Ariel Appreciation Fund (CAAPX)

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The chart shows the growth of an initial investment of $10,000 in Ariel Appreciation Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Ariel Appreciation Fund (CAAPX) has returned -1.97% so far this year and 16.97% over the past 12 months. Over the last ten years, CAAPX has returned 7.58% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Nov 30, 1989, CAAPX's average daily return is +0.04%, while the average monthly return is +0.92%. At this rate, your investment would double in approximately 6.3 years.

Historically, 62% of months were positive and 38% were negative. The best month was Apr 2009 with a return of +24.5%, while the worst month was Oct 2008 at -25.0%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.

On a daily basis, CAAPX closed higher 52% of trading days. The best single day was Nov 18, 2021 with a return of +13.6%, while the worst single day was Nov 19, 2021 at -13.7%.

Ariel Appreciation Fund has an annualized alpha of 2.14%, beta of 0.95, and R² of 0.75 versus S&P 500 Index. Calculated based on daily prices since December 01, 1989.

• This fund captured 107.51% of S&P 500 Index gains and 100.89% of its losses — amplifying both gains and losses, but participating more in upside than downside.
• This fund generated an annualized alpha of 2.14% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
• With beta of 0.95 and R² of 0.75, this fund moves broadly in line with S&P 500 Index — much of its variation is explained by market exposure rather than independent behavior.

CAAPX has a high expense ratio of 1.12%, indicating above-average management fees.

CAAPX ranks 29 for risk / return — below 29% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

The table below present risk-adjusted performance metrics for Ariel Appreciation Fund (CAAPX) and compare them to a chosen benchmark (S&P 500 Index).

Ariel Appreciation Fund provided a 13.12% dividend yield over the last twelve months, with an annual payout of $4.96 per share.

The table displays the monthly dividend distributions for Ariel Appreciation Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Ariel Appreciation 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 Ariel Appreciation Fund was 61.92%, occurring on Mar 9, 2009. Recovery took 444 trading sessions.

The current Ariel Appreciation Fund drawdown is 11.66%.

The chart below shows the rolling one-month volatility.