JMIGX vs. PXQSX

Last updated Jul 14, 2026

JMIGX (Jacob Discovery Fund) and PXQSX (Virtus KAR Small-Cap Value Fund) are both Small Cap Growth Equities funds. Over the past 10 years, JMIGX returned 13.11%/yr vs 7.75%/yr for PXQSX. A 0.72 correlation means they provide meaningful diversification when combined. JMIGX charges 1.75%/yr vs 0.96%/yr for PXQSX.

Performance

JMIGX vs. PXQSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Jacob Discovery Fund (JMIGX) and Virtus KAR Small-Cap Value Fund (PXQSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMIGX achieves a -1.28% return, which is significantly lower than PXQSX's 6.95% return. Over the past 10 years, JMIGX has outperformed PXQSX with an annualized return of 13.11%, while PXQSX has yielded a comparatively lower 7.75% annualized return.

JMIGX

• 1D: -0.66%
• 1M: 4.30%
• 6M: -3.53%
• YTD: -1.28%
• 1Y: 34.19%
• 3Y*: 10.80%
• 5Y*: -4.15%
• 10Y*: 13.11%

PXQSX

• 1D: 1.23%
• 1M: 1.86%
• 6M: 0.53%
• YTD: 6.95%
• 1Y: 1.26%
• 3Y*: 7.13%
• 5Y*: 1.10%
• 10Y*: 7.75%

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

JMIGX vs. PXQSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JMIGX Jacob Discovery Fund	-1.28%	32.71%	10.64%	4.38%	-41.64%	14.60%	74.01%	42.89%	10.52%	28.91%
PXQSX Virtus KAR Small-Cap Value Fund	6.95%	-4.50%	9.63%	19.10%	-24.29%	19.50%	28.16%	24.87%	-15.95%	18.90%

Correlation

The correlation between JMIGX and PXQSX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jun 29, 2006	0.72

Over the past year, the correlation between JMIGX and PXQSX has dropped to 0.45 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.

Return for Risk

JMIGX vs. PXQSX — Risk / Return Rank

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

JMIGX

JMIGX Risk / Return Rank: 35
JMIGX Sharpe Ratio Rank: 35
JMIGX Sortino Ratio Rank: 36
JMIGX Omega Ratio Rank: 32
JMIGX Calmar Ratio Rank: 39
JMIGX Martin Ratio Rank: 30

PXQSX

PXQSX Risk / Return Rank: 4
PXQSX Sharpe Ratio Rank: 4
PXQSX Sortino Ratio Rank: 4
PXQSX Omega Ratio Rank: 3
PXQSX Calmar Ratio Rank: 4
PXQSX Martin Ratio Rank: 4

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.

JMIGX vs. PXQSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Jacob Discovery Fund (JMIGX) and Virtus KAR Small-Cap Value Fund (PXQSX). 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.

	JMIGX	PXQSX	Difference
Sharpe ratio: Return per unit of total volatility	1.30	0.02	+1.28
Sortino ratio: Return per unit of downside risk	1.93	0.16	+1.78
Omega ratio: Gain probability vs. loss probability	1.23	1.02	+0.21
Calmar ratio: Return relative to maximum drawdown	1.91	0.02	+1.88
Martin ratio: Return relative to average drawdown	5.43	0.05	+5.38

JMIGX vs. PXQSX - Sharpe Ratio Comparison

The current JMIGX Sharpe Ratio is 1.30, which is higher than the PXQSX Sharpe Ratio of 0.02. The chart below compares the historical Sharpe Ratios of JMIGX and PXQSX, 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

JMIGX vs. PXQSX - Drawdown Comparison

The maximum JMIGX drawdown since its inception was -70.25%, which is greater than PXQSX's maximum drawdown of -55.56%. Use the drawdown chart below to compare losses from any high point for JMIGX and PXQSX.

Drawdown Indicators

	JMIGX	PXQSX	Difference
Max Drawdown Largest peak-to-trough decline	-70.25%	-55.56%	-14.69%
Max Drawdown (1Y) Largest decline over 1 year	-17.70%	-13.25%	-4.45%
Max Drawdown (3Y) Largest decline over 3 years	-29.40%	-22.87%	-6.53%
Max Drawdown (5Y) Largest decline over 5 years	-59.40%	-31.49%	-27.91%
Max Drawdown (10Y) Largest decline over 10 years	-61.67%	-37.65%	-24.02%
Current Drawdown Current decline from peak	-29.63%	-8.09%	-21.54%
Average Drawdown Average peak-to-trough decline	-26.88%	-10.29%	-16.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.21%	6.53%	-0.32%

Volatility

JMIGX vs. PXQSX - Volatility Comparison

Jacob Discovery Fund (JMIGX) has a higher volatility of 5.31% compared to Virtus KAR Small-Cap Value Fund (PXQSX) at 4.59%. This indicates that JMIGX's price experiences larger fluctuations and is considered to be riskier than PXQSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMIGX	PXQSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	4.59%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	18.21%	12.40%	+5.81%
Volatility (1Y) Calculated over the trailing 1-year period	25.95%	16.85%	+9.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.18%	20.25%	+6.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.24%	20.47%	+5.77%

JMIGX vs. PXQSX - Expense Ratio Comparison

JMIGX has a 1.75% expense ratio, which is higher than PXQSX's 0.96% expense ratio.

Dividends

JMIGX vs. PXQSX - Dividend Comparison

JMIGX's dividend yield for the trailing twelve months is around 0.51%, less than PXQSX's 5.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JMIGX Jacob Discovery Fund	0.51%	0.50%	0.00%	0.00%	0.00%	2.30%	6.37%	0.00%	0.00%	0.00%	0.00%	27.75%
PXQSX Virtus KAR Small-Cap Value Fund	5.43%	5.81%	4.90%	2.99%	3.37%	1.76%	0.82%	0.80%	2.54%	5.32%	8.89%	7.58%

Frequently Asked Questions

Can I hold both JMIGX and PXQSX in my portfolio?

JMIGX and PXQSX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMIGX or PXQSX?

JMIGX has higher volatility (5.31%) compared to PXQSX (4.59%). In terms of maximum drawdown, JMIGX dropped -70.25% vs PXQSX's -55.56%.

Which has better risk-adjusted returns?

JMIGX currently has the higher Sharpe Ratio (1.30 vs 0.02), 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.