TAVFX vs. SMLF
Compare and contrast key facts about Third Avenue Value Fund (TAVFX) and iShares MSCI USA Small-Cap Multifactor ETF (SMLF).
TAVFX is managed by Third Avenue. It was launched on Oct 31, 1990. SMLF is a passively managed fund by iShares that tracks the performance of the MSCI USA Small Cap Diversified Multi-Factor. It was launched on Apr 28, 2015.
Performance
TAVFX vs. SMLF - Performance Comparison
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TAVFX vs. SMLF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TAVFX Third Avenue Value Fund | 4.52% | 35.93% | -2.43% | 20.26% | 17.46% | 22.39% | 7.76% | 12.95% | -25.95% | 8.81% |
SMLF iShares MSCI USA Small-Cap Multifactor ETF | 1.08% | 12.30% | 16.33% | 19.99% | -12.19% | 26.53% | 8.38% | 21.56% | -8.42% | 12.70% |
Returns By Period
In the year-to-date period, TAVFX achieves a 4.52% return, which is significantly higher than SMLF's 1.08% return. Over the past 10 years, TAVFX has underperformed SMLF with an annualized return of 10.23%, while SMLF has yielded a comparatively higher 11.24% annualized return.
TAVFX
- 1D
- -0.38%
- 1M
- -8.23%
- YTD
- 4.52%
- 6M
- 12.39%
- 1Y
- 37.60%
- 3Y*
- 15.33%
- 5Y*
- 14.83%
- 10Y*
- 10.23%
SMLF
- 1D
- 3.34%
- 1M
- -4.37%
- YTD
- 1.08%
- 6M
- 2.12%
- 1Y
- 22.93%
- 3Y*
- 15.22%
- 5Y*
- 8.55%
- 10Y*
- 11.24%
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TAVFX vs. SMLF - Expense Ratio Comparison
TAVFX has a 1.15% expense ratio, which is higher than SMLF's 0.30% expense ratio.
Return for Risk
TAVFX vs. SMLF — Risk / Return Rank
TAVFX
SMLF
TAVFX vs. SMLF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Third Avenue Value Fund (TAVFX) and iShares MSCI USA Small-Cap Multifactor ETF (SMLF). 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.
| TAVFX | SMLF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.89 | 1.02 | +0.87 |
Sortino ratioReturn per unit of downside risk | 2.47 | 1.55 | +0.93 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.21 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 2.44 | 1.56 | +0.88 |
Martin ratioReturn relative to average drawdown | 10.14 | 6.74 | +3.40 |
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
| TAVFX | SMLF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.89 | 1.02 | +0.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.41 | -0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | 0.52 | -0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.49 | -0.19 |
Correlation
The correlation between TAVFX and SMLF is 0.70, 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
TAVFX vs. SMLF - Dividend Comparison
TAVFX's dividend yield for the trailing twelve months is around 6.64%, more than SMLF's 1.17% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TAVFX Third Avenue Value Fund | 6.64% | 6.93% | 9.86% | 4.48% | 5.67% | 3.74% | 0.70% | 5.95% | 4.45% | 3.03% | 8.24% | 8.43% |
SMLF iShares MSCI USA Small-Cap Multifactor ETF | 1.17% | 1.14% | 1.33% | 1.13% | 1.23% | 1.07% | 1.33% | 1.39% | 1.17% | 0.93% | 0.78% | 0.79% |
Drawdowns
TAVFX vs. SMLF - Drawdown Comparison
The maximum TAVFX drawdown since its inception was -66.11%, which is greater than SMLF's maximum drawdown of -41.89%. Use the drawdown chart below to compare losses from any high point for TAVFX and SMLF.
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Drawdown Indicators
| TAVFX | SMLF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.11% | -41.89% | -24.22% |
Max Drawdown (1Y)Largest decline over 1 year | -13.19% | -14.59% | +1.40% |
Max Drawdown (5Y)Largest decline over 5 years | -66.11% | -26.28% | -39.83% |
Max Drawdown (10Y)Largest decline over 10 years | -66.11% | -41.89% | -24.22% |
Current DrawdownCurrent decline from peak | -8.57% | -5.66% | -2.91% |
Average DrawdownAverage peak-to-trough decline | -9.61% | -6.68% | -2.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.25% | 3.38% | -0.13% |
Volatility
TAVFX vs. SMLF - Volatility Comparison
The current volatility for Third Avenue Value Fund (TAVFX) is 5.69%, while iShares MSCI USA Small-Cap Multifactor ETF (SMLF) has a volatility of 7.09%. This indicates that TAVFX experiences smaller price fluctuations and is considered to be less risky than SMLF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TAVFX | SMLF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.69% | 7.09% | -1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 11.32% | 13.36% | -2.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.05% | 22.67% | -3.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.99% | 21.14% | +60.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.29% | 21.75% | +38.54% |