HWSAX vs. KSDIX

Last updated Jun 4, 2026

HWSAX (Hotchkis & Wiley Small Cap Value Fund Class A) and KSDIX (Keeley Small Cap Dividend Value Fund) are both Small Cap Value Equities funds. Over the past 10 years, HWSAX returned 10.74%/yr vs 9.51%/yr for KSDIX. Their correlation of 0.92 suggests significant overlap in exposure. HWSAX charges 1.21%/yr vs 1.17%/yr for KSDIX.

Performance

HWSAX vs. KSDIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hotchkis & Wiley Small Cap Value Fund Class A (HWSAX) and Keeley Small Cap Dividend Value Fund (KSDIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HWSAX achieves a 17.59% return, which is significantly higher than KSDIX's 14.68% return. Over the past 10 years, HWSAX has outperformed KSDIX with an annualized return of 10.74%, while KSDIX has yielded a comparatively lower 9.51% annualized return.

HWSAX

• 1D: 1.03%
• 1M: 2.96%
• YTD: 17.59%
• 6M: 15.77%
• 1Y: 28.62%
• 3Y*: 12.84%
• 5Y*: 9.35%
• 10Y*: 10.74%

KSDIX

• 1D: 0.84%
• 1M: -0.57%
• YTD: 14.68%
• 6M: 13.10%
• 1Y: 26.40%
• 3Y*: 15.68%
• 5Y*: 7.55%
• 10Y*: 9.51%

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

HWSAX vs. KSDIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HWSAX Hotchkis & Wiley Small Cap Value Fund Class A	17.59%	1.38%	4.77%	18.56%	2.81%	35.32%	-0.50%	20.26%	-15.23%	7.39%
KSDIX Keeley Small Cap Dividend Value Fund	14.68%	5.20%	14.43%	10.25%	-5.67%	24.94%	3.89%	22.68%	-16.26%	7.64%

Correlation

The correlation between HWSAX and KSDIX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 3, 2009	0.92

The correlation between HWSAX and KSDIX shifts across timeframes, from 0.80 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HWSAX vs. KSDIX — Risk / Return Rank

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

HWSAX

HWSAX Risk / Return Rank: 46
HWSAX Sharpe Ratio Rank: 39
HWSAX Sortino Ratio Rank: 38
HWSAX Omega Ratio Rank: 38
HWSAX Calmar Ratio Rank: 65
HWSAX Martin Ratio Rank: 49

KSDIX

KSDIX Risk / Return Rank: 49
KSDIX Sharpe Ratio Rank: 39
KSDIX Sortino Ratio Rank: 40
KSDIX Omega Ratio Rank: 35
KSDIX Calmar Ratio Rank: 74
KSDIX Martin Ratio Rank: 55

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.

HWSAX vs. KSDIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hotchkis & Wiley Small Cap Value Fund Class A (HWSAX) and Keeley Small Cap Dividend Value Fund (KSDIX). 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.

	HWSAX	KSDIX	Difference
Sharpe ratio: Return per unit of total volatility	1.82	1.81	+0.01
Sortino ratio: Return per unit of downside risk	2.58	2.67	-0.08
Omega ratio: Gain probability vs. loss probability	1.33	1.31	+0.01
Calmar ratio: Return relative to maximum drawdown	3.12	3.36	-0.24
Martin ratio: Return relative to average drawdown	10.23	11.15	-0.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HWSAX vs. KSDIX - Sharpe Ratio Comparison

The current HWSAX Sharpe Ratio is 1.82, which is comparable to the KSDIX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of HWSAX and KSDIX, 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

	HWSAX	KSDIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.82	1.81	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.40	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.42	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.51	-0.03

Drawdowns

HWSAX vs. KSDIX - Drawdown Comparison

The maximum HWSAX drawdown since its inception was -72.14%, which is greater than KSDIX's maximum drawdown of -48.82%. Use the drawdown chart below to compare losses from any high point for HWSAX and KSDIX.

Drawdown Indicators

	HWSAX	KSDIX	Difference
Max Drawdown Largest peak-to-trough decline	-72.14%	-48.82%	-23.32%
Max Drawdown (1Y) Largest decline over 1 year	-10.06%	-8.40%	-1.66%
Max Drawdown (3Y) Largest decline over 3 years	-26.98%	-25.00%	-1.98%
Max Drawdown (5Y) Largest decline over 5 years	-26.98%	-25.00%	-1.98%
Max Drawdown (10Y) Largest decline over 10 years	-53.82%	-48.82%	-5.00%
Current Drawdown Current decline from peak	0.00%	-1.93%	+1.93%
Average Drawdown Average peak-to-trough decline	-10.96%	-6.13%	-4.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	2.53%	+0.53%

Volatility

HWSAX vs. KSDIX - Volatility Comparison

The current volatility for Hotchkis & Wiley Small Cap Value Fund Class A (HWSAX) is 3.76%, while Keeley Small Cap Dividend Value Fund (KSDIX) has a volatility of 4.16%. This indicates that HWSAX experiences smaller price fluctuations and is considered to be less risky than KSDIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HWSAX	KSDIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.76%	4.16%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	11.25%	10.57%	+0.68%
Volatility (1Y) Calculated over the trailing 1-year period	17.23%	15.61%	+1.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.54%	19.19%	+2.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.62%	22.60%	+2.02%

HWSAX vs. KSDIX - Expense Ratio Comparison

HWSAX has a 1.21% expense ratio, which is higher than KSDIX's 1.17% expense ratio.

Dividends

HWSAX vs. KSDIX - Dividend Comparison

HWSAX's dividend yield for the trailing twelve months is around 0.59%, less than KSDIX's 3.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HWSAX Hotchkis & Wiley Small Cap Value Fund Class A	0.59%	0.69%	8.19%	1.79%	13.39%	0.22%	0.63%	4.62%	9.45%	4.80%	0.00%	11.67%
KSDIX Keeley Small Cap Dividend Value Fund	3.99%	5.03%	10.24%	5.43%	14.51%	12.44%	1.72%	3.79%	11.69%	7.51%	3.12%	6.45%

Frequently Asked Questions

Can I hold both HWSAX and KSDIX in my portfolio?

HWSAX and KSDIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HWSAX or KSDIX?

KSDIX has higher volatility (4.16%) compared to HWSAX (3.76%). In terms of maximum drawdown, HWSAX dropped -72.14% vs KSDIX's -48.82%.

Which has better risk-adjusted returns?

HWSAX currently has the higher Sharpe Ratio (1.82 vs 1.81), 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.