UBVLX vs. VRTVX

Last updated Jun 4, 2026

UBVLX (Undiscovered Managers Behavioral Value Fund) and VRTVX (Vanguard Russell 2000 Value Index Fund Institutional Shares) are both Small Cap Value Equities funds. Over the past 10 years, UBVLX returned 10.03%/yr vs 10.48%/yr for VRTVX. Their correlation of 0.95 suggests significant overlap in exposure. UBVLX charges 0.90%/yr vs 0.08%/yr for VRTVX.

Performance

UBVLX vs. VRTVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Undiscovered Managers Behavioral Value Fund (UBVLX) and Vanguard Russell 2000 Value Index Fund Institutional Shares (VRTVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UBVLX achieves a 7.51% return, which is significantly lower than VRTVX's 18.94% return. Both investments have delivered pretty close results over the past 10 years, with UBVLX having a 10.03% annualized return and VRTVX not far ahead at 10.48%.

UBVLX

• 1D: 0.54%
• 1M: 2.17%
• YTD: 7.51%
• 6M: 8.50%
• 1Y: 14.80%
• 3Y*: 12.83%
• 5Y*: 7.29%
• 10Y*: 10.03%

VRTVX

• 1D: 0.95%
• 1M: 4.04%
• YTD: 18.94%
• 6M: 18.07%
• 1Y: 43.21%
• 3Y*: 18.32%
• 5Y*: 6.89%
• 10Y*: 10.48%

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

UBVLX vs. VRTVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UBVLX Undiscovered Managers Behavioral Value Fund	7.51%	1.79%	13.11%	14.69%	-1.16%	34.25%	3.52%	23.27%	-15.23%	13.43%
VRTVX Vanguard Russell 2000 Value Index Fund Institutional Shares	18.94%	12.21%	8.07%	14.71%	-14.52%	28.06%	4.81%	22.40%	-12.83%	7.91%

Correlation

The correlation between UBVLX and VRTVX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Sep 23, 2010	0.95

The correlation between UBVLX and VRTVX has been stable across timeframes, ranging from 0.87 to 0.95 - a consistent structural relationship.

Return for Risk

UBVLX vs. VRTVX — Risk / Return Rank

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

UBVLX

UBVLX Risk / Return Rank: 15
UBVLX Sharpe Ratio Rank: 13
UBVLX Sortino Ratio Rank: 15
UBVLX Omega Ratio Rank: 13
UBVLX Calmar Ratio Rank: 19
UBVLX Martin Ratio Rank: 16

VRTVX

VRTVX Risk / Return Rank: 78
VRTVX Sharpe Ratio Rank: 77
VRTVX Sortino Ratio Rank: 73
VRTVX Omega Ratio Rank: 59
VRTVX Calmar Ratio Rank: 94
VRTVX Martin Ratio Rank: 90

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.

UBVLX vs. VRTVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Undiscovered Managers Behavioral Value Fund (UBVLX) and Vanguard Russell 2000 Value Index Fund Institutional Shares (VRTVX). 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.

	UBVLX	VRTVX	Difference
Sharpe ratio: Return per unit of total volatility	0.99	2.54	-1.55
Sortino ratio: Return per unit of downside risk	1.59	3.54	-1.95
Omega ratio: Gain probability vs. loss probability	1.18	1.43	-0.25
Calmar ratio: Return relative to maximum drawdown	1.60	5.34	-3.74
Martin ratio: Return relative to average drawdown	4.45	18.14	-13.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UBVLX vs. VRTVX - Sharpe Ratio Comparison

The current UBVLX Sharpe Ratio is 0.99, which is lower than the VRTVX Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of UBVLX and VRTVX, 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

	UBVLX	VRTVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	2.54	-1.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.32	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.44	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.48	-0.01

Drawdowns

UBVLX vs. VRTVX - Drawdown Comparison

The maximum UBVLX drawdown since its inception was -67.24%, which is greater than VRTVX's maximum drawdown of -45.98%. Use the drawdown chart below to compare losses from any high point for UBVLX and VRTVX.

Drawdown Indicators

	UBVLX	VRTVX	Difference
Max Drawdown Largest peak-to-trough decline	-67.24%	-45.98%	-21.26%
Max Drawdown (1Y) Largest decline over 1 year	-10.32%	-8.54%	-1.78%
Max Drawdown (3Y) Largest decline over 3 years	-21.46%	-26.85%	+5.39%
Max Drawdown (5Y) Largest decline over 5 years	-21.46%	-26.85%	+5.39%
Max Drawdown (10Y) Largest decline over 10 years	-52.08%	-45.98%	-6.10%
Current Drawdown Current decline from peak	-2.08%	-0.25%	-1.83%
Average Drawdown Average peak-to-trough decline	-9.27%	-7.78%	-1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.71%	2.51%	+1.20%

Volatility

UBVLX vs. VRTVX - Volatility Comparison

The current volatility for Undiscovered Managers Behavioral Value Fund (UBVLX) is 4.31%, while Vanguard Russell 2000 Value Index Fund Institutional Shares (VRTVX) has a volatility of 4.90%. This indicates that UBVLX experiences smaller price fluctuations and is considered to be less risky than VRTVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UBVLX	VRTVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	4.90%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	10.77%	11.98%	-1.21%
Volatility (1Y) Calculated over the trailing 1-year period	16.69%	17.95%	-1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.33%	21.67%	-1.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.61%	23.71%	+0.90%

UBVLX vs. VRTVX - Expense Ratio Comparison

UBVLX has a 0.90% expense ratio, which is higher than VRTVX's 0.08% expense ratio.

Dividends

UBVLX vs. VRTVX - Dividend Comparison

UBVLX's dividend yield for the trailing twelve months is around 8.75%, more than VRTVX's 1.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UBVLX Undiscovered Managers Behavioral Value Fund	8.75%	9.41%	7.39%	8.35%	8.96%	3.44%	0.99%	4.98%	11.62%	4.67%	3.24%	3.80%
VRTVX Vanguard Russell 2000 Value Index Fund Institutional Shares	1.58%	1.49%	1.84%	2.08%	2.15%	1.56%	1.54%	1.87%	2.17%	1.74%	1.52%	2.16%

Frequently Asked Questions

Can I hold both UBVLX and VRTVX in my portfolio?

UBVLX and VRTVX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UBVLX or VRTVX?

VRTVX has higher volatility (4.90%) compared to UBVLX (4.31%). In terms of maximum drawdown, UBVLX dropped -67.24% vs VRTVX's -45.98%.

Which has better risk-adjusted returns?

VRTVX currently has the higher Sharpe Ratio (2.54 vs 0.99), 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.