HLMSX vs. AIOIX
HLMSX (Harding Loevner International Small Companies Portfolio) and AIOIX (American Century International Opportunities Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, HLMSX returned 6.13%/yr vs 7.07%/yr for AIOIX. Their correlation of 0.86 means they have usually moved in the same direction. HLMSX charges 1.37%/yr vs 1.48%/yr for AIOIX.
Performance
HLMSX vs. AIOIX - Performance Comparison
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Returns By Period
In the year-to-date period, HLMSX achieves a 8.43% return, which is significantly higher than AIOIX's 5.83% return. Over the past 10 years, HLMSX has underperformed AIOIX with an annualized return of 6.13%, while AIOIX has yielded a comparatively higher 7.07% annualized return.
HLMSX
- 1D
- 1.44%
- 1M
- 1.55%
- 6M
- 5.58%
- YTD
- 8.43%
- 1Y
- 7.49%
- 3Y*
- 5.51%
- 5Y*
- -0.16%
- 10Y*
- 6.13%
- ALL TIME*
- 5.63%
AIOIX
- 1D
- 3.73%
- 1M
- -4.57%
- 6M
- -1.73%
- YTD
- 5.83%
- 1Y
- 16.02%
- 3Y*
- 10.94%
- 5Y*
- 0.73%
- 10Y*
- 7.07%
- ALL TIME*
- 10.20%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
HLMSX vs. AIOIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HLMSX Harding Loevner International Small Companies Portfolio | 8.43% | 14.87% | -6.92% | 11.78% | -24.50% | 12.82% | 18.51% | 29.45% | -17.65% | 34.42% |
AIOIX American Century International Opportunities Fund | 5.83% | 29.62% | 1.31% | 8.63% | -30.19% | 5.79% | 31.07% | 28.95% | -22.19% | 45.09% |
Correlation
The correlation between HLMSX and AIOIX is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.80 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.85 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2007 | 0.86 |
The correlation between HLMSX and AIOIX has been stable across timeframes, ranging from 0.76 to 0.86 - a consistent structural relationship.
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Return for Risk
HLMSX vs. AIOIX — Risk / Return Rank
HLMSX
AIOIX
HLMSX vs. AIOIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harding Loevner International Small Companies Portfolio (HLMSX) and American Century International Opportunities Fund (AIOIX). 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.
| HLMSX | AIOIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.14 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.65 | 1.15 | -0.50 |
| Martin ratioReturn relative to average drawdown | 1.64 | 3.57 | -1.93 |
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Drawdowns
HLMSX vs. AIOIX - Drawdown Comparison
The maximum HLMSX drawdown since its inception was -60.77%, smaller than the maximum AIOIX drawdown of -66.16%. Use the drawdown chart below to compare losses from any high point for HLMSX and AIOIX.
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Drawdown Indicators
| HLMSX | AIOIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.77% | -66.16% | +5.39% |
Max Drawdown (1Y)Largest decline over 1 year | -10.59% | -14.00% | +3.41% |
Max Drawdown (3Y)Largest decline over 3 years | -16.57% | -17.09% | +0.52% |
Max Drawdown (5Y)Largest decline over 5 years | -38.22% | -41.19% | +2.97% |
Max Drawdown (10Y)Largest decline over 10 years | -38.22% | -41.19% | +2.97% |
Current DrawdownCurrent decline from peak | -7.45% | -10.37% | +2.92% |
Average DrawdownAverage peak-to-trough decline | -13.20% | -15.96% | +2.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | 4.50% | -0.34% |
Volatility
HLMSX vs. AIOIX - Volatility Comparison
The current volatility for Harding Loevner International Small Companies Portfolio (HLMSX) is 4.00%, while American Century International Opportunities Fund (AIOIX) has a volatility of 8.01%. This indicates that HLMSX experiences smaller price fluctuations and is considered to be less risky than AIOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HLMSX | AIOIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.00% | 8.01% | -4.01% |
Volatility (6M)Calculated over the trailing 6-month period | 10.58% | 19.30% | -8.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.64% | 21.80% | -9.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.14% | 19.49% | -4.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.82% | 19.03% | -4.21% |
HLMSX vs. AIOIX - Expense Ratio Comparison
HLMSX has a 1.37% expense ratio, which is lower than AIOIX's 1.48% expense ratio.
Dividends
HLMSX vs. AIOIX - Dividend Comparison
HLMSX's dividend yield for the trailing twelve months is around 3.73%, more than AIOIX's 0.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIOIX American Century International Opportunities Fund | 0.26% | 0.27% | 0.32% | 0.23% | 0.00% | 17.80% | 3.18% | 0.92% | 5.28% | 9.09% | 0.04% | 7.15% |
HLMSX Harding Loevner International Small Companies Portfolio | 3.73% | 4.04% | 1.17% | 1.00% | 1.83% | 2.82% | 0.03% | 0.52% | 7.56% | 1.13% | 4.37% | 1.54% |
Frequently Asked Questions
HLMSX and AIOIX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AIOIX has higher volatility (8.01%) compared to HLMSX (4.00%). In terms of maximum drawdown, HLMSX dropped -60.77% vs AIOIX's -66.16%.
AIOIX currently has the higher Sharpe Ratio (0.74 vs 0.54), 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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