VRTVX vs. PFSVX

Last updated Jun 3, 2026

VRTVX (Vanguard Russell 2000 Value Index Fund Institutional Shares) and PFSVX (iMGP SBH Focused Small Value Fund) are both Small Cap Value Equities funds. Over the past 5 years, VRTVX returned 6.53%/yr vs 5.37%/yr for PFSVX. Their correlation of 0.94 suggests significant overlap in exposure. VRTVX charges 0.08%/yr vs 1.15%/yr for PFSVX.

Performance

VRTVX vs. PFSVX - Performance Comparison

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

Returns By Period

In the year-to-date period, VRTVX achieves a 17.82% return, which is significantly higher than PFSVX's 6.42% return.

VRTVX

• 1D: -0.41%
• 1M: 2.22%
• YTD: 17.82%
• 6M: 19.19%
• 1Y: 44.03%
• 3Y*: 17.95%
• 5Y*: 6.53%
• 10Y*: 10.37%

PFSVX

• 1D: 0.00%
• 1M: 0.88%
• YTD: 6.42%
• 6M: 6.76%
• 1Y: 20.41%
• 3Y*: 13.10%
• 5Y*: 5.37%
• 10Y*: —

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

VRTVX vs. PFSVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VRTVX Vanguard Russell 2000 Value Index Fund Institutional Shares	17.82%	12.21%	8.07%	14.71%	-14.52%	28.06%	34.05%
PFSVX iMGP SBH Focused Small Value Fund	6.42%	-0.02%	14.04%	24.90%	-13.39%	19.74%	27.10%

Correlation

The correlation between VRTVX and PFSVX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Aug 3, 2020	0.94

The correlation between VRTVX and PFSVX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

VRTVX vs. PFSVX — Risk / Return Rank

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

VRTVX

VRTVX Risk / Return Rank: 75
VRTVX Sharpe Ratio Rank: 70
VRTVX Sortino Ratio Rank: 68
VRTVX Omega Ratio Rank: 56
VRTVX Calmar Ratio Rank: 92
VRTVX Martin Ratio Rank: 88

PFSVX

PFSVX Risk / Return Rank: 14
PFSVX Sharpe Ratio Rank: 13
PFSVX Sortino Ratio Rank: 15
PFSVX Omega Ratio Rank: 13
PFSVX Calmar Ratio Rank: 14
PFSVX Martin Ratio Rank: 15

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.

VRTVX vs. PFSVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 2000 Value Index Fund Institutional Shares (VRTVX) and iMGP SBH Focused Small Value Fund (PFSVX). 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.

	VRTVX	PFSVX	Difference
Sharpe ratio Return per unit of total volatility	2.45	1.02	+1.44
Sortino ratio Return per unit of downside risk	3.44	1.62	+1.82
Omega ratio Gain probability vs. loss probability	1.42	1.18	+0.23
Calmar ratio Return relative to maximum drawdown	5.05	1.35	+3.70
Martin ratio Return relative to average drawdown	17.17	4.29	+12.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VRTVX vs. PFSVX - Sharpe Ratio Comparison

The current VRTVX Sharpe Ratio is 2.45, which is higher than the PFSVX Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of VRTVX and PFSVX, 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

	VRTVX	PFSVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.45	1.02	+1.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.24	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.56	-0.09

Drawdowns

VRTVX vs. PFSVX - Drawdown Comparison

The maximum VRTVX drawdown since its inception was -45.98%, which is greater than PFSVX's maximum drawdown of -30.18%. Use the drawdown chart below to compare losses from any high point for VRTVX and PFSVX.

Drawdown Indicators

	VRTVX	PFSVX	Difference
Max Drawdown Largest peak-to-trough decline	-45.98%	-30.18%	-15.80%
Max Drawdown (1Y) Largest decline over 1 year	-8.54%	-14.16%	+5.62%
Max Drawdown (3Y) Largest decline over 3 years	-26.85%	-30.18%	+3.33%
Max Drawdown (5Y) Largest decline over 5 years	-26.85%	-30.18%	+3.33%
Max Drawdown (10Y) Largest decline over 10 years	-45.98%	—	—
Current Drawdown Current decline from peak	-1.19%	-2.92%	+1.73%
Average Drawdown Average peak-to-trough decline	-7.78%	-9.14%	+1.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	4.45%	-1.94%

Volatility

VRTVX vs. PFSVX - Volatility Comparison

Vanguard Russell 2000 Value Index Fund Institutional Shares (VRTVX) and iMGP SBH Focused Small Value Fund (PFSVX) have volatilities of 4.83% and 4.65%, 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

	VRTVX	PFSVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	4.65%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	11.96%	13.77%	-1.81%
Volatility (1Y) Calculated over the trailing 1-year period	17.96%	19.66%	-1.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.67%	22.52%	-0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.71%	22.55%	+1.16%

VRTVX vs. PFSVX - Expense Ratio Comparison

VRTVX has a 0.08% expense ratio, which is lower than PFSVX's 1.15% expense ratio.

Dividends

VRTVX vs. PFSVX - Dividend Comparison

VRTVX's dividend yield for the trailing twelve months is around 1.60%, less than PFSVX's 4.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PFSVX iMGP SBH Focused Small Value Fund	4.00%	4.26%	17.23%	7.81%	0.00%	2.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VRTVX Vanguard Russell 2000 Value Index Fund Institutional Shares	1.60%	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 VRTVX and PFSVX in my portfolio?

With a correlation of 0.91, VRTVX and PFSVX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VRTVX or PFSVX?

VRTVX has higher volatility (4.83%) compared to PFSVX (4.65%). In terms of maximum drawdown, VRTVX dropped -45.98% vs PFSVX's -30.18%.

Which has better risk-adjusted returns?

VRTVX currently has the higher Sharpe Ratio (2.45 vs 1.02), 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.