HVEIX vs. BLUEX

Last updated Jun 4, 2026

HVEIX (HVIA Equity Fund) and BLUEX (AMG Veritas Global Real Return Fund) are both Large Cap Growth Equities funds. Over the past 5 years, HVEIX returned 11.86%/yr vs 0.30%/yr for BLUEX. A 0.75 correlation means they provide meaningful diversification when combined. HVEIX charges 0.99%/yr vs 1.15%/yr for BLUEX.

Performance

HVEIX vs. BLUEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HVIA Equity Fund (HVEIX) and AMG Veritas Global Real Return Fund (BLUEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HVEIX achieves a 8.96% return, which is significantly higher than BLUEX's -6.58% return.

HVEIX

• 1D: 0.51%
• 1M: 4.47%
• YTD: 8.96%
• 6M: 8.90%
• 1Y: 26.96%
• 3Y*: 19.15%
• 5Y*: 11.86%
• 10Y*: —

BLUEX

• 1D: -1.34%
• 1M: 0.16%
• YTD: -6.58%
• 6M: -6.15%
• 1Y: -6.22%
• 3Y*: 3.42%
• 5Y*: 0.30%
• 10Y*: 9.39%

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

HVEIX vs. BLUEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HVEIX HVIA Equity Fund	8.96%	16.70%	17.14%	27.68%	-20.27%	28.95%	26.17%	29.81%	-6.07%	21.73%
BLUEX AMG Veritas Global Real Return Fund	-6.58%	4.45%	7.24%	14.35%	-14.30%	3.22%	34.74%	35.34%	-4.91%	26.64%

Correlation

The correlation between HVEIX and BLUEX is 0.53, 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	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.75

Over the past year, the correlation between HVEIX and BLUEX has dropped to 0.53 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

Return for Risk

HVEIX vs. BLUEX — Risk / Return Rank

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

HVEIX

HVEIX Risk / Return Rank: 45
HVEIX Sharpe Ratio Rank: 50
HVEIX Sortino Ratio Rank: 45
HVEIX Omega Ratio Rank: 45
HVEIX Calmar Ratio Rank: 42
HVEIX Martin Ratio Rank: 45

BLUEX

BLUEX Risk / Return Rank: 1
BLUEX Sharpe Ratio Rank: 1
BLUEX Sortino Ratio Rank: 1
BLUEX Omega Ratio Rank: 1
BLUEX Calmar Ratio Rank: 1
BLUEX Martin Ratio Rank: 1

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.

HVEIX vs. BLUEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HVIA Equity Fund (HVEIX) and AMG Veritas Global Real Return Fund (BLUEX). 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.

	HVEIX	BLUEX	Difference
Sharpe ratio: Return per unit of total volatility	2.09	-0.67	+2.75
Sortino ratio: Return per unit of downside risk	2.83	-0.88	+3.71
Omega ratio: Gain probability vs. loss probability	1.37	0.90	+0.47
Calmar ratio: Return relative to maximum drawdown	2.46	-0.55	+3.01
Martin ratio: Return relative to average drawdown	9.49	-1.37	+10.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HVEIX vs. BLUEX - Sharpe Ratio Comparison

The current HVEIX Sharpe Ratio is 2.09, which is higher than the BLUEX Sharpe Ratio of -0.67. The chart below compares the historical Sharpe Ratios of HVEIX and BLUEX, 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

	HVEIX	BLUEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	-0.67	+2.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.03	+0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.49	+0.30

Drawdowns

HVEIX vs. BLUEX - Drawdown Comparison

The maximum HVEIX drawdown since its inception was -30.61%, smaller than the maximum BLUEX drawdown of -54.27%. Use the drawdown chart below to compare losses from any high point for HVEIX and BLUEX.

Drawdown Indicators

	HVEIX	BLUEX	Difference
Max Drawdown Largest peak-to-trough decline	-30.61%	-54.27%	+23.66%
Max Drawdown (1Y) Largest decline over 1 year	-11.43%	-12.19%	+0.76%
Max Drawdown (3Y) Largest decline over 3 years	-21.65%	-12.19%	-9.46%
Max Drawdown (5Y) Largest decline over 5 years	-27.74%	-21.87%	-5.87%
Max Drawdown (10Y) Largest decline over 10 years	—	-29.06%	—
Current Drawdown Current decline from peak	0.00%	-8.53%	+8.53%
Average Drawdown Average peak-to-trough decline	-5.20%	-13.37%	+8.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	4.85%	-1.89%

Volatility

HVEIX vs. BLUEX - Volatility Comparison

The current volatility for HVIA Equity Fund (HVEIX) is 2.89%, while AMG Veritas Global Real Return Fund (BLUEX) has a volatility of 3.48%. This indicates that HVEIX experiences smaller price fluctuations and is considered to be less risky than BLUEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HVEIX	BLUEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.89%	3.48%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	10.30%	7.75%	+2.55%
Volatility (1Y) Calculated over the trailing 1-year period	13.50%	9.98%	+3.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.07%	10.62%	+7.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.71%	16.59%	+2.12%

HVEIX vs. BLUEX - Expense Ratio Comparison

HVEIX has a 0.99% expense ratio, which is lower than BLUEX's 1.15% expense ratio.

Dividends

HVEIX vs. BLUEX - Dividend Comparison

HVEIX's dividend yield for the trailing twelve months is around 7.10%, more than BLUEX's 0.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BLUEX AMG Veritas Global Real Return Fund	0.33%	0.31%	0.29%	0.03%	11.84%	27.20%	25.43%	13.71%	13.40%	0.00%	0.00%	0.24%
HVEIX HVIA Equity Fund	7.10%	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 BLUEX in my portfolio?

HVEIX and BLUEX have a correlation of 0.53, 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 BLUEX?

BLUEX has higher volatility (3.48%) compared to HVEIX (2.89%). In terms of maximum drawdown, HVEIX dropped -30.61% vs BLUEX's -54.27%.

Which has better risk-adjusted returns?

HVEIX currently has the higher Sharpe Ratio (2.09 vs -0.67), 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.