Ariel Appreciation Fund (CAAPX)
The investment seeks long-term capital appreciation. The fund invests in mid-capitalization undervalued companies that show strong potential for growth. It invests primarily in equity securities of U.S. companies that have market capitalizations within the range of the companies in the Russell Midcap Index, measured at the time of initial purchase. The fund’s strategy is rooted in the contrarian investment philosophy of the Adviser, which depends on three interrelated tenets: patience, focus and independent thinking.
Fund Info
| ISIN | US0403372065 |
|---|---|
| CUSIP | 040337206 |
| Issuer | Ariel Investments |
| Inception Date | Dec 1, 1989 |
| Category | Mid Cap Value Equities |
| Min. Investment | $1,000 |
| Asset Class | Equity |
Asset Class Size | Mid-Cap |
Asset Class Style | Value |
Expense Ratio
CAAPX has a high expense ratio of 1.12%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
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.
Returns By Period
Ariel Appreciation Fund had a return of -3.14% year-to-date (YTD) and 4.96% in the last 12 months. Over the past 10 years, Ariel Appreciation Fund had an annualized return of 6.15%, while the S&P 500 had an annualized return of 10.37%, indicating that Ariel Appreciation Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | -3.14% | 5.57% |
| 1 month | -6.92% | -4.16% |
| 6 months | 15.58% | 20.07% |
| 1 year | 4.96% | 20.82% |
| 5 years (annualized) | 5.48% | 11.56% |
| 10 years (annualized) | 6.15% | 10.37% |
Monthly Returns Heatmap
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -3.42% | 2.99% | 4.62% | |||||||||
| 2023 | -8.01% | 9.63% | 8.84% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of CAAPX is 15, indicating that it is in the bottom 15% of the market in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
Ariel Appreciation Fund(CAAPX)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Ariel Appreciation Fund (CAAPX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Ariel Appreciation Fund granted a 6.52% dividend yield in the last twelve months. The annual payout for that period amounted to $2.47 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $2.47 | $2.47 | $3.98 | $6.78 | $4.27 | $3.38 | $2.85 | $6.00 | $3.71 | $5.43 | $6.54 | $4.06 |
Dividend yield | 6.52% | 6.31% | 10.51% | 14.21% | 9.85% | 7.58% | 7.37% | 12.53% | 7.88% | 12.05% | 12.18% | 7.29% |
Monthly Dividends
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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.00 | $0.00 | $0.00 | |||||||||
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.15 | $0.32 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.73 | $0.25 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $6.57 | $0.21 |
| 2020 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.02 | $0.24 |
| 2019 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.96 | $0.42 |
| 2018 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.42 | $0.42 |
| 2017 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $5.61 | $0.39 |
| 2016 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.41 | $0.30 |
| 2015 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.93 | $0.50 |
| 2014 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $6.16 | $0.37 |
| 2013 | $3.64 | $0.42 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
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 9.39%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -61.92% | Jul 17, 2007 | 414 | Mar 9, 2009 | 444 | Dec 9, 2010 | 858 |
| -42.58% | Jan 21, 2020 | 44 | Mar 23, 2020 | 172 | Nov 24, 2020 | 216 |
| -34.56% | Jul 19, 1999 | 165 | Mar 7, 2000 | 252 | Mar 8, 2001 | 417 |
| -30.24% | Apr 11, 2002 | 230 | Mar 11, 2003 | 145 | Oct 7, 2003 | 375 |
| -29.27% | Jul 8, 2011 | 61 | Oct 3, 2011 | 303 | Dec 18, 2012 | 364 |
Volatility
Volatility Chart
The current Ariel Appreciation Fund volatility is 5.20%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.