MSEFX vs. PFSVX

Last updated Jun 4, 2026

MSEFX (iMGP Equity Fund) and PFSVX (iMGP SBH Focused Small Value Fund) are both mutual funds - MSEFX is a Large Cap Blend Equities fund managed by iM Global Partner Fund Management, while PFSVX is a Small Cap Value Equities fund managed by iM Global Partner Fund Management. Over the past 5 years, MSEFX returned 0.18%/yr vs 5.61%/yr for PFSVX. A 0.77 correlation means they provide meaningful diversification when combined. MSEFX charges 0.98%/yr vs 1.15%/yr for PFSVX.

Performance

MSEFX vs. PFSVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iMGP Equity Fund (MSEFX) and iMGP SBH Focused Small Value Fund (PFSVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSEFX achieves a 4.07% return, which is significantly lower than PFSVX's 7.42% return.

MSEFX

• 1D: -0.65%
• 1M: 2.85%
• YTD: 4.07%
• 6M: 5.69%
• 1Y: 7.12%
• 3Y*: 6.72%
• 5Y*: 0.18%
• 10Y*: 7.71%

PFSVX

• 1D: 0.94%
• 1M: 3.15%
• YTD: 7.42%
• 6M: 5.95%
• 1Y: 19.05%
• 3Y*: 13.46%
• 5Y*: 5.61%
• 10Y*: —

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

MSEFX vs. PFSVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MSEFX iMGP Equity Fund	4.07%	5.15%	3.29%	17.30%	-25.22%	18.27%	23.72%
PFSVX iMGP SBH Focused Small Value Fund	7.42%	-0.02%	14.04%	24.90%	-13.39%	19.74%	27.10%

Correlation

The correlation between MSEFX and PFSVX is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Aug 3, 2020	0.77

The correlation between MSEFX and PFSVX shifts across timeframes, from 0.57 (1 year) to 0.77 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MSEFX vs. PFSVX — Risk / Return Rank

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

MSEFX

MSEFX Risk / Return Rank: 8
MSEFX Sharpe Ratio Rank: 8
MSEFX Sortino Ratio Rank: 8
MSEFX Omega Ratio Rank: 7
MSEFX Calmar Ratio Rank: 7
MSEFX Martin Ratio Rank: 9

PFSVX

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

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.

MSEFX vs. PFSVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iMGP Equity Fund (MSEFX) and iMGP SBH Focused Small Value Fund (PFSVX). 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.

	MSEFX	PFSVX	Difference
Sharpe ratio Return per unit of total volatility	0.65	1.10	-0.45
Sortino ratio Return per unit of downside risk	0.97	1.73	-0.76
Omega ratio Gain probability vs. loss probability	1.12	1.20	-0.08
Calmar ratio Return relative to maximum drawdown	0.69	1.53	-0.84
Martin ratio Return relative to average drawdown	2.48	4.85	-2.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSEFX vs. PFSVX - Sharpe Ratio Comparison

The current MSEFX Sharpe Ratio is 0.65, which is lower than the PFSVX Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of MSEFX and PFSVX, 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

	MSEFX	PFSVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.65	1.10	-0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.25	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.57	-0.20

Drawdowns

MSEFX vs. PFSVX - Drawdown Comparison

The maximum MSEFX drawdown since its inception was -61.12%, which is greater than PFSVX's maximum drawdown of -30.18%. Use the drawdown chart below to compare losses from any high point for MSEFX and PFSVX.

Drawdown Indicators

	MSEFX	PFSVX	Difference
Max Drawdown Largest peak-to-trough decline	-61.12%	-30.18%	-30.94%
Max Drawdown (1Y) Largest decline over 1 year	-10.52%	-14.16%	+3.64%
Max Drawdown (3Y) Largest decline over 3 years	-14.30%	-30.18%	+15.88%
Max Drawdown (5Y) Largest decline over 5 years	-36.93%	-30.18%	-6.75%
Max Drawdown (10Y) Largest decline over 10 years	-36.93%	—	—
Current Drawdown Current decline from peak	-4.57%	-2.01%	-2.56%
Average Drawdown Average peak-to-trough decline	-10.63%	-9.14%	-1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	4.45%	-1.53%

Volatility

MSEFX vs. PFSVX - Volatility Comparison

The current volatility for iMGP Equity Fund (MSEFX) is 3.66%, while iMGP SBH Focused Small Value Fund (PFSVX) has a volatility of 4.73%. This indicates that MSEFX experiences smaller price fluctuations and is considered to be less risky than PFSVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSEFX	PFSVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.66%	4.73%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	8.41%	13.80%	-5.39%
Volatility (1Y) Calculated over the trailing 1-year period	11.16%	19.64%	-8.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.94%	22.52%	-6.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.83%	22.54%	-4.71%

MSEFX vs. PFSVX - Expense Ratio Comparison

MSEFX has a 0.98% expense ratio, which is lower than PFSVX's 1.15% expense ratio.

Dividends

MSEFX vs. PFSVX - Dividend Comparison

MSEFX's dividend yield for the trailing twelve months is around 3.26%, less than PFSVX's 3.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSEFX iMGP Equity Fund	3.26%	3.40%	7.44%	4.08%	31.07%	16.28%	12.45%	9.07%	14.47%	7.93%	5.87%	9.89%
PFSVX iMGP SBH Focused Small Value Fund	3.96%	4.26%	17.23%	7.81%	0.00%	2.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSEFX and PFSVX in my portfolio?

MSEFX and PFSVX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSEFX or PFSVX?

PFSVX has higher volatility (4.73%) compared to MSEFX (3.66%). In terms of maximum drawdown, MSEFX dropped -61.12% vs PFSVX's -30.18%.

Which has better risk-adjusted returns?

PFSVX currently has the higher Sharpe Ratio (1.10 vs 0.65), 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.