RPMAX vs. VSMAX

Last updated Jun 4, 2026

RPMAX (Reinhart Genesis PMV Fund) and VSMAX (Vanguard Small-Cap Index Fund Admiral Shares) are both Small Cap Blend Equities funds. Over the past 5 years, RPMAX returned 12.61%/yr vs 7.34%/yr for VSMAX. Their correlation of 0.91 suggests significant overlap in exposure. RPMAX charges 1.20%/yr vs 0.05%/yr for VSMAX.

Performance

RPMAX vs. VSMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Reinhart Genesis PMV Fund (RPMAX) and Vanguard Small-Cap Index Fund Admiral Shares (VSMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RPMAX achieves a 20.12% return, which is significantly higher than VSMAX's 14.94% return.

RPMAX

• 1D: 1.03%
• 1M: 5.77%
• YTD: 20.12%
• 6M: 21.11%
• 1Y: 32.96%
• 3Y*: 18.42%
• 5Y*: 12.61%
• 10Y*: —

VSMAX

• 1D: 0.80%
• 1M: 4.24%
• YTD: 14.94%
• 6M: 14.89%
• 1Y: 29.65%
• 3Y*: 17.30%
• 5Y*: 7.34%
• 10Y*: 11.37%

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

RPMAX vs. VSMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
RPMAX Reinhart Genesis PMV Fund	20.12%	5.13%	14.59%	23.64%	-4.00%	23.59%	4.18%	21.69%	-8.63%
VSMAX Vanguard Small-Cap Index Fund Admiral Shares	14.94%	8.83%	14.23%	18.17%	-17.61%	17.74%	19.06%	27.36%	-14.47%

Correlation

The correlation between RPMAX and VSMAX is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jun 4, 2018	0.91

The correlation between RPMAX and VSMAX has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.

Return for Risk

RPMAX vs. VSMAX — Risk / Return Rank

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

RPMAX

RPMAX Risk / Return Rank: 54
RPMAX Sharpe Ratio Rank: 45
RPMAX Sortino Ratio Rank: 44
RPMAX Omega Ratio Rank: 38
RPMAX Calmar Ratio Rank: 82
RPMAX Martin Ratio Rank: 62

VSMAX

VSMAX Risk / Return Rank: 54
VSMAX Sharpe Ratio Rank: 44
VSMAX Sortino Ratio Rank: 43
VSMAX Omega Ratio Rank: 40
VSMAX Calmar Ratio Rank: 77
VSMAX Martin Ratio Rank: 67

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.

RPMAX vs. VSMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Reinhart Genesis PMV Fund (RPMAX) and Vanguard Small-Cap Index Fund Admiral Shares (VSMAX). 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.

	RPMAX	VSMAX	Difference
Sharpe ratio: Return per unit of total volatility	1.97	1.94	+0.03
Sortino ratio: Return per unit of downside risk	2.79	2.74	+0.05
Omega ratio: Gain probability vs. loss probability	1.33	1.33	0.00
Calmar ratio: Return relative to maximum drawdown	3.82	3.51	+0.30
Martin ratio: Return relative to average drawdown	12.37	12.97	-0.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RPMAX vs. VSMAX - Sharpe Ratio Comparison

The current RPMAX Sharpe Ratio is 1.97, which is comparable to the VSMAX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of RPMAX and VSMAX, 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

	RPMAX	VSMAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	1.94	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.36	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.39	+0.13

Drawdowns

RPMAX vs. VSMAX - Drawdown Comparison

The maximum RPMAX drawdown since its inception was -45.05%, smaller than the maximum VSMAX drawdown of -59.68%. Use the drawdown chart below to compare losses from any high point for RPMAX and VSMAX.

Drawdown Indicators

	RPMAX	VSMAX	Difference
Max Drawdown Largest peak-to-trough decline	-45.05%	-59.68%	+14.63%
Max Drawdown (1Y) Largest decline over 1 year	-9.24%	-8.97%	-0.27%
Max Drawdown (3Y) Largest decline over 3 years	-23.65%	-25.25%	+1.60%
Max Drawdown (5Y) Largest decline over 5 years	-23.65%	-28.14%	+4.49%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.82%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.58%	-9.70%	+3.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	2.43%	+0.41%

Volatility

RPMAX vs. VSMAX - Volatility Comparison

Reinhart Genesis PMV Fund (RPMAX) and Vanguard Small-Cap Index Fund Admiral Shares (VSMAX) have volatilities of 4.40% and 4.40%, 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.

Volatility by Period

	RPMAX	VSMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.40%	4.40%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	12.49%	11.72%	+0.77%
Volatility (1Y) Calculated over the trailing 1-year period	17.92%	16.27%	+1.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.00%	20.71%	-0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.79%	21.57%	+1.22%

RPMAX vs. VSMAX - Expense Ratio Comparison

RPMAX has a 1.20% expense ratio, which is higher than VSMAX's 0.05% expense ratio.

Dividends

RPMAX vs. VSMAX - Dividend Comparison

RPMAX's dividend yield for the trailing twelve months is around 6.40%, more than VSMAX's 1.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RPMAX Reinhart Genesis PMV Fund	6.40%	7.69%	4.32%	2.87%	7.00%	4.22%	0.06%	0.42%	1.28%	0.00%	0.00%	0.00%
VSMAX Vanguard Small-Cap Index Fund Admiral Shares	1.18%	1.33%	1.30%	1.56%	1.54%	1.24%	1.14%	1.39%	1.67%	1.35%	1.49%	1.48%

Frequently Asked Questions

Can I hold both RPMAX and VSMAX in my portfolio?

RPMAX and VSMAX 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.

Which is riskier, RPMAX or VSMAX?

VSMAX has higher volatility (4.40%) compared to RPMAX (4.40%). In terms of maximum drawdown, RPMAX dropped -45.05% vs VSMAX's -59.68%.

Which has better risk-adjusted returns?

RPMAX currently has the higher Sharpe Ratio (1.97 vs 1.94), 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.