PZVIX vs. HLMSX
Compare and contrast key facts about Pzena International Small Cap Value Fund (PZVIX) and Harding Loevner International Small Companies Portfolio (HLMSX).
PZVIX is managed by Pzena. It was launched on Jul 1, 2018. HLMSX is managed by Harding Loevner. It was launched on Mar 25, 2007.
Performance
PZVIX vs. HLMSX - Performance Comparison
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PZVIX vs. HLMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PZVIX Pzena International Small Cap Value Fund | -5.16% | 29.00% | 5.02% | 22.39% | -1.11% | 16.67% | -2.21% | 10.94% | -15.13% |
HLMSX Harding Loevner International Small Companies Portfolio | -3.25% | 14.87% | -6.92% | 11.78% | -24.50% | 12.82% | 18.51% | 29.45% | -15.97% |
Returns By Period
In the year-to-date period, PZVIX achieves a -5.16% return, which is significantly lower than HLMSX's -3.25% return.
PZVIX
- 1D
- 1.20%
- 1M
- -10.59%
- YTD
- -5.16%
- 6M
- -1.85%
- 1Y
- 18.76%
- 3Y*
- 12.28%
- 5Y*
- 9.51%
- 10Y*
- —
HLMSX
- 1D
- 2.21%
- 1M
- -5.44%
- YTD
- -3.25%
- 6M
- -5.18%
- 1Y
- 8.56%
- 3Y*
- 3.59%
- 5Y*
- -0.47%
- 10Y*
- 5.40%
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PZVIX vs. HLMSX - Expense Ratio Comparison
PZVIX has a 1.45% expense ratio, which is higher than HLMSX's 1.37% expense ratio.
Return for Risk
PZVIX vs. HLMSX — Risk / Return Rank
PZVIX
HLMSX
PZVIX vs. HLMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pzena International Small Cap Value Fund (PZVIX) and Harding Loevner International Small Companies Portfolio (HLMSX). 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.
| PZVIX | HLMSX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.19 | 0.67 | +0.52 |
Sortino ratioReturn per unit of downside risk | 1.64 | 0.96 | +0.68 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.13 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 1.16 | 0.72 | +0.44 |
Martin ratioReturn relative to average drawdown | 4.06 | 1.83 | +2.23 |
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
| PZVIX | HLMSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 0.67 | +0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.61 | -0.03 | +0.65 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.33 | +0.04 |
Correlation
The correlation between PZVIX and HLMSX is 0.70, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
PZVIX vs. HLMSX - Dividend Comparison
PZVIX's dividend yield for the trailing twelve months is around 2.76%, less than HLMSX's 4.17% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PZVIX Pzena International Small Cap Value Fund | 2.76% | 2.62% | 10.86% | 4.15% | 4.57% | 0.83% | 1.11% | 2.01% | 2.03% | 0.00% | 0.00% | 0.00% |
HLMSX Harding Loevner International Small Companies Portfolio | 4.17% | 4.04% | 1.17% | 1.00% | 1.83% | 2.82% | 0.03% | 0.52% | 7.56% | 1.13% | 4.37% | 1.54% |
Drawdowns
PZVIX vs. HLMSX - Drawdown Comparison
The maximum PZVIX drawdown since its inception was -56.15%, smaller than the maximum HLMSX drawdown of -60.77%. Use the drawdown chart below to compare losses from any high point for PZVIX and HLMSX.
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Drawdown Indicators
| PZVIX | HLMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.15% | -60.77% | +4.62% |
Max Drawdown (1Y)Largest decline over 1 year | -14.59% | -10.59% | -4.00% |
Max Drawdown (5Y)Largest decline over 5 years | -26.33% | -38.22% | +11.89% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.22% | — |
Current DrawdownCurrent decline from peak | -13.22% | -17.42% | +4.20% |
Average DrawdownAverage peak-to-trough decline | -10.11% | -13.24% | +3.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.18% | 4.19% | -0.01% |
Volatility
PZVIX vs. HLMSX - Volatility Comparison
Pzena International Small Cap Value Fund (PZVIX) has a higher volatility of 6.30% compared to Harding Loevner International Small Companies Portfolio (HLMSX) at 5.45%. This indicates that PZVIX's price experiences larger fluctuations and is considered to be riskier than HLMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PZVIX | HLMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.30% | 5.45% | +0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 9.96% | 8.63% | +1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.44% | 13.41% | +3.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.54% | 14.94% | +0.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.43% | 14.88% | +3.55% |