HVEIX vs. ADX

Last updated Jul 31, 2026

HVEIX (HVIA Equity Fund) and ADX (Adams Diversified Equity Fund, Inc.) are both mutual funds - HVEIX is a Large Cap Growth Equities fund managed by HVIA, while ADX is a Large Cap Blend Equities fund actively managed by Adams Funds. Over the past 5 years, HVEIX returned 9.85%/yr vs 16.76%/yr for ADX. Their correlation of 0.87 means they have usually moved in the same direction. HVEIX charges 0.99%/yr vs 0.59%/yr for ADX.

Performance

HVEIX vs. ADX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HVIA Equity Fund (HVEIX) and Adams Diversified Equity Fund, Inc. (ADX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HVEIX achieves a 5.95% return, which is significantly lower than ADX's 14.66% return.

HVEIX

• 1D: -1.40%
• 1M: -2.80%
• 6M: 2.74%
• YTD: 5.95%
• 1Y: 14.53%
• 3Y*: 15.29%
• 5Y*: 9.85%
• 10Y*: —
• ALL TIME*: 14.20%

ADX

• 1D: 2.56%
• 1M: 0.57%
• 6M: 12.53%
• YTD: 14.66%
• 1Y: 26.46%
• 3Y*: 25.78%
• 5Y*: 16.76%
• 10Y*: 18.08%
• ALL TIME*: 8.60%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ADX Adams Diversified Equity Fund, Inc.	$9.04M	$7.79M	$6.94M
HVEIX HVIA Equity Fund	$0.00	$0.00	$0.00

HVEIX vs. ADX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HVEIX HVIA Equity Fund	5.95%	16.70%	17.14%	27.68%	-20.27%	28.95%	26.17%	29.81%	-6.07%	21.73%
ADX Adams Diversified Equity Fund, Inc.	14.66%	26.03%	28.31%	31.49%	-19.82%	29.69%	17.28%	36.75%	-3.58%	29.61%

Correlation

The correlation between HVEIX and ADX is 0.70, 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.	0.70
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.87

The correlation between HVEIX and ADX shifts across timeframes, from 0.70 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HVEIX vs. ADX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HVEIX

HVEIX Risk / Return Rank: 32
HVEIX Sharpe Ratio Rank: 33
HVEIX Sortino Ratio Rank: 32
HVEIX Omega Ratio Rank: 31
HVEIX Calmar Ratio Rank: 29
HVEIX Martin Ratio Rank: 34

ADX

ADX Risk / Return Rank: 78
ADX Sharpe Ratio Rank: 75
ADX Sortino Ratio Rank: 75
ADX Omega Ratio Rank: 70
ADX Calmar Ratio Rank: 78
ADX Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HVEIX vs. ADX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HVIA Equity Fund (HVEIX) and Adams Diversified Equity Fund, Inc. (ADX). 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.

	HVEIX	ADX	Difference
Sharpe ratio: Return per unit of total volatility	1.03	1.79	-0.77
Sortino ratio: Return per unit of downside risk	1.47	2.58	-1.11
Omega ratio: Gain probability vs. loss probability	1.18	1.31	-0.13
Calmar ratio: Return relative to maximum drawdown	1.27	2.62	-1.35
Martin ratio: Return relative to average drawdown	4.75	12.92	-8.17

HVEIX vs. ADX - Sharpe Ratio Comparison

The current HVEIX Sharpe Ratio is 1.03, which is lower than the ADX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of HVEIX and ADX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HVEIX vs. ADX - Drawdown Comparison

The maximum HVEIX drawdown since its inception was -30.61%, smaller than the maximum ADX drawdown of -71.60%. Use the drawdown chart below to compare losses from any high point for HVEIX and ADX.

Drawdown Indicators

	HVEIX	ADX	Difference
Max Drawdown Largest peak-to-trough decline	-30.61%	-71.60%	+40.99%
Max Drawdown (1Y) Largest decline over 1 year	-11.43%	-10.16%	-1.27%
Max Drawdown (3Y) Largest decline over 3 years	-21.65%	-18.29%	-3.36%
Max Drawdown (5Y) Largest decline over 5 years	-27.74%	-25.07%	-2.67%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.17%	—
Current Drawdown Current decline from peak	-3.09%	-2.55%	-0.54%
Average Drawdown Average peak-to-trough decline	-5.14%	-22.06%	+16.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	2.05%	+1.00%

Volatility

HVEIX vs. ADX - Volatility Comparison

The current volatility for HVIA Equity Fund (HVEIX) is 2.85%, while Adams Diversified Equity Fund, Inc. (ADX) has a volatility of 4.78%. This indicates that HVEIX experiences smaller price fluctuations and is considered to be less risky than ADX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HVEIX	ADX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	4.78%	-1.93%
Volatility (6M) Calculated over the trailing 6-month period	10.82%	11.83%	-1.01%
Volatility (1Y) Calculated over the trailing 1-year period	14.12%	14.81%	-0.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.16%	17.49%	+0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.64%	18.07%	+0.57%

HVEIX vs. ADX - Expense Ratio Comparison

HVEIX has a 0.99% expense ratio, which is higher than ADX's 0.59% expense ratio.

Dividends

HVEIX vs. ADX - Dividend Comparison

HVEIX's dividend yield for the trailing twelve months is around 7.30%, less than ADX's 7.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADX Adams Diversified Equity Fund, Inc.	7.58%	7.93%	12.38%	7.34%	7.36%	15.35%	6.54%	9.00%	15.85%	9.18%	7.79%	7.17%
HVEIX HVIA Equity Fund	7.30%	7.74%	2.57%	1.67%	9.07%	2.55%	0.49%	0.65%	3.48%	0.71%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HVEIX and ADX in my portfolio?

HVEIX and ADX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HVEIX or ADX?

ADX has higher volatility (4.78%) compared to HVEIX (2.85%). In terms of maximum drawdown, HVEIX dropped -30.61% vs ADX's -71.60%.

Which has better risk-adjusted returns?

ADX currently has the higher Sharpe Ratio (1.79 vs 1.03), 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.