PRVIX vs. VSMVX

Last updated Jun 3, 2026

PRVIX (T. Rowe Price Small-Cap Value Fund Class I) and VSMVX (Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares) are both Small Cap Value Equities funds. Over the past 10 years, PRVIX returned 10.61%/yr vs 10.26%/yr for VSMVX. With a 0.95 correlation, they move nearly in lockstep. PRVIX charges 0.66%/yr vs 0.08%/yr for VSMVX.

Performance

PRVIX vs. VSMVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Small-Cap Value Fund Class I (PRVIX) and Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares (VSMVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PRVIX having a 15.93% return and VSMVX slightly lower at 15.32%. Both investments have delivered pretty close results over the past 10 years, with PRVIX having a 10.61% annualized return and VSMVX not far behind at 10.26%.

PRVIX

• 1D: -0.37%
• 1M: 1.81%
• YTD: 15.93%
• 6M: 16.73%
• 1Y: 33.07%
• 3Y*: 15.96%
• 5Y*: 6.29%
• 10Y*: 10.61%

VSMVX

• 1D: 0.18%
• 1M: 1.13%
• YTD: 15.32%
• 6M: 16.51%
• 1Y: 39.96%
• 3Y*: 14.13%
• 5Y*: 5.59%
• 10Y*: 10.26%

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

PRVIX vs. VSMVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRVIX T. Rowe Price Small-Cap Value Fund Class I	15.93%	8.44%	10.96%	12.46%	-18.42%	25.60%	12.58%	25.95%	-11.49%	12.86%
VSMVX Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares	15.32%	6.38%	7.53%	14.85%	-11.12%	30.85%	2.79%	24.47%	-12.67%	11.64%

Correlation

The correlation between PRVIX and VSMVX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Aug 31, 2015	0.95

The correlation between PRVIX and VSMVX has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

Return for Risk

PRVIX vs. VSMVX — Risk / Return Rank

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

PRVIX

PRVIX Risk / Return Rank: 56
PRVIX Sharpe Ratio Rank: 49
PRVIX Sortino Ratio Rank: 49
PRVIX Omega Ratio Rank: 44
PRVIX Calmar Ratio Rank: 74
PRVIX Martin Ratio Rank: 63

VSMVX

VSMVX Risk / Return Rank: 61
VSMVX Sharpe Ratio Rank: 52
VSMVX Sortino Ratio Rank: 52
VSMVX Omega Ratio Rank: 46
VSMVX Calmar Ratio Rank: 86
VSMVX Martin Ratio Rank: 70

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.

PRVIX vs. VSMVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Small-Cap Value Fund Class I (PRVIX) and Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares (VSMVX). 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.

	PRVIX	VSMVX	Difference
Sharpe ratio Return per unit of total volatility	2.06	2.14	-0.09
Sortino ratio Return per unit of downside risk	2.96	3.06	-0.10
Omega ratio Gain probability vs. loss probability	1.36	1.37	-0.01
Calmar ratio Return relative to maximum drawdown	3.37	4.10	-0.73
Martin ratio Return relative to average drawdown	12.56	13.53	-0.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRVIX vs. VSMVX - Sharpe Ratio Comparison

The current PRVIX Sharpe Ratio is 2.06, which is comparable to the VSMVX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of PRVIX and VSMVX, 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

	PRVIX	VSMVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	2.14	-0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.26	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.43	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.50	+0.01

Drawdowns

PRVIX vs. VSMVX - Drawdown Comparison

The maximum PRVIX drawdown since its inception was -40.95%, smaller than the maximum VSMVX drawdown of -47.61%. Use the drawdown chart below to compare losses from any high point for PRVIX and VSMVX.

Drawdown Indicators

	PRVIX	VSMVX	Difference
Max Drawdown Largest peak-to-trough decline	-40.95%	-47.61%	+6.66%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-9.33%	+0.40%
Max Drawdown (3Y) Largest decline over 3 years	-24.57%	-28.81%	+4.24%
Max Drawdown (5Y) Largest decline over 5 years	-28.00%	-28.81%	+0.81%
Max Drawdown (10Y) Largest decline over 10 years	-40.95%	-47.61%	+6.66%
Current Drawdown Current decline from peak	-0.84%	-0.65%	-0.19%
Average Drawdown Average peak-to-trough decline	-8.33%	-7.65%	-0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	2.83%	-0.44%

Volatility

PRVIX vs. VSMVX - Volatility Comparison

T. Rowe Price Small-Cap Value Fund Class I (PRVIX) and Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares (VSMVX) have volatilities of 4.35% and 4.36%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRVIX	VSMVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	4.36%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	12.28%	11.47%	+0.81%
Volatility (1Y) Calculated over the trailing 1-year period	16.74%	18.33%	-1.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.83%	22.01%	-2.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.05%	24.13%	-3.08%

PRVIX vs. VSMVX - Expense Ratio Comparison

PRVIX has a 0.66% expense ratio, which is higher than VSMVX's 0.08% expense ratio.

Dividends

PRVIX vs. VSMVX - Dividend Comparison

PRVIX's dividend yield for the trailing twelve months is around 10.45%, more than VSMVX's 1.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRVIX T. Rowe Price Small-Cap Value Fund Class I	10.45%	12.11%	9.96%	3.40%	5.54%	7.15%	2.12%	4.72%	9.61%	3.79%	3.88%	22.61%
VSMVX Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares	1.65%	1.45%	1.85%	1.92%	1.88%	1.66%	1.46%	1.65%	1.89%	1.55%	1.26%	1.42%

Frequently Asked Questions

Can I hold both PRVIX and VSMVX in my portfolio?

With a correlation of 0.90, PRVIX and VSMVX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PRVIX or VSMVX?

VSMVX has higher volatility (4.36%) compared to PRVIX (4.35%). In terms of maximum drawdown, PRVIX dropped -40.95% vs VSMVX's -47.61%.

Which has better risk-adjusted returns?

VSMVX currently has the higher Sharpe Ratio (2.14 vs 2.06), 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.