- Issuer
- VELA Funds
- Inception Date
- Sep 29, 2020
- Category
- Foreign Large Cap Equities
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
VEITX Performance Chart
VELA International Fund (VEITX) is up 3.8% since the beginning of the year. VEITX is currently trading at $16 per share. Investors who bought $1,000 worth of VEITX shares 5 years ago would now be looking at an investment worth $1,467.
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Returns By Period
VELA International Fund (VEITX) has returned 3.81% so far this year and 17.58% over the past 12 months.
VELA International Fund
- 1D
- -0.06%
- 1M
- -1.04%
- YTD
- 3.81%
- 6M
- 3.61%
- 1Y
- 17.58%
- 3Y*
- 13.79%
- 5Y*
- 7.97%
- 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%
VEITX Monthly Returns History
Based on dividend-adjusted daily data since Oct 29, 2020, VEITX's average daily return is +0.05%, while the average monthly return is +1.11%. At this rate, an investment would double in approximately 5.2 years.
Historically, 59% of months were positive and 41% were negative. The best month was Nov 2020 with a return of +16.3%, while the worst month was Sep 2022 at -8.3%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 3 months.
On a daily basis, VEITX closed higher 52% of trading days. The best single day was Apr 9, 2025 with a return of +5.6%, while the worst single day was Apr 4, 2025 at -5.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.94% | 3.79% | -7.05% | 4.13% | 2.86% | -2.41% | 3.81% | ||||||
| 2025 | 2.40% | 3.18% | 2.20% | 3.73% | 3.88% | 2.27% | -2.41% | 7.14% | 2.74% | -1.88% | 1.73% | 2.67% | 31.00% |
| 2024 | -2.33% | 0.40% | 5.08% | -1.82% | 5.39% | -3.22% | 4.00% | 2.32% | 1.06% | -4.42% | -0.51% | -1.53% | 3.91% |
| 2023 | 8.71% | -2.02% | 1.40% | 2.12% | -4.47% | 5.10% | 3.50% | -3.69% | -2.95% | -3.53% | 6.98% | 4.85% | 15.92% |
| 2022 | 0.40% | -2.73% | -1.98% | -2.86% | 3.30% | -8.14% | 2.38% | -5.36% | -8.30% | 6.38% | 11.80% | -0.12% | -6.88% |
| 2021 | -1.55% | 5.59% | 2.07% | 1.70% | 5.18% | -1.67% | -1.31% | 0.00% | -3.51% | 2.67% | -5.67% | 4.28% | 7.33% |
Benchmark Metrics
VELA International Fund has an annualized alpha of 3.57%, beta of 0.61, and R2 of 0.50 versus S&P 500 Index. Calculated based on daily prices since October 29, 2020.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (67.27%) than losses (66.10%) - typical of diversified or defensive assets.
- Beta of 0.61 may look defensive, but with R2 of 0.50 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 0.50 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 3.57%
- Beta
- 0.61
- R²
- 0.50
- Upside Capture
- 67.27%
- Downside Capture
- 66.10%
Expense Ratio
VEITX has a high expense ratio of 1.20%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
VEITX ranks 23 for risk / return — below 23% 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.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for VELA International Fund (VEITX) 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.
| VEITX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.37 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 2.78 | -1.26 |
| Martin ratioReturn relative to average drawdown | 5.54 | 12.44 | -6.90 |
Dividends
Dividend History
VELA International Fund provided a 8.09% dividend yield over the last twelve months, with an annual payout of $1.31 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $1.31 | $1.25 | $0.47 | $0.29 | $0.19 | $0.08 |
Dividend yield | 8.09% | 7.97% | 3.63% | 2.28% | 1.65% | 0.65% |
Monthly Dividends
The table displays the monthly dividend distributions for VELA International 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 | $0.03 | $0.03 | $0.00 | $0.00 | $0.06 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.25 | $1.25 |
| 2024 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.43 | $0.47 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.29 | $0.29 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.19 | $0.19 |
| 2021 | $0.08 | $0.08 |
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 VELA International 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 VELA International Fund was 27.99%, occurring on Sep 26, 2022. Recovery took 366 trading sessions.
The current VELA International Fund drawdown is 3.07%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -27.99%Sep 2022 | 1y 3mo | 1y 5mo | 2y 9moJun 2021 - Mar 2024 |
2025 selloff2025 | -12.16%Apr 2025 | 19d | 17d | 1mo 6dMar 2025 - Apr 2025 |
2026 correction2026 | -11.04%Mar 2026 | 1mo 6d | — | 4mo 11dFeb 2026 - now |
2025 pullback2025 | -8.72%Jan 2025 | 3mo 18d | 1mo 1d | 4mo 19dSep 2024 - Feb 2025 |
2025 pullback2025 | -5.78%Nov 2025 | 1mo 27d | 15d | 2mo 12dSep 2025 - Dec 2025 |
Drawdown Indicators
| VEITX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.99% | -56.78% | +28.79% |
Max Drawdown (1Y)Largest decline over 1 year | -11.04% | -9.10% | -1.94% |
Max Drawdown (3Y)Largest decline over 3 years | -12.16% | -18.90% | +6.74% |
Max Drawdown (5Y)Largest decline over 5 years | -25.52% | -25.43% | -0.09% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -3.07% | -1.80% | -1.27% |
Average DrawdownAverage peak-to-trough decline | -5.75% | -10.71% | +4.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 2.03% | +0.99% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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