Hotchkis & Wiley SMID Cap Diversified Value Fund (HWSM) Performance
HWSM total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +16.6% since Dec 31, 2025
- 1 year
- +19.5% total return
- Since first price
- +30.0% since 2025
HWSM trailing returns vs SPY, QQQ, AGG
| Period | HWSM total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +4.5% | +4.5% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.2% | +2.2% | +3.2% | +1.9% | −0.4% |
| 6 months | +10.1% | +10.1% | +7.8% | +8.4% | −1.5% |
| YTD | +16.6% | +16.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +19.5% | +17.9% | +14.4% | +15.9% | −1.1% |
| Since inceptionMar 31, 2025 | +30.0% | +28.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: HWSM vs SPY
From Mar 31, 2025: HWSM grew to $13,002, SPY to $13,811.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
HWSM returns by calendar year
2026 is year to date.
HWSM annual returns table
| Year | HWSM | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +16.6% | −10.2% | +12.3% | +15.1% | −1.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
HWSM largest drawdowns
Now 2.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Mar 31, 2025 | −14.7% | Apr 8, 2025 | May 12, 2025 | 8 days | 42 days |
| Feb 20, 2026 | −10.2% | Mar 20, 2026 | May 26, 2026 | 28 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
HWSM risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | +13.9% |
| Volatility (annualized) | 13.4% |
| Sharpe ratio | 0.75 |
| Sortino ratio | 1.10 |
| Best month | +6.2% |
| Worst month | −6.6% |
| Best 12 months | +27.7% |
| Worst 12 months | +11.5% |
| Positive months | 72% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
HWSM rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 8 | +11.5% | +22.5% | +27.7% | 100% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
HWSM performance overview
Hotchkis & Wiley SMID Cap Diversified Value Fund (HWSM) returned +19.5% over the past year, with distributions reinvested. Since its first recorded price on Mar 31, 2025 it has returned +30.0%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −14.7%, from Mar 31, 2025 to Apr 8, 2025, and it took 34 days to get back to the old high. Volatility has been 13.4% a year.
Related: HWSM chart, HWSM holdings, HWSM dividends, HWSM valuation. See the HWSM overview for the latest quote and fund facts.
HWSM performance FAQ
What is the HWSM return over the past year?
HWSM returned +19.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 17.9%.
How much would $10,000 invested in HWSM be worth?
$10,000 invested in HWSM at its first recorded close on March 31, 2025 would be worth about $13,002 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of HWSM?
The largest peak-to-trough decline was −14.7% between March 31, 2025 and April 8, 2025. It recovered to the old high on May 12, 2025, 34 days after the bottom.
How volatile is HWSM?
Over the past history HWSM had an annualized volatility of 13.4% and a Sharpe ratio of 0.75 (excess return over 1–3 month T-bills per unit of risk).