HWSM vs. VEGI
HWSM (Hotchkis & Wiley SMID Cap Diversified Value ETF) and VEGI (iShares MSCI Agriculture Producers ETF) are both Mid Cap Value Equities funds. HWSM is actively managed, while VEGI is passively managed. Over the past year, HWSM returned 26.16% vs 14.32% for VEGI. A 0.57 correlation means they provide meaningful diversification when combined. HWSM charges 0.55%/yr vs 0.39%/yr for VEGI.
Performance
HWSM vs. VEGI - Performance Comparison
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Returns By Period
In the year-to-date period, HWSM achieves a 10.77% return, which is significantly lower than VEGI's 16.20% return.
HWSM
- 1D
- 1.25%
- 1M
- 4.08%
- YTD
- 10.77%
- 6M
- 12.03%
- 1Y
- 26.16%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VEGI
- 1D
- -0.66%
- 1M
- -2.63%
- YTD
- 16.20%
- 6M
- 15.37%
- 1Y
- 14.32%
- 3Y*
- 8.08%
- 5Y*
- 3.48%
- 10Y*
- 8.32%
HWSM vs. VEGI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HWSM Hotchkis & Wiley SMID Cap Diversified Value ETF | 10.77% | 11.54% |
VEGI iShares MSCI Agriculture Producers ETF | 16.20% | 6.37% |
Correlation
The correlation between HWSM and VEGI is 0.51, 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 | 0.51 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2025 | 0.57 |
The correlation between HWSM and VEGI has been stable across timeframes, ranging from 0.51 to 0.57 - a consistent structural relationship.
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Return for Risk
HWSM vs. VEGI — Risk / Return Rank
HWSM
VEGI
HWSM vs. VEGI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM) and iShares MSCI Agriculture Producers ETF (VEGI). 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 | VEGI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.18 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 1.92 | +0.65 |
| Martin ratioReturn relative to average drawdown | 8.61 | 3.68 | +4.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HWSM | VEGI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.68 | 0.97 | +0.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.20 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.44 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.96 | 0.34 | +0.62 |
Drawdowns
HWSM vs. VEGI - Drawdown Comparison
The maximum HWSM drawdown since its inception was -15.67%, smaller than the maximum VEGI drawdown of -37.37%. Use the drawdown chart below to compare losses from any high point for HWSM and VEGI.
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Drawdown Indicators
| HWSM | VEGI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.67% | -37.37% | +21.70% |
Max Drawdown (1Y)Largest decline over 1 year | -10.23% | -7.49% | -2.74% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.71% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.86% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.37% | — |
Current DrawdownCurrent decline from peak | 0.00% | -4.96% | +4.96% |
Average DrawdownAverage peak-to-trough decline | -2.76% | -9.82% | +7.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 3.90% | -0.85% |
Volatility
HWSM vs. VEGI - Volatility Comparison
The current volatility for Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM) is 3.68%, while iShares MSCI Agriculture Producers ETF (VEGI) has a volatility of 4.49%. This indicates that HWSM experiences smaller price fluctuations and is considered to be less risky than VEGI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HWSM | VEGI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.68% | 4.49% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 10.45% | 11.82% | -1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.64% | 14.77% | +0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.58% | 17.88% | +2.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.58% | 18.94% | +1.64% |
HWSM vs. VEGI - Expense Ratio Comparison
HWSM has a 0.55% expense ratio, which is higher than VEGI's 0.39% expense ratio.
Dividends
HWSM vs. VEGI - Dividend Comparison
HWSM's dividend yield for the trailing twelve months is around 1.20%, less than VEGI's 2.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
VEGI iShares MSCI Agriculture Producers ETF | 2.01% | 2.33% | 2.62% | 2.54% | 1.49% | 1.46% | 1.55% | 1.84% | 2.02% | 1.75% | 2.13% | 2.49% |
Frequently Asked Questions
HWSM and VEGI have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VEGI has higher volatility (4.49%) compared to HWSM (3.68%). In terms of maximum drawdown, HWSM dropped -15.67% vs VEGI's -37.37%.
On 1-year performance, HWSM leads with 26.16% vs 14.32% for VEGI. On fees, VEGI is cheaper at 0.39% per year. On volatility, HWSM has been the lower-risk option at 3.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HWSM has performed better with a 26.16% return vs 14.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VEGI is cheaper with a 0.39% expense ratio, compared with 0.55% for HWSM.
VEGI has the higher dividend yield at 2.01%, compared with 1.20% for HWSM.
They also come from different issuers: Hotchkis & Wiley and iShares. Their fees differ too: 0.55% for HWSM and 0.39% for VEGI.
HWSM currently has the higher Sharpe Ratio (1.68 vs 0.97), 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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