HUMDX vs. HRTVX

Last updated Jun 5, 2026

HUMDX (Huber Mid Cap Value Fund) and HRTVX (Heartland Value Fund) are both Small Cap Value Equities funds. Over the past 10 years, HUMDX returned 7.76%/yr vs 11.76%/yr for HRTVX. Their correlation of 0.86 suggests significant overlap in exposure. HUMDX charges 1.40%/yr vs 1.04%/yr for HRTVX.

Performance

HUMDX vs. HRTVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Huber Mid Cap Value Fund (HUMDX) and Heartland Value Fund (HRTVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HUMDX achieves a 9.56% return, which is significantly lower than HRTVX's 18.62% return. Over the past 10 years, HUMDX has underperformed HRTVX with an annualized return of 7.76%, while HRTVX has yielded a comparatively higher 11.76% annualized return.

HUMDX

• 1D: -1.87%
• 1M: -0.46%
• YTD: 9.56%
• 6M: 12.31%
• 1Y: 28.58%
• 3Y*: 14.15%
• 5Y*: 5.58%
• 10Y*: 7.76%

HRTVX

• 1D: -1.21%
• 1M: 0.53%
• YTD: 18.62%
• 6M: 20.08%
• 1Y: 40.34%
• 3Y*: 21.71%
• 5Y*: 11.09%
• 10Y*: 11.76%

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

HUMDX vs. HRTVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HUMDX Huber Mid Cap Value Fund	9.56%	7.65%	13.40%	10.56%	-7.13%	26.51%	-8.19%	25.70%	-18.40%	15.04%
HRTVX Heartland Value Fund	18.62%	15.94%	15.76%	17.15%	-10.04%	21.86%	13.12%	17.93%	-12.10%	8.45%

Correlation

The correlation between HUMDX and HRTVX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.86

The correlation between HUMDX and HRTVX shifts across timeframes, from 0.76 (1 year) to 0.87 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

HUMDX vs. HRTVX — Risk / Return Rank

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

HUMDX

HUMDX Risk / Return Rank: 40
HUMDX Sharpe Ratio Rank: 39
HUMDX Sortino Ratio Rank: 37
HUMDX Omega Ratio Rank: 36
HUMDX Calmar Ratio Rank: 47
HUMDX Martin Ratio Rank: 43

HRTVX

HRTVX Risk / Return Rank: 71
HRTVX Sharpe Ratio Rank: 66
HRTVX Sortino Ratio Rank: 68
HRTVX Omega Ratio Rank: 56
HRTVX Calmar Ratio Rank: 87
HRTVX Martin Ratio Rank: 79

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.

HUMDX vs. HRTVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Huber Mid Cap Value Fund (HUMDX) 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.

	HUMDX	HRTVX	Difference
Sharpe ratio: Return per unit of total volatility	1.76	2.37	-0.61
Sortino ratio: Return per unit of downside risk	2.47	3.41	-0.94
Omega ratio: Gain probability vs. loss probability	1.31	1.41	-0.10
Calmar ratio: Return relative to maximum drawdown	2.56	4.19	-1.64
Martin ratio: Return relative to average drawdown	8.84	14.45	-5.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HUMDX vs. HRTVX - Sharpe Ratio Comparison

The current HUMDX Sharpe Ratio is 1.76, which is comparable to the HRTVX Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of HUMDX and HRTVX, 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

	HUMDX	HRTVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	2.37	-0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	0.57	-0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.56	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.59	-0.25

Drawdowns

HUMDX vs. HRTVX - Drawdown Comparison

The maximum HUMDX drawdown since its inception was -50.39%, smaller than the maximum HRTVX drawdown of -61.68%. Use the drawdown chart below to compare losses from any high point for HUMDX and HRTVX.

Drawdown Indicators

	HUMDX	HRTVX	Difference
Max Drawdown Largest peak-to-trough decline	-50.39%	-61.68%	+11.29%
Max Drawdown (1Y) Largest decline over 1 year	-10.87%	-9.50%	-1.37%
Max Drawdown (3Y) Largest decline over 3 years	-25.16%	-23.17%	-1.99%
Max Drawdown (5Y) Largest decline over 5 years	-25.16%	-23.17%	-1.99%
Max Drawdown (10Y) Largest decline over 10 years	-50.39%	-46.31%	-4.08%
Current Drawdown Current decline from peak	-1.87%	-1.33%	-0.54%
Average Drawdown Average peak-to-trough decline	-8.88%	-9.04%	+0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	2.75%	+0.39%

Volatility

HUMDX vs. HRTVX - Volatility Comparison

The current volatility for Huber Mid Cap Value Fund (HUMDX) is 4.01%, while Heartland Value Fund (HRTVX) has a volatility of 4.43%. This indicates that HUMDX 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.

Volatility by Period

	HUMDX	HRTVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	4.43%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	11.66%	11.74%	-0.08%
Volatility (1Y) Calculated over the trailing 1-year period	15.87%	16.88%	-1.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.49%	19.50%	+0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.54%	21.04%	+1.50%

HUMDX vs. HRTVX - Expense Ratio Comparison

HUMDX has a 1.40% expense ratio, which is higher than HRTVX's 1.04% expense ratio.

Dividends

HUMDX vs. HRTVX - Dividend Comparison

HUMDX's dividend yield for the trailing twelve months is around 0.70%, less than HRTVX's 7.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HRTVX Heartland Value Fund	7.83%	9.29%	8.91%	5.65%	3.01%	13.50%	0.76%	3.12%	7.26%	6.43%	3.56%	8.25%
HUMDX Huber Mid Cap Value Fund	0.70%	0.76%	1.02%	1.14%	2.01%	0.95%	0.66%	0.00%	1.16%	0.61%	2.34%	0.00%

Frequently Asked Questions

Can I hold both HUMDX and HRTVX in my portfolio?

HUMDX and HRTVX 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.

Which is riskier, HUMDX or HRTVX?

HRTVX has higher volatility (4.43%) compared to HUMDX (4.01%). In terms of maximum drawdown, HUMDX dropped -50.39% vs HRTVX's -61.68%.

Which has better risk-adjusted returns?

HRTVX currently has the higher Sharpe Ratio (2.37 vs 1.76), 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.