MISIX vs. GWSAX

Last updated Jun 26, 2026

MISIX (Victory Trivalent International Small-Cap Fund Class I) and GWSAX (Gabelli Focused Growth and Income Fund) are both Mid Cap Blend Equities funds. Over the past 10 years, MISIX returned 10.69%/yr vs 6.13%/yr for GWSAX. A 0.68 correlation means they provide meaningful diversification when combined. MISIX charges 0.97%/yr vs 1.25%/yr for GWSAX.

Performance

MISIX vs. GWSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory Trivalent International Small-Cap Fund Class I (MISIX) and Gabelli Focused Growth and Income Fund (GWSAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MISIX achieves a 9.76% return, which is significantly higher than GWSAX's 4.66% return. Over the past 10 years, MISIX has outperformed GWSAX with an annualized return of 10.69%, while GWSAX has yielded a comparatively lower 6.13% annualized return.

MISIX

• 1D: -0.37%
• 1M: -4.47%
• YTD: 9.76%
• 6M: 9.10%
• 1Y: 25.93%
• 3Y*: 20.55%
• 5Y*: 7.65%
• 10Y*: 10.69%

GWSAX

• 1D: -1.13%
• 1M: -2.88%
• YTD: 4.66%
• 6M: 4.66%
• 1Y: 10.58%
• 3Y*: 9.50%
• 5Y*: 4.20%
• 10Y*: 6.13%

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

MISIX vs. GWSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MISIX Victory Trivalent International Small-Cap Fund Class I	9.76%	42.00%	4.70%	15.49%	-23.13%	12.41%	15.42%	27.88%	-20.20%	37.14%
GWSAX Gabelli Focused Growth and Income Fund	4.66%	2.11%	13.19%	11.90%	-13.71%	27.12%	8.69%	26.78%	-25.30%	17.07%

Correlation

The correlation between MISIX and GWSAX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Aug 20, 2007	0.68

Over the past year, the correlation between MISIX and GWSAX has dropped to 0.46 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.

Return for Risk

MISIX vs. GWSAX — Risk / Return Rank

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

MISIX

MISIX Risk / Return Rank: 39
MISIX Sharpe Ratio Rank: 42
MISIX Sortino Ratio Rank: 40
MISIX Omega Ratio Rank: 43
MISIX Calmar Ratio Rank: 33
MISIX Martin Ratio Rank: 38

GWSAX

GWSAX Risk / Return Rank: 18
GWSAX Sharpe Ratio Rank: 17
GWSAX Sortino Ratio Rank: 18
GWSAX Omega Ratio Rank: 15
GWSAX Calmar Ratio Rank: 22
GWSAX Martin Ratio Rank: 17

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.

MISIX vs. GWSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory Trivalent International Small-Cap Fund Class I (MISIX) and Gabelli Focused Growth and Income Fund (GWSAX). 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.

	MISIX	GWSAX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	0.96	+0.61
Sortino ratio: Return per unit of downside risk	2.21	1.44	+0.77
Omega ratio: Gain probability vs. loss probability	1.29	1.17	+0.13
Calmar ratio: Return relative to maximum drawdown	1.88	1.45	+0.43
Martin ratio: Return relative to average drawdown	7.25	3.74	+3.51

MISIX vs. GWSAX - Sharpe Ratio Comparison

The current MISIX Sharpe Ratio is 1.57, which is higher than the GWSAX Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of MISIX and GWSAX, 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

MISIX vs. GWSAX - Drawdown Comparison

The maximum MISIX drawdown since its inception was -67.61%, which is greater than GWSAX's maximum drawdown of -55.75%. Use the drawdown chart below to compare losses from any high point for MISIX and GWSAX.

Drawdown Indicators

	MISIX	GWSAX	Difference
Max Drawdown Largest peak-to-trough decline	-67.61%	-55.75%	-11.86%
Max Drawdown (1Y) Largest decline over 1 year	-13.84%	-6.54%	-7.30%
Max Drawdown (3Y) Largest decline over 3 years	-14.15%	-15.58%	+1.43%
Max Drawdown (5Y) Largest decline over 5 years	-37.69%	-18.91%	-18.78%
Max Drawdown (10Y) Largest decline over 10 years	-41.82%	-50.67%	+8.85%
Current Drawdown Current decline from peak	-4.76%	-4.04%	-0.72%
Average Drawdown Average peak-to-trough decline	-16.82%	-9.24%	-7.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.59%	2.53%	+1.06%

Volatility

MISIX vs. GWSAX - Volatility Comparison

Victory Trivalent International Small-Cap Fund Class I (MISIX) has a higher volatility of 6.83% compared to Gabelli Focused Growth and Income Fund (GWSAX) at 3.28%. This indicates that MISIX's price experiences larger fluctuations and is considered to be riskier than GWSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MISIX	GWSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.83%	3.28%	+3.55%
Volatility (6M) Calculated over the trailing 6-month period	14.32%	6.96%	+7.36%
Volatility (1Y) Calculated over the trailing 1-year period	16.60%	9.90%	+6.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.10%	15.41%	+2.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.77%	19.83%	-2.06%

MISIX vs. GWSAX - Expense Ratio Comparison

MISIX has a 0.97% expense ratio, which is lower than GWSAX's 1.25% expense ratio.

Dividends

MISIX vs. GWSAX - Dividend Comparison

MISIX's dividend yield for the trailing twelve months is around 5.51%, more than GWSAX's 5.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GWSAX Gabelli Focused Growth and Income Fund	5.03%	5.11%	4.39%	4.57%	5.00%	3.90%	0.00%	0.00%	0.09%	0.49%	1.16%	0.00%
MISIX Victory Trivalent International Small-Cap Fund Class I	5.51%	6.05%	2.27%	1.90%	1.12%	8.61%	0.41%	1.99%	3.59%	1.85%	1.56%	1.21%

Frequently Asked Questions

Can I hold both MISIX and GWSAX in my portfolio?

MISIX and GWSAX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MISIX or GWSAX?

MISIX has higher volatility (6.83%) compared to GWSAX (3.28%). In terms of maximum drawdown, MISIX dropped -67.61% vs GWSAX's -55.75%.

Which has better risk-adjusted returns?

MISIX currently has the higher Sharpe Ratio (1.57 vs 0.96), 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.