PSTAX vs. SMVTX

Last updated Jun 4, 2026

PSTAX (Virtus KAR Capital Growth Fund) and SMVTX (Virtus Ceredex Mid-Cap Value Equity Fund) are both mutual funds - PSTAX is a Large Cap Growth Equities fund managed by Virtus, while SMVTX is a Mid Cap Value Equities fund managed by Virtus. Over the past 10 years, PSTAX returned 13.73%/yr vs 12.21%/yr for SMVTX. Their correlation of 0.80 suggests significant overlap in exposure. PSTAX charges 1.20%/yr vs 0.99%/yr for SMVTX.

Performance

PSTAX vs. SMVTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus KAR Capital Growth Fund (PSTAX) and Virtus Ceredex Mid-Cap Value Equity Fund (SMVTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSTAX achieves a 7.63% return, which is significantly lower than SMVTX's 21.54% return. Over the past 10 years, PSTAX has outperformed SMVTX with an annualized return of 13.73%, while SMVTX has yielded a comparatively lower 12.21% annualized return.

PSTAX

• 1D: -0.28%
• 1M: 11.00%
• YTD: 7.63%
• 6M: 5.82%
• 1Y: 10.30%
• 3Y*: 17.97%
• 5Y*: 7.04%
• 10Y*: 13.73%

SMVTX

• 1D: 1.80%
• 1M: 2.73%
• YTD: 21.54%
• 6M: 20.83%
• 1Y: 43.86%
• 3Y*: 23.93%
• 5Y*: 11.97%
• 10Y*: 12.21%

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

PSTAX vs. SMVTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSTAX Virtus KAR Capital Growth Fund	7.63%	6.85%	25.19%	34.35%	-35.74%	11.70%	46.13%	42.83%	-8.07%	35.13%
SMVTX Virtus Ceredex Mid-Cap Value Equity Fund	21.54%	17.58%	18.93%	10.94%	-13.89%	29.15%	-1.19%	33.14%	-8.01%	11.69%

Correlation

The correlation between PSTAX and SMVTX is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jan 3, 2002	0.80

Over the past year, the correlation between PSTAX and SMVTX has dropped to 0.55 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.

Return for Risk

PSTAX vs. SMVTX — Risk / Return Rank

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

PSTAX

PSTAX Risk / Return Rank: 7
PSTAX Sharpe Ratio Rank: 8
PSTAX Sortino Ratio Rank: 8
PSTAX Omega Ratio Rank: 8
PSTAX Calmar Ratio Rank: 6
PSTAX Martin Ratio Rank: 6

SMVTX

SMVTX Risk / Return Rank: 89
SMVTX Sharpe Ratio Rank: 90
SMVTX Sortino Ratio Rank: 85
SMVTX Omega Ratio Rank: 79
SMVTX Calmar Ratio Rank: 96
SMVTX Martin Ratio Rank: 96

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.

PSTAX vs. SMVTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus KAR Capital Growth Fund (PSTAX) and Virtus Ceredex Mid-Cap Value Equity Fund (SMVTX). 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.

	PSTAX	SMVTX	Difference
Sharpe ratio: Return per unit of total volatility	0.64	2.99	-2.35
Sortino ratio: Return per unit of downside risk	1.00	4.06	-3.06
Omega ratio: Gain probability vs. loss probability	1.12	1.51	-0.39
Calmar ratio: Return relative to maximum drawdown	0.55	6.39	-5.84
Martin ratio: Return relative to average drawdown	1.72	23.52	-21.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSTAX vs. SMVTX - Sharpe Ratio Comparison

The current PSTAX Sharpe Ratio is 0.64, which is lower than the SMVTX Sharpe Ratio of 2.99. The chart below compares the historical Sharpe Ratios of PSTAX and SMVTX, 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

	PSTAX	SMVTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	2.99	-2.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.59	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.59	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.49	-0.15

Drawdowns

PSTAX vs. SMVTX - Drawdown Comparison

The maximum PSTAX drawdown since its inception was -76.37%, which is greater than SMVTX's maximum drawdown of -54.72%. Use the drawdown chart below to compare losses from any high point for PSTAX and SMVTX.

Drawdown Indicators

	PSTAX	SMVTX	Difference
Max Drawdown Largest peak-to-trough decline	-76.37%	-54.72%	-21.65%
Max Drawdown (1Y) Largest decline over 1 year	-19.58%	-7.17%	-12.41%
Max Drawdown (3Y) Largest decline over 3 years	-29.63%	-24.75%	-4.88%
Max Drawdown (5Y) Largest decline over 5 years	-44.54%	-25.44%	-19.10%
Max Drawdown (10Y) Largest decline over 10 years	-44.54%	-45.45%	+0.91%
Current Drawdown Current decline from peak	-3.53%	-0.20%	-3.33%
Average Drawdown Average peak-to-trough decline	-31.92%	-8.23%	-23.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.25%	1.94%	+4.31%

Volatility

PSTAX vs. SMVTX - Volatility Comparison

Virtus KAR Capital Growth Fund (PSTAX) has a higher volatility of 5.47% compared to Virtus Ceredex Mid-Cap Value Equity Fund (SMVTX) at 5.09%. This indicates that PSTAX's price experiences larger fluctuations and is considered to be riskier than SMVTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSTAX	SMVTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.47%	5.09%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	13.60%	11.94%	+1.66%
Volatility (1Y) Calculated over the trailing 1-year period	16.84%	15.30%	+1.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.19%	20.45%	+4.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.66%	20.64%	+3.02%

PSTAX vs. SMVTX - Expense Ratio Comparison

PSTAX has a 1.20% expense ratio, which is higher than SMVTX's 0.99% expense ratio.

Dividends

PSTAX vs. SMVTX - Dividend Comparison

PSTAX's dividend yield for the trailing twelve months is around 7.04%, less than SMVTX's 13.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSTAX Virtus KAR Capital Growth Fund	7.04%	7.58%	14.19%	6.07%	23.19%	7.73%	3.15%	2.71%	11.57%	6.28%	8.98%	4.59%
SMVTX Virtus Ceredex Mid-Cap Value Equity Fund	13.52%	16.44%	15.96%	1.16%	6.75%	18.53%	2.52%	5.82%	14.47%	20.86%	3.61%	7.05%

Frequently Asked Questions

Can I hold both PSTAX and SMVTX in my portfolio?

PSTAX and SMVTX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSTAX or SMVTX?

PSTAX has higher volatility (5.47%) compared to SMVTX (5.09%). In terms of maximum drawdown, PSTAX dropped -76.37% vs SMVTX's -54.72%.

Which has better risk-adjusted returns?

SMVTX currently has the higher Sharpe Ratio (2.99 vs 0.64), 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.