MOWIX vs. HLMSX

Last updated Apr 1, 2026

Compare and contrast key facts about Moerus Worldwide Value Fund (MOWIX) and Harding Loevner International Small Companies Portfolio (HLMSX).

MOWIX is managed by MOERUS FUNDS. It was launched on May 30, 2016. HLMSX is managed by Harding Loevner. It was launched on Mar 25, 2007.

Performance

MOWIX vs. HLMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Moerus Worldwide Value Fund (MOWIX) and Harding Loevner International Small Companies Portfolio (HLMSX). The values are adjusted to include any dividend payments, if applicable.

MOWIX vs. HLMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MOWIX Moerus Worldwide Value Fund	2.90%	40.23%	15.96%	24.97%	6.40%	146.79%	-10.06%	269.57%	-19.47%	18.59%
HLMSX Harding Loevner International Small Companies Portfolio	-5.34%	14.87%	-6.92%	11.78%	-24.50%	12.82%	18.51%	29.45%	-17.65%	34.31%

Returns By Period

In the year-to-date period, MOWIX achieves a 2.90% return, which is significantly higher than HLMSX's -5.34% return.

MOWIX

• 1D: -0.70%
• 1M: -10.71%
• YTD: 2.90%
• 6M: 7.76%
• 1Y: 39.09%
• 3Y*: 26.86%
• 5Y*: 37.86%
• 10Y*: —

HLMSX

• 1D: 0.06%
• 1M: -9.34%
• YTD: -5.34%
• 6M: -7.18%
• 1Y: 6.59%
• 3Y*: 2.84%
• 5Y*: -0.58%
• 10Y*: 5.17%

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

MOWIX vs. HLMSX - Expense Ratio Comparison

MOWIX has a 1.40% expense ratio, which is higher than HLMSX's 1.37% expense ratio.

MOWIX

Moerus Worldwide Value Fund

HLMSX

Harding Loevner International Small Companies Portfolio

Return for Risk

MOWIX vs. HLMSX — Risk / Return Rank

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

MOWIX

MOWIX Risk / Return Rank: 93
MOWIX Sharpe Ratio Rank: 95
MOWIX Sortino Ratio Rank: 92
MOWIX Omega Ratio Rank: 90
MOWIX Calmar Ratio Rank: 94
MOWIX Martin Ratio Rank: 94

HLMSX

HLMSX Risk / Return Rank: 13
HLMSX Sharpe Ratio Rank: 15
HLMSX Sortino Ratio Rank: 13
HLMSX Omega Ratio Rank: 12
HLMSX Calmar Ratio Rank: 14
HLMSX Martin Ratio Rank: 12

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.

MOWIX vs. HLMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Moerus Worldwide Value Fund (MOWIX) and Harding Loevner International Small Companies Portfolio (HLMSX). 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.

	MOWIX	HLMSX	Difference
Sharpe ratio Return per unit of total volatility	2.24	0.40	+1.83
Sortino ratio Return per unit of downside risk	2.76	0.61	+2.15
Omega ratio Gain probability vs. loss probability	1.41	1.08	+0.32
Calmar ratio Return relative to maximum drawdown	3.13	0.40	+2.72
Martin ratio Return relative to average drawdown	12.06	1.03	+11.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MOWIX vs. HLMSX - Sharpe Ratio Comparison

The current MOWIX Sharpe Ratio is 2.24, which is higher than the HLMSX Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of MOWIX and HLMSX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MOWIX	HLMSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	0.40	+1.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	-0.04	+0.79
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.32	+0.45

Correlation

The correlation between MOWIX and HLMSX is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MOWIX vs. HLMSX - Dividend Comparison

MOWIX's dividend yield for the trailing twelve months is around 10.13%, more than HLMSX's 4.27% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MOWIX Moerus Worldwide Value Fund	10.13%	10.42%	4.65%	4.98%	0.55%	55.38%	0.72%	94.90%	1.93%	0.86%	0.00%	0.00%
HLMSX Harding Loevner International Small Companies Portfolio	4.27%	4.04%	1.17%	1.00%	1.83%	2.82%	0.03%	0.52%	7.56%	1.13%	4.37%	1.54%

Drawdowns

MOWIX vs. HLMSX - Drawdown Comparison

The maximum MOWIX drawdown since its inception was -46.25%, smaller than the maximum HLMSX drawdown of -60.77%. Use the drawdown chart below to compare losses from any high point for MOWIX and HLMSX.

Drawdown Indicators

	MOWIX	HLMSX	Difference
Max Drawdown Largest peak-to-trough decline	-46.25%	-60.77%	+14.52%
Max Drawdown (1Y) Largest decline over 1 year	-11.21%	-10.59%	-0.62%
Max Drawdown (5Y) Largest decline over 5 years	-22.11%	-38.22%	+16.11%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.22%	—
Current Drawdown Current decline from peak	-10.71%	-19.20%	+8.49%
Average Drawdown Average peak-to-trough decline	-7.28%	-13.24%	+5.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	4.18%	-1.18%

Volatility

MOWIX vs. HLMSX - Volatility Comparison

Moerus Worldwide Value Fund (MOWIX) has a higher volatility of 6.23% compared to Harding Loevner International Small Companies Portfolio (HLMSX) at 5.07%. This indicates that MOWIX's price experiences larger fluctuations and is considered to be riskier than HLMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MOWIX	HLMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.23%	5.07%	+1.16%
Volatility (6M) Calculated over the trailing 6-month period	12.50%	8.35%	+4.15%
Volatility (1Y) Calculated over the trailing 1-year period	17.10%	13.26%	+3.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.85%	14.90%	+35.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.18%	14.86%	+32.32%