FRVLX vs. HWSAX

Last updated Jun 5, 2026

FRVLX (Franklin Small Cap Value Fund) and HWSAX (Hotchkis & Wiley Small Cap Value Fund Class A) are both Small Cap Value Equities funds. Over the past 10 years, FRVLX returned 10.18%/yr vs 10.62%/yr for HWSAX. Their correlation of 0.92 suggests significant overlap in exposure. FRVLX charges 1.00%/yr vs 1.21%/yr for HWSAX.

Performance

FRVLX vs. HWSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Small Cap Value Fund (FRVLX) and Hotchkis & Wiley Small Cap Value Fund Class A (HWSAX). 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 FRVLX having a 16.03% return and HWSAX slightly higher at 16.25%. Both investments have delivered pretty close results over the past 10 years, with FRVLX having a 10.18% annualized return and HWSAX not far ahead at 10.62%.

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%

HWSAX

• 1D: -1.13%
• 1M: 0.79%
• YTD: 16.25%
• 6M: 14.73%
• 1Y: 27.50%
• 3Y*: 12.41%
• 5Y*: 8.98%
• 10Y*: 10.62%

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

FRVLX vs. HWSAX - 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%
HWSAX Hotchkis & Wiley Small Cap Value Fund Class A	16.25%	1.38%	4.77%	18.56%	2.81%	35.32%	-0.50%	20.26%	-15.23%	7.39%

Correlation

The correlation between FRVLX and HWSAX is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Oct 9, 2000	0.92

The correlation between FRVLX and HWSAX has been stable across timeframes, ranging from 0.83 to 0.92 - a consistent structural relationship.

Return for Risk

FRVLX vs. HWSAX — 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

HWSAX

HWSAX Risk / Return Rank: 37
HWSAX Sharpe Ratio Rank: 32
HWSAX Sortino Ratio Rank: 31
HWSAX Omega Ratio Rank: 31
HWSAX Calmar Ratio Rank: 51
HWSAX Martin Ratio Rank: 42

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. HWSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Small Cap Value Fund (FRVLX) and Hotchkis & Wiley Small Cap Value Fund Class A (HWSAX). 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	HWSAX	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.59	+0.06
Sortino ratio: Return per unit of downside risk	2.48	2.29	+0.19
Omega ratio: Gain probability vs. loss probability	1.29	1.29	0.00
Calmar ratio: Return relative to maximum drawdown	2.52	2.71	-0.19
Martin ratio: Return relative to average drawdown	8.39	8.89	-0.51
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. HWSAX - Sharpe Ratio Comparison

The current FRVLX Sharpe Ratio is 1.65, which is comparable to the HWSAX Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of FRVLX and HWSAX, 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	HWSAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	1.59	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.42	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.43	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.48	-0.05

Drawdowns

FRVLX vs. HWSAX - Drawdown Comparison

The maximum FRVLX drawdown since its inception was -60.27%, smaller than the maximum HWSAX drawdown of -72.14%. Use the drawdown chart below to compare losses from any high point for FRVLX and HWSAX.

Drawdown Indicators

	FRVLX	HWSAX	Difference
Max Drawdown Largest peak-to-trough decline	-60.27%	-72.14%	+11.87%
Max Drawdown (1Y) Largest decline over 1 year	-12.04%	-10.06%	-1.98%
Max Drawdown (3Y) Largest decline over 3 years	-25.09%	-26.98%	+1.89%
Max Drawdown (5Y) Largest decline over 5 years	-25.09%	-26.98%	+1.89%
Max Drawdown (10Y) Largest decline over 10 years	-44.10%	-53.82%	+9.72%
Current Drawdown Current decline from peak	-0.90%	-1.13%	+0.23%
Average Drawdown Average peak-to-trough decline	-10.31%	-10.96%	+0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.62%	3.06%	+0.56%

Volatility

FRVLX vs. HWSAX - Volatility Comparison

Franklin Small Cap Value Fund (FRVLX) has a higher volatility of 5.16% compared to Hotchkis & Wiley Small Cap Value Fund Class A (HWSAX) at 3.93%. This indicates that FRVLX's price experiences larger fluctuations and is considered to be riskier than HWSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRVLX	HWSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.16%	3.93%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	12.87%	11.32%	+1.55%
Volatility (1Y) Calculated over the trailing 1-year period	18.49%	17.26%	+1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.59%	21.54%	+0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.82%	24.62%	-1.80%

FRVLX vs. HWSAX - Expense Ratio Comparison

FRVLX has a 1.00% expense ratio, which is lower than HWSAX's 1.21% expense ratio.

Dividends

FRVLX vs. HWSAX - Dividend Comparison

FRVLX's dividend yield for the trailing twelve months is around 6.89%, more than HWSAX's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
HWSAX Hotchkis & Wiley Small Cap Value Fund Class A	0.60%	0.69%	8.19%	1.79%	13.39%	0.22%	0.63%	4.62%	9.45%	4.80%	0.00%	11.67%

Frequently Asked Questions

Can I hold both FRVLX and HWSAX in my portfolio?

FRVLX and HWSAX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FRVLX or HWSAX?

FRVLX has higher volatility (5.16%) compared to HWSAX (3.93%). In terms of maximum drawdown, FRVLX dropped -60.27% vs HWSAX's -72.14%.

Which has better risk-adjusted returns?

FRVLX currently has the higher Sharpe Ratio (1.65 vs 1.59), 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.