LSVQX vs. ^TNX

Last updated Jun 5, 2026

LSVQX (LSV Small Cap Value Fund) is Small Cap Value Equities fund managed by LSV, while ^TNX (Treasury Yield 10 Years) is an index. Over the past 10 years, LSVQX returned 8.80%/yr vs 10.02%/yr for ^TNX. At a 0.22 correlation, their price movements are largely independent.

Performance

LSVQX vs. ^TNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LSV Small Cap Value Fund (LSVQX) and Treasury Yield 10 Years (^TNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LSVQX achieves a 13.01% return, which is significantly higher than ^TNX's 7.54% return. Over the past 10 years, LSVQX has underperformed ^TNX with an annualized return of 8.80%, while ^TNX has yielded a comparatively higher 10.02% annualized return.

LSVQX

• 1D: -0.67%
• 1M: 1.26%
• YTD: 13.01%
• 6M: 13.33%
• 1Y: 28.02%
• 3Y*: 14.80%
• 5Y*: 7.50%
• 10Y*: 8.80%

^TNX

• 1D: -0.31%
• 1M: 1.38%
• YTD: 7.54%
• 6M: 8.98%
• 1Y: 2.57%
• 3Y*: 6.63%
• 5Y*: 23.47%
• 10Y*: 10.02%

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

LSVQX vs. ^TNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LSVQX LSV Small Cap Value Fund	13.01%	7.31%	4.23%	19.02%	-6.24%	34.54%	-5.98%	20.59%	-17.41%	6.12%
^TNX Treasury Yield 10 Years	7.54%	-8.97%	18.29%	-0.34%	156.55%	64.89%	-52.21%	-28.56%	11.68%	-1.68%

Correlation

The correlation between LSVQX and ^TNX is -0.25, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.25
Correlation (3Y) Calculated over the trailing 3-year period	-0.18
Correlation (5Y) Calculated over the trailing 5-year period	-0.01
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Mar 4, 2013	0.22

The correlation between LSVQX and ^TNX shifts across timeframes, from -0.25 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LSVQX vs. ^TNX — Risk / Return Rank

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

LSVQX

LSVQX Risk / Return Rank: 46
LSVQX Sharpe Ratio Rank: 37
LSVQX Sortino Ratio Rank: 40
LSVQX Omega Ratio Rank: 35
LSVQX Calmar Ratio Rank: 71
LSVQX Martin Ratio Rank: 46

^TNX

^TNX Risk / Return Rank: 19
^TNX Sharpe Ratio Rank: 20
^TNX Sortino Ratio Rank: 19
^TNX Omega Ratio Rank: 18
^TNX Calmar Ratio Rank: 20
^TNX Martin Ratio Rank: 19

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.

LSVQX vs. ^TNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LSV Small Cap Value Fund (LSVQX) and Treasury Yield 10 Years (^TNX). 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.

	LSVQX	^TNX	Difference
Sharpe ratio: Return per unit of total volatility	1.75	0.17	+1.58
Sortino ratio: Return per unit of downside risk	2.59	0.35	+2.25
Omega ratio: Gain probability vs. loss probability	1.31	1.04	+0.27
Calmar ratio: Return relative to maximum drawdown	3.21	0.21	+3.00
Martin ratio: Return relative to average drawdown	9.49	0.37	+9.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LSVQX vs. ^TNX - Sharpe Ratio Comparison

The current LSVQX Sharpe Ratio is 1.75, which is higher than the ^TNX Sharpe Ratio of 0.17. The chart below compares the historical Sharpe Ratios of LSVQX and ^TNX, 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

	LSVQX	^TNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.75	0.17	+1.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.73	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	0.21	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	-0.02	+0.42

Drawdowns

LSVQX vs. ^TNX - Drawdown Comparison

The maximum LSVQX drawdown since its inception was -54.77%, smaller than the maximum ^TNX drawdown of -93.78%. Use the drawdown chart below to compare losses from any high point for LSVQX and ^TNX.

Drawdown Indicators

	LSVQX	^TNX	Difference
Max Drawdown Largest peak-to-trough decline	-54.77%	-93.78%	+39.01%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	-12.35%	+3.87%
Max Drawdown (3Y) Largest decline over 3 years	-25.76%	-27.41%	+1.65%
Max Drawdown (5Y) Largest decline over 5 years	-25.76%	-27.41%	+1.65%
Max Drawdown (10Y) Largest decline over 10 years	-54.77%	-84.57%	+29.80%
Current Drawdown Current decline from peak	-0.67%	-44.20%	+43.53%
Average Drawdown Average peak-to-trough decline	-7.45%	-51.34%	+43.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	6.97%	-4.11%

Volatility

LSVQX vs. ^TNX - Volatility Comparison

The current volatility for LSV Small Cap Value Fund (LSVQX) is 4.15%, while Treasury Yield 10 Years (^TNX) has a volatility of 5.04%. This indicates that LSVQX experiences smaller price fluctuations and is considered to be less risky than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LSVQX	^TNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	5.04%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	10.42%	10.62%	-0.20%
Volatility (1Y) Calculated over the trailing 1-year period	15.63%	15.51%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.36%	32.43%	-12.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.30%	47.98%	-23.68%

Frequently Asked Questions

Can I hold both LSVQX and ^TNX in my portfolio?

LSVQX and ^TNX have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LSVQX or ^TNX?

^TNX has higher volatility (5.04%) compared to LSVQX (4.15%). In terms of maximum drawdown, LSVQX dropped -54.77% vs ^TNX's -93.78%.

Which has better risk-adjusted returns?

LSVQX currently has the higher Sharpe Ratio (1.75 vs 0.17), 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.