VIISX vs. HLMSX
VIISX (Virtus KAR International Small-Mid Cap Fund) and HLMSX (Harding Loevner International Small Companies Portfolio) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, VIISX returned 7.80%/yr vs 6.10%/yr for HLMSX. Their 0.80 correlation means they have sometimes moved together and sometimes differently. VIISX charges 1.19%/yr vs 1.37%/yr for HLMSX.
Performance
VIISX vs. HLMSX - Performance Comparison
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Returns By Period
In the year-to-date period, VIISX achieves a 2.87% return, which is significantly lower than HLMSX's 7.71% return. Over the past 10 years, VIISX has outperformed HLMSX with an annualized return of 7.80%, while HLMSX has yielded a comparatively lower 6.10% annualized return.
VIISX
- 1D
- -0.75%
- 1M
- 0.62%
- 6M
- -1.26%
- YTD
- 2.87%
- 1Y
- -0.49%
- 3Y*
- 8.52%
- 5Y*
- -1.10%
- 10Y*
- 7.80%
- ALL TIME*
- 8.28%
HLMSX
- 1D
- -0.66%
- 1M
- 0.88%
- 6M
- 5.11%
- YTD
- 7.71%
- 1Y
- 6.78%
- 3Y*
- 5.55%
- 5Y*
- -0.29%
- 10Y*
- 6.10%
- ALL TIME*
- 5.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VIISX vs. HLMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIISX Virtus KAR International Small-Mid Cap Fund | 2.87% | 14.30% | 4.06% | 22.36% | -34.42% | 5.84% | 24.38% | 27.62% | -6.81% | 28.48% |
HLMSX Harding Loevner International Small Companies Portfolio | 7.71% | 14.87% | -6.92% | 11.78% | -24.50% | 12.82% | 18.51% | 29.45% | -17.65% | 34.42% |
Correlation
The correlation between VIISX and HLMSX is 0.78, 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. | 0.78 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013 | 0.80 |
The correlation between VIISX and HLMSX has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.
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Return for Risk
VIISX vs. HLMSX — Risk / Return Rank
VIISX
HLMSX
VIISX vs. HLMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus KAR International Small-Mid Cap Fund (VIISX) and Harding Loevner International Small Companies Portfolio (HLMSX). 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.
| VIISX | HLMSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.10 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 0.65 | -0.71 |
| Martin ratioReturn relative to average drawdown | -0.16 | 1.65 | -1.81 |
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Drawdowns
VIISX vs. HLMSX - Drawdown Comparison
The maximum VIISX drawdown since its inception was -50.31%, smaller than the maximum HLMSX drawdown of -60.77%. Use the drawdown chart below to compare losses from any high point for VIISX and HLMSX.
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Drawdown Indicators
| VIISX | HLMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.31% | -60.77% | +10.46% |
Max Drawdown (1Y)Largest decline over 1 year | -13.51% | -10.59% | -2.92% |
Max Drawdown (3Y)Largest decline over 3 years | -14.94% | -16.57% | +1.63% |
Max Drawdown (5Y)Largest decline over 5 years | -50.31% | -38.22% | -12.09% |
Max Drawdown (10Y)Largest decline over 10 years | -50.31% | -38.22% | -12.09% |
Current DrawdownCurrent decline from peak | -9.43% | -8.06% | -1.37% |
Average DrawdownAverage peak-to-trough decline | -11.25% | -13.19% | +1.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.58% | 4.16% | +1.42% |
Volatility
VIISX vs. HLMSX - Volatility Comparison
The current volatility for Virtus KAR International Small-Mid Cap Fund (VIISX) is 3.82%, while Harding Loevner International Small Companies Portfolio (HLMSX) has a volatility of 4.08%. This indicates that VIISX experiences smaller price fluctuations and is considered to be less risky than HLMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIISX | HLMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.82% | 4.08% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 10.87% | 10.56% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.07% | 12.62% | +0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.28% | 15.14% | +1.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.38% | 14.82% | +0.56% |
VIISX vs. HLMSX - Expense Ratio Comparison
VIISX has a 1.19% expense ratio, which is lower than HLMSX's 1.37% expense ratio.
Dividends
VIISX vs. HLMSX - Dividend Comparison
VIISX's dividend yield for the trailing twelve months is around 3.61%, less than HLMSX's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HLMSX Harding Loevner International Small Companies Portfolio | 3.75% | 4.04% | 1.17% | 1.00% | 1.83% | 2.82% | 0.03% | 0.52% | 7.56% | 1.13% | 4.37% | 1.54% |
VIISX Virtus KAR International Small-Mid Cap Fund | 3.61% | 3.72% | 1.94% | 0.00% | 0.00% | 8.43% | 1.16% | 1.98% | 1.42% | 1.82% | 2.75% | 3.43% |
Frequently Asked Questions
VIISX and HLMSX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HLMSX has higher volatility (4.08%) compared to VIISX (3.82%). In terms of maximum drawdown, VIISX dropped -50.31% vs HLMSX's -60.77%.
HLMSX currently has the higher Sharpe Ratio (0.55 vs -0.07), 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.
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