HWAIX vs. EFV
HWAIX (Hotchkis & Wiley Value Opportunities Fund) and EFV (iShares MSCI EAFE Value ETF) are both funds - HWAIX is a Large Cap Value Equities fund managed by Hotchkis & Wiley, while EFV is a Foreign Large Cap Equities fund tracking the MSCI EAFE Value Index (Net). Over the past 10 years, HWAIX returned 13.10%/yr vs 10.59%/yr for EFV. A 0.77 correlation means they provide meaningful diversification when combined. HWAIX charges 0.94%/yr vs 0.31%/yr for EFV.
Performance
HWAIX vs. EFV - Performance Comparison
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Returns By Period
In the year-to-date period, HWAIX achieves a 4.87% return, which is significantly lower than EFV's 9.13% return. Over the past 10 years, HWAIX has outperformed EFV with an annualized return of 13.10%, while EFV has yielded a comparatively lower 10.59% annualized return.
HWAIX
- 1D
- -0.28%
- 1M
- -2.10%
- YTD
- 4.87%
- 6M
- 4.49%
- 1Y
- 14.21%
- 3Y*
- 14.70%
- 5Y*
- 11.41%
- 10Y*
- 13.10%
EFV
- 1D
- -1.18%
- 1M
- -0.92%
- YTD
- 9.13%
- 6M
- 8.96%
- 1Y
- 28.26%
- 3Y*
- 21.91%
- 5Y*
- 12.57%
- 10Y*
- 10.59%
HWAIX vs. EFV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HWAIX Hotchkis & Wiley Value Opportunities Fund | 4.87% | 14.56% | 11.59% | 26.74% | -7.88% | 34.33% | 5.35% | 25.62% | -11.01% | 13.82% |
EFV iShares MSCI EAFE Value ETF | 9.13% | 42.22% | 5.35% | 18.85% | -5.22% | 11.08% | -2.97% | 15.80% | -14.67% | 21.22% |
Correlation
The correlation between HWAIX and EFV 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 | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014 | 0.77 |
Over the past year, the correlation between HWAIX and EFV has dropped to 0.53 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.
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Return for Risk
HWAIX vs. EFV — Risk / Return Rank
HWAIX
EFV
HWAIX vs. EFV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hotchkis & Wiley Value Opportunities Fund (HWAIX) and iShares MSCI EAFE Value ETF (EFV). 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.
| HWAIX | EFV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.35 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 2.61 | -0.60 |
| Martin ratioReturn relative to average drawdown | 5.89 | 9.60 | -3.71 |
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Drawdowns
HWAIX vs. EFV - Drawdown Comparison
The maximum HWAIX drawdown since its inception was -41.28%, smaller than the maximum EFV drawdown of -63.94%. Use the drawdown chart below to compare losses from any high point for HWAIX and EFV.
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Drawdown Indicators
| HWAIX | EFV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.28% | -63.94% | +22.66% |
Max Drawdown (1Y)Largest decline over 1 year | -7.10% | -10.90% | +3.80% |
Max Drawdown (3Y)Largest decline over 3 years | -17.28% | -13.72% | -3.56% |
Max Drawdown (5Y)Largest decline over 5 years | -23.87% | -25.84% | +1.97% |
Max Drawdown (10Y)Largest decline over 10 years | -41.28% | -43.16% | +1.88% |
Current DrawdownCurrent decline from peak | -6.30% | -2.52% | -3.78% |
Average DrawdownAverage peak-to-trough decline | -5.61% | -14.79% | +9.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 2.95% | -0.54% |
Volatility
HWAIX vs. EFV - Volatility Comparison
Hotchkis & Wiley Value Opportunities Fund (HWAIX) has a higher volatility of 4.97% compared to iShares MSCI EAFE Value ETF (EFV) at 4.20%. This indicates that HWAIX's price experiences larger fluctuations and is considered to be riskier than EFV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HWAIX | EFV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.97% | 4.20% | +0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 9.99% | 12.01% | -2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.41% | 14.50% | -1.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.12% | 15.98% | +2.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.47% | 17.53% | +1.94% |
HWAIX vs. EFV - Expense Ratio Comparison
HWAIX has a 0.94% expense ratio, which is higher than EFV's 0.31% expense ratio.
Dividends
HWAIX vs. EFV - Dividend Comparison
HWAIX's dividend yield for the trailing twelve months is around 3.52%, less than EFV's 4.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EFV iShares MSCI EAFE Value ETF | 4.81% | 4.16% | 4.66% | 4.36% | 4.17% | 4.07% | 2.42% | 4.62% | 4.56% | 3.56% | 3.28% | 3.59% |
HWAIX Hotchkis & Wiley Value Opportunities Fund | 3.52% | 3.69% | 10.07% | 8.39% | 2.54% | 13.72% | 2.52% | 2.35% | 11.39% | 3.19% | 2.22% | 17.20% |
Frequently Asked Questions
HWAIX and EFV 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.
HWAIX has higher volatility (4.97%) compared to EFV (4.20%). In terms of maximum drawdown, HWAIX dropped -41.28% vs EFV's -63.94%.
EFV currently has the higher Sharpe Ratio (1.96 vs 1.06), 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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