- ISIN
- US00761L1026
- CUSIP
- 00761L102
- Issuer
- Aegis
- Inception Date
- May 15, 1998
- Category
- Small Cap Value Equities
- Min. Investment
- $10,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
AVALX Performance Chart
Aegis Value Fund (AVALX) is up 21.6% since the beginning of the year. AVALX is currently trading at $71 per share. Investors who bought $1,000 worth of AVALX shares 5 years ago would now be looking at an investment worth $2,662.
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Returns By Period
Aegis Value Fund (AVALX) has returned 21.61% so far this year and 58.07% over the past 12 months.
Aegis Value Fund
- 1D
- 0.81%
- 1M
- 0.45%
- YTD
- 21.61%
- 6M
- 23.48%
- 1Y
- 58.07%
- 3Y*
- 34.11%
- 5Y*
- 21.63%
- 10Y*
- 20.23%
Benchmark (S&P 500 Index)
- 1D
- -2.64%
- 1M
- 0.25%
- YTD
- 7.86%
- 6M
- 7.47%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AVALX Monthly Returns History
Based on dividend-adjusted daily data since May 15, 1998, AVALX's average daily return is +0.05%, while the average monthly return is +1.14%. At this rate, an investment would double in approximately 5.1 years.
Historically, 60% of months were positive and 40% were negative. The best month was Apr 2009 with a return of +31.7%, while the worst month was Oct 2008 at -32.0%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 7 months.
On a daily basis, AVALX closed higher 52% of trading days. The best single day was Mar 24, 2020 with a return of +7.9%, while the worst single day was Dec 20, 1999 at -17.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 9.19% | 9.32% | -2.56% | 3.80% | -0.79% | 1.53% | 21.61% | ||||||
| 2025 | 2.79% | 0.90% | 7.66% | 0.65% | 10.77% | 2.51% | 1.27% | 9.67% | 7.75% | 0.27% | 5.70% | 3.22% | 67.06% |
| 2024 | -4.98% | -1.55% | 8.71% | 1.53% | 7.51% | -7.14% | 6.04% | 2.95% | 1.94% | 0.72% | 0.64% | -6.86% | 8.29% |
| 2023 | 11.04% | -3.01% | 0.81% | -1.01% | -7.92% | 6.80% | 4.85% | -3.84% | 0.79% | -1.89% | 7.15% | 0.17% | 13.11% |
| 2022 | 2.17% | 5.34% | 9.68% | -0.82% | 0.18% | -15.03% | 11.05% | -5.64% | -11.86% | 9.00% | 13.52% | -2.96% | 10.50% |
| 2021 | 0.43% | 10.12% | 4.04% | 11.68% | 12.46% | -6.77% | -2.79% | -0.91% | -0.70% | 5.49% | -5.14% | 6.74% | 37.67% |
Benchmark Metrics
Aegis Value Fund has an annualized alpha of 39.19%, beta of 0.60, and R2 of 0.18 versus S&P 500 Index. Calculated based on daily prices since May 18, 1998.
- This fund captured 127.83% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -211.62%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.60 may look defensive, but with R2 of 0.18 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.18 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 39.19%
- Beta
- 0.60
- R²
- 0.18
- Upside Capture
- 127.83%
- Downside Capture
- -211.62%
Expense Ratio
AVALX has a high expense ratio of 1.50%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
AVALX ranks 94 for risk / return — in the top 94% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Aegis Value Fund (AVALX) and compare them to S&P 500 Index.
| AVALX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.61 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 7.13 | — | — |
| Martin ratioReturn relative to average drawdown | 25.13 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Aegis Value Fund provided a 1.92% dividend yield over the last twelve months, with an annual payout of $1.37 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.37 | $1.37 | $2.54 | $0.79 | $0.05 | $0.00 | $1.39 | $0.45 | $0.95 | $0.00 | $0.24 | $0.00 |
Dividend yield | 1.92% | 2.34% | 7.07% | 2.23% | 0.16% | 0.00% | 6.62% | 2.36% | 6.18% | 0.00% | 1.45% | 0.04% |
Monthly Dividends
The table displays the monthly dividend distributions for Aegis Value 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.37 | $1.37 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.54 | $2.54 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.79 | $0.79 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.05 | $0.05 |
| 2021 | $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 |
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 Aegis Value 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 Aegis Value Fund was 73.72%, occurring on Mar 9, 2009. Recovery took 484 trading sessions.
The current Aegis Value Fund drawdown is 0.89%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -73.72%Mar 2009 | 1y 8mo | 1y 11mo | 3y 7moJul 2007 - Feb 2011 |
2016 bear market2016 | -53.43%Jan 2016 | 1y 6mo | 1y 10mo | 3y 4moJul 2014 - Nov 2017 |
COVID crash2020 | -48.34%Mar 2020 | 1y 9mo | 4mo 20d | 2y 2moMay 2018 - Aug 2020 |
Bear market2022 | -32.00%Sep 2022 | 5mo 8d | 1y 3mo | 1y 8moApr 2022 - Dec 2023 |
1999 bear market1999 | -27.82%Dec 1999 | 5mo 12d | 1y 4mo | 1y 10moJul 1999 - May 2001 |
Drawdown Indicators
| AVALX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.72% | -9.10% | -64.62% |
Max Drawdown (1Y)Largest decline over 1 year | -8.32% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -13.59% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -32.00% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -48.34% | — | — |
Current DrawdownCurrent decline from peak | -0.89% | -2.97% | +2.08% |
Average DrawdownAverage peak-to-trough decline | -10.95% | -1.13% | -9.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.36% | — | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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