Acuitas US Microcap Fund (AFMCX)
The fund normally invests at least 80% of its net assets in the equity securities of microcap companies that (i) are headquartered in the U.S., or (ii) generate at least 50% of their revenue from activity in the U.S. It will pursue its investment objective using a "multi-manager" process, allocating assets among a carefully chosen group of asset managers (the "Subadvisers"). The adviser will select the fund's sub-advisers using its manager research and selection process which seeks to identify investment managers that are likely to achieve out performance over a long time horizon.
Fund Info
US34984Y8075
34984Y807
Jul 18, 2014
$100,000
Small-Cap
Blend
Expense Ratio
AFMCX has a high expense ratio of 1.50%, indicating above-average management fees.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
Acuitas US Microcap Fund (AFMCX) returned -10.26% year-to-date (YTD) and -3.30% over the past 12 months. Over the past 10 years, AFMCX returned 6.86% annually, underperforming the S&P 500 benchmark at 10.84%.
AFMCX
-10.26%
7.05%
-15.79%
-3.30%
3.44%
12.39%
6.86%
^GSPC (Benchmark)
0.52%
6.32%
-1.44%
12.25%
12.45%
14.20%
10.84%
Monthly Returns
The table below presents the monthly returns of AFMCX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 1.28% | -7.45% | -9.27% | -2.60% | 8.34% | -10.26% | |||||||
| 2024 | -3.52% | 5.67% | 3.97% | -7.42% | 3.82% | -3.01% | 10.08% | -2.20% | -0.99% | -3.06% | 13.72% | -6.71% | 8.32% |
| 2023 | 12.05% | -2.51% | -5.07% | -3.56% | 0.70% | 8.03% | 4.77% | -3.93% | -4.66% | -6.57% | 7.03% | 12.47% | 17.41% |
| 2022 | -7.89% | 0.07% | -0.65% | -11.32% | 1.81% | -6.71% | 10.84% | -0.55% | -10.31% | 9.65% | 1.12% | -4.32% | -19.11% |
| 2021 | 7.96% | 14.07% | 1.42% | 2.48% | 2.05% | 2.01% | -2.63% | 1.29% | -3.81% | 3.27% | -4.27% | 3.37% | 29.19% |
| 2020 | -4.99% | -7.83% | -28.08% | 15.85% | 3.98% | 4.78% | 2.97% | 5.99% | -2.30% | 0.96% | 21.53% | 9.69% | 14.06% |
| 2019 | 9.61% | 4.44% | -1.16% | 1.95% | -8.24% | 4.91% | 0.30% | -4.56% | 2.08% | 4.07% | 4.40% | 3.38% | 21.89% |
| 2018 | 1.96% | -4.37% | 1.47% | 1.15% | 6.04% | 0.93% | 0.42% | 5.20% | -2.47% | -9.73% | -0.99% | -12.07% | -13.26% |
| 2017 | -3.06% | -1.00% | 2.35% | 1.96% | -2.33% | 3.37% | -0.24% | 0.24% | 7.40% | 1.41% | 1.32% | -1.13% | 10.33% |
| 2016 | -7.95% | 0.21% | 4.20% | 2.52% | 1.18% | 0.88% | 5.59% | 1.00% | 1.63% | -3.47% | 11.14% | 3.94% | 21.56% |
| 2015 | -4.58% | 5.81% | 4.07% | -2.18% | 1.95% | 2.74% | -1.77% | -3.98% | -2.92% | 5.43% | 2.66% | -1.33% | 5.27% |
| 2014 | -3.60% | 4.25% | -5.27% | 6.51% | -0.59% | 3.87% | 4.70% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of AFMCX is 6, meaning it’s performing worse than 94% of other mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Acuitas US Microcap Fund (AFMCX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
Acuitas US Microcap Fund provided a 3.54% dividend yield over the last twelve months, with an annual payout of $0.45 per share.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.45 | $0.45 | $0.00 | $0.73 | $1.25 | $0.00 | $0.01 | $2.57 | $0.47 | $0.11 | $0.68 |
Dividend yield | 3.54% | 3.18% | 0.00% | 6.40% | 8.34% | 0.00% | 0.10% | 28.38% | 3.58% | 0.92% | 6.58% |
Monthly Dividends
The table displays the monthly dividend distributions for Acuitas US Microcap Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.45 | $0.45 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.73 | $0.73 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.25 | $1.25 |
| 2020 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2019 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 |
| 2018 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.57 | $2.57 |
| 2017 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.47 | $0.47 |
| 2016 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.11 | $0.11 |
| 2015 | $0.68 | $0.68 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Acuitas US Microcap Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Acuitas US Microcap Fund was 51.84%, occurring on Mar 18, 2020. Recovery took 182 trading sessions.
The current Acuitas US Microcap Fund drawdown is 16.60%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -51.84% | Sep 4, 2018 | 387 | Mar 18, 2020 | 182 | Dec 4, 2020 | 569 |
| -31.09% | Dec 3, 2024 | 86 | Apr 8, 2025 | — | — | — |
| -31.02% | Nov 8, 2021 | 153 | Jun 16, 2022 | 601 | Nov 6, 2024 | 754 |
| -17.72% | Jun 24, 2015 | 161 | Feb 11, 2016 | 103 | Jul 11, 2016 | 264 |
| -9.4% | Sep 3, 2014 | 28 | Oct 10, 2014 | 15 | Oct 31, 2014 | 43 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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