HWSM vs. AUSF

Last updated Jun 5, 2026

HWSM (Hotchkis & Wiley SMID Cap Diversified Value ETF) and AUSF (Global X Adaptive U.S. Factor ETF) are both Mid Cap Value Equities funds. HWSM is actively managed, while AUSF is passively managed. Over the past year, HWSM returned 26.16% vs 16.38% for AUSF. Their correlation of 0.86 suggests significant overlap in exposure. HWSM charges 0.55%/yr vs 0.27%/yr for AUSF.

Performance

HWSM vs. AUSF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM) and Global X Adaptive U.S. Factor ETF (AUSF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HWSM achieves a 10.77% return, which is significantly higher than AUSF's 7.48% return.

HWSM

• 1D: 1.25%
• 1M: 4.08%
• YTD: 10.77%
• 6M: 12.03%
• 1Y: 26.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AUSF

• 1D: 0.72%
• 1M: 0.77%
• YTD: 7.48%
• 6M: 8.40%
• 1Y: 16.38%
• 3Y*: 20.67%
• 5Y*: 12.87%
• 10Y*: —

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

HWSM vs. AUSF - Yearly Performance Comparison

	2026 (YTD)	2025
HWSM Hotchkis & Wiley SMID Cap Diversified Value ETF	10.77%	11.54%
AUSF Global X Adaptive U.S. Factor ETF	7.48%	8.67%

Correlation

The correlation between HWSM and AUSF is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (All Time) Calculated using the full available price history since Apr 1, 2025	0.86

The correlation between HWSM and AUSF has been stable across timeframes, ranging from 0.84 to 0.86 - a consistent structural relationship.

Return for Risk

HWSM vs. AUSF — Risk / Return Rank

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

HWSM

HWSM Risk / Return Rank: 51
HWSM Sharpe Ratio Rank: 49
HWSM Sortino Ratio Rank: 53
HWSM Omega Ratio Rank: 48
HWSM Calmar Ratio Rank: 53
HWSM Martin Ratio Rank: 51

AUSF

AUSF Risk / Return Rank: 50
AUSF Sharpe Ratio Rank: 48
AUSF Sortino Ratio Rank: 49
AUSF Omega Ratio Rank: 45
AUSF Calmar Ratio Rank: 58
AUSF Martin Ratio Rank: 50

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.

HWSM vs. AUSF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM) and Global X Adaptive U.S. Factor ETF (AUSF). 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.

	HWSM	AUSF	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.63	+0.06
Sortino ratio: Return per unit of downside risk	2.51	2.35	+0.16
Omega ratio: Gain probability vs. loss probability	1.30	1.28	+0.02
Calmar ratio: Return relative to maximum drawdown	2.57	2.82	-0.25
Martin ratio: Return relative to average drawdown	8.61	8.17	+0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HWSM vs. AUSF - Sharpe Ratio Comparison

The current HWSM Sharpe Ratio is 1.68, which is comparable to the AUSF Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of HWSM and AUSF, 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

	HWSM	AUSF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.68	1.63	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.95	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	0.65	+0.31

Drawdowns

HWSM vs. AUSF - Drawdown Comparison

The maximum HWSM drawdown since its inception was -15.67%, smaller than the maximum AUSF drawdown of -44.25%. Use the drawdown chart below to compare losses from any high point for HWSM and AUSF.

Drawdown Indicators

	HWSM	AUSF	Difference
Max Drawdown Largest peak-to-trough decline	-15.67%	-44.25%	+28.58%
Max Drawdown (1Y) Largest decline over 1 year	-10.23%	-5.84%	-4.39%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.29%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.23%	—
Current Drawdown Current decline from peak	0.00%	-1.56%	+1.56%
Average Drawdown Average peak-to-trough decline	-2.76%	-4.22%	+1.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	2.01%	+1.04%

Volatility

HWSM vs. AUSF - Volatility Comparison

Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM) has a higher volatility of 3.68% compared to Global X Adaptive U.S. Factor ETF (AUSF) at 2.51%. This indicates that HWSM's price experiences larger fluctuations and is considered to be riskier than AUSF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HWSM	AUSF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	2.51%	+1.17%
Volatility (6M) Calculated over the trailing 6-month period	10.45%	6.68%	+3.77%
Volatility (1Y) Calculated over the trailing 1-year period	15.64%	10.13%	+5.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.58%	13.65%	+6.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.58%	19.07%	+1.51%

HWSM vs. AUSF - Expense Ratio Comparison

HWSM has a 0.55% expense ratio, which is higher than AUSF's 0.27% expense ratio.

Dividends

HWSM vs. AUSF - Dividend Comparison

HWSM's dividend yield for the trailing twelve months is around 1.20%, less than AUSF's 2.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AUSF Global X Adaptive U.S. Factor ETF	2.74%	2.78%	2.63%	1.83%	2.51%	2.22%	2.95%	4.02%	1.46%
HWSM Hotchkis & Wiley SMID Cap Diversified Value ETF	1.20%	1.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HWSM and AUSF in my portfolio?

HWSM and AUSF have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HWSM or AUSF?

HWSM has higher volatility (3.68%) compared to AUSF (2.51%). In terms of maximum drawdown, HWSM dropped -15.67% vs AUSF's -44.25%.

Which ETF is better, HWSM or AUSF?

On 1-year performance, HWSM leads with 26.16% vs 16.38% for AUSF. On fees, AUSF is cheaper at 0.27% per year. On volatility, AUSF has been the lower-risk option at 2.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HWSM or AUSF?

Over the 1-year period, HWSM has performed better with a 26.16% return vs 16.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HWSM or AUSF?

AUSF is cheaper with a 0.27% expense ratio, compared with 0.55% for HWSM.

Which ETF pays a higher dividend yield, HWSM or AUSF?

AUSF has the higher dividend yield at 2.74%, compared with 1.20% for HWSM.

What is the main difference between HWSM and AUSF?

They also come from different issuers: Hotchkis & Wiley and Global X. Their fees differ too: 0.55% for HWSM and 0.27% for AUSF.

Which has better risk-adjusted returns?

HWSM currently has the higher Sharpe Ratio (1.68 vs 1.63), 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.