- Issuer
- Scharf Investments
- Inception Date
- Aug 25, 2025
- Category
- Large Cap Blend Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
- Assets Under Management
- $759M
Share Price Chart
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Performance
KAT Performance Chart
Scharf ETF (KAT) is down 2.4% since the beginning of the year. KAT is currently trading at $54 per share.
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Returns By Period
Scharf ETF
- 1D
- -0.78%
- 1M
- -2.67%
- YTD
- -2.36%
- 6M
- -2.49%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
KAT Monthly Returns History
Based on dividend-adjusted daily data since Aug 25, 2025, KAT's average daily return is -0.01%, while the average monthly return is -0.08%.
Historically, 73% of months were positive and 27% were negative. The best month was Feb 2026 with a return of +4.2%, while the worst month was Mar 2026 at -7.6%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 1 months.
On a daily basis, KAT closed higher 56% of trading days. The best single day was Jan 5, 2026 with a return of +1.7%, while the worst single day was Oct 29, 2025 at -2.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.17% | 4.21% | -7.57% | 3.61% | 0.53% | -3.80% | -2.36% | ||||||
| 2025 | 0.06% | 3.12% | -3.47% | 0.60% | 0.64% | 0.85% |
Benchmark Metrics
Scharf ETF has an annualized alpha of -10.67%, beta of 0.54, and R2 of 0.43 versus S&P 500 Index. Calculated based on daily prices since August 25, 2025.
- This ETF participated in 90.97% of S&P 500 Index downside but only 20.40% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.54 may look defensive, but with R2 of 0.43 this ETF 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 ETF's risk.
- R2 of 0.43 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- -10.67%
- Beta
- 0.54
- R²
- 0.43
- Upside Capture
- 20.40%
- Downside Capture
- 90.97%
Expense Ratio
KAT has an expense ratio of 0.75%, placing it in the medium range.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Scharf ETF (KAT) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| KAT | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.37 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.78 | — |
| Martin ratioReturn relative to average drawdown | — | 12.44 | — |
Dividends
Dividend History
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 Scharf ETF. 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 Scharf ETF was 9.25%, occurring on Mar 27, 2026. The portfolio has not yet recovered.
The current Scharf ETF drawdown is 7.56%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 pullback2026 | -9.25%Mar 2026 | 24d | — | 3mo 22dMar 2026 - now |
2025 pullback2025 | -7.55%Nov 2025 | 1mo 14d | 3mo 6d | 4mo 20dOct 2025 - Feb 2026 |
2025 pullback2025 | -1.54%Sep 2025 | 0s | 10d | 10dSep 2025 - Sep 2025 |
2025 pullback2025 | -1.08%Sep 2025 | 2d | 5d | 7dSep 2025 - Sep 2025 |
2025 pullback2025 | -0.84%Sep 2025 | 5d | 7d | 12dAug 2025 - Sep 2025 |
Drawdown Indicators
| KAT | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.25% | -56.78% | +47.53% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -7.56% | -1.80% | -5.76% |
Average DrawdownAverage peak-to-trough decline | -3.33% | -10.71% | +7.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.03% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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