IMCVX vs. HWMIX
IMCVX (Voya Multi-Manager Mid Cap Value Fund) and HWMIX (Hotchkis & Wiley Mid-Cap Value Fund) are both Mid Cap Value Equities funds. Over the past 10 years, IMCVX returned 9.61%/yr vs 9.59%/yr for HWMIX. Their correlation of 0.88 suggests significant overlap in exposure. IMCVX charges 0.78%/yr vs 1.01%/yr for HWMIX.
Performance
IMCVX vs. HWMIX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IMCVX having a 10.75% return and HWMIX slightly higher at 11.12%. Both investments have delivered pretty close results over the past 10 years, with IMCVX having a 9.61% annualized return and HWMIX not far behind at 9.59%.
IMCVX
- 1D
- 0.20%
- 1M
- 1.32%
- YTD
- 10.75%
- 6M
- 9.18%
- 1Y
- 17.02%
- 3Y*
- 11.11%
- 5Y*
- 6.50%
- 10Y*
- 9.61%
HWMIX
- 1D
- -0.52%
- 1M
- -1.86%
- YTD
- 11.12%
- 6M
- 10.01%
- 1Y
- 24.41%
- 3Y*
- 12.98%
- 5Y*
- 10.63%
- 10Y*
- 9.59%
IMCVX vs. HWMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMCVX Voya Multi-Manager Mid Cap Value Fund | 10.75% | 4.09% | 10.72% | 9.44% | -11.52% | 29.40% | 2.62% | 40.50% | -15.20% | 15.06% |
HWMIX Hotchkis & Wiley Mid-Cap Value Fund | 11.12% | 7.87% | 3.62% | 19.87% | 1.63% | 39.18% | 0.49% | 12.97% | -19.32% | 7.69% |
Correlation
The correlation between IMCVX and HWMIX is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | 0.88 |
Over the past year, the correlation between IMCVX and HWMIX has dropped to 0.67 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.
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Return for Risk
IMCVX vs. HWMIX — Risk / Return Rank
IMCVX
HWMIX
IMCVX vs. HWMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Voya Multi-Manager Mid Cap Value Fund (IMCVX) and Hotchkis & Wiley Mid-Cap Value Fund (HWMIX). 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.
| IMCVX | HWMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.27 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.54 | 3.40 | -0.87 |
| Martin ratioReturn relative to average drawdown | 8.44 | 9.43 | -0.99 |
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Drawdowns
IMCVX vs. HWMIX - Drawdown Comparison
The maximum IMCVX drawdown since its inception was -44.22%, smaller than the maximum HWMIX drawdown of -69.84%. Use the drawdown chart below to compare losses from any high point for IMCVX and HWMIX.
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Drawdown Indicators
| IMCVX | HWMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.22% | -69.84% | +25.62% |
Max Drawdown (1Y)Largest decline over 1 year | -7.47% | -7.16% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -19.34% | -25.90% | +6.56% |
Max Drawdown (5Y)Largest decline over 5 years | -22.03% | -25.90% | +3.87% |
Max Drawdown (10Y)Largest decline over 10 years | -44.22% | -63.21% | +18.99% |
Current DrawdownCurrent decline from peak | -1.67% | -4.48% | +2.81% |
Average DrawdownAverage peak-to-trough decline | -5.45% | -10.82% | +5.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 2.58% | -0.38% |
Volatility
IMCVX vs. HWMIX - Volatility Comparison
The current volatility for Voya Multi-Manager Mid Cap Value Fund (IMCVX) is 3.30%, while Hotchkis & Wiley Mid-Cap Value Fund (HWMIX) has a volatility of 4.31%. This indicates that IMCVX experiences smaller price fluctuations and is considered to be less risky than HWMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IMCVX | HWMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.30% | 4.31% | -1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 8.36% | 10.91% | -2.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.17% | 16.34% | -4.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.39% | 22.14% | -4.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.11% | 25.53% | -5.42% |
IMCVX vs. HWMIX - Expense Ratio Comparison
IMCVX has a 0.78% expense ratio, which is lower than HWMIX's 1.01% expense ratio.
Dividends
IMCVX vs. HWMIX - Dividend Comparison
IMCVX's dividend yield for the trailing twelve months is around 8.32%, more than HWMIX's 1.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HWMIX Hotchkis & Wiley Mid-Cap Value Fund | 1.25% | 1.39% | 1.15% | 0.28% | 0.49% | 1.28% | 2.25% | 1.60% | 2.99% | 6.72% | 1.53% | 14.67% |
IMCVX Voya Multi-Manager Mid Cap Value Fund | 8.32% | 9.21% | 11.72% | 0.98% | 8.69% | 15.71% | 4.38% | 19.23% | 20.04% | 7.09% | 3.00% | 21.05% |
Frequently Asked Questions
IMCVX and HWMIX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HWMIX has higher volatility (4.31%) compared to IMCVX (3.30%). In terms of maximum drawdown, IMCVX dropped -44.22% vs HWMIX's -69.84%.
IMCVX currently has the higher Sharpe Ratio (1.56 vs 1.49), 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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