LVAFX vs. WFSPX

Last updated Jun 4, 2026

LVAFX (LSV Global Managed Volatility Fund) and WFSPX (iShares S&P 500 Index Fund) are both mutual funds - LVAFX is a Global Equities fund managed by BlackRock, while WFSPX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, LVAFX returned 8.16%/yr vs 15.54%/yr for WFSPX. A 0.78 correlation means they provide meaningful diversification when combined. LVAFX charges 1.00%/yr vs 0.03%/yr for WFSPX.

Performance

LVAFX vs. WFSPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LSV Global Managed Volatility Fund (LVAFX) and iShares S&P 500 Index Fund (WFSPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LVAFX achieves a 13.49% return, which is significantly higher than WFSPX's 11.69% return. Over the past 10 years, LVAFX has underperformed WFSPX with an annualized return of 8.16%, while WFSPX has yielded a comparatively higher 15.54% annualized return.

LVAFX

• 1D: 0.47%
• 1M: 4.53%
• YTD: 13.49%
• 6M: 14.99%
• 1Y: 26.19%
• 3Y*: 14.68%
• 5Y*: 8.40%
• 10Y*: 8.16%

WFSPX

• 1D: 0.13%
• 1M: 5.80%
• YTD: 11.69%
• 6M: 11.72%
• 1Y: 28.93%
• 3Y*: 22.71%
• 5Y*: 14.24%
• 10Y*: 15.54%

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

LVAFX vs. WFSPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LVAFX LSV Global Managed Volatility Fund	13.49%	22.33%	0.10%	9.81%	-4.04%	17.36%	-5.16%	17.54%	-6.47%	18.68%
WFSPX iShares S&P 500 Index Fund	11.69%	17.83%	24.94%	26.25%	-18.14%	28.63%	18.43%	31.45%	-4.83%	21.27%

Correlation

The correlation between LVAFX and WFSPX is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jan 5, 2015	0.78

The correlation between LVAFX and WFSPX shifts across timeframes, from 0.61 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LVAFX vs. WFSPX — Risk / Return Rank

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

LVAFX

LVAFX Risk / Return Rank: 89
LVAFX Sharpe Ratio Rank: 92
LVAFX Sortino Ratio Rank: 91
LVAFX Omega Ratio Rank: 84
LVAFX Calmar Ratio Rank: 90
LVAFX Martin Ratio Rank: 89

WFSPX

WFSPX Risk / Return Rank: 73
WFSPX Sharpe Ratio Rank: 75
WFSPX Sortino Ratio Rank: 67
WFSPX Omega Ratio Rank: 67
WFSPX Calmar Ratio Rank: 74
WFSPX Martin Ratio Rank: 83

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.

LVAFX vs. WFSPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LSV Global Managed Volatility Fund (LVAFX) and iShares S&P 500 Index Fund (WFSPX). 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.

	LVAFX	WFSPX	Difference
Sharpe ratio: Return per unit of total volatility	3.11	2.52	+0.60
Sortino ratio: Return per unit of downside risk	4.55	3.42	+1.14
Omega ratio: Gain probability vs. loss probability	1.58	1.46	+0.12
Calmar ratio: Return relative to maximum drawdown	4.59	3.35	+1.24
Martin ratio: Return relative to average drawdown	17.62	15.65	+1.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LVAFX vs. WFSPX - Sharpe Ratio Comparison

The current LVAFX Sharpe Ratio is 3.11, which is comparable to the WFSPX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of LVAFX and WFSPX, 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

	LVAFX	WFSPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.11	2.52	+0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.85	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.87	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.13	+0.42

Drawdowns

LVAFX vs. WFSPX - Drawdown Comparison

The maximum LVAFX drawdown since its inception was -33.69%, smaller than the maximum WFSPX drawdown of -58.21%. Use the drawdown chart below to compare losses from any high point for LVAFX and WFSPX.

Drawdown Indicators

	LVAFX	WFSPX	Difference
Max Drawdown Largest peak-to-trough decline	-33.69%	-58.21%	+24.52%
Max Drawdown (1Y) Largest decline over 1 year	-5.76%	-8.90%	+3.14%
Max Drawdown (3Y) Largest decline over 3 years	-17.52%	-18.74%	+1.22%
Max Drawdown (5Y) Largest decline over 5 years	-18.34%	-24.51%	+6.17%
Max Drawdown (10Y) Largest decline over 10 years	-33.69%	-33.74%	+0.05%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.75%	-12.77%	+8.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.50%	1.90%	-0.40%

Volatility

LVAFX vs. WFSPX - Volatility Comparison

The current volatility for LSV Global Managed Volatility Fund (LVAFX) is 2.03%, while iShares S&P 500 Index Fund (WFSPX) has a volatility of 2.82%. This indicates that LVAFX experiences smaller price fluctuations and is considered to be less risky than WFSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LVAFX	WFSPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.03%	2.82%	-0.79%
Volatility (6M) Calculated over the trailing 6-month period	6.12%	8.97%	-2.85%
Volatility (1Y) Calculated over the trailing 1-year period	8.49%	11.85%	-3.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.23%	16.88%	-3.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.59%	18.02%	-4.43%

LVAFX vs. WFSPX - Expense Ratio Comparison

LVAFX has a 1.00% expense ratio, which is higher than WFSPX's 0.03% expense ratio.

Dividends

LVAFX vs. WFSPX - Dividend Comparison

LVAFX's dividend yield for the trailing twelve months is around 8.96%, more than WFSPX's 1.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LVAFX LSV Global Managed Volatility Fund	8.96%	10.17%	2.71%	15.64%	2.90%	2.90%	2.14%	7.62%	3.59%	7.10%	1.66%	1.74%
WFSPX iShares S&P 500 Index Fund	1.56%	1.72%	1.41%	1.50%	2.02%	1.82%	1.66%	1.99%	2.00%	1.62%	2.37%	2.49%

Frequently Asked Questions

Can I hold both LVAFX and WFSPX in my portfolio?

LVAFX and WFSPX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LVAFX or WFSPX?

WFSPX has higher volatility (2.82%) compared to LVAFX (2.03%). In terms of maximum drawdown, LVAFX dropped -33.69% vs WFSPX's -58.21%.

Which has better risk-adjusted returns?

LVAFX currently has the higher Sharpe Ratio (3.11 vs 2.52), 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.