TGVOX vs. KSMIX

Last updated Jun 5, 2026

TGVOX (TCW Relative Value Mid Cap Fund) and KSMIX (Keeley Small-Mid Cap Value Fund) are both Mid Cap Value Equities funds. Over the past 10 years, TGVOX returned 12.50%/yr vs 10.55%/yr for KSMIX. Their correlation of 0.94 suggests significant overlap in exposure. TGVOX charges 0.85%/yr vs 1.18%/yr for KSMIX.

Performance

TGVOX vs. KSMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Relative Value Mid Cap Fund (TGVOX) and Keeley Small-Mid Cap Value Fund (KSMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TGVOX achieves a 17.95% return, which is significantly higher than KSMIX's 12.67% return. Over the past 10 years, TGVOX has outperformed KSMIX with an annualized return of 12.50%, while KSMIX has yielded a comparatively lower 10.55% annualized return.

TGVOX

• 1D: -0.22%
• 1M: -0.03%
• YTD: 17.95%
• 6M: 18.56%
• 1Y: 36.27%
• 3Y*: 22.09%
• 5Y*: 10.61%
• 10Y*: 12.50%

KSMIX

• 1D: -0.68%
• 1M: -1.06%
• YTD: 12.67%
• 6M: 11.51%
• 1Y: 25.02%
• 3Y*: 17.48%
• 5Y*: 8.05%
• 10Y*: 10.55%

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

TGVOX vs. KSMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TGVOX TCW Relative Value Mid Cap Fund	17.95%	15.53%	17.26%	15.99%	-11.80%	31.99%	3.66%	29.34%	-22.17%	19.74%
KSMIX Keeley Small-Mid Cap Value Fund	12.67%	9.86%	14.18%	19.43%	-12.85%	26.28%	0.79%	31.89%	-17.49%	18.26%

Correlation

The correlation between TGVOX and KSMIX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Aug 17, 2007	0.94

The correlation between TGVOX and KSMIX has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.

Return for Risk

TGVOX vs. KSMIX — Risk / Return Rank

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

TGVOX

TGVOX Risk / Return Rank: 75
TGVOX Sharpe Ratio Rank: 74
TGVOX Sortino Ratio Rank: 70
TGVOX Omega Ratio Rank: 62
TGVOX Calmar Ratio Rank: 85
TGVOX Martin Ratio Rank: 83

KSMIX

KSMIX Risk / Return Rank: 37
KSMIX Sharpe Ratio Rank: 31
KSMIX Sortino Ratio Rank: 32
KSMIX Omega Ratio Rank: 29
KSMIX Calmar Ratio Rank: 46
KSMIX Martin Ratio Rank: 46

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.

TGVOX vs. KSMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Relative Value Mid Cap Fund (TGVOX) and Keeley Small-Mid Cap Value Fund (KSMIX). 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.

	TGVOX	KSMIX	Difference
Sharpe ratio: Return per unit of total volatility	2.49	1.55	+0.94
Sortino ratio: Return per unit of downside risk	3.46	2.29	+1.17
Omega ratio: Gain probability vs. loss probability	1.43	1.27	+0.16
Calmar ratio: Return relative to maximum drawdown	3.97	2.55	+1.42
Martin ratio: Return relative to average drawdown	15.27	9.41	+5.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TGVOX vs. KSMIX - Sharpe Ratio Comparison

The current TGVOX Sharpe Ratio is 2.49, which is higher than the KSMIX Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of TGVOX and KSMIX, 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

	TGVOX	KSMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	1.55	+0.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.37	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.44	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.34	+0.11

Drawdowns

TGVOX vs. KSMIX - Drawdown Comparison

The maximum TGVOX drawdown since its inception was -58.14%, smaller than the maximum KSMIX drawdown of -67.52%. Use the drawdown chart below to compare losses from any high point for TGVOX and KSMIX.

Drawdown Indicators

	TGVOX	KSMIX	Difference
Max Drawdown Largest peak-to-trough decline	-58.14%	-67.52%	+9.38%
Max Drawdown (1Y) Largest decline over 1 year	-9.04%	-9.49%	+0.45%
Max Drawdown (3Y) Largest decline over 3 years	-22.69%	-29.45%	+6.76%
Max Drawdown (5Y) Largest decline over 5 years	-23.81%	-29.45%	+5.64%
Max Drawdown (10Y) Largest decline over 10 years	-51.10%	-52.10%	+1.00%
Current Drawdown Current decline from peak	-0.22%	-2.11%	+1.89%
Average Drawdown Average peak-to-trough decline	-10.30%	-11.04%	+0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	2.56%	-0.22%

Volatility

TGVOX vs. KSMIX - Volatility Comparison

TCW Relative Value Mid Cap Fund (TGVOX) and Keeley Small-Mid Cap Value Fund (KSMIX) have volatilities of 3.96% and 4.14%, 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

	TGVOX	KSMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	4.14%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	10.84%	10.96%	-0.12%
Volatility (1Y) Calculated over the trailing 1-year period	14.43%	15.67%	-1.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.55%	21.72%	-2.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.30%	24.04%	-1.74%

TGVOX vs. KSMIX - Expense Ratio Comparison

TGVOX has a 0.85% expense ratio, which is lower than KSMIX's 1.18% expense ratio.

Dividends

TGVOX vs. KSMIX - Dividend Comparison

TGVOX's dividend yield for the trailing twelve months is around 18.40%, more than KSMIX's 9.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KSMIX Keeley Small-Mid Cap Value Fund	9.00%	10.14%	14.14%	9.24%	15.42%	28.48%	5.46%	18.92%	14.34%	11.18%	8.70%	4.14%
TGVOX TCW Relative Value Mid Cap Fund	18.40%	21.70%	9.54%	2.34%	2.54%	12.69%	0.75%	2.43%	9.90%	8.25%	0.56%	16.12%

Frequently Asked Questions

Can I hold both TGVOX and KSMIX in my portfolio?

TGVOX and KSMIX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TGVOX or KSMIX?

KSMIX has higher volatility (4.14%) compared to TGVOX (3.96%). In terms of maximum drawdown, TGVOX dropped -58.14% vs KSMIX's -67.52%.

Which has better risk-adjusted returns?

TGVOX currently has the higher Sharpe Ratio (2.49 vs 1.55), 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.