SMVTX vs. HNMVX

Last updated Aug 4, 2026

SMVTX (Virtus Ceredex Mid-Cap Value Equity Fund) and HNMVX (Harbor Mid Cap Value Fund Retirement Class) are both Mid Cap Value Equities funds. Over the past 10 years, SMVTX returned 11.68%/yr vs 11.08%/yr for HNMVX. Their correlation of 0.88 means they have usually moved in the same direction. SMVTX charges 0.99%/yr vs 0.77%/yr for HNMVX.

Performance

SMVTX vs. HNMVX - Performance Comparison

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

Returns By Period

In the year-to-date period, SMVTX achieves a 16.78% return, which is significantly lower than HNMVX's 23.70% return. Over the past 10 years, SMVTX has outperformed HNMVX with an annualized return of 11.68%, while HNMVX has yielded a comparatively lower 11.08% annualized return.

SMVTX

• 1D: 0.22%
• 1M: -3.73%
• 6M: 7.60%
• YTD: 16.78%
• 1Y: 29.69%
• 3Y*: 19.34%
• 5Y*: 10.99%
• 10Y*: 11.68%
• ALL TIME*: 10.05%

HNMVX

• 1D: -0.41%
• 1M: 3.16%
• 6M: 16.17%
• YTD: 23.70%
• 1Y: 40.62%
• 3Y*: 19.16%
• 5Y*: 13.21%
• 10Y*: 11.08%
• ALL TIME*: 11.42%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HNMVX Harbor Mid Cap Value Fund Retirement Class	$0.00	$0.00	$0.00
SMVTX Virtus Ceredex Mid-Cap Value Equity Fund	$0.00	$0.00	$0.00

SMVTX vs. HNMVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMVTX Virtus Ceredex Mid-Cap Value Equity Fund	16.78%	17.58%	18.93%	10.94%	-13.89%	29.15%	-1.19%	33.14%	-8.01%	11.69%
HNMVX Harbor Mid Cap Value Fund Retirement Class	23.70%	16.06%	12.22%	16.52%	-5.58%	30.06%	-3.70%	23.06%	-17.76%	12.09%

Correlation

The correlation between SMVTX and HNMVX is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.74
Correlation (3Y) Balances recent behavior with more history.	0.84
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (10Y) Provides a long-term view across more market conditions.	0.88
Correlation (All Time) Calculated using the full available price history since Mar 1, 2016	0.88

The correlation between SMVTX and HNMVX shifts across timeframes, from 0.74 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SMVTX vs. HNMVX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SMVTX

SMVTX Risk / Return Rank: 74
SMVTX Sharpe Ratio Rank: 69
SMVTX Sortino Ratio Rank: 67
SMVTX Omega Ratio Rank: 61
SMVTX Calmar Ratio Rank: 89
SMVTX Martin Ratio Rank: 85

HNMVX

HNMVX Risk / Return Rank: 97
HNMVX Sharpe Ratio Rank: 98
HNMVX Sortino Ratio Rank: 97
HNMVX Omega Ratio Rank: 95
HNMVX Calmar Ratio Rank: 98
HNMVX Martin Ratio Rank: 98

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SMVTX vs. HNMVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Ceredex Mid-Cap Value Equity Fund (SMVTX) and Harbor Mid Cap Value Fund Retirement Class (HNMVX). 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.

	SMVTX	HNMVX	Difference
Sharpe ratio: Return per unit of total volatility	1.70	3.01	-1.31
Sortino ratio: Return per unit of downside risk	2.42	4.38	-1.96
Omega ratio: Gain probability vs. loss probability	1.29	1.54	-0.24
Calmar ratio: Return relative to maximum drawdown	3.45	5.71	-2.26
Martin ratio: Return relative to average drawdown	11.24	21.49	-10.24

SMVTX vs. HNMVX - Sharpe Ratio Comparison

The current SMVTX Sharpe Ratio is 1.70, which is lower than the HNMVX Sharpe Ratio of 3.01. The chart below compares the historical Sharpe Ratios of SMVTX and HNMVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SMVTX vs. HNMVX - Drawdown Comparison

The maximum SMVTX drawdown since its inception was -54.72%, which is greater than HNMVX's maximum drawdown of -51.33%. Use the drawdown chart below to compare losses from any high point for SMVTX and HNMVX.

Drawdown Indicators

	SMVTX	HNMVX	Difference
Max Drawdown Largest peak-to-trough decline	-54.72%	-51.33%	-3.39%
Max Drawdown (1Y) Largest decline over 1 year	-8.10%	-6.84%	-1.26%
Max Drawdown (3Y) Largest decline over 3 years	-24.75%	-21.00%	-3.75%
Max Drawdown (5Y) Largest decline over 5 years	-25.44%	-21.00%	-4.44%
Max Drawdown (10Y) Largest decline over 10 years	-45.45%	-51.33%	+5.88%
Current Drawdown Current decline from peak	-6.81%	-1.31%	-5.50%
Average Drawdown Average peak-to-trough decline	-8.20%	-7.02%	-1.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	1.82%	+0.66%

Volatility

SMVTX vs. HNMVX - Volatility Comparison

Virtus Ceredex Mid-Cap Value Equity Fund (SMVTX) has a higher volatility of 3.95% compared to Harbor Mid Cap Value Fund Retirement Class (HNMVX) at 2.94%. This indicates that SMVTX's price experiences larger fluctuations and is considered to be riskier than HNMVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMVTX	HNMVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	2.94%	+1.01%
Volatility (6M) Calculated over the trailing 6-month period	12.77%	8.87%	+3.90%
Volatility (1Y) Calculated over the trailing 1-year period	16.44%	13.01%	+3.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.54%	18.70%	+1.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.60%	21.84%	-1.24%

SMVTX vs. HNMVX - Expense Ratio Comparison

SMVTX has a 0.99% expense ratio, which is higher than HNMVX's 0.77% expense ratio.

Dividends

SMVTX vs. HNMVX - Dividend Comparison

SMVTX's dividend yield for the trailing twelve months is around 14.95%, more than HNMVX's 7.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HNMVX Harbor Mid Cap Value Fund Retirement Class	7.09%	8.77%	5.87%	7.28%	8.35%	1.35%	2.43%	3.21%	8.52%	3.91%	3.11%	0.00%
SMVTX Virtus Ceredex Mid-Cap Value Equity Fund	14.95%	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 SMVTX and HNMVX in my portfolio?

SMVTX and HNMVX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMVTX or HNMVX?

SMVTX has higher volatility (3.95%) compared to HNMVX (2.94%). In terms of maximum drawdown, SMVTX dropped -54.72% vs HNMVX's -51.33%.

Which has better risk-adjusted returns?

HNMVX currently has the higher Sharpe Ratio (3.01 vs 1.70), 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.