MVALX vs. MISGX

Last updated Jun 4, 2026

MVALX (Meridian Contrarian Fund) and MISGX (Meridian Small Cap Growth Fund) are both mutual funds - MVALX is a Mid Cap Blend Equities fund managed by Meridian, while MISGX is a Small Cap Growth Equities fund managed by Meridian. Over the past 10 years, MVALX returned 13.55%/yr vs 8.88%/yr for MISGX. Their correlation of 0.88 suggests significant overlap in exposure. MVALX charges 1.12%/yr vs 1.22%/yr for MISGX.

Performance

MVALX vs. MISGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Meridian Contrarian Fund (MVALX) and Meridian Small Cap Growth Fund (MISGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MVALX achieves a 17.57% return, which is significantly higher than MISGX's 3.86% return. Over the past 10 years, MVALX has outperformed MISGX with an annualized return of 13.55%, while MISGX has yielded a comparatively lower 8.88% annualized return.

MVALX

• 1D: 1.96%
• 1M: 6.59%
• YTD: 17.57%
• 6M: 18.16%
• 1Y: 35.80%
• 3Y*: 16.74%
• 5Y*: 8.16%
• 10Y*: 13.55%

MISGX

• 1D: -0.86%
• 1M: 3.10%
• YTD: 3.86%
• 6M: 4.98%
• 1Y: 11.51%
• 3Y*: 6.95%
• 5Y*: -0.24%
• 10Y*: 8.88%

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

MVALX vs. MISGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MVALX Meridian Contrarian Fund	17.57%	17.43%	9.73%	12.40%	-16.67%	26.66%	23.75%	23.66%	-7.85%	24.88%
MISGX Meridian Small Cap Growth Fund	3.86%	-1.28%	13.89%	14.02%	-24.63%	8.55%	27.78%	18.96%	0.40%	22.83%

Correlation

The correlation between MVALX and MISGX is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Dec 18, 2013	0.88

Over the past year, the correlation between MVALX and MISGX has dropped to 0.67 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.

Return for Risk

MVALX vs. MISGX — Risk / Return Rank

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

MVALX

MVALX Risk / Return Rank: 55
MVALX Sharpe Ratio Rank: 49
MVALX Sortino Ratio Rank: 47
MVALX Omega Ratio Rank: 40
MVALX Calmar Ratio Rank: 76
MVALX Martin Ratio Rank: 62

MISGX

MISGX Risk / Return Rank: 11
MISGX Sharpe Ratio Rank: 10
MISGX Sortino Ratio Rank: 11
MISGX Omega Ratio Rank: 10
MISGX Calmar Ratio Rank: 11
MISGX Martin Ratio Rank: 11

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.

MVALX vs. MISGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Meridian Contrarian Fund (MVALX) and Meridian Small Cap Growth Fund (MISGX). 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.

	MVALX	MISGX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	0.83	+1.24
Sortino ratio: Return per unit of downside risk	2.88	1.26	+1.62
Omega ratio: Gain probability vs. loss probability	1.34	1.14	+0.19
Calmar ratio: Return relative to maximum drawdown	3.44	1.07	+2.38
Martin ratio: Return relative to average drawdown	12.18	3.24	+8.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MVALX vs. MISGX - Sharpe Ratio Comparison

The current MVALX Sharpe Ratio is 2.06, which is higher than the MISGX Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of MVALX and MISGX, 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

	MVALX	MISGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	0.83	+1.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	-0.01	+0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.42	+0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.44	+0.17

Drawdowns

MVALX vs. MISGX - Drawdown Comparison

The maximum MVALX drawdown since its inception was -50.65%, which is greater than MISGX's maximum drawdown of -41.11%. Use the drawdown chart below to compare losses from any high point for MVALX and MISGX.

Drawdown Indicators

	MVALX	MISGX	Difference
Max Drawdown Largest peak-to-trough decline	-50.65%	-41.11%	-9.54%
Max Drawdown (1Y) Largest decline over 1 year	-11.53%	-13.54%	+2.01%
Max Drawdown (3Y) Largest decline over 3 years	-24.80%	-27.23%	+2.43%
Max Drawdown (5Y) Largest decline over 5 years	-24.80%	-37.70%	+12.90%
Max Drawdown (10Y) Largest decline over 10 years	-42.06%	-41.11%	-0.95%
Current Drawdown Current decline from peak	0.00%	-9.29%	+9.29%
Average Drawdown Average peak-to-trough decline	-7.12%	-11.29%	+4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	4.27%	-1.05%

Volatility

MVALX vs. MISGX - Volatility Comparison

Meridian Contrarian Fund (MVALX) has a higher volatility of 6.33% compared to Meridian Small Cap Growth Fund (MISGX) at 5.89%. This indicates that MVALX's price experiences larger fluctuations and is considered to be riskier than MISGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVALX	MISGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.33%	5.89%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	14.51%	12.46%	+2.05%
Volatility (1Y) Calculated over the trailing 1-year period	19.25%	17.52%	+1.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.74%	21.36%	-0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.44%	21.23%	+0.21%

MVALX vs. MISGX - Expense Ratio Comparison

MVALX has a 1.12% expense ratio, which is lower than MISGX's 1.22% expense ratio.

Dividends

MVALX vs. MISGX - Dividend Comparison

MVALX's dividend yield for the trailing twelve months is around 10.90%, more than MISGX's 7.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MISGX Meridian Small Cap Growth Fund	7.59%	7.89%	3.76%	0.00%	14.39%	33.08%	1.96%	5.78%	12.50%	4.18%	0.00%	1.62%
MVALX Meridian Contrarian Fund	10.90%	12.81%	4.26%	5.45%	11.45%	14.16%	4.93%	7.94%	25.52%	10.53%	0.52%	16.76%

Frequently Asked Questions

Can I hold both MVALX and MISGX in my portfolio?

MVALX and MISGX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVALX or MISGX?

MVALX has higher volatility (6.33%) compared to MISGX (5.89%). In terms of maximum drawdown, MVALX dropped -50.65% vs MISGX's -41.11%.

Which has better risk-adjusted returns?

MVALX currently has the higher Sharpe Ratio (2.06 vs 0.82), 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.