PZVSX vs. DHSIX
PZVSX (Pzena Small Cap Value Fund) and DHSIX (Diamond Hill Small Cap Fund Class I) are both Small Cap Value Equities funds. Over the past 5 years, PZVSX returned 8.70%/yr vs 13.77%/yr for DHSIX. Their correlation of 0.91 means they have usually moved in the same direction. PZVSX charges 1.52%/yr vs 0.97%/yr for DHSIX.
Performance
PZVSX vs. DHSIX - Performance Comparison
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Returns By Period
In the year-to-date period, PZVSX achieves a 23.93% return, which is significantly lower than DHSIX's 28.15% return.
PZVSX
- 1D
- -1.23%
- 1M
- 3.36%
- 6M
- 14.86%
- YTD
- 23.93%
- 1Y
- 32.08%
- 3Y*
- 9.24%
- 5Y*
- 8.70%
- 10Y*
- —
- ALL TIME*
- 7.33%
DHSIX
- 1D
- 0.47%
- 1M
- -0.22%
- 6M
- 20.16%
- YTD
- 28.15%
- 1Y
- 43.01%
- 3Y*
- 19.62%
- 5Y*
- 13.77%
- 10Y*
- 10.95%
- ALL TIME*
- 8.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PZVSX vs. DHSIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PZVSX Pzena Small Cap Value Fund | 23.93% | -4.94% | 1.62% | 25.62% | -5.33% | 27.93% | -0.09% | 24.84% | -15.19% | 2.10% |
DHSIX Diamond Hill Small Cap Fund Class I | 28.15% | 11.83% | 13.10% | 24.25% | -14.85% | 32.69% | -0.27% | 21.83% | -15.00% | 10.89% |
Correlation
The correlation between PZVSX and DHSIX is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.91 |
The correlation between PZVSX and DHSIX has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.
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Return for Risk
PZVSX vs. DHSIX — Risk / Return Rank
PZVSX
DHSIX
PZVSX vs. DHSIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pzena Small Cap Value Fund (PZVSX) and Diamond Hill Small Cap Fund Class I (DHSIX). 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.
| PZVSX | DHSIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.34 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 3.52 | -1.78 |
| Martin ratioReturn relative to average drawdown | 4.39 | 11.51 | -7.11 |
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Drawdowns
PZVSX vs. DHSIX - Drawdown Comparison
The maximum PZVSX drawdown since its inception was -54.22%, roughly equal to the maximum DHSIX drawdown of -52.83%. Use the drawdown chart below to compare losses from any high point for PZVSX and DHSIX.
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Drawdown Indicators
| PZVSX | DHSIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.22% | -52.83% | -1.39% |
Max Drawdown (1Y)Largest decline over 1 year | -15.26% | -10.97% | -4.29% |
Max Drawdown (3Y)Largest decline over 3 years | -32.43% | -28.33% | -4.10% |
Max Drawdown (5Y)Largest decline over 5 years | -32.43% | -28.33% | -4.10% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.96% | — |
Current DrawdownCurrent decline from peak | -1.90% | -1.37% | -0.53% |
Average DrawdownAverage peak-to-trough decline | -10.34% | -8.32% | -2.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.02% | 3.37% | +2.65% |
Volatility
PZVSX vs. DHSIX - Volatility Comparison
Pzena Small Cap Value Fund (PZVSX) and Diamond Hill Small Cap Fund Class I (DHSIX) have volatilities of 5.75% and 5.76%, 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
| PZVSX | DHSIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.75% | 5.76% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 14.79% | 14.13% | +0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.76% | 19.89% | +1.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.14% | 21.48% | +2.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.36% | 22.25% | +5.11% |
PZVSX vs. DHSIX - Expense Ratio Comparison
PZVSX has a 1.52% expense ratio, which is higher than DHSIX's 0.97% expense ratio.
Dividends
PZVSX vs. DHSIX - Dividend Comparison
PZVSX's dividend yield for the trailing twelve months is around 1.88%, less than DHSIX's 4.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHSIX Diamond Hill Small Cap Fund Class I | 4.48% | 5.74% | 15.81% | 30.09% | 18.06% | 17.39% | 0.61% | 7.13% | 10.46% | 6.90% | 2.68% | 1.95% |
PZVSX Pzena Small Cap Value Fund | 1.88% | 2.33% | 7.03% | 0.45% | 17.31% | 1.25% | 1.39% | 0.00% | 4.56% | 7.54% | 0.00% | 0.00% |
Frequently Asked Questions
PZVSX and DHSIX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DHSIX has higher volatility (5.76%) compared to PZVSX (5.75%). In terms of maximum drawdown, PZVSX dropped -54.22% vs DHSIX's -52.83%.
DHSIX currently has the higher Sharpe Ratio (1.94 vs 1.22), 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.
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