HWVIX vs. HWNIX

Last updated Jun 4, 2026

HWVIX (Hotchkis & Wiley Small Cap Diversified Value Fund) and HWNIX (Hotchkis & Wiley International Value Fund) are both mutual funds - HWVIX is a Small Cap Value Equities fund managed by Hotchkis & Wiley, while HWNIX is a Foreign Large Cap Equities fund managed by Hotchkis & Wiley. Over the past 10 years, HWVIX returned 10.75%/yr vs 11.07%/yr for HWNIX. A 0.74 correlation means they provide meaningful diversification when combined. HWVIX charges 0.80%/yr vs 0.95%/yr for HWNIX.

Performance

HWVIX vs. HWNIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hotchkis & Wiley Small Cap Diversified Value Fund (HWVIX) and Hotchkis & Wiley International Value Fund (HWNIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with HWVIX having a 15.13% return and HWNIX slightly lower at 14.76%. Both investments have delivered pretty close results over the past 10 years, with HWVIX having a 10.75% annualized return and HWNIX not far ahead at 11.07%.

HWVIX

• 1D: 0.70%
• 1M: 2.26%
• YTD: 15.13%
• 6M: 14.07%
• 1Y: 29.30%
• 3Y*: 12.75%
• 5Y*: 6.31%
• 10Y*: 10.75%

HWNIX

• 1D: 0.13%
• 1M: 7.35%
• YTD: 14.76%
• 6M: 18.97%
• 1Y: 31.39%
• 3Y*: 24.09%
• 5Y*: 13.99%
• 10Y*: 11.07%

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

HWVIX vs. HWNIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HWVIX Hotchkis & Wiley Small Cap Diversified Value Fund	15.13%	3.02%	4.31%	16.36%	-6.33%	35.19%	1.25%	21.68%	-14.44%	13.55%
HWNIX Hotchkis & Wiley International Value Fund	14.76%	41.40%	5.92%	22.98%	-5.40%	18.12%	-2.36%	20.53%	-18.77%	18.13%

Correlation

The correlation between HWVIX and HWNIX is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.74

The correlation between HWVIX and HWNIX shifts across timeframes, from 0.60 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HWVIX vs. HWNIX — Risk / Return Rank

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

HWVIX

HWVIX Risk / Return Rank: 50
HWVIX Sharpe Ratio Rank: 39
HWVIX Sortino Ratio Rank: 41
HWVIX Omega Ratio Rank: 39
HWVIX Calmar Ratio Rank: 82
HWVIX Martin Ratio Rank: 50

HWNIX

HWNIX Risk / Return Rank: 50
HWNIX Sharpe Ratio Rank: 53
HWNIX Sortino Ratio Rank: 50
HWNIX Omega Ratio Rank: 50
HWNIX Calmar Ratio Rank: 48
HWNIX 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.

HWVIX vs. HWNIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hotchkis & Wiley Small Cap Diversified Value Fund (HWVIX) and Hotchkis & Wiley International Value Fund (HWNIX). 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.

	HWVIX	HWNIX	Difference
Sharpe ratio Return per unit of total volatility	1.84	2.16	-0.32
Sortino ratio Return per unit of downside risk	2.71	3.01	-0.30
Omega ratio Gain probability vs. loss probability	1.33	1.39	-0.06
Calmar ratio Return relative to maximum drawdown	3.76	2.66	+1.10
Martin ratio Return relative to average drawdown	10.22	10.35	-0.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HWVIX vs. HWNIX - Sharpe Ratio Comparison

The current HWVIX Sharpe Ratio is 1.84, which is comparable to the HWNIX Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of HWVIX and HWNIX, 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

	HWVIX	HWNIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	2.16	-0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.79	-0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.56	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.55	-0.18

Drawdowns

HWVIX vs. HWNIX - Drawdown Comparison

The maximum HWVIX drawdown since its inception was -52.18%, which is greater than HWNIX's maximum drawdown of -48.97%. Use the drawdown chart below to compare losses from any high point for HWVIX and HWNIX.

Drawdown Indicators

	HWVIX	HWNIX	Difference
Max Drawdown Largest peak-to-trough decline	-52.18%	-48.97%	-3.21%
Max Drawdown (1Y) Largest decline over 1 year	-8.57%	-11.63%	+3.06%
Max Drawdown (3Y) Largest decline over 3 years	-27.34%	-14.93%	-12.41%
Max Drawdown (5Y) Largest decline over 5 years	-27.34%	-29.23%	+1.89%
Max Drawdown (10Y) Largest decline over 10 years	-52.18%	-48.97%	-3.21%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.28%	-7.99%	-0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	2.99%	+0.16%

Volatility

HWVIX vs. HWNIX - Volatility Comparison

The current volatility for Hotchkis & Wiley Small Cap Diversified Value Fund (HWVIX) is 3.68%, while Hotchkis & Wiley International Value Fund (HWNIX) has a volatility of 4.33%. This indicates that HWVIX experiences smaller price fluctuations and is considered to be less risky than HWNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HWVIX	HWNIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	4.33%	-0.65%
Volatility (6M) Calculated over the trailing 6-month period	10.68%	11.43%	-0.75%
Volatility (1Y) Calculated over the trailing 1-year period	17.55%	14.40%	+3.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.64%	17.82%	+3.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.45%	19.98%	+4.47%

HWVIX vs. HWNIX - Expense Ratio Comparison

HWVIX has a 0.80% expense ratio, which is lower than HWNIX's 0.95% expense ratio.

Dividends

HWVIX vs. HWNIX - Dividend Comparison

HWVIX's dividend yield for the trailing twelve months is around 0.99%, less than HWNIX's 14.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HWNIX Hotchkis & Wiley International Value Fund	14.73%	16.90%	13.76%	8.40%	3.20%	1.46%	1.21%	3.77%	7.96%	5.89%	3.90%	0.00%
HWVIX Hotchkis & Wiley Small Cap Diversified Value Fund	0.99%	1.14%	6.28%	8.52%	9.38%	6.40%	0.96%	0.87%	10.51%	15.74%	0.78%	3.34%

Frequently Asked Questions

Can I hold both HWVIX and HWNIX in my portfolio?

HWVIX and HWNIX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HWVIX or HWNIX?

HWNIX has higher volatility (4.33%) compared to HWVIX (3.68%). In terms of maximum drawdown, HWVIX dropped -52.18% vs HWNIX's -48.97%.

Which has better risk-adjusted returns?

HWNIX currently has the higher Sharpe Ratio (2.16 vs 1.84), 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.