PPVIX Performance — SmallCap Value Fund II, Institutional Class
Data updated: 2026-09-25
PPVIX returned +16.98% year to date and +28.54% over one year to Jul 2026. Annualised returns are +11.55% over 3 years and +9.39% over 5 years. The fund trailed its US Small Value category average: $100 invested three years ago grew to $139, against $147 for the category, and to $129 over one year, against $131. Volatility over the past three years was 18.21% a year. In the 12 months to Jul 2026 the fund lost a net $38.9M, and assets reached $1.26B.
PPVIX Growth of $100
What $100 invested in SmallCap Value Fund II grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Small Value category average over the same months.
| Period | PPVIX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $129 | $131 |
| 3 years (Aug 2023 – Jul 2026) | $139 | $147 |
| 5 years (Aug 2021 – Jul 2026) | $157 | $154 |
| Since data start (Aug 2019 – Jul 2026) | $209 | $214 |
PPVIX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +16.98% |
| 1 year | +28.54% |
| 3 years (annualised) | +11.55% |
| 5 years (annualised) | +9.39% |
PPVIX Annual Returns
Calendar-year total returns of SmallCap Value Fund II, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +16.98% |
| 2025 | +8.16% |
| 2024 | +4.97% |
| 2023 | +20.01% |
| 2022 | −9.24% |
| 2021 | +32.30% |
| 2020 | +3.61% |
| 2019 (Aug–Dec) | +5.29% |
PPVIX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +6.2% | +2.4% | −4.3% | +8.0% | −1.2% | +4.9% | +0.5% | — | — | — | — | — |
| 2025 | +3.2% | −4.2% | −5.5% | −5.6% | +4.5% | +4.6% | +2.1% | +6.8% | −0.7% | −0.2% | +3.2% | +0.6% |
| 2024 | −3.9% | +2.9% | +4.7% | −6.2% | +4.5% | −1.7% | +9.4% | −2.3% | −0.5% | −2.2% | +10.1% | −8.0% |
| 2023 | +9.6% | −0.4% | −5.2% | −3.1% | −1.3% | +10.0% | +5.6% | −3.4% | −5.3% | −5.9% | +8.4% | +12.0% |
| 2022 | −3.7% | +1.8% | +0.2% | −6.7% | +3.5% | −9.0% | +9.2% | −3.7% | −9.7% | +12.3% | +4.5% | −5.7% |
| 2021 | +2.1% | +11.0% | +5.1% | +3.5% | +3.4% | −1.6% | −2.5% | +2.2% | −1.4% | +4.2% | −2.1% | +5.4% |
| 2020 | −4.7% | −10.7% | −24.2% | +12.8% | +4.1% | +1.7% | +1.8% | +5.2% | −4.4% | +3.1% | +18.0% | +7.9% |
| 2019 | — | — | — | — | — | — | — | −5.2% | +4.5% | +1.1% | +1.9% | +3.1% |
PPVIX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 18.21%
- 3-year Sharpe ratio: 0.39 (vs 4.5% risk-free rate)
- Best month: +11.98% (Dec 2023)
- Worst month: −8.02% (Dec 2024)
PPVIX Fund Flows
Monthly money in and out of SmallCap Value Fund II, from SEC Form N-PORT.
- 12-month net flow: −$38.9M
- 12-month gross sales (incl. reinvestments): $238.9M
- Sales ÷ redemptions: 0.86×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $9.0M | $24.4M | −$15.4M |
| Jun 2026 | $11.0M | $21.9M | −$10.9M |
| May 2026 | $10.1M | $17.2M | −$7.1M |
| Apr 2026 | $9.0M | $28.4M | −$19.5M |
| Mar 2026 | $10.7M | $18.6M | −$7.9M |
| Feb 2026 | $24.7M | $13.9M | $10.9M |
| Jan 2026 | $23.3M | $23.8M | −$519K |
| Dec 2025 | $107.6M | $20.9M | $86.7M |
| Nov 2025 | $6.0M | $13.6M | −$7.6M |
| Oct 2025 | $8.7M | $28.8M | −$20.1M |
| Sep 2025 | $7.6M | $17.3M | −$9.6M |
| Aug 2025 | $11.2M | $49.1M | −$37.9M |
PPVIX Assets Under Management
Net assets of SmallCap Value Fund II by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $1.26B |
| 2026-04-30 | $1.24B |
| 2026-01-31 | $1.19B |
| 2025-10-31 | $1.10B |
| 2025-07-31 | $1.10B |
| 2025-04-30 | $1.02B |
| 2025-01-31 | $1.17B |
| 2024-10-31 | $1.12B |
| 2024-07-31 | $1.61B |
| 2024-04-30 | $1.43B |
| 2024-01-31 | $1.38B |
| 2023-10-31 | $1.17B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.