- Issuer
- VELA Funds
- Inception Date
- Sep 29, 2020
- Category
- Small Cap Value Equities
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
VESMX Performance Chart
VELA Small Cap Fund (VESMX) is up 9.6% since the beginning of the year. VESMX is currently trading at $22 per share. Investors who bought $1,000 worth of VESMX shares 5 years ago would now be looking at an investment worth $1,490.
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Compare this symbol against anything
Returns By Period
VELA Small Cap Fund (VESMX) has returned 9.62% so far this year and 22.44% over the past 12 months.
VELA Small Cap Fund
- 1D
- 0.36%
- 1M
- 1.72%
- 6M
- 4.76%
- YTD
- 9.62%
- 1Y
- 22.44%
- 3Y*
- 10.30%
- 5Y*
- 8.30%
- 10Y*
- —
- ALL TIME*
- 14.73%
Benchmark (S&P 500 Index)
- 1D
- 1.48%
- 1M
- 1.57%
- 6M
- 8.95%
- YTD
- 11.03%
- 1Y
- 21.84%
- 3Y*
- 19.28%
- 5Y*
- 11.54%
- 10Y*
- 13.29%
- ALL TIME*
- 8.11%
VESMX Monthly Returns History
Based on dividend-adjusted daily data since Nov 2, 2020, VESMX's average daily return is +0.06%, while the average monthly return is +1.26%. At this rate, an investment would double in approximately 4.6 years.
Historically, 55% of months were positive and 45% were negative. The best month was Nov 2020 with a return of +14.6%, while the worst month was Sep 2022 at -8.0%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 3 months.
On a daily basis, VESMX closed higher 51% of trading days. The best single day was Nov 9, 2020 with a return of +8.1%, while the worst single day was Apr 3, 2025 at -5.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.05% | 1.60% | -5.22% | 4.49% | -1.35% | 3.12% | 2.94% | 9.62% | |||||
| 2025 | 4.29% | -4.06% | -4.97% | -3.30% | 4.21% | 3.55% | -0.95% | 5.43% | -1.36% | -0.36% | 5.34% | 0.80% | 8.12% |
| 2024 | -0.92% | 4.84% | 4.28% | -2.45% | 3.99% | -2.00% | 5.90% | -0.66% | -1.48% | -1.66% | 6.58% | -5.32% | 10.77% |
| 2023 | 5.75% | -0.60% | -5.22% | 0.51% | -2.30% | 7.70% | 3.52% | -2.52% | -2.64% | -4.32% | 4.58% | 7.38% | 11.22% |
| 2022 | -3.12% | 2.16% | 0.54% | -6.32% | 2.76% | -7.57% | 6.50% | -1.46% | -7.99% | 12.68% | 4.23% | -5.92% | -5.53% |
| 2021 | 2.03% | 13.62% | 5.66% | 1.47% | 1.32% | -1.30% | -1.95% | 0.19% | -0.70% | 5.34% | -2.75% | 5.96% | 31.60% |
Benchmark Metrics
VELA Small Cap Fund has an annualized alpha of 2.32%, beta of 0.83, and R2 of 0.58 versus S&P 500 Index. Calculated based on daily prices since November 02, 2020.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (78.84%) than losses (74.68%) - typical of diversified or defensive assets.
- This fund generated an annualized alpha of 2.32% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Alpha
- 2.32%
- Beta
- 0.83
- R²
- 0.58
- Upside Capture
- 78.84%
- Downside Capture
- 74.68%
Expense Ratio
VESMX has a high expense ratio of 1.20%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
VESMX ranks 51 for risk / return — above 51% of mutual funds peers on PortfoliosLab. Its historical combined result is near the middle of the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for VELA Small Cap Fund (VESMX) 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.
| VESMX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.31 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 2.41 | -0.23 |
| Martin ratioReturn relative to average drawdown | 6.73 | 10.22 | -3.49 |
Dividends
Dividend History
VELA Small Cap Fund provided a 0.92% dividend yield over the last twelve months, with an annual payout of $0.21 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Dividend | $0.21 | $0.21 | $0.04 | $0.11 | $0.11 | $0.16 | $0.01 |
Dividend yield | 0.92% | 1.01% | 0.22% | 0.66% | 0.69% | 0.98% | 0.06% |
Monthly Dividends
The table displays the monthly dividend distributions for VELA Small Cap 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 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.21 | $0.21 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.04 | $0.04 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.11 | $0.11 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.11 | $0.11 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.16 | $0.16 |
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 Small Cap 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 Small Cap Fund was 20.35%, occurring on Apr 8, 2025. Recovery took 160 trading sessions.
The current VELA Small Cap Fund drawdown is 1.28%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-20.35%Apr 2025 | 4mo 13d | 7mo 21d | 12mo 4dNov 2024 - Nov 2025 | 2025 selloff2025 |
-17.23%Sep 2022 | 10mo 22d | 10mo 3d | 1y 8moNov 2021 - Jul 2023 | Bear market2022 |
-10.75%Oct 2023 | 2mo 20d | 1mo 18d | 4mo 8dAug 2023 - Dec 2023 | — |
-9.52%Jul 2021 | 2mo 10d | 3mo 15d | 5mo 25dMay 2021 - Nov 2021 | — |
-9.48%Mar 2026 | 1mo 9d | 3mo 8d | 4mo 17dFeb 2026 - Jun 2026 | — |
Drawdown Indicators
| VESMX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.35% | -56.78% | +36.43% |
Max Drawdown (1Y)Largest decline over 1 year | -9.48% | -9.10% | -0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -20.35% | -18.90% | -1.45% |
Max Drawdown (5Y)Largest decline over 5 years | -20.35% | -25.43% | +5.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.28% | -0.12% | -1.16% |
Average DrawdownAverage peak-to-trough decline | -4.48% | -10.70% | +6.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 2.14% | +0.93% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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