JSIVX vs. HWSAX

Last updated Jun 3, 2026

JSIVX (Janus Henderson Small Cap Value Fund) and HWSAX (Hotchkis & Wiley Small Cap Value Fund Class A) are both Small Cap Value Equities funds. Over the past 10 years, JSIVX returned 8.84%/yr vs 10.63%/yr for HWSAX. Their correlation of 0.92 suggests significant overlap in exposure. JSIVX charges 0.81%/yr vs 1.21%/yr for HWSAX.

Performance

JSIVX vs. HWSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Small Cap Value Fund (JSIVX) and Hotchkis & Wiley Small Cap Value Fund Class A (HWSAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JSIVX achieves a 9.43% return, which is significantly lower than HWSAX's 16.39% return. Over the past 10 years, JSIVX has underperformed HWSAX with an annualized return of 8.84%, while HWSAX has yielded a comparatively higher 10.63% annualized return.

JSIVX

• 1D: -1.00%
• 1M: -0.74%
• YTD: 9.43%
• 6M: 9.52%
• 1Y: 27.93%
• 3Y*: 15.20%
• 5Y*: 7.29%
• 10Y*: 8.84%

HWSAX

• 1D: 1.15%
• 1M: 1.47%
• YTD: 16.39%
• 6M: 16.60%
• 1Y: 29.89%
• 3Y*: 12.46%
• 5Y*: 8.98%
• 10Y*: 10.63%

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

JSIVX vs. HWSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JSIVX Janus Henderson Small Cap Value Fund	9.43%	7.86%	15.40%	13.47%	-9.75%	22.89%	-6.64%	26.31%	-13.05%	12.91%
HWSAX Hotchkis & Wiley Small Cap Value Fund Class A	16.39%	1.38%	4.77%	18.56%	2.81%	35.32%	-0.50%	20.26%	-15.23%	7.39%

Correlation

The correlation between JSIVX and HWSAX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Oct 9, 2000	0.92

The correlation between JSIVX and HWSAX has been stable across timeframes, ranging from 0.83 to 0.92 - a consistent structural relationship.

Return for Risk

JSIVX vs. HWSAX — Risk / Return Rank

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

JSIVX

JSIVX Risk / Return Rank: 39
JSIVX Sharpe Ratio Rank: 35
JSIVX Sortino Ratio Rank: 38
JSIVX Omega Ratio Rank: 32
JSIVX Calmar Ratio Rank: 47
JSIVX Martin Ratio Rank: 45

HWSAX

HWSAX Risk / Return Rank: 40
HWSAX Sharpe Ratio Rank: 34
HWSAX Sortino Ratio Rank: 34
HWSAX Omega Ratio Rank: 33
HWSAX Calmar Ratio Rank: 53
HWSAX Martin Ratio Rank: 43

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.

JSIVX vs. HWSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Small Cap Value Fund (JSIVX) and Hotchkis & Wiley Small Cap Value Fund Class A (HWSAX). 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.

	JSIVX	HWSAX	Difference
Sharpe ratio Return per unit of total volatility	1.71	1.71	0.00
Sortino ratio Return per unit of downside risk	2.57	2.44	+0.13
Omega ratio Gain probability vs. loss probability	1.30	1.31	-0.01
Calmar ratio Return relative to maximum drawdown	2.62	2.81	-0.19
Martin ratio Return relative to average drawdown	9.47	9.23	+0.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JSIVX vs. HWSAX - Sharpe Ratio Comparison

The current JSIVX Sharpe Ratio is 1.71, which is comparable to the HWSAX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of JSIVX and HWSAX, 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

	JSIVX	HWSAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	1.71	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.42	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	0.43	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.48	-0.08

Drawdowns

JSIVX vs. HWSAX - Drawdown Comparison

The maximum JSIVX drawdown since its inception was -46.98%, smaller than the maximum HWSAX drawdown of -72.14%. Use the drawdown chart below to compare losses from any high point for JSIVX and HWSAX.

Drawdown Indicators

	JSIVX	HWSAX	Difference
Max Drawdown Largest peak-to-trough decline	-46.98%	-72.14%	+25.16%
Max Drawdown (1Y) Largest decline over 1 year	-10.32%	-10.06%	-0.26%
Max Drawdown (3Y) Largest decline over 3 years	-24.24%	-26.98%	+2.74%
Max Drawdown (5Y) Largest decline over 5 years	-24.24%	-26.98%	+2.74%
Max Drawdown (10Y) Largest decline over 10 years	-40.58%	-53.82%	+13.24%
Current Drawdown Current decline from peak	-1.95%	0.00%	-1.95%
Average Drawdown Average peak-to-trough decline	-9.18%	-10.96%	+1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	3.06%	-0.20%

Volatility

JSIVX vs. HWSAX - Volatility Comparison

Janus Henderson Small Cap Value Fund (JSIVX) has a higher volatility of 3.90% compared to Hotchkis & Wiley Small Cap Value Fund Class A (HWSAX) at 3.64%. This indicates that JSIVX's price experiences larger fluctuations and is considered to be riskier than HWSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JSIVX	HWSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	3.64%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	10.77%	11.22%	-0.45%
Volatility (1Y) Calculated over the trailing 1-year period	16.22%	17.24%	-1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.46%	21.53%	-1.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.11%	24.62%	-3.51%

JSIVX vs. HWSAX - Expense Ratio Comparison

JSIVX has a 0.81% expense ratio, which is lower than HWSAX's 1.21% expense ratio.

Dividends

JSIVX vs. HWSAX - Dividend Comparison

JSIVX's dividend yield for the trailing twelve months is around 3.72%, more than HWSAX's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HWSAX Hotchkis & Wiley Small Cap Value Fund Class A	0.60%	0.69%	8.19%	1.79%	13.39%	0.22%	0.63%	4.62%	9.45%	4.80%	0.00%	11.67%
JSIVX Janus Henderson Small Cap Value Fund	3.72%	4.07%	20.33%	5.34%	4.94%	1.84%	1.15%	1.11%	8.15%	8.74%	3.76%	14.24%

Frequently Asked Questions

Can I hold both JSIVX and HWSAX in my portfolio?

JSIVX and HWSAX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JSIVX or HWSAX?

JSIVX has higher volatility (3.90%) compared to HWSAX (3.64%). In terms of maximum drawdown, JSIVX dropped -46.98% vs HWSAX's -72.14%.

Which has better risk-adjusted returns?

JSIVX currently has the higher Sharpe Ratio (1.71 vs 1.71), 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.