HWSM vs. AVMV

Last updated Jun 5, 2026

HWSM (Hotchkis & Wiley SMID Cap Diversified Value ETF) and AVMV (Avantis U.S. Mid Cap Value ETF) are both Mid Cap Value Equities funds. Both are actively managed. Over the past year, HWSM returned 26.16% vs 27.02% for AVMV. Their correlation of 0.94 suggests significant overlap in exposure. HWSM charges 0.55%/yr vs 0.20%/yr for AVMV.

Performance

HWSM vs. AVMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM) and Avantis U.S. Mid Cap Value ETF (AVMV). 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 lower than AVMV's 12.62% return.

HWSM

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

AVMV

• 1D: 0.77%
• 1M: 1.60%
• YTD: 12.62%
• 6M: 13.21%
• 1Y: 27.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HWSM vs. AVMV - Yearly Performance Comparison

	2026 (YTD)	2025
HWSM Hotchkis & Wiley SMID Cap Diversified Value ETF	10.77%	11.54%
AVMV Avantis U.S. Mid Cap Value ETF	12.62%	16.95%

Correlation

The correlation between HWSM and AVMV is 0.93, 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	0.93
Correlation (All Time) Calculated using the full available price history since Apr 1, 2025	0.94

The correlation between HWSM and AVMV has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

Return for Risk

HWSM vs. AVMV — 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

AVMV

AVMV Risk / Return Rank: 63
AVMV Sharpe Ratio Rank: 59
AVMV Sortino Ratio Rank: 62
AVMV Omega Ratio Rank: 57
AVMV Calmar Ratio Rank: 72
AVMV Martin Ratio Rank: 65

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. AVMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM) and Avantis U.S. Mid Cap Value ETF (AVMV). 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	AVMV	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.96	-0.28
Sortino ratio: Return per unit of downside risk	2.51	2.84	-0.33
Omega ratio: Gain probability vs. loss probability	1.30	1.34	-0.04
Calmar ratio: Return relative to maximum drawdown	2.57	3.56	-0.99
Martin ratio: Return relative to average drawdown	8.61	11.71	-3.10
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. AVMV - Sharpe Ratio Comparison

The current HWSM Sharpe Ratio is 1.68, which is comparable to the AVMV Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of HWSM and AVMV, 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	AVMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.68	1.96	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	1.29	-0.33

Drawdowns

HWSM vs. AVMV - Drawdown Comparison

The maximum HWSM drawdown since its inception was -15.67%, smaller than the maximum AVMV drawdown of -24.24%. Use the drawdown chart below to compare losses from any high point for HWSM and AVMV.

Drawdown Indicators

	HWSM	AVMV	Difference
Max Drawdown Largest peak-to-trough decline	-15.67%	-24.24%	+8.57%
Max Drawdown (1Y) Largest decline over 1 year	-10.23%	-7.63%	-2.60%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.76%	-3.89%	+1.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	2.31%	+0.74%

Volatility

HWSM vs. AVMV - Volatility Comparison

Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM) has a higher volatility of 3.68% compared to Avantis U.S. Mid Cap Value ETF (AVMV) at 3.04%. This indicates that HWSM's price experiences larger fluctuations and is considered to be riskier than AVMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HWSM	AVMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	3.04%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	10.45%	9.49%	+0.96%
Volatility (1Y) Calculated over the trailing 1-year period	15.64%	13.84%	+1.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.58%	17.96%	+2.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.58%	17.96%	+2.62%

HWSM vs. AVMV - Expense Ratio Comparison

HWSM has a 0.55% expense ratio, which is higher than AVMV's 0.20% expense ratio.

Dividends

HWSM vs. AVMV - Dividend Comparison

HWSM's dividend yield for the trailing twelve months is around 1.20%, more than AVMV's 1.01% yield.

Position	TTM	2025	2024	2023
AVMV Avantis U.S. Mid Cap Value ETF	1.01%	1.20%	1.30%	0.25%
HWSM Hotchkis & Wiley SMID Cap Diversified Value ETF	1.20%	1.33%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HWSM and AVMV in my portfolio?

With a correlation of 0.93, HWSM and AVMV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, HWSM or AVMV?

HWSM has higher volatility (3.68%) compared to AVMV (3.04%). In terms of maximum drawdown, HWSM dropped -15.67% vs AVMV's -24.24%.

Which ETF is better, HWSM or AVMV?

On 1-year performance, AVMV leads with 27.02% vs 26.16% for HWSM. On fees, AVMV is cheaper at 0.20% per year. On volatility, AVMV has been the lower-risk option at 3.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HWSM or AVMV?

Over the 1-year period, AVMV has performed better with a 27.02% return vs 26.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HWSM or AVMV?

AVMV is cheaper with a 0.20% expense ratio, compared with 0.55% for HWSM.

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

HWSM has the higher dividend yield at 1.20%, compared with 1.01% for AVMV.

What is the main difference between HWSM and AVMV?

They also come from different issuers: Hotchkis & Wiley and Avantis. Their fees differ too: 0.55% for HWSM and 0.20% for AVMV.

Which has better risk-adjusted returns?

AVMV currently has the higher Sharpe Ratio (1.96 vs 1.68), 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.