UBVSX vs. HRTVX

Last updated Jun 5, 2026

UBVSX (JPMorgan Undiscovered Managers Behavioral Value Fund Class I) and HRTVX (Heartland Value Fund) are both Small Cap Value Equities funds. Over the past 10 years, UBVSX returned 9.79%/yr vs 11.76%/yr for HRTVX. Their correlation of 0.90 suggests significant overlap in exposure. UBVSX charges 0.99%/yr vs 1.04%/yr for HRTVX.

Performance

UBVSX vs. HRTVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Undiscovered Managers Behavioral Value Fund Class I (UBVSX) and Heartland Value Fund (HRTVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UBVSX achieves a 6.41% return, which is significantly lower than HRTVX's 18.62% return. Over the past 10 years, UBVSX has underperformed HRTVX with an annualized return of 9.79%, while HRTVX has yielded a comparatively higher 11.76% annualized return.

UBVSX

• 1D: -1.00%
• 1M: -0.01%
• YTD: 6.41%
• 6M: 7.81%
• 1Y: 14.32%
• 3Y*: 12.37%
• 5Y*: 6.96%
• 10Y*: 9.79%

HRTVX

• 1D: -1.21%
• 1M: 0.53%
• YTD: 18.62%
• 6M: 20.08%
• 1Y: 40.34%
• 3Y*: 21.71%
• 5Y*: 11.09%
• 10Y*: 11.76%

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

UBVSX vs. HRTVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UBVSX JPMorgan Undiscovered Managers Behavioral Value Fund Class I	6.41%	1.70%	13.03%	14.59%	-1.26%	34.05%	3.35%	23.11%	-15.37%	13.26%
HRTVX Heartland Value Fund	18.62%	15.94%	15.76%	17.15%	-10.04%	21.86%	13.12%	17.93%	-12.10%	8.45%

Correlation

The correlation between UBVSX and HRTVX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.90

The correlation between UBVSX and HRTVX has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.

Return for Risk

UBVSX vs. HRTVX — Risk / Return Rank

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

UBVSX

UBVSX Risk / Return Rank: 13
UBVSX Sharpe Ratio Rank: 11
UBVSX Sortino Ratio Rank: 12
UBVSX Omega Ratio Rank: 11
UBVSX Calmar Ratio Rank: 16
UBVSX Martin Ratio Rank: 13

HRTVX

HRTVX Risk / Return Rank: 71
HRTVX Sharpe Ratio Rank: 66
HRTVX Sortino Ratio Rank: 68
HRTVX Omega Ratio Rank: 56
HRTVX Calmar Ratio Rank: 87
HRTVX Martin Ratio Rank: 79

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.

UBVSX vs. HRTVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Undiscovered Managers Behavioral Value Fund Class I (UBVSX) and Heartland Value Fund (HRTVX). 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.

	UBVSX	HRTVX	Difference
Sharpe ratio: Return per unit of total volatility	0.82	2.37	-1.55
Sortino ratio: Return per unit of downside risk	1.34	3.41	-2.06
Omega ratio: Gain probability vs. loss probability	1.15	1.41	-0.26
Calmar ratio: Return relative to maximum drawdown	1.31	4.19	-2.88
Martin ratio: Return relative to average drawdown	3.64	14.45	-10.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UBVSX vs. HRTVX - Sharpe Ratio Comparison

The current UBVSX Sharpe Ratio is 0.82, which is lower than the HRTVX Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of UBVSX and HRTVX, 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

	UBVSX	HRTVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.82	2.37	-1.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.57	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.56	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.59	-0.19

Drawdowns

UBVSX vs. HRTVX - Drawdown Comparison

The maximum UBVSX drawdown since its inception was -52.19%, smaller than the maximum HRTVX drawdown of -61.68%. Use the drawdown chart below to compare losses from any high point for UBVSX and HRTVX.

Drawdown Indicators

	UBVSX	HRTVX	Difference
Max Drawdown Largest peak-to-trough decline	-52.19%	-61.68%	+9.49%
Max Drawdown (1Y) Largest decline over 1 year	-10.36%	-9.50%	-0.86%
Max Drawdown (3Y) Largest decline over 3 years	-21.48%	-23.17%	+1.69%
Max Drawdown (5Y) Largest decline over 5 years	-21.48%	-23.17%	+1.69%
Max Drawdown (10Y) Largest decline over 10 years	-52.19%	-46.31%	-5.88%
Current Drawdown Current decline from peak	-3.08%	-1.33%	-1.75%
Average Drawdown Average peak-to-trough decline	-6.28%	-9.04%	+2.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.73%	2.75%	+0.98%

Volatility

UBVSX vs. HRTVX - Volatility Comparison

JPMorgan Undiscovered Managers Behavioral Value Fund Class I (UBVSX) and Heartland Value Fund (HRTVX) have volatilities of 4.28% and 4.43%, 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

	UBVSX	HRTVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	4.43%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	10.81%	11.74%	-0.93%
Volatility (1Y) Calculated over the trailing 1-year period	16.71%	16.88%	-0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.34%	19.50%	+0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.61%	21.04%	+3.57%

UBVSX vs. HRTVX - Expense Ratio Comparison

UBVSX has a 0.99% expense ratio, which is lower than HRTVX's 1.04% expense ratio.

Dividends

UBVSX vs. HRTVX - Dividend Comparison

UBVSX's dividend yield for the trailing twelve months is around 8.79%, more than HRTVX's 7.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HRTVX Heartland Value Fund	7.83%	9.29%	8.91%	5.65%	3.01%	13.50%	0.76%	3.12%	7.26%	6.43%	3.56%	8.25%
UBVSX JPMorgan Undiscovered Managers Behavioral Value Fund Class I	8.79%	9.35%	7.36%	8.30%	8.89%	3.34%	0.90%	4.85%	11.46%	4.53%	3.11%	3.69%

Frequently Asked Questions

Can I hold both UBVSX and HRTVX in my portfolio?

UBVSX and HRTVX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UBVSX or HRTVX?

HRTVX has higher volatility (4.43%) compared to UBVSX (4.28%). In terms of maximum drawdown, UBVSX dropped -52.19% vs HRTVX's -61.68%.

Which has better risk-adjusted returns?

HRTVX currently has the higher Sharpe Ratio (2.37 vs 0.82), 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.