HSGFX vs. RZV
HSGFX (Hussman Strategic Growth Fund) and RZV (Invesco S&P SmallCap 600® Pure Value ETF) are both funds - HSGFX is a Long-Short fund managed by Hussman Funds, while RZV is a Small Cap Value Equities fund tracking the S&P Small Cap 600 Pure Value. Over the past 10 years, HSGFX returned -2.22%/yr vs 10.83%/yr for RZV. Their -0.37 correlation means they have often moved in opposite directions in the past. HSGFX charges 1.15%/yr vs 0.35%/yr for RZV.
Performance
HSGFX vs. RZV - Performance Comparison
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Returns By Period
In the year-to-date period, HSGFX achieves a -5.27% return, which is significantly lower than RZV's 28.27% return. Over the past 10 years, HSGFX has underperformed RZV with an annualized return of -2.22%, while RZV has yielded a comparatively higher 10.83% annualized return.
HSGFX
- 1D
- -0.92%
- 1M
- 3.85%
- 6M
- -3.58%
- YTD
- -5.27%
- 1Y
- -10.47%
- 3Y*
- -2.65%
- 5Y*
- -1.91%
- 10Y*
- -2.22%
- ALL TIME*
- 0.22%
RZV
- 1D
- 1.82%
- 1M
- 2.39%
- 6M
- 16.91%
- YTD
- 28.27%
- 1Y
- 48.09%
- 3Y*
- 16.77%
- 5Y*
- 12.95%
- 10Y*
- 10.83%
- ALL TIME*
- 8.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $1.90M | $1.80M | $1.00M |
HSGFX vs. RZV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSGFX Hussman Strategic Growth Fund | -5.27% | 6.24% | -6.99% | -11.60% | 17.33% | -0.23% | 14.52% | -18.87% | 8.78% | -12.72% |
RZV Invesco S&P SmallCap 600® Pure Value ETF | 28.27% | 8.65% | 5.06% | 22.97% | -6.80% | 45.95% | -3.88% | 22.29% | -19.66% | 1.25% |
Correlation
The correlation between HSGFX and RZV is -0.25, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.25 |
Correlation (3Y) Balances recent behavior with more history. | -0.32 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.38 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.33 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2006 | -0.37 |
The correlation between HSGFX and RZV shifts across timeframes, from -0.38 (5 years) to -0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HSGFX vs. RZV — Risk / Return Rank
HSGFX
RZV
HSGFX vs. RZV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hussman Strategic Growth Fund (HSGFX) and Invesco S&P SmallCap 600® Pure Value ETF (RZV). 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.
| HSGFX | RZV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.12 | ||
| Sortino ratioReturn per unit of downside risk | -4.35 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.40 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.53 | 3.85 | -4.38 |
| Martin ratioReturn relative to average drawdown | -0.97 | 12.98 | -13.95 |
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Drawdowns
HSGFX vs. RZV - Drawdown Comparison
The maximum HSGFX drawdown since its inception was -60.61%, smaller than the maximum RZV drawdown of -77.11%. Use the drawdown chart below to compare losses from any high point for HSGFX and RZV.
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Drawdown Indicators
| HSGFX | RZV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.61% | -77.11% | +16.50% |
Max Drawdown (1Y)Largest decline over 1 year | -17.20% | -12.56% | -4.64% |
Max Drawdown (3Y)Largest decline over 3 years | -24.52% | -29.81% | +5.29% |
Max Drawdown (5Y)Largest decline over 5 years | -24.52% | -29.81% | +5.29% |
Max Drawdown (10Y)Largest decline over 10 years | -30.86% | -60.42% | +29.56% |
Current DrawdownCurrent decline from peak | -54.87% | -0.97% | -53.90% |
Average DrawdownAverage peak-to-trough decline | -27.04% | -13.50% | -13.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.44% | 3.71% | +5.73% |
Volatility
HSGFX vs. RZV - Volatility Comparison
The current volatility for Hussman Strategic Growth Fund (HSGFX) is 3.49%, while Invesco S&P SmallCap 600® Pure Value ETF (RZV) has a volatility of 5.09%. This indicates that HSGFX experiences smaller price fluctuations and is considered to be less risky than RZV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSGFX | RZV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.49% | 5.09% | -1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 10.40% | 13.81% | -3.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.89% | 20.11% | -7.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.43% | 24.09% | -12.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.90% | 26.89% | -15.99% |
HSGFX vs. RZV - Expense Ratio Comparison
HSGFX has a 1.15% expense ratio, which is higher than RZV's 0.35% expense ratio.
Dividends
HSGFX vs. RZV - Dividend Comparison
HSGFX's dividend yield for the trailing twelve months is around 2.46%, more than RZV's 1.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSGFX Hussman Strategic Growth Fund | 2.46% | 2.33% | 3.00% | 3.10% | 1.08% | 0.42% | 0.16% | 1.84% | 1.19% | 0.50% | 0.28% | 0.56% |
RZV Invesco S&P SmallCap 600® Pure Value ETF | 1.37% | 1.59% | 1.14% | 1.13% | 1.43% | 0.86% | 0.63% | 1.03% | 2.03% | 1.02% | 0.46% | 1.24% |
Frequently Asked Questions
HSGFX and RZV have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RZV has higher volatility (5.09%) compared to HSGFX (3.49%). In terms of maximum drawdown, HSGFX dropped -60.61% vs RZV's -77.11%.
RZV currently has the higher Sharpe Ratio (2.41 vs -0.71), 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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