison

CVLVX's dividend yield for the trailing twelve months is around 3.26%, more than SMVLX's 1.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CVLVX Cullen Value Fund	3.26%	3.43%	4.92%	9.40%	6.48%	11.24%	16.67%	13.16%	1.68%	7.81%	4.07%	3.03%
SMVLX Smead Value Fund	1.43%	1.67%	1.08%	1.34%	1.78%	3.91%	1.40%	3.83%	7.47%	0.22%	3.14%	3.10%

Frequently Asked Questions

Can I hold both CVLVX and SMVLX in my portfolio?

CVLVX and SMVLX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CVLVX or SMVLX?

SMVLX has higher volatility (3.82%) compared to CVLVX (3.61%). In terms of maximum drawdown, CVLVX dropped -35.99% vs SMVLX's -39.56%.

Which has better risk-adjusted returns?

CVLVX currently has the higher Sharpe Ratio (2.70 vs 2.12), 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.