HRVIX vs. HRTVX
HRVIX (Heartland Value Plus Fund) and HRTVX (Heartland Value Fund) are both Small Cap Value Equities funds from Heartland. Over the past 10 years, HRVIX returned 9.20%/yr vs 11.75%/yr for HRTVX. Their correlation of 0.86 means they have usually moved in the same direction. HRVIX charges 1.15%/yr vs 1.04%/yr for HRTVX.
Performance
HRVIX vs. HRTVX - Performance Comparison
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Returns By Period
In the year-to-date period, HRVIX achieves a 21.37% return, which is significantly lower than HRTVX's 24.00% return. Over the past 10 years, HRVIX has underperformed HRTVX with an annualized return of 9.20%, while HRTVX has yielded a comparatively higher 11.75% annualized return.
HRVIX
- 1D
- 0.16%
- 1M
- -1.22%
- 6M
- 13.07%
- YTD
- 21.37%
- 1Y
- 29.03%
- 3Y*
- 6.27%
- 5Y*
- 4.00%
- 10Y*
- 9.20%
- ALL TIME*
- 9.43%
HRTVX
- 1D
- 0.85%
- 1M
- -0.84%
- 6M
- 15.02%
- YTD
- 24.00%
- 1Y
- 41.30%
- 3Y*
- 20.51%
- 5Y*
- 12.97%
- 10Y*
- 11.75%
- ALL TIME*
- 10.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
HRTVX Heartland Value Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
HRVIX vs. HRTVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HRVIX Heartland Value Plus Fund | 21.37% | 1.06% | -0.28% | 1.83% | -4.99% | 24.89% | 12.62% | 26.00% | -13.12% | 9.81% |
HRTVX Heartland Value Fund | 24.00% | 15.94% | 15.76% | 17.15% | -10.04% | 21.86% | 13.12% | 17.93% | -12.10% | 8.45% |
Correlation
The correlation between HRVIX and HRTVX is 0.92, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 1993 | 0.86 |
The correlation between HRVIX and HRTVX has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.
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Return for Risk
HRVIX vs. HRTVX — Risk / Return Rank
HRVIX
HRTVX
HRVIX vs. HRTVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Heartland Value Plus Fund (HRVIX) 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.
| HRVIX | HRTVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.39 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 4.06 | -1.81 |
| Martin ratioReturn relative to average drawdown | 7.34 | 14.21 | -6.87 |
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Drawdowns
HRVIX vs. HRTVX - Drawdown Comparison
The maximum HRVIX drawdown since its inception was -46.82%, smaller than the maximum HRTVX drawdown of -61.68%. Use the drawdown chart below to compare losses from any high point for HRVIX and HRTVX.
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Drawdown Indicators
| HRVIX | HRTVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.82% | -61.68% | +14.86% |
Max Drawdown (1Y)Largest decline over 1 year | -11.97% | -9.50% | -2.47% |
Max Drawdown (3Y)Largest decline over 3 years | -28.50% | -23.17% | -5.33% |
Max Drawdown (5Y)Largest decline over 5 years | -28.50% | -23.17% | -5.33% |
Max Drawdown (10Y)Largest decline over 10 years | -36.47% | -46.31% | +9.84% |
Current DrawdownCurrent decline from peak | -3.02% | -1.72% | -1.30% |
Average DrawdownAverage peak-to-trough decline | -8.58% | -9.00% | +0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.66% | 2.71% | +0.95% |
Volatility
HRVIX vs. HRTVX - Volatility Comparison
The current volatility for Heartland Value Plus Fund (HRVIX) is 3.58%, while Heartland Value Fund (HRTVX) has a volatility of 4.07%. This indicates that HRVIX experiences smaller price fluctuations and is considered to be less risky than HRTVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HRVIX | HRTVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.58% | 4.07% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 11.95% | 11.78% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.11% | 17.00% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.59% | 19.40% | +0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.55% | 20.99% | +0.56% |
HRVIX vs. HRTVX - Expense Ratio Comparison
HRVIX has a 1.15% expense ratio, which is higher than HRTVX's 1.04% expense ratio.
Dividends
HRVIX vs. HRTVX - Dividend Comparison
HRVIX's dividend yield for the trailing twelve months is around 0.51%, less than HRTVX's 7.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HRTVX Heartland Value Fund | 7.49% | 9.29% | 8.91% | 5.65% | 3.01% | 13.50% | 0.76% | 3.12% | 7.26% | 6.43% | 3.56% | 8.25% |
HRVIX Heartland Value Plus Fund | 0.51% | 0.62% | 3.00% | 1.43% | 2.25% | 24.50% | 1.03% | 1.47% | 1.13% | 0.14% | 0.65% | 8.78% |
Frequently Asked Questions
With a correlation of 0.92, HRVIX 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.
HRTVX has higher volatility (4.07%) compared to HRVIX (3.58%). In terms of maximum drawdown, HRVIX dropped -46.82% vs HRTVX's -61.68%.
HRTVX currently has the higher Sharpe Ratio (2.28 vs 1.57), 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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