FRVLX vs. FASEX

Last updated Jun 5, 2026

FRVLX (Franklin Small Cap Value Fund) and FASEX (Nuveen Mid Cap Value Fund) are both mutual funds - FRVLX is a Small Cap Value Equities fund managed by Franklin Templeton, while FASEX is a Mid Cap Value Equities fund managed by Nuveen. Over the past 10 years, FRVLX returned 10.18%/yr vs 10.95%/yr for FASEX. Their correlation of 0.90 suggests significant overlap in exposure. FRVLX charges 1.00%/yr vs 1.16%/yr for FASEX.

Performance

FRVLX vs. FASEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Small Cap Value Fund (FRVLX) and Nuveen Mid Cap Value Fund (FASEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRVLX achieves a 16.03% return, which is significantly lower than FASEX's 17.41% return. Over the past 10 years, FRVLX has underperformed FASEX with an annualized return of 10.18%, while FASEX has yielded a comparatively higher 10.95% annualized return.

FRVLX

• 1D: -0.90%
• 1M: 1.33%
• YTD: 16.03%
• 6M: 16.67%
• 1Y: 31.13%
• 3Y*: 16.27%
• 5Y*: 6.67%
• 10Y*: 10.18%

FASEX

• 1D: -0.15%
• 1M: 2.78%
• YTD: 17.41%
• 6M: 17.01%
• 1Y: 30.65%
• 3Y*: 16.60%
• 5Y*: 9.21%
• 10Y*: 10.95%

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

FRVLX vs. FASEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRVLX Franklin Small Cap Value Fund	16.03%	7.36%	13.16%	12.81%	-10.25%	22.51%	5.45%	26.08%	-12.92%	9.91%
FASEX Nuveen Mid Cap Value Fund	17.41%	9.68%	10.40%	14.20%	-10.63%	34.84%	1.19%	26.68%	-13.00%	19.23%

Correlation

The correlation between FRVLX and FASEX 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	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Mar 12, 1996	0.90

The correlation between FRVLX and FASEX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

FRVLX vs. FASEX — Risk / Return Rank

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

FRVLX

FRVLX Risk / Return Rank: 37
FRVLX Sharpe Ratio Rank: 33
FRVLX Sortino Ratio Rank: 35
FRVLX Omega Ratio Rank: 31
FRVLX Calmar Ratio Rank: 45
FRVLX Martin Ratio Rank: 39

FASEX

FASEX Risk / Return Rank: 66
FASEX Sharpe Ratio Rank: 57
FASEX Sortino Ratio Rank: 57
FASEX Omega Ratio Rank: 50
FASEX Calmar Ratio Rank: 86
FASEX 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.

FRVLX vs. FASEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Small Cap Value Fund (FRVLX) and Nuveen Mid Cap Value Fund (FASEX). 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.

	FRVLX	FASEX	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.22	-0.58
Sortino ratio: Return per unit of downside risk	2.48	3.16	-0.69
Omega ratio: Gain probability vs. loss probability	1.29	1.38	-0.10
Calmar ratio: Return relative to maximum drawdown	2.52	4.14	-1.62
Martin ratio: Return relative to average drawdown	8.39	15.11	-6.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRVLX vs. FASEX - Sharpe Ratio Comparison

The current FRVLX Sharpe Ratio is 1.65, which is comparable to the FASEX Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of FRVLX and FASEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FRVLX	FASEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	2.22	-0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.51	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.54	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.52	-0.09

Drawdowns

FRVLX vs. FASEX - Drawdown Comparison

The maximum FRVLX drawdown since its inception was -60.27%, which is greater than FASEX's maximum drawdown of -55.57%. Use the drawdown chart below to compare losses from any high point for FRVLX and FASEX.

Drawdown Indicators

	FRVLX	FASEX	Difference
Max Drawdown Largest peak-to-trough decline	-60.27%	-55.57%	-4.70%
Max Drawdown (1Y) Largest decline over 1 year	-12.04%	-7.37%	-4.67%
Max Drawdown (3Y) Largest decline over 3 years	-25.09%	-22.26%	-2.83%
Max Drawdown (5Y) Largest decline over 5 years	-25.09%	-22.26%	-2.83%
Max Drawdown (10Y) Largest decline over 10 years	-44.10%	-44.56%	+0.46%
Current Drawdown Current decline from peak	-0.90%	-0.15%	-0.75%
Average Drawdown Average peak-to-trough decline	-10.31%	-8.93%	-1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.62%	2.01%	+1.61%

Volatility

FRVLX vs. FASEX - Volatility Comparison

Franklin Small Cap Value Fund (FRVLX) has a higher volatility of 5.16% compared to Nuveen Mid Cap Value Fund (FASEX) at 4.23%. This indicates that FRVLX's price experiences larger fluctuations and is considered to be riskier than FASEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRVLX	FASEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.16%	4.23%	+0.93%
Volatility (6M) Calculated over the trailing 6-month period	12.87%	10.24%	+2.63%
Volatility (1Y) Calculated over the trailing 1-year period	18.49%	13.76%	+4.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.59%	18.07%	+3.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.82%	20.21%	+2.61%

FRVLX vs. FASEX - Expense Ratio Comparison

FRVLX has a 1.00% expense ratio, which is lower than FASEX's 1.16% expense ratio.

Dividends

FRVLX vs. FASEX - Dividend Comparison

FRVLX's dividend yield for the trailing twelve months is around 6.89%, less than FASEX's 12.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FASEX Nuveen Mid Cap Value Fund	12.50%	14.67%	5.29%	3.12%	6.32%	4.02%	1.06%	0.89%	4.48%	7.93%	3.67%	3.49%
FRVLX Franklin Small Cap Value Fund	6.89%	7.99%	8.45%	4.54%	3.21%	7.55%	2.20%	6.31%	18.48%	8.06%	4.76%	11.04%

Frequently Asked Questions

Can I hold both FRVLX and FASEX in my portfolio?

With a correlation of 0.91, FRVLX and FASEX 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, FRVLX or FASEX?

FRVLX has higher volatility (5.16%) compared to FASEX (4.23%). In terms of maximum drawdown, FRVLX dropped -60.27% vs FASEX's -55.57%.

Which has better risk-adjusted returns?

FASEX currently has the higher Sharpe Ratio (2.22 vs 1.65), 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.