- ISIN
- US56166Y2063
- CUSIP
- 56166Y206
- Issuer
- Nuance Investments
- Inception Date
- May 31, 2011
- Category
- Large Cap Value Equities
- Min. Investment
- $10,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
NCVLX Performance Chart
Nuance Concentrated Value Fund (NCVLX) is up 3.5% since the beginning of the year. NCVLX is currently trading at $13 per share. Investors who bought $1,000 worth of NCVLX shares 5 years ago would now be looking at an investment worth $1,183.
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Returns By Period
Nuance Concentrated Value Fund (NCVLX) has returned 3.45% so far this year and 10.59% over the past 12 months. Over the last ten years, NCVLX has returned 6.86% per year, falling short of the S&P 500 Index benchmark, which averaged 13.66% annually.
Nuance Concentrated Value Fund
- 1D
- -0.69%
- 1M
- 4.12%
- YTD
- 3.45%
- 6M
- 3.92%
- 1Y
- 10.59%
- 3Y*
- 5.16%
- 5Y*
- 3.42%
- 10Y*
- 6.86%
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
NCVLX Monthly Returns History
Based on dividend-adjusted daily data since May 31, 2011, NCVLX's average daily return is +0.04%, while the average monthly return is +0.74%. At this rate, an investment would double in approximately 7.8 years.
Historically, 62% of months were positive and 38% were negative. The best month was Mar 2016 with a return of +9.2%, while the worst month was Mar 2020 at -11.7%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 5 months.
On a daily basis, NCVLX closed higher 51% of trading days. The best single day was Mar 24, 2020 with a return of +7.6%, while the worst single day was Mar 16, 2020 at -11.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.77% | 5.76% | -9.61% | 0.79% | 2.20% | -0.69% | 3.45% | ||||||
| 2025 | 4.04% | -5.98% | -3.07% | -1.97% | 3.59% | 2.69% | 1.15% | 2.28% | -2.22% | -0.57% | 2.88% | 0.94% | 3.28% |
| 2024 | -3.99% | -0.58% | 4.68% | -0.48% | 1.77% | -2.82% | 7.41% | 3.07% | 3.88% | -6.25% | 3.98% | -3.83% | 6.02% |
| 2023 | 4.74% | -0.66% | 0.82% | 5.03% | -5.66% | 4.91% | 0.96% | -5.08% | -7.18% | -2.45% | 8.36% | 7.28% | 10.00% |
| 2022 | -0.86% | 1.31% | -0.29% | -2.95% | 1.48% | -5.76% | 1.09% | -4.15% | -7.46% | 8.49% | 6.55% | -1.42% | -5.02% |
| 2021 | -0.60% | 1.08% | 3.88% | 4.38% | 0.62% | -0.74% | 0.68% | 0.43% | -2.88% | 1.46% | -4.06% | 5.63% | 9.86% |
Benchmark Metrics
Nuance Concentrated Value Fund has an annualized alpha of -0.33%, beta of 0.72, and R2 of 0.69 versus S&P 500 Index. Calculated based on daily prices since June 02, 2011.
- This fund participated in 82.68% of S&P 500 Index downside but only 70.95% of its upside - more exposed to losses than it benefited from rallies.
- Alpha
- -0.33%
- Beta
- 0.72
- R²
- 0.69
- Upside Capture
- 70.95%
- Downside Capture
- 82.68%
Expense Ratio
NCVLX has a high expense ratio of 1.04%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
NCVLX ranks 10 for risk / return — in the bottom 10% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Nuance Concentrated Value Fund (NCVLX) and compare them to S&P 500 Index.
| NCVLX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.89 | 2.24 | -1.36 |
Sortino ratioReturn per unit of downside risk | 1.37 | 3.07 | -1.70 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.41 | -0.25 |
Calmar ratioReturn relative to maximum drawdown | 0.95 | 2.93 | -1.97 |
Martin ratioReturn relative to average drawdown | 2.36 | 13.52 | -11.16 |
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
Nuance Concentrated Value Fund provided a 1.69% dividend yield over the last twelve months, with an annual payout of $0.22 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.22 | $0.30 | $0.91 | $0.23 | $1.58 | $2.39 | $0.10 | $1.16 | $1.65 | $1.03 | $0.14 | $0.68 |
Dividend yield | 1.69% | 2.38% | 7.34% | 1.81% | 13.64% | 17.21% | 0.64% | 7.97% | 13.45% | 7.02% | 0.96% | 5.66% |
Monthly Dividends
The table displays the monthly dividend distributions for Nuance Concentrated 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 | $0.08 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.16 | $0.30 |
| 2024 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.71 | $0.91 |
| 2023 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.00 | $0.23 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.54 | $1.58 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $2.28 | $2.39 |
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 Nuance Concentrated 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 Nuance Concentrated Value Fund was 31.48%, occurring on Mar 23, 2020. Recovery took 179 trading sessions.
The current Nuance Concentrated Value Fund drawdown is 7.53%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -31.48%Mar 2020 | 2mo 2d | 8mo 16d | 10mo 18dJan 2020 - Dec 2020 |
2025 selloff2025 | -19.58%Apr 2025 | 6mo 9d | 9mo 6d | 1y 3moOct 2024 - Jan 2026 |
Bear market2022 | -18.92%Oct 2022 | 1y 1mo | 6mo 9d | 1y 7moSep 2021 - Apr 2023 |
2016 correction2016 | -17.16%Jan 2016 | 7mo | 3mo | 10moJun 2015 - Apr 2016 |
2023 correction2023 | -16.13%Oct 2023 | 3mo 2d | 6mo 13d | 9mo 15dJul 2023 - May 2024 |
Drawdown Indicators
| NCVLX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.48% | -56.78% | +25.30% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -9.10% | -2.44% |
Max Drawdown (3Y)Largest decline over 3 years | -19.58% | -18.90% | -0.68% |
Max Drawdown (5Y)Largest decline over 5 years | -19.58% | -25.43% | +5.85% |
Max Drawdown (10Y)Largest decline over 10 years | -31.48% | -33.92% | +2.44% |
Current DrawdownCurrent decline from peak | -7.53% | -0.74% | -6.79% |
Average DrawdownAverage peak-to-trough decline | -4.07% | -10.72% | +6.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.65% | 1.97% | +2.68% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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