IPFPX vs. HWAIX

Last updated Aug 1, 2026

IPFPX (Poplar Forest Partners Fund) and HWAIX (Hotchkis & Wiley Value Opportunities Fund) are both Large Cap Value Equities funds. Over the past 10 years, IPFPX returned 10.89%/yr vs 13.43%/yr for HWAIX. Their correlation of 0.87 means they have usually moved in the same direction. IPFPX charges 0.95%/yr vs 0.94%/yr for HWAIX.

Performance

IPFPX vs. HWAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Poplar Forest Partners Fund (IPFPX) and Hotchkis & Wiley Value Opportunities Fund (HWAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPFPX achieves a 22.51% return, which is significantly higher than HWAIX's 12.32% return. Over the past 10 years, IPFPX has underperformed HWAIX with an annualized return of 10.89%, while HWAIX has yielded a comparatively higher 13.43% annualized return.

IPFPX

• 1D: 0.08%
• 1M: 0.30%
• 6M: 18.81%
• YTD: 22.51%
• 1Y: 37.73%
• 3Y*: 18.41%
• 5Y*: 12.61%
• 10Y*: 10.89%
• ALL TIME*: 11.43%

HWAIX

• 1D: 0.04%
• 1M: 4.11%
• 6M: 9.92%
• YTD: 12.32%
• 1Y: 21.52%
• 3Y*: 15.51%
• 5Y*: 12.63%
• 10Y*: 13.43%
• ALL TIME*: 11.30%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HWAIX Hotchkis & Wiley Value Opportunities Fund	$0.00	$0.00	$0.00
IPFPX Poplar Forest Partners Fund	$0.00	$0.00	$0.00

IPFPX vs. HWAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPFPX Poplar Forest Partners Fund	22.51%	22.94%	6.24%	5.02%	0.81%	39.49%	-1.26%	21.64%	-18.64%	6.84%
HWAIX Hotchkis & Wiley Value Opportunities Fund	12.32%	14.56%	11.59%	26.74%	-7.88%	34.33%	5.35%	25.62%	-11.01%	13.82%

Correlation

The correlation between IPFPX and HWAIX is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (10Y) Provides a long-term view across more market conditions.	0.87
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.87

Over the past year, the correlation between IPFPX and HWAIX has dropped to 0.65 - well below their long-term average of 0.87, suggesting their price drivers have been diverging.

Return for Risk

IPFPX vs. HWAIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IPFPX

IPFPX Risk / Return Rank: 95
IPFPX Sharpe Ratio Rank: 97
IPFPX Sortino Ratio Rank: 95
IPFPX Omega Ratio Rank: 90
IPFPX Calmar Ratio Rank: 95
IPFPX Martin Ratio Rank: 95

HWAIX

HWAIX Risk / Return Rank: 63
HWAIX Sharpe Ratio Rank: 61
HWAIX Sortino Ratio Rank: 58
HWAIX Omega Ratio Rank: 58
HWAIX Calmar Ratio Rank: 83
HWAIX Martin Ratio Rank: 57

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IPFPX vs. HWAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Poplar Forest Partners Fund (IPFPX) and Hotchkis & Wiley Value Opportunities Fund (HWAIX). 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.

	IPFPX	HWAIX	Difference
Sharpe ratio: Return per unit of total volatility	2.82	1.45	+1.37
Sortino ratio: Return per unit of downside risk	4.04	2.04	+2.00
Omega ratio: Gain probability vs. loss probability	1.49	1.26	+0.23
Calmar ratio: Return relative to maximum drawdown	4.33	2.75	+1.58
Martin ratio: Return relative to average drawdown	16.27	7.32	+8.95

IPFPX vs. HWAIX - Sharpe Ratio Comparison

The current IPFPX Sharpe Ratio is 2.82, which is higher than the HWAIX Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of IPFPX and HWAIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IPFPX vs. HWAIX - Drawdown Comparison

The maximum IPFPX drawdown since its inception was -47.77%, which is greater than HWAIX's maximum drawdown of -41.28%. Use the drawdown chart below to compare losses from any high point for IPFPX and HWAIX.

Drawdown Indicators

	IPFPX	HWAIX	Difference
Max Drawdown Largest peak-to-trough decline	-47.77%	-41.28%	-6.49%
Max Drawdown (1Y) Largest decline over 1 year	-8.31%	-7.10%	-1.21%
Max Drawdown (3Y) Largest decline over 3 years	-14.15%	-17.28%	+3.13%
Max Drawdown (5Y) Largest decline over 5 years	-17.94%	-23.87%	+5.93%
Max Drawdown (10Y) Largest decline over 10 years	-47.77%	-41.28%	-6.49%
Current Drawdown Current decline from peak	-1.08%	0.00%	-1.08%
Average Drawdown Average peak-to-trough decline	-6.63%	-5.59%	-1.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	2.66%	-0.45%

Volatility

IPFPX vs. HWAIX - Volatility Comparison

Poplar Forest Partners Fund (IPFPX) and Hotchkis & Wiley Value Opportunities Fund (HWAIX) have volatilities of 3.72% and 3.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPFPX	HWAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	3.90%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	9.50%	10.25%	-0.75%
Volatility (1Y) Calculated over the trailing 1-year period	12.78%	13.53%	-0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.82%	17.98%	-2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.69%	19.36%	+0.33%

IPFPX vs. HWAIX - Expense Ratio Comparison

IPFPX has a 0.95% expense ratio, which is higher than HWAIX's 0.94% expense ratio.

Dividends

IPFPX vs. HWAIX - Dividend Comparison

IPFPX's dividend yield for the trailing twelve months is around 7.73%, more than HWAIX's 6.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HWAIX Hotchkis & Wiley Value Opportunities Fund	6.02%	3.69%	10.07%	8.39%	2.54%	13.72%	2.52%	2.35%	11.39%	3.19%	2.22%	17.20%
IPFPX Poplar Forest Partners Fund	7.73%	9.47%	10.86%	3.89%	6.17%	14.47%	2.41%	1.64%	12.47%	5.01%	2.19%	0.94%

Frequently Asked Questions

Can I hold both IPFPX and HWAIX in my portfolio?

IPFPX and HWAIX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPFPX or HWAIX?

HWAIX has higher volatility (3.90%) compared to IPFPX (3.72%). In terms of maximum drawdown, IPFPX dropped -47.77% vs HWAIX's -41.28%.

Which has better risk-adjusted returns?

IPFPX currently has the higher Sharpe Ratio (2.82 vs 1.45), 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.