HWSIX vs. IWM
HWSIX (Hotchkis & Wiley Small Cap Value Fund) and IWM (iShares Russell 2000 ETF) are both funds - HWSIX is a Small Cap Value Equities fund managed by Hotchkis & Wiley, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Over the past 10 years, HWSIX returned 10.83%/yr vs 11.68%/yr for IWM. Their correlation of 0.89 suggests significant overlap in exposure. HWSIX charges 1.06%/yr vs 0.19%/yr for IWM.
Performance
HWSIX vs. IWM - Performance Comparison
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Returns By Period
In the year-to-date period, HWSIX achieves a 15.44% return, which is significantly lower than IWM's 21.64% return. Over the past 10 years, HWSIX has underperformed IWM with an annualized return of 10.83%, while IWM has yielded a comparatively higher 11.68% annualized return.
HWSIX
- 1D
- 0.13%
- 1M
- 0.92%
- YTD
- 15.44%
- 6M
- 13.53%
- 1Y
- 23.92%
- 3Y*
- 11.33%
- 5Y*
- 10.41%
- 10Y*
- 10.83%
IWM
- 1D
- 0.88%
- 1M
- 4.83%
- YTD
- 21.64%
- 6M
- 18.08%
- 1Y
- 44.01%
- 3Y*
- 19.60%
- 5Y*
- 6.77%
- 10Y*
- 11.68%
HWSIX vs. IWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HWSIX Hotchkis & Wiley Small Cap Value Fund | 15.44% | 1.60% | 5.00% | 18.85% | 2.97% | 35.54% | -0.31% | 20.54% | -15.03% | 7.66% |
IWM iShares Russell 2000 ETF | 21.64% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 14.58% |
Correlation
The correlation between HWSIX and IWM 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 | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since May 26, 2000 | 0.89 |
The correlation between HWSIX and IWM shifts across timeframes, from 0.76 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HWSIX vs. IWM — Risk / Return Rank
HWSIX
IWM
HWSIX vs. IWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hotchkis & Wiley Small Cap Value Fund (HWSIX) and iShares Russell 2000 ETF (IWM). 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.
| HWSIX | IWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.36 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 4.01 | -1.60 |
| Martin ratioReturn relative to average drawdown | 7.90 | 14.19 | -6.28 |
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Drawdowns
HWSIX vs. IWM - Drawdown Comparison
The maximum HWSIX drawdown since its inception was -72.00%, which is greater than IWM's maximum drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for HWSIX and IWM.
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Drawdown Indicators
| HWSIX | IWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.00% | -59.05% | -12.95% |
Max Drawdown (1Y)Largest decline over 1 year | -10.01% | -11.03% | +1.02% |
Max Drawdown (3Y)Largest decline over 3 years | -26.92% | -27.50% | +0.58% |
Max Drawdown (5Y)Largest decline over 5 years | -26.92% | -31.91% | +4.99% |
Max Drawdown (10Y)Largest decline over 10 years | -53.67% | -41.13% | -12.54% |
Current DrawdownCurrent decline from peak | -2.59% | 0.00% | -2.59% |
Average DrawdownAverage peak-to-trough decline | -12.06% | -10.75% | -1.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 3.11% | -0.06% |
Volatility
HWSIX vs. IWM - Volatility Comparison
The current volatility for Hotchkis & Wiley Small Cap Value Fund (HWSIX) is 3.99%, while iShares Russell 2000 ETF (IWM) has a volatility of 6.47%. This indicates that HWSIX experiences smaller price fluctuations and is considered to be less risky than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HWSIX | IWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.99% | 6.47% | -2.48% |
Volatility (6M)Calculated over the trailing 6-month period | 11.14% | 14.28% | -3.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.15% | 19.75% | -2.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.50% | 22.60% | -1.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.64% | 23.09% | +1.55% |
HWSIX vs. IWM - Expense Ratio Comparison
HWSIX has a 1.06% expense ratio, which is higher than IWM's 0.19% expense ratio.
Dividends
HWSIX vs. IWM - Dividend Comparison
HWSIX's dividend yield for the trailing twelve months is around 0.87%, less than IWM's 0.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HWSIX Hotchkis & Wiley Small Cap Value Fund | 0.87% | 1.01% | 8.35% | 1.90% | 13.44% | 0.36% | 0.80% | 4.89% | 9.84% | 5.07% | 0.41% | 11.78% |
IWM iShares Russell 2000 ETF | 0.89% | 1.04% | 1.15% | 1.35% | 1.48% | 0.94% | 1.04% | 1.26% | 1.40% | 1.26% | 1.38% | 1.54% |
Frequently Asked Questions
HWSIX and IWM 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.
IWM has higher volatility (6.47%) compared to HWSIX (3.99%). In terms of maximum drawdown, HWSIX dropped -72.00% vs IWM's -59.05%.
IWM currently has the higher Sharpe Ratio (2.24 vs 1.41), 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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