PZVEX vs. PZIEX
Compare and contrast key facts about Pzena Emerging Markets Value Fund (PZVEX) and Pzena Emerging Markets Value Fund Institutional Class (PZIEX).
PZVEX is managed by Pzena. It was launched on Mar 30, 2014. PZIEX is an actively managed fund by Pzena. It was launched on Mar 31, 2014.
Performance
PZVEX vs. PZIEX - Performance Comparison
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PZVEX vs. PZIEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PZVEX Pzena Emerging Markets Value Fund | 4.52% | 35.06% | 4.11% | 20.32% | -6.03% | 6.41% | 8.01% | 13.17% | -10.59% | 29.88% |
PZIEX Pzena Emerging Markets Value Fund Institutional Class | 4.56% | 35.49% | 4.54% | 20.73% | -5.67% | 6.65% | 8.43% | 13.57% | -10.23% | 29.98% |
Returns By Period
The year-to-date returns for both investments are quite close, with PZVEX having a 4.52% return and PZIEX slightly higher at 4.56%. Both investments have delivered pretty close results over the past 10 years, with PZVEX having a 11.07% annualized return and PZIEX not far ahead at 11.43%.
PZVEX
- 1D
- -1.42%
- 1M
- -11.83%
- YTD
- 4.52%
- 6M
- 10.81%
- 1Y
- 32.85%
- 3Y*
- 18.43%
- 5Y*
- 9.82%
- 10Y*
- 11.07%
PZIEX
- 1D
- -1.41%
- 1M
- -11.82%
- YTD
- 4.56%
- 6M
- 10.95%
- 1Y
- 33.26%
- 3Y*
- 18.81%
- 5Y*
- 10.19%
- 10Y*
- 11.43%
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PZVEX vs. PZIEX - Expense Ratio Comparison
PZVEX has a 1.43% expense ratio, which is higher than PZIEX's 1.08% expense ratio.
Return for Risk
PZVEX vs. PZIEX — Risk / Return Rank
PZVEX
PZIEX
PZVEX vs. PZIEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pzena Emerging Markets Value Fund (PZVEX) and Pzena Emerging Markets Value Fund Institutional Class (PZIEX). 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.
| PZVEX | PZIEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.04 | 2.07 | -0.03 |
Sortino ratioReturn per unit of downside risk | 2.48 | 2.52 | -0.04 |
Omega ratioGain probability vs. loss probability | 1.39 | 1.39 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 2.37 | 2.40 | -0.04 |
Martin ratioReturn relative to average drawdown | 9.13 | 9.28 | -0.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PZVEX | PZIEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.04 | 2.07 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.71 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | 0.75 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.57 | -0.02 |
Correlation
The correlation between PZVEX and PZIEX is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PZVEX vs. PZIEX - Dividend Comparison
PZVEX's dividend yield for the trailing twelve months is around 4.38%, less than PZIEX's 4.60% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PZVEX Pzena Emerging Markets Value Fund | 4.38% | 4.58% | 7.03% | 5.49% | 1.80% | 2.46% | 1.08% | 6.07% | 0.97% | 1.24% | 0.71% | 1.90% |
PZIEX Pzena Emerging Markets Value Fund Institutional Class | 4.60% | 4.81% | 7.38% | 5.79% | 2.08% | 2.79% | 1.28% | 6.32% | 1.28% | 1.41% | 0.98% | 2.23% |
Drawdowns
PZVEX vs. PZIEX - Drawdown Comparison
The maximum PZVEX drawdown since its inception was -45.00%, roughly equal to the maximum PZIEX drawdown of -44.59%. Use the drawdown chart below to compare losses from any high point for PZVEX and PZIEX.
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Drawdown Indicators
| PZVEX | PZIEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.00% | -44.59% | -0.41% |
Max Drawdown (1Y)Largest decline over 1 year | -12.75% | -12.73% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -25.73% | -25.38% | -0.35% |
Max Drawdown (10Y)Largest decline over 10 years | -45.00% | -44.59% | -0.41% |
Current DrawdownCurrent decline from peak | -12.75% | -12.73% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -9.85% | -9.64% | -0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 3.29% | +0.01% |
Volatility
PZVEX vs. PZIEX - Volatility Comparison
Pzena Emerging Markets Value Fund (PZVEX) and Pzena Emerging Markets Value Fund Institutional Class (PZIEX) have volatilities of 7.68% and 7.69%, 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.
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Volatility by Period
| PZVEX | PZIEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.68% | 7.69% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 11.65% | 11.62% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.51% | 15.48% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.51% | 14.51% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.29% | 15.31% | -0.02% |