PSOPX vs. HRTVX

Last updated Jun 24, 2026

PSOPX (JPMorgan Small Cap Value Fund) and HRTVX (Heartland Value Fund) are both Small Cap Value Equities funds. Over the past 10 years, PSOPX returned 11.01%/yr vs 12.28%/yr for HRTVX. Their correlation of 0.89 suggests significant overlap in exposure. PSOPX charges 0.94%/yr vs 1.04%/yr for HRTVX.

Performance

PSOPX vs. HRTVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Small Cap Value Fund (PSOPX) and Heartland Value Fund (HRTVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with PSOPX having a 20.92% return and HRTVX slightly higher at 21.79%. Over the past 10 years, PSOPX has underperformed HRTVX with an annualized return of 11.01%, while HRTVX has yielded a comparatively higher 12.28% annualized return.

PSOPX

• 1D: 0.74%
• 1M: 4.72%
• YTD: 20.92%
• 6M: 18.82%
• 1Y: 43.11%
• 3Y*: 21.42%
• 5Y*: 9.55%
• 10Y*: 11.01%

HRTVX

• 1D: 0.10%
• 1M: 3.27%
• YTD: 21.79%
• 6M: 20.20%
• 1Y: 40.05%
• 3Y*: 23.12%
• 5Y*: 12.29%
• 10Y*: 12.28%

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

PSOPX vs. HRTVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSOPX JPMorgan Small Cap Value Fund	20.92%	12.32%	15.20%	13.08%	-13.37%	32.44%	6.14%	19.14%	-13.97%	3.17%
HRTVX Heartland Value Fund	21.79%	15.94%	15.76%	17.15%	-10.04%	21.86%	13.12%	17.93%	-12.10%	8.45%

Correlation

The correlation between PSOPX and HRTVX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 2, 1996	0.89

The correlation between PSOPX and HRTVX has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.

Return for Risk

PSOPX vs. HRTVX — Risk / Return Rank

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

PSOPX

PSOPX Risk / Return Rank: 83
PSOPX Sharpe Ratio Rank: 83
PSOPX Sortino Ratio Rank: 80
PSOPX Omega Ratio Rank: 67
PSOPX Calmar Ratio Rank: 93
PSOPX Martin Ratio Rank: 91

HRTVX

HRTVX Risk / Return Rank: 82
HRTVX Sharpe Ratio Rank: 82
HRTVX Sortino Ratio Rank: 81
HRTVX Omega Ratio Rank: 70
HRTVX Calmar Ratio Rank: 91
HRTVX Martin Ratio Rank: 87

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.

PSOPX vs. HRTVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Small Cap Value Fund (PSOPX) and Heartland Value Fund (HRTVX). 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.

	PSOPX	HRTVX	Difference
Sharpe ratio: Return per unit of total volatility	2.49	2.48	+0.01
Sortino ratio: Return per unit of downside risk	3.48	3.54	-0.06
Omega ratio: Gain probability vs. loss probability	1.42	1.42	-0.01
Calmar ratio: Return relative to maximum drawdown	4.80	4.46	+0.34
Martin ratio: Return relative to average drawdown	17.40	15.34	+2.06

PSOPX vs. HRTVX - Sharpe Ratio Comparison

The current PSOPX Sharpe Ratio is 2.49, which is comparable to the HRTVX Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of PSOPX and HRTVX, 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

PSOPX vs. HRTVX - Drawdown Comparison

The maximum PSOPX drawdown since its inception was -60.75%, roughly equal to the maximum HRTVX drawdown of -61.68%. Use the drawdown chart below to compare losses from any high point for PSOPX and HRTVX.

Drawdown Indicators

	PSOPX	HRTVX	Difference
Max Drawdown Largest peak-to-trough decline	-60.75%	-61.68%	+0.93%
Max Drawdown (1Y) Largest decline over 1 year	-9.46%	-9.50%	+0.04%
Max Drawdown (3Y) Largest decline over 3 years	-23.50%	-23.17%	-0.33%
Max Drawdown (5Y) Largest decline over 5 years	-24.08%	-23.17%	-0.91%
Max Drawdown (10Y) Largest decline over 10 years	-46.52%	-46.31%	-0.21%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-10.25%	-9.03%	-1.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	2.76%	-0.16%

Volatility

PSOPX vs. HRTVX - Volatility Comparison

JPMorgan Small Cap Value Fund (PSOPX) has a higher volatility of 5.33% compared to Heartland Value Fund (HRTVX) at 4.86%. This indicates that PSOPX's price experiences larger fluctuations and is considered to be riskier than HRTVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSOPX	HRTVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.33%	4.86%	+0.47%
Volatility (6M) Calculated over the trailing 6-month period	12.81%	11.96%	+0.85%
Volatility (1Y) Calculated over the trailing 1-year period	18.23%	17.11%	+1.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.41%	19.51%	+1.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.59%	21.05%	+2.54%

PSOPX vs. HRTVX - Expense Ratio Comparison

PSOPX has a 0.94% expense ratio, which is lower than HRTVX's 1.04% expense ratio.

Dividends

PSOPX vs. HRTVX - Dividend Comparison

PSOPX's dividend yield for the trailing twelve months is around 7.67%, which matches HRTVX's 7.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HRTVX Heartland Value Fund	7.63%	9.29%	8.91%	5.65%	3.01%	13.50%	0.76%	3.12%	7.26%	6.43%	3.56%	8.25%
PSOPX JPMorgan Small Cap Value Fund	7.67%	9.31%	12.79%	1.59%	9.50%	16.48%	0.74%	6.38%	16.22%	6.38%	0.73%	5.58%

Frequently Asked Questions

Can I hold both PSOPX and HRTVX in my portfolio?

With a correlation of 0.94, PSOPX and HRTVX 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, PSOPX or HRTVX?

PSOPX has higher volatility (5.33%) compared to HRTVX (4.86%). In terms of maximum drawdown, PSOPX dropped -60.75% vs HRTVX's -61.68%.

Which has better risk-adjusted returns?

PSOPX currently has the higher Sharpe Ratio (2.49 vs 2.48), 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.