PZISX Performance — Pzena Small Cap Value Fund, Institutional Class
Data updated: 2026-07-30
PZISX returned +14.55% year to date and +23.45% over one year to May 2026. Annualised returns are +13.69% over 3 years and +5.79% over 5 years. The fund trailed its US Small Blend category average: $100 invested three years ago grew to $147, against $160 for the category, and to $123 over one year, against $132. Volatility over the past three years was 23.90% a year. In the 12 months to May 2026 the fund took in a net $37.8M, and assets reached $93.72M.
PZISX Growth of $100
What $100 invested in Pzena Small Cap Value Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Small Blend category average over the same months.
| Period | PZISX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $123 | $132 |
| 3 years (Jun 2023 – May 2026) | $147 | $160 |
| 5 years (Jun 2021 – May 2026) | $132 | $135 |
| Since data start (Mar 2020 – May 2026) | $208 | $210 |
PZISX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +14.55% |
| 1 year | +23.45% |
| 3 years (annualised) | +13.69% |
| 5 years (annualised) | +5.79% |
PZISX Annual Returns
Calendar-year total returns of Pzena Small Cap Value Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +14.55% |
| 2025 | −4.61% |
| 2024 | +1.98% |
| 2023 | +26.05% |
| 2022 | −5.09% |
| 2021 | +28.44% |
| 2020 (Mar–Dec) | +21.43% |
PZISX 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 | +7.9% | +2.1% | −6.7% | +9.8% | +1.5% | — | — | — | — | — | — | — |
| 2025 | +1.8% | −7.8% | −5.6% | −7.6% | +8.1% | +2.4% | +1.5% | +11.7% | −2.8% | −6.4% | +2.6% | −0.6% |
| 2024 | −4.5% | +4.2% | +5.9% | −7.6% | +6.1% | −4.9% | +11.7% | −4.1% | −1.7% | −3.1% | +10.5% | −8.0% |
| 2023 | +12.2% | −1.7% | −7.1% | −4.2% | −2.7% | +11.9% | +8.0% | −3.2% | −3.4% | −7.1% | +11.4% | +12.6% |
| 2022 | −1.2% | −0.5% | −0.2% | −4.6% | +4.0% | −11.7% | +9.5% | −4.5% | −12.6% | +19.1% | +6.8% | −5.0% |
| 2021 | +1.0% | +13.2% | +5.7% | +2.4% | +4.4% | −4.7% | −2.3% | +3.2% | −1.2% | +2.8% | −3.2% | +5.2% |
| 2020 | — | — | −30.4% | +19.2% | +1.5% | +3.3% | +1.1% | +5.6% | −6.5% | +6.8% | +20.6% | +8.6% |
PZISX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 23.90%
- 3-year Sharpe ratio: 0.38 (vs 4.5% risk-free rate)
- Best month: +12.63% (Dec 2023)
- Worst month: −7.95% (Dec 2024)
PZISX Fund Flows
Monthly money in and out of Pzena Small Cap Value Fund, from SEC Form N-PORT.
- 12-month net flow: $37.8M
- 12-month gross sales (incl. reinvestments): $60.7M
- Sales ÷ redemptions: 2.65×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $1.2M | $625K | $527K |
| Apr 2026 | $2.4M | $4.7M | −$2.3M |
| Mar 2026 | $2.4M | $4.9M | −$2.5M |
| Feb 2026 | $7.4M | $785K | $6.6M |
| Jan 2026 | $5.0M | $766K | $4.3M |
| Dec 2025 | $4.0M | $1.6M | $2.4M |
| Nov 2025 | $19.6M | $552K | $19.0M |
| Oct 2025 | $1.6M | $1.5M | $87K |
| Sep 2025 | $14.8M | $1.0M | $13.8M |
| Aug 2025 | $884K | $2.5M | −$1.6M |
| Jul 2025 | $704K | $3.4M | −$2.7M |
| Jun 2025 | $890K | $637K | $253K |
PZISX Assets Under Management
Net assets of Pzena Small Cap Value Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $93.72M |
| 2026-02-28 | $94.87M |
| 2025-11-30 | $75.97M |
| 2025-08-31 | $46.54M |
| 2025-05-31 | $43.90M |
| 2025-02-28 | $60.55M |
| 2024-11-30 | $65.39M |
| 2024-08-31 | $59.43M |
| 2024-05-31 | $52.13M |
| 2024-02-29 | $49.82M |
| 2023-11-30 | $45.66M |
| 2023-08-31 | $43.45M |
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.